Credit One review: Everything you need to know

Your credit history plays a big role in what financial products you can access. If you’ve struggled with credit in the past, or you’re just starting to build it, Credit One Bank is one of the names you’ll likely come across.

The company is known for offering credit cards to people with fair or even poor credit, while also providing some rewards and perks. In this Credit One review, we’ll break down what you can expect from its products, fees, and customer experience, plus how it compares to other options.

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Credit One: general overview

Credit One Bank is a US-based financial services company that primarily focuses on credit cards. Founded in 1984 and headquartered in Las Vegas, Nevada, it’s often marketed as a solution for people with limited, fair, or rebuilding credit. Today, Credit One serves more than 40 million cardholders across the country.¹

The bank doesn’t have the same broad product lineup as larger institutions. Its main offerings include:

• Credit cards: Designed for consumers with less-than-perfect credit, often featuring cashback rewards, custom card designs, and tools to monitor your credit score
• Certificates of Deposit: Fixed-term savings products that allow you to lock in a rate for a set period
• Savings accounts: Limited availability, generally tied to CDs or promotional offerings

What makes Credit One stand out is accessibility. Many people who may struggle to qualify for cards elsewhere can find an option here. However, that accessibility can come with trade-offs like higher fees, lower credit limits, and less flexibility compared to bigger banks.

Credit One savings account reviews

Credit One Bank isn’t known for everyday banking, but it does have a Jumbo High Yield Savings Account for customers who can deposit larger sums. The account currently offers a 4.20% APY, which is significantly higher than the national average.²

You’ll need at least $100,000 to open and maintain the rate. There are no monthly maintenance fees, and the account is FDIC insured up to standard limits. Managing your savings is straightforward with online banking and the Credit One mobile app, which offers 24/7 account access.

If you also open a Credit One CD, you can qualify for a 0.05% loyalty rate boost, adding a little extra value. For customers who meet the high minimum, this account can be a competitive option for short-term cash reserves.

Credit One CD

Credit One Bank also offers High-Yield Certificates of Deposit. These can be a great fit if you want a predictable return and are comfortable locking your money away for a set period.

The standout feature is the high minimum deposit. You’ll need at least $100,000 to open a CD, which puts it firmly in the “jumbo” category. In return, you can access rates as high as 4.30% APY on a 6-month term and 3.75% – 3.80% for longer commitments.³

Every CD is FDIC insured up to legal limits, and Credit One adds a couple of perks: a 10-day rate guarantee (if rates rise within 10 days of opening, you get the higher APY) and a 0.05% loyalty rate boost if you renew.

Credit One CD rates at a glance

Credit One customer experience

Credit One offers 24/7 phone support and a mobile app that makes it easy to check balances, pay bills, and manage accounts on the go.⁴ The app is available for both iOS and Android and is designed for straightforward account management.

That said, customer reviews are mixed. Some users like having access to credit even with lower scores, while others report delays in posting payments, strict verification requests, or challenges when working with customer service.

If you want a simple way to track spending and build credit, Credit One can be a fit. But if strong customer support and smooth digital tools are a priority, it may fall short compared to other banks.

Credit One overdraft fees

Credit One doesn’t offer checking accounts, so there are no overdraft services or fees to worry about. If you’re using a Credit One credit card, any transactions beyond your available credit limit will simply be declined.⁵

That means you won’t face the kind of overdraft charges you might see at a bank, but it also means you’ll need to carefully track your balance to avoid declined purchases.

Credit One comparison

Not sure if Credit One is the right choice? Here’s a look at how its savings options compare with similar accounts from other US banks. You can also explore each provider for more details before deciding where to put your money.

Credit One pros and cons

Credit One is designed for people who want to rebuild credit with access to credit cards or earn higher-than-average interest with its deposit products. That mix can make it appealing if you’re trying to get back on track financially, but it isn’t without its drawbacks.

Here’s a closer look at where Credit One stands out and where it falls short.

Pros

• Credit cards available for people with less-than-perfect credit
• Jumbo high-yield savings account with a competitive APY
• FDIC-insured deposits for extra peace of mind
• Certificates of Deposit with multiple term options
• Simple online account opening and mobile app access

Cons

• High minimum deposit ($100,000) required for savings and CDs
• Annual fees and relatively low starting credit limits on many cards
• Mixed customer reviews, especially around service and support
• Limited banking options compared to larger institutions
• No checking account or everyday banking services

Frequently asked questions about Credit One

Thinking about opening an account with Credit One? These are some of the most common questions people ask before deciding whether it’s the right fit.

Is Credit One a good bank?

Credit One can be a practical choice if you’re looking to rebuild credit or earn interest through its deposit products. Its credit cards are designed for people with fair or rebuilding credit, while its Jumbo High Yield Savings Account and CDs offer competitive APYs compared to many big banks.

The trade-off is that savings products require high minimum balances (typically $100,000). If you want no-frills accounts with strong rates, it may work well. If you prefer low barriers to entry or premium support, you may want to compare alternatives.

What is the rating for Credit One?

Credit One Bank currently holds an A+ rating from the Better Business Bureau and averages around 3.3 out of 5 stars on WalletHub from over 17,000 reviews.¹¹

Reviews often highlight how the bank delivers on providing access to credit for those who might not qualify elsewhere, but they also reflect concerns around customer service and dispute handling.

As with many banks, experiences vary, so it’s worth checking independent reviews to see if their services match what you’re looking for.

Is Credit One a safe bank?

Yes. Credit One is a legitimate, FDIC-insured bank headquartered in Las Vegas, Nevada. This means deposits in its savings accounts and CDs are insured up to $250,000 per depositor, per account category.¹²

For credit cards, standard protections apply, and you can manage accounts securely online or through the mobile app. While customer service reviews are mixed, your deposits are still covered by federal insurance, so your money is protected within FDIC limits.

Credit One is best suited for people rebuilding credit or those with high balances who need to take advantage of its savings and CD rates. The trade-off is that accounts often come with stricter requirements, and customer experiences can be mixed.

If you want straightforward credit-building options and competitive deposit rates, it may be worth considering. But for lower fees, easier account access, or stronger service, other banks might be a better fit.

Learn more about Wise

Sources

1. Credit One – What’s ahead
2. Credit One – Jumbo High Yield Savings Account
3. Credit One – High Yield CDs
4. Credit One – Customer service help
5. Credit One – Credit Limit vs. Available Credit
6. Capital One – Online Performance Savings Account
7. Chime – High-Yield Savings Account
8. Citibank – Savings accounts
9. PNC Bank – Standard Savings
10. TD Bank – Savings accounts
11. Wallet Hub – Credit One Bank reviews
12. Credit One – FDIC insured

Sources checked 09/23/2025