The Credit One Bank® Unsecured Platinum Visa® card is a perfect solution for credit card users who need to build their credit score, and also want to explore how a cash back rewards program works. Credit One Bank® offers card holders credit education and free monthly access to their credit scores — a great way to help cardholders focus on financial milestones.
The Credit One Bank® Unsecured Platinum Visa® card gives card holders the opportunity to earn unlimited 1% cash back for gas and grocery purchases. Credit One Bank's® Visa® comes with an annual membership fee, which varies depending on your initial available credit line. The annual membership fees range from $0 to $99 the first year but is subject to change each subsequent year.
The DCU card gets kudos for offering an ongoing APR lower than most secured cards on the market. While credit card users should do everything in their power to pay their balance off each month, having a low APR is reassuring when times get tough. The DCU card requires a deposit which acts a credit line. The Credit One Bank® Unsecured Platinum Visa® does not require a deposit, but does charge an annual fee.If you’re focused on building your credit score strategically, the education offered alongside a Credit One Bank® card may be beneficial to you. If you can afford a one-time deposit, but annual fees scare you, the DCU may be a better card to consider.
OpenSky® and Credit One Bank® Unsecured Platinum Visa® tout an application process that lasts less than a minute and causes minimal to no impact on your credit score. The major difference between these cards becomes the secured portion of the OpenSky® Secured Visa name: OpenSky® requires a deposit to establish a line of credit, and Credit One does not. Credit One does charge an annual fee, though. The major advantage Credit One has over OpenSky® is the opportunity for cardholders to participate in a cash back program.
The Chase Freedom® card requires a higher credit score for eligibility so it tends to offer some cool bonuses that Credit One can’t: a $150 bonus after you spend $500 on purchases within the first three months of opening an account, and a $25 bonus after adding an authorized user and making a purchase in that same three month period. While Credit One Bank® has a rewards program, Chase Freedom® card holders reap more benefits: 5% back on both purchases, as well as those at restaurants. All other purchases on the card bring the card holder 1% cash back. There is no annual fee with the Chase Freedom® card. Keep these benefits in mind when it’s time to apply for a credit card that grows with your credit score.
If you don't have stellar credit and are working on rebuilding your credit, then the Credit One Bank® Visa® is a good card for you. Card holders will receive credit education while dabbling in an entry-level rewards program. This Visa® doesn't offer lots of bells and whistles, but it helps cardholders learn responsible credit card usage. And that's a lesson that's as good as gold.