Credit One 5% Visa

[Anonymous]

I saw a commercial last night for a 5% Visa card from Credit One on gas and groceries. Is this an attempt to attract more prime customers or is this still considered a sub-prime card? 

[gdale6]

Anything to do with Credit-1 is not recommended, its owned by one of the largest buyers of junk debt

[abdi12]

I think is a step in the right direction but still miles away from being a prime card just because is Credit One. Is has a grace period and if you PIF every month, you can come ahead in terms of rewards (not by much). In addition to gas & groceries you also earn on internet, cable/tv and phone service purchases, the catch being the $5,000 limit (1% after that). I have this card but Amex flavor. After my 2nd statement cut they automatically increased my limit (just $200 but still). Again step in the right direction but they need a lot to work on before being considered a real player in prime cards. 

[Duriel]

My feeling is if they spam my email daily and from different addresses so I can't unsubscribe/block, then they're not worth it.

[GatorCowboyLion]

The Platinum Rewards Visa is 5% on the first $5k, but there is a $95 AF. This may be useful for some people. Many people have 3% cards for some of these categories  (gas, grocery, and internet, cable, satellite TV and mobile phone services) the amount earned over 3% after paying the AF if all $5k was spent would be $5 per year. But if someone doesn't have More Rewards, Propel, or AOD etc, they may benefit from this card, the Credit One website says only average credit is needed. Personally, I've heard too many bad stories about how Credit One is difficult to work with, so I would be very hesitant to sign up for any card, particularly one with an AF. Some have said this company is predatory on those with no credit / poor credit / low information.

However, based on your post, I looked it up and their Best Friends Credit Card looks very interesting. It is a $0 AF with qualifying credit and offers 5% cash back on pet shop, and pet food and supply store purchases for the first $5,000 per calendar year.

[tcbofade]

Credit One has a bad reputation around here and they've earned it. 

That being said, it DOES appear that they are offering better and better products, I imagine in hopes of appealing to a different customer base.  Good for them.

Hard pass for me.

[JamP]

https://www.creditonebank.com/credit-cards/platinum-rewards-visa

Hopefully they push the big boys to rethink 1-2% cash back.

[Anonymous]

I'm gonna pass on it, especially since I now have cards from NFCU and Discover.

[JNA1]

To look at it another way, once you take away the AF, this is a 3.1% cashback card on eligible gas, grocery, internet, cable, satellite TV, and mobile phone services, up to $5K per year, or up to $416.67 per month. It could be useful for the person to fill a hole in someone's spend, or to pay a monthly bill or two. 

If this card like DW's Credit One cash back card, it auto redeems the cash back monthly, which I'm not a fan of, but a lot of people love. 

[Anonymous]

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@JNA1 wrote:

To look at it another way, once you take away the AF, this is a 3.1% cashback card on eligible gas, grocery, internet, cable, satellite TV, and mobile phone services, up to $5K per year, or up to $416.67 per month. It could be useful for the person to fill a hole in someone's spend, or to pay a monthly bill or two. 

If this card like DW's Credit One cash back card, it auto redeems the cash back monthly, which I'm not a fan of, but a lot of people love. 

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How did you get $ 416 per month?