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The credit one American Express card is a simple cash back card. People with average credit are offered both rewards and American express benefits. Although the rate of reward is low and it has an annual fee and high APR but, People with imperfect credit can get a taste of travel and purchase benefits, which are reserved for good credit cardholders. You can earn an unlimited 1% cashback reward on every purchase. You also get a deal on travel, shopping, entertainment, and dining. Plus, you get insurance on damage purchases. You also access pre-sale tickets to concerts and events nationwide.
Suggested Read: Foundations in Personal Finance
Percentage and Fees on Credit One American Express Card
| Regular APR (%) | 23.99% variable |
| Annual fee | $39 |
| Reward earning rate | 1.00% |
| Foreign transaction fees (%) | 3% |
Rating for Rewards, Fees, Interest, and Credit
| For Reward | 4.1 |
| For Fees | 2.6 |
| For Interest | 1.9 |
| For Credit | 3 |
Pros and Cons of Credit One American Express Card
Pros
A sufficient credit limit that can be increased:
The minimum credit limit of the card is $300, which is better than other competing cards, and they will also review your account automatically. Credit limits can be increased if you keep a good record.
Applicants with average credit are eligible:
Most of the rewards credit cards are reserved for the people with good to best credit. But in the case of credit one bank, American express card people with average credit are also eligible. People can enjoy rewards and American Express benefits with credit. One bank American express card is generally reserved for the people with good to best credit.
Simple and easy rewards structure:
Most credit card rewards can be very confusing. A higher rewards rate is offered by some rewards cards in various spending categories, which may change every quarter, or spending caps are set on rewards categories. But in the case of Credit, one bank, American Express card, is extremely simple and easy. You will get 1% cashback on every purchase. Plus, there are no spending categories to remember. For example, if your spending with this card is $1800 a year, then you will get $180 rewards.
American Express benefits:
People with average credit tend to get very few benefits, but in the case of credit one bank American Express card, you can enjoy benefits like:
Travel discounts on American Express Card:
You can get a discount on flights, hotel stays, cruises, and car rental.
Amex offers:
You can get discounts on shopping, travel, and dining.
Compensation:
If you want to return any eligible purchase item and the retailer won’t accept it, then you may be compensated by American express.
Cons
Low cashback rate of American Express Card:
Credit one bank American Express card gives you 1% cash back on every purchase, but this is very low as compare to other competing cards. Other credit cards, even with average credit, offer you higher cashback so you can earn more cashback and rewards points.
No warm welcoming:
Credit one bank American Express card does not give cardholders a one-time offer, which means you are missing hundreds, depending on your spending. An incentive is offered to many credit cardholders in the few months of opening an account, but this is not the case in the credit one bank American Express card.
Higher APR and fees of American Express Card:
Credit one bank’s American express card has very high APR and fees. The regular ARP on the purchases is 23.99%. Plus annual fee of $39, and the authorized user fee is $19. And in the case of using this card outside the United States then you have to pay a foreign transaction fee.
No other redemption option:
If you are thinking of using your rewards for something or anything else or just want to keep your cash in hand, you should probably look for another card. No others redemption is there beyond the automatic statement credit. And as with other cards, you can request to have a cheque or buy gift cards, but credit one bank American Express card does not allow you even that.
For Whom This Card Is Best:
This card is best for people who have average credit or who just want to use a simple and easy-to-use card. On every purchase, you will be rewarded 1% cashback, so this option is great for you if you don’t want to remember different spending categories. On credit one bank American Express card, you can buy your everyday purchases with one card and gets the same rewards point. So, this card is extremely simple to use, and there is not much to remember.
How to Get the Best Out of This Card:
You can get the best out of this card by paying your bill on time and keep in check all your spending. By doing so, you will get a higher credit limit and a good credit score by credit one. You can use this card to book flights, hotels, and rental cars. You can get a 30% discount on certain hotels, 2% to 10% on delta flights, and a 25% discount on car rentals.
Details About Rewards Earning:
The credit one bank American express card rewards are very simple to understand. You will get a flat 1% of cashback on all the purchases you make. There is no limitation on how much you will earn cashback. Which will be issued automatically as a statement credit.
Nevertheless, few limitations are on the type of transaction which is eligible for rewards. On interest, cash advance, balance transfers, fees, or your account is not in better standing, you will not earn your cashback in the above situations.
Outstanding Benefits of Credit One Bank American Express Card
People with average credit can enjoy some outstanding perks with this card, which they can’t enjoy if they were using some other card. Benefits such as you can get up to 30% of discount on certain hotels, you can also get access to tickets before the general public, you also get a huge discount on Delta flights and car rental.
Standard Benefits
- Credit one gives insurance to any loss or damage to the rental car.
- There is also issuance on travel incidents.
- Retails protection is also given
- Extended warranty protection
Cardholders’ Experience
The credit one bank American Express card is an American Express card, but this card is not issued by American Express; instead, it is issued and administrated by credit one bank. This is unfortunate for the cardholders.
According to power’s credit card satisfaction study in 2020, This card stands at the last out of 11 national card issuers. If customers have any issues or questions related to their account, that could be problematic.
Credit one bank’s customer service availability is on the phone. Only for selective few hours live customer service is representative. An automatic line is available 24 hours a day and 7 days a week.
Security Features
This card offers the following security features:
- There is zero liability protection, which means cardholders are not responsible for any unauthorized charges
- smartphone app access
- you get online access to your Experian credit report
- Fraud warns
Our Verdict
The credit one bank American express card is for people who are looking for average credit with simple rewards and with many benefits and perks. On your every purchase, you will get a flat 1% cashback. Plus, there is no limit for how many purchases you make. You also get discounts on Delta flights, certain hotels, car rental, shopping, and dining. There is also insurance for damage and stolen items and insurance on travel incidents.
But, you can always go for cards that give you higher rewards rates, One-time offer opportunities, less APR and fee, redemption offers, and better cardholders’ experience. So, you should consider all the other options available then make a decision.
Credit card companies have begun to assist users with low credit limits. If you’re having trouble, get the Milestone Gold Card here.