Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (2024)

On This Page:

  • Which Card Is Best?
  • Head-to-Head Comparison
  • Rewards
  • Methodology
  • FAQ
  • Which Card Is Best?
  • Head-to-Head Comparison
  • Rewards
  • Methodology
  • FAQ

Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (1)

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Both the Credit One Bank Platinum Visa and the Credit One Bank Platinum offer valuable cash back rewards and credit-building tools, making them appealing for those seeking to enhance their financial toolkit. However, the Credit One Bank Platinum Rewards edges out its counterpart with a higher cash back rate of 2% on select categories and no annual fee, making it the superior choice for cost-conscious consumers. The Credit One Bank Platinum, has a lower credit score requirement, remains a viable option for those with fair credit looking to earn rewards while building credit.

Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (2)

Credit One Bank® Platinum Visa®

Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (3)

Credit One Bank® Platinum Rewards Visa® With No Annual Fee

MoneyGeek Rating

1.7/ of 5

MoneyGeek Rating

1.7/ of 5

  • Regular APR

    29.74% variable

    29.74% variable

    0% APR Offer

    -

    -

    No current offer

    This card doesn't offer cash back, miles, or points

    No current offer

    This card doesn't offer cash back, miles, or points

    Rewards Summary

    Earn 1% cash back

    Receive 1% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable and satellite TV services. Terms apply.

    Earn 2% cash back

    Ear9n 2% cash back rewards on eligible gas and grocery purchases as well as mobile phone, internet, cable and satellite TV services. Terms apply.

    Balance Transfer Offer

    -

    -

    Balance Transfer Fee

    -

    -

    Annual Fee

    $39

    $0

    Recommended Credit

    580-740 (Fair to Good)

    670-850 (Good to Excellent)

    Penalty APR

    -

    -

    Not sure?

Which Card Is Better for You?

You might prefer the Credit One Platinum Rewards if you're looking for robust cash back on everyday purchases without worrying about an annual fee. This card rewards you with 2% cash back on eligible gas, grocery and service provider purchases, making it a strong contender for those who have good to excellent credit and want to maximize their rewards.

You might prefer the Credit One Platinum if your credit score is in the fair to good range and you're seeking a card that offers cash back rewards. While it has a $39 annual fee, it provides 1% cash back on the same types of purchases as the no annual fee version, which could be a worthwhile trade-off for easier qualification.

Head-to-Head Comparison: Card Details and Features

Evaluating APRs, fees, credit requirements, rewards and additional features will illuminate which card aligns with your financial needs. This section breaks down these elements, offering a clear view of each card's offerings. For instance, if annual fees are a concern, the Platinum Rewards with its $0 fee may appeal more than the Platinum with its $39 fee.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (4)

    Regular APR: Tie

    Both the Credit One Platinum and the Credit One Platinum Rewards both offer a regular APR of 29.74% variable, making them equal in this aspect.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (5)

    Annual Fee: Credit One Platinum Rewards

    The Credit One Bank Platinum Rewards is better for avoiding annual fees, offering a $0 annual fee compared to the Credit One Platinum card's $39 annual fee.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (6)

    Introductory 0% APRs: Tie

    Neither the Credit One Platinum nor the Credit One Platinum Rewards offers introductory 0% APRs.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (7)

    Rewards: Credit One Platinum Rewards

    The Credit One Platinum Rewards card is better for rewards, offering 2% cash back on eligible gas and grocery purchases as well as on mobile phone, internet, cable and satellite TV services. Both cards offer cash back on the same categories, but the Platinum Rewards card doubles the cash back rate compared to the Credit One Platinum card.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (8)

    Welcome Offers: Tie

    Neither the Credit One Platinum nor the Credit One Platinum Rewards offers a welcome bonus, making this feature a tie between the two cards.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (9)

    Recommended Credit Score: Credit One Platinum

    The Credit One Platinum is better for individuals with lower credit scores, requiring a range of 580 to 740 (fair to good), compared to the Credit One Platinum Rewards' 670 to 850 (good to excellent) range.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (10)

    Penalties and Fees: Credit One Platinum

    When comparing penalties and fees, the Credit One Platinum may be more favorable due to its lower cash advance fee structure, despite both cards having similar late and foreign transaction fees.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (11)

    Issuer Satisfaction: Tie

    Since both cards are issued by Credit One Bank, they share the same issuer satisfaction score.

    Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (12)

    Other Features & Perks: Tie

    Both the Credit One Platinum and Credit One Platinum Rewards offer valuable security and convenience features, including $0 fraud liability, free online credit score and credit report summaries, customizable account alerts and mobile app account management.

Rewards Comparison

The Credit One Platinum Rewards card outperforms its counterpart with a 2% cash back rate on key spending categories. This includes eligible gas and grocery purchases, as well as payments for mobile phone, internet, cable and satellite TV services.

In contrast, the Credit One Platinum card offers a lower rate of 1% cash back on the same categories. While both cards provide value, the Credit One Platinum Rewards card doubles the earning potential on everyday expenses, making it the better option for rewards.

Please see the following table for a detailed comparison of the bonus categories for each card.

Category

Credit One Platinum Rewards

Credit One Platinum

Gas

2% cash back

1% cash back

Groceries

2% cash back

1% cash back

Mobile Phone Services

2% cash back

1% cash back

Internet Services

2% cash back

1% cash back

Cable and Satellite TV Services

2% cash back

1% cash back

All Other Purchases

1% cash back

1% cash back

Redeeming Rewards

Moving from earning to using your rewards, neither the Credit One Platinum Rewards nor the Credit One Platinum card specifies unique redemption or expiration policies. Typically, cash back can be redeemed for statement credits, gift cards or other similar options. It's important to review the terms for each card to understand any potential limitations or redemption thresholds.

Methodology

MoneyGeek evaluates credit cards using a ranking process tailored to specific use cases, such as cash back or balance transfers. For the Credit One Platinum and Credit One Platinum Rewards, the highest scoring use case is cash back.

The most significant factors in determining these scores are the effective reward rate and the return on investment for offers. For a detailed understanding of our scoring system, you can review our ranking methodology.

FAQ: Credit One Platinum vs. Credit One Platinum Rewards

What are the annual fees for each card?

The Credit One Platinum has a $39 annual fee, while the Credit One Platinum Rewards may offer a card with no annual fee for qualified applicants.

How do the rewards programs compare between the two cards?

Credit One Platinum Rewards offers 2% cash back on select categories, which helps you maximize rewards. Credit One Platinum offers a lower cash back of 1% on the same categories.

What is the required credit score for each card?

Credit One Platinum is for those with 580 to 740 credit scores, and Credit One Platinum Rewards is for those with 670 to 850.

Do either of the cards offer introductory APR rates?

Neither card offers introductory APR rates. You can find other cards that have 0% introductory APR rates.

Are there foreign transaction fees for either card?

Both cards charge either $1 or 3% for foreign transactions. Consider cards without foreign transaction fees if you travel abroad.

About Doug Milnes, CFA

Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (13)

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about

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Credit One Platinum vs. Credit One Platinum Rewards Credit Card Comparison (2024)

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