Is a scam or legit?

Posted by CreditCardGuru

Q: Hello, I received an offer in the mail from Is this a scam? Because I am having a hard time finding information about the issuer, Credit One Bank.

A: It’s funny you mention Credit One Bank. A few years ago I had a roommate – albeit a short-lived one – that had horrible credit. However he was able to get a credit card from Credit One Bank. I can’t recall a great deal about his personal experiences with them, but I can tell you some things I do know about the issuer… is not their only website
If the reason you think Yes Credit One is a scam is because the website doesn’t have much information on it, then you are mistaken. The reason there is not much information on is because it appears to be a secondary site setup solely for offers sent through the mail, like the one you received. The official site for Credit One Bank has much more information on it.

Conclusion? The website is not a scam.
Are their offers any good?
Well for starters, it’s important to point out that Credit One Bank focuses on credit cards for bad credit… and it’s hard to call any cards in that category “good” since the typically charge fees and have high interest rates. So we have to look at them in context to others in their league.

Here’s my review of the card offer as of February 2011:

  • The credit card offered is a Visa
  • The APR listed is 23.90% or 26.90%. Both are very high but that is not unusual for cards in this category.
  • The annual fee for the first year is $75.00 and $99.00 each year after that (billed at $8.25 monthly)
  • I do not know if there is a processing fee or not. I cannot view the Credit One Bank card application directly because I don’t have an offer code to enter. From what I can seen on the website, there is no mention of a processing fees but I have read reviews elsewhere where people mention a processing fee (But is there for this particular card? There doesn’t appear to be.)
  • The credit line on the YesCreditOne site says “up to $1,500.” But remember that “up to” means you may or may not get anything close to that. Purportedly it can be as low as $300 (and from what I recall, $300 is what my former roommate had as his credit limit on his card).

I don’t know exactly how long Credit One Bank has been around, but it has been at least a few years so yes, they are a real company and a real bank chartered by the OCC (Office of the Comptroller of the Currency). They are not a scam – their operation is completely legal.

Are their credit cards a good deal? No, the fees are high and so are the interest rates. But that does not mean they are a scam. To the best of my knowledge, the Yes Credit One/Credit One cards are legitimate and if used responsibly, they can be used to build credit.
Other Alternatives?
If you would like to check out alternatives, please see my sponsored rankings of the best secured credit cards to rebuild credit.

Or better yet, use the below tool to find the best offers matched to your credit.

Editorial Disclosure: The editorial content on this page is not provided by any bank, credit card issuer, airline or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

35 comments... read them below or add your own

  1. Freddie August 12, 2014 at 2:40PM

    I filled in an application online today,for what I thought was a credit card, and was accepted for 2500 credit. I stupidly didn’t read what I was signing up for properly until I got an email to register the card. I haven’t registered it and have emailed them to say I don’t want to go ahead with it and asked them to cancel the application and destroy my personal information. Can they still take money out of my account when I haven’t registered it? Panicking!!

  2. BERT WILSON August 1, 2014 at 9:26PM


  3. Tanya July 24, 2014 at 4:34PM

    I filled in a online aplication for this card and stupidly put in my bank details on the form and now I’m thinking why would they need my 3 disgust security code ?? Has anybody else done this do they take money from your account? I’m kicking myself:/

    • Carole Westerman August 18, 2014 at 9:32AM

      Yes i got scammed i gave my three digit code on the back of card it
      Wasn’t from this company though i will never do this again u have to
      Very carfull

    • sammy September 10, 2014 at 4:32PM

      i have just made the same mistake was any money taken from your card, did u canel the card … if i cancel my card now and bin any mail or cards from them will i not be charged.. panicking myself.

  4. Cheryl July 14, 2014 at 12:51AM

    I have worked hard to restore my credit and I thought I was applying for a Capital One credit card and when the card came it was a Credit ONe Bank card. I was so upset thinking I had just been scammed. Why would a company that is legit try to replicate a legitimate one. I have read everyone’s comments and I don’t want anything to do with this card. I have not activated it and don’t want to. How can I cancel without activating? I had two of my checking accounts attached to debit cards hacked into the same time I received this card. Makes you wonder if they had anything to do with it. I would appreciate any direction on how to get rid of this card without any negative consequences.

  5. angelann40 April 3, 2014 at 9:11PM

    thank u i was going to sign just to start establishing credit again although the logo so similar to capital one made me want to investigate first thank all of you for your time to let people beware!!! im not that desperate!

  6. Tam February 11, 2014 at 7:27PM

    How long does it take to get the credit card once you give your information? I’ve been waiting 3 weeks now and when I called customer service I was told that my card was still being processed and that they needed a copy of my drivers license and social security card. Sounds like a scam to me.

  7. Chris December 22, 2013 at 9:29AM

    As long as you pay your balance in full at least 4-5 business days before the due date, you should be just fine. They aren’t the best company as I have found out, but do seem to be operating within the law.

    • barbara January 5, 2014 at 6:51AM

      If this is a revolving account the way you build credit worthiness is not to always pay them your charges off immediately but over several months with concecutive timely payments they want to see the ontime effort at least 6 months that builds the Fico score if you pay off to soon they can’t send the report to the credit bureaus showing your effort payment history.

  8. sull October 23, 2013 at 3:13PM

    Yes Credit One says you are preapproved…then ask for a SSN? RED FLAG people!!! How could they preapprove you without a SSN? They can’t! DO NOT GIVE YOUR SSN TO ANYONE! EVER! This Company is preying on people who want to get their credit back to square and it will just dig the whole deeper! Stay away from these scumbags!!

    • barbara January 5, 2014 at 6:56AM

      All preapproved cards get their info on you from other 3rd party groups they know you accouding list tha are made up just like a maiing list for people that have special interest or needs once you give your SSN you are letting them know you seed their service but always do your homework just like they have all the goods on you, have the goods on them THEY ALL ARE SPECIAL INTEREST GROUPS!!!each time you use a search engine on your computer they already know what you are looking for or need or want

  9. Kyle October 4, 2013 at 7:54AM

    I got the card and had used it then paid it off instantly for about a month. I decided to get rid of 2 of the 4 credits cards I have and one happened to be this card.

    I called them and asked them to make sure that EVERY possible fee is paid and I would even send them $100.00 to cover the future hidden fees but they ensured me that there will be no balance and no more money to pay. As we were getting off the phone he said and you will owe $1.00 for an Xbox Live purchase and all fees will continue to be billed while there is a balance on the card. (this is after he closed the card?) Then he hung up.

    I could barely understand him and now know that these are definitely scammers. I hope I pay it off somehow since they don’t send statements to my address they said. How have they not been shutdown and sued?

  10. Caveat Emptor September 13, 2013 at 6:04PM

    Credit card “offer” associated with a bank that tries to pass itself off as Capital One Bank (it is not, it is Credit One Bank – totally different). When you call to tell you your are NOT interested in their offer and to ask them to stop sending you pre-approved junk in the mail in your name and to your address, the first thing they ask for is you SSN.
    Beware! This outfit smells of scam in so many ways. Do not give out your SSN to anyone, so-called bank or poseur. What they do with your SSN is then in their hands, not yours. Where is big govt. when we need it. Oh yeah, I forgot about the deadlocked Congress that wants to gut smart spending on issues such as fraud and consumer protection….

    • Mandy November 25, 2013 at 10:34AM

      I don’t blame you one bit about handing out our SSN’s. However, because our so called “CONGRESS” passed into law “THE USA PATRIOT ACT” 13 days after the September 11 attacks; our social security numbers is required when applying for any financial need/gain. It is sad but true! So, if you already have a savings or checking account (it doesn’t matter how long your account was opened or have been active), it became public record the minute the USA Patriot Act was passed by our congress and George Bush Jr. was in office. Hmmmmm????

  11. anthony L August 13, 2013 at 12:12PM

    i dont know if any one is actually reading this but these people SUCK i have been ordering a credit cared 4 times to my house and when I am suppose to receive the card I get a change of address saying they are sending every thing to Maryland when I ordered and live in Vegas. I asked what the deal was the robot idiots cant help you so you talk to a manager who makes false promises. I asked if they are an actual company or just a scam that took my address and SSN and they had nothing to say. needless to say I still don’t have my credit card and its been 3 months but hey they say it will be here in the next 7-10 days lol

  12. Blue July 1, 2013 at 2:40PM

    Credit One Bank is a thief ! Their fees and interests are so high and getting low credit limit!!

  13. HR June 18, 2013 at 2:00PM

    I was offered a pre-approved credit card, once I got the card I realized it was approved for $300.00, never received a bill for the so called annual fee, however suddenly I started getting calls from the following number : (210) 892-2188
    TX, USA, but they never left a message. One time that I noticed the call and answered it, a guy with a very thick accent told me that he was calling from Credit One collection department and I now owed $139.00. I asked why, he told me it was for the annual fee. Late charges and penalty. I told why did I not receive an invoice? He did not answer and kept asking for a payment,mean while I could barely hear this guy, as he was playing this very loud Indian music in the background. I asked to talk to a supervisor, he put me on hold and eventually hung up on me.

  14. Barb May 23, 2013 at 10:53PM

    I received a prequalified card offer in the mail. I tried to get information online, waited several minutes for “Seth” to come back to the chat line and then when I tried to ask a question, a message came up that my session was too long and it expired. The main application says a $75.00 membership fee annually but the mail offer said $45.00. Seems inconsistent–the application online says $75.00 the first year then $99.00 after the first year–I doubt this is a good card to acquire since things seem to vary a lot.

  15. Dennis February 18, 2013 at 5:03PM

    MY wife and I got this card I knew it wasn’t Capital One even with the copycat logo and I knew it was high interest but trying to re-establish my credit after bankruptcy but what I wasn’t aware of was how bad there service was. Paid off in full few months after we got the card and they declined the payment from my checking account. After a week they finally notified me it was declined. Now take to mind this card has compounded daily interest and now I have a late fee also. They say I gave them wrong account number but checked it four times before setting on line payment. Wife called in the payment today and they said the account would be immediately ready for use. Well payment finally posted to my account but now finding out it may take up to 10 days for credit to be available. Creditor beware this day and age it takes 10 days with technology we have.

  16. Brenda November 14, 2012 at 6:23AM


    • annie ominous June 20, 2013 at 10:41AM

      They did almost the same thing to me! I wasnt sent a bill for the first five months of having this card and made my payments, reluctantly, over the phone for an extra ten dollars. I demanded a mailed statement every time they called for the next three months. They called me six times a day from 1 877 825 3242 and a 210 number (san antonio tx. where they apparently dont speak english)When I stopped answering, god bless caller ID. They called my fiance and told him I gave them his phone number and that he was liable for my debt. We keep seperate accounts. He was furious! Im glad you spoke up cause I didnt know what to think!

    • Tee July 30, 2013 at 3:43PM

      How long did it take to cancel the card?

  17. Donald Holmes June 11, 2012 at 6:40PM

    I like the post by Michael, creditone is a legit place but they service customers that are credit risks, so the cards do come with fees and a high APR. I am a current customer and have not encountered a rude customer service agent or any mal treatment. I ALWAYS make payments ontime and have already had two recent increases, as well as, a bump in my credit score.

  18. doin May 25, 2012 at 7:01AM

    Funny the deceptive labeling of Credit One, look closely and you’ll see it looks just like Capitol One, so if you’re not careful (like I was, you’ll just think its Capitol One).

    I called their customer service to tell them I didnt want there card , as soon as I got to the customer service line it said I was activated , I told them no I didn’t want this, “Haji” said that he canceled the account, but who knows, it’s sad when customer service is from India and they just read a script. You gotta just continue to hit “0″ until one of the “haji’s” answer the phone, even with bad credit this is a ripoff, my asset value is well over a million and yet I can’t get any offers, other than this, while Chase steals money and gets away with it, the rest of us pay the consequences.

  19. Ashmead R May 8, 2012 at 6:50AM

    Could some one give me information on Credit One bank customer service. I’ve been trying to get information so I could leave them a message about my bank problems. Some company took money out of my account and mess up my account. I have been trying to get in-touch with the bank customer service so I could explain them what is going on but I can’t seem to get through…

    • Truth July 5, 2012 at 3:21PM

      The customer service is terrible especially if you plan on closing the account. Do yourself a favor and don’t keep their credit card. Once you get the card you cannot close the account which means they will draw interest and then the interest will turn into interest etc.

  20. Elizabeth Edwards January 25, 2012 at 5:16PM

    Thanks you guys, I’ve got enough financial problems, appreciate the advice!!!

  21. Ryan January 21, 2012 at 7:15AM

    I would avoid Credit One Bank at all costs. My experiences with their company were so bad I submitted several complaints to government regulatory agencies and spoke with an attorney (who said they had committed numerous violations of consumer rights laws). High fees, high interest, high penalties, and horrible customer service. If anybody else has had experiences like mine with Credit One Bank, I would encourage them to submit complaints as well.

    Links to Government Regulatory Agencies:

    Better Business Bureau of Southern Nevada –

    Federal Trade Commission –

    Consumer Financial Protection Bureau –

    • Truth July 5, 2012 at 3:22PM

      That’s important information.

    • Mike June 23, 2013 at 5:35AM

      If this is a national bank, you also want to report them to the OCC:

  22. jason December 9, 2011 at 8:16PM

    Credit One Bank is an absolutely horrible credit card. They employ a number of tricks with regards to payment. Bottom line you make your payment on time (as in the day it is due) and you still get charged a late fee. You call them and their customer service team is not empowered to do the right thing and are simply robots. So, you have a due date listed on your online statement but the rules buried in their agreement state you have to make the payment 3 biz days before. Just ridiculous and bad news. Will do everything in my admittedly limited power to make sure others are aware and steer clear.

  23. BEN September 29, 2011 at 9:40PM


  24. ben September 29, 2011 at 9:37PM

    they sent me a pre-approved card the card has cost $75. a year! plus $19.99 for an 2nd user card(a year). advance cash limit of $200. a day(actually $180.00 the count the atm fee against cash withdraws) They charge $9.95 to make an express payment which posts the next day(they say) I make a few express payments with checking account. the payment posts right away but funds take about 5 days to be available ! I mailed a check to them through snail mail and was just as fast from jacksonville fl to nevada in four days max and posted same day. they say(credit one bank) if you pay with a debit card it goes through faster. I made an “express payment” an electronic payment from checking account from their website and it took 5 days. I asked why and the said it takes longer to clear this way, i said but its the same thing (electronic check and debit card) the money comes from the same source and post the same way……My mother is an authorized user on my account . She made a couple payments to the account and credit one put a block on my account and is having me checked out for credit card fraud??!!! Credit one Banks customer service is the worst at best! ask 4 reps the same question and get 4 different answers! trust me stay away from credit one bank!!!! I hear the more they raise your credit limit the more the yearly fee is!! They started me out with 400. limit and the $75 fee is taken from your credit limt. So i was given 400 cred limit and got 325 after the fee


  25. jeremy April 21, 2011 at 12:46AM

    I have used credit card companys like this in the past to rebuild my credit . They worked well for me if I get the 1500 I will probably join myself. 75 dollars the first year to rebuild credit sounds cheap to me.

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