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Credit One Bank Platinum X5 Visa – How to apply
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Credit One Bank Visa Platinum X5 is great for improving credit and earning rewards.
Credit One Bank Visa Platinum X5 is an excellent option for people with fair or better credit who are looking to increase their score and take advantage of rewards benefits.
It offers one of the best cashback programs on the market, providing 5% rewards in essential categories such as gasoline, grocery and cell phone services, up to $5,000 per year.
In addition to rewarding your spending with cash back, It also offers useful tools for improving your credit score, such as free credit score monitoring and the possibility of limit increases with responsible use.
Credit Card
Credit One Bank Platinum X5 Visa
5% cashback on essentials. Limited benefits and protections.
How does the Credit One Bank Visa Platinum X5 work?
The Credit One Bank Visa Platinum X5 works like a cash back rewards credit card designed to reward purchases made in essential categories.
He offers 5% cashback on the first qualified purchases of gasoline, supermarkets, internet, cable TV and mobile phone services, up to a limit of $5,000 per year.
After reaching this limit, the cashback rate decreases to 1% on purchases in these categories.Additionally, the card offers 1% cashback on all other purchases, which makes this card advantageous for any type of spending.
Main benefits of Credit One Bank Visa Platinum X5
The main attraction of Credit One Bank Visa Platinum X5 are your cash back rewards.
The card offers an exceptional rate of 5% em cashback on first purchases of selected categories, such as fuel, supermarket, internet, cable TV and mobile phone services.
And with a limit of $5,000 per year on these purchases, the Credit One Bank Platinum X5 Visa allows you to earn up to $250 per year in these essential categories.
Furthermore, it guarantees 1% cashback on all other purchases, making it a great option for those who make multiple purchases outside of promotional categories.
Among the most advantageous features is the possibility of choosing your due date, which gives the cardholder the convenience of adjusting payment to their needs.
Additionally, the card offers $0 fraud liability, ensuring protection against unauthorized charges, which brings an extra layer of security for consumers.
Another positive point is the compatibility with digital wallets such as Apple Pay, Samsung Pay and Google Pay, allowing fast and secure payments directly from your cell phone.
The main disadvantage questioned by users is the annual fee of $95, which can be a significant amount for those who don’t use the card regularly or don’t reach the annual reward limit.
Another point to be considered is the rewards limit. The card offers 5% cashback up to $5,000 in qualifying purchases, which may not be enough for those who make a lot of purchases in these categories.
After reaching this threshold, rewards drop to 1%, which can be frustrating for those who rely on rewards in specific categories.
Finally, the Credit One Bank Visa Platinum X5 does not offer a welcome bonus nor low APR introductory period, which means the card does not provide the same initial benefits as other credit cards.
Furthermore, the 28.99% regular APR rate can be high, making it less attractive for those planning to carry a balance.
APR and Fees
The Credit One Bank Visa Platinum X5 has a 28.99% regular APR interest rate, which can be quite high, especially if you carry a balance from month to month.
In terms of fees, the card has an annual fee of $95, which can be a disadvantage for those looking for a card with no annual costs.
However, for those who spend in categories that qualify for the 5% cashback, this cost may be offset by the rewards generated.
An advantage of the card is that it does not charge foreign purchase transaction fee, which makes it a good option for those traveling abroad and don’t want to pay additional fees when using the card in other countries.
How to apply for the Credit One Bank Visa Platinum X5
To request the card, bJust access the official Credit One Bank website and fill out a form with personal information, such as name, address and financial data.
The good news is that the pre-qualification process doesn’t affect your credit score and you can check what terms are available before submitting your application.
If you are approved, the Credit One Bank Visa Platinum X5 will be sent to your address.
Remember this card is designed for people with reasonable credit or better, so it’s important to ensure you meet the minimum requirements before applying.
Once approved, you will be able to enjoy the card’s rewards benefits, such as 5% cashback in the qualified categories, and will also have access to tools such as free credit monitoring, which can help you improve your credit score even further.
Credit Card
Credit One Bank Platinum X5 Visa
5% cashback on essentials. Limited benefits and protections.
