Credit One Bank NASCAR Credit Card

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Even die-hard NASCAR fans should steer clear of this card.

Advertiser Disclosure: This post contains references to products from one or more of our advertising partners.

If you’re a die-hard and responsible racing fan pondering whether to apply for the Credit One Bank NASCAR Credit Card, you might want to consider shifting gears to choose a different card instead.

Review

Launched in February 2016, the NASCAR card is aimed at racing super fans. Cardholders get a fat 2% back on all purchases at the NASCAR.com superstore. But even the most loyal fans will have a hard time earning much in the way of rewards.

Consider a pricey set of signed racing helmets. They’ll set you back $1,299. You’ll earn about $26 on purchase. That’s not a win worthy of a victory lap.

The card’s sign-up page also says you can earn 1% back on qualified purchases, and access to discounts and promotions, but it’s unclear just what cardholders might receive. The card terms and conditions says cardholders will receive 1% cash back on eligible gas and automotive purchases or  1% cash back “on all eligible purchases.”

Credit One Bank mostly supplies a mix of secured and unsecured credit cards to customers with damaged or thin credit. The issuer’s fees and features tend to be opaque.

For example, here’s the what they offer to those that Credit One deems as having good credit:

Credit One Bank® NASCAR® Credit Card (Good Credit)
Card Details
  • 1% cash back on eligible purchases, terms apply
  • Double cash back at the NASCAR.com Superstore
  • Access to exclusive offers and discounts from NASCAR partners
  • Zero Fraud Liability ensures that your account is protected against unauthorized charges
  • Stay in-the-know with customizable account alerts via email and text
  • Monitor your credit with free online access to your credit score
Credit Needed Good
Regular APR 17.40% - 24.90% Variable
Annual Fee $0 - $99
Purchase Intro APR N/A
Balance Transfers Intro APR N/A

If Credit One says you have average credit, they’ll make you this offer:

Credit One Bank® NASCAR® Credit Card (Average Credit)
Card Details
  • Receive 1% cash back on eligible purchases and double cash back at the NASCAR.com Superstore. Terms apply.
  • $0 Fraud Liability protects you from unauthorized charges
  • Email or text alerts to remind you when your payment is due
  • Choose your monthly payment due date for added convenience, terms apply
  • Accounts are automatically reviewed for credit line increases, a fee may apply
  • Get free access to your credit score online
Credit Needed Fair
Regular APR 17.40% - 24.90% Variable
Annual Fee $0 - $99
Purchase Intro APR N/A
Balance Transfers Intro APR N/A

Finally, those deemed by Credit One to have poor credit will receive these less-than-stellar terms:

Credit One Bank® NASCAR® Credit Card (Poor Credit)
Card Details
  • Receive 1% cash back on eligible purchases and double cash back at the NASCAR.com Superstore. Terms apply.
  • $0 Fraud Liability protects you from unauthorized charges
  • Email or text alerts to remind you when your payment is due
  • Choose your monthly payment due date for added convenience, terms apply
  • Accounts are automatically reviewed for credit line increases, a fee may apply
  • Get free access to your credit score online
Credit Needed No Credit
Regular APR 17.40% - 24.90% Variable
Annual Fee $0 - $99
Purchase Intro APR N/A
Balance Transfers Intro APR N/A

If you have excellent credit, you can do better than a 17.40% interest rate and earn better cash-back rewards. For those who are rebuilding credit, a high annual fee is likely to eat into whatever credit limit you’re granted. If you only given a credit limit of $300, but the annual fee is $99, you’re only left with $201 of useable credit.

If you’re paying your bill in full every month (and you always should) then the high APRs with this card won’t really matter, but you can still do better with a flat-rate rewards card that offers cash-back on all, and not just the unspecified “eligible” purchases of this one.

Who should own this card

A NASCAR fan who doesn’t mind the less-than-stellar terms offered by this card and can pay their bill on time and in full every month.

Advantages
  • This card pays 2% cash-back on all NASCAR.com purchases.
  • Eligible gas and automotive purchases earn 1% back.
  • Those with excellent credit won’t have to pay an annual fee.
Disadvantages
  • The rewards program is limited and terms are unclear.
  • For those who have to pay an annual fee, it can seriously eat into their credit limit.
  • There’s a fee to pay your bill through the Website or via telephone.
  • There’s a foreign transaction fee of 3%.
  • You might be charged a fee of up to $49 if you request a higher credit limit.
  • Each authorized user you add to the card will cost $19.

Fees and APR

• Depending on your creditworthiness, your APR will be between 17.4% to 24.9%.
• Depending on your creditworthiness, you could pay an annual fee anywhere from of $0 to $75 the first year and $0 to $99 thereafter.
• You’ll pay a 3% foreign transaction fee on all purchases made outside the U.S.
• Late payments won’t affect your APR, but you may have to pay a late fee of up to $37.

Extras, perks and using points

This card comes with travel accident and auto rental collision insurance from Visa.

Cash-back rewards will automatically appear as a statement credit each month on your account. There is no fee to redeem your rewards.

How this card compares

Credit One Bank® Platinum Card
Card Details
  • Credit One Bank automatically monitors every account for credit line increase opportunities each month. We'll let you know as soon as you're eligible for a higher credit line. A fee may apply.
  • See if you Pre-Qualify without harming your credit score. Find the card that's right for you in less than 60 seconds.
  • Eligible purchases will automatically get you 1% cash back, terms apply.
  • This is a fully functional, unsecured credit card—not a debit, prepaid, or secured card. No need to load funds or tie up cash in deposits. There are no out-of-pocket costs to open your account.
  • Enjoy peace of mind with $0 Fraud Liability
  • Email and text alerts remind you when your bill is due, your payment posts, or your available credit is running low
Credit Needed No Credit
Regular APR 16.99% - 24.99% Variable
Annual Fee $0 - $99
Purchase Intro APR N/A
Balance Transfers Intro APR N/A

The Credit One Bank Platinum Card offers some rewards, and offers decent APRs for an unsecured card. A major drawback of the Credit One Bank Platinum Card is that you won’t know the exact terms of your offer until you’ve applied.
OpenSky® Secured Visa® Credit Card
Card Details
  • No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
  • The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
  • Build credit quickly. OpenSky reports to all 3 major credit bureaus.
  • 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
  • We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search "OpenSky Card" in Facebook.)
  • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
  • *View our Cardholder Agreement located at the bottom of the application page for details of the card.
Credit Needed No Credit
Regular APR 18.39% (Variable)
Annual Fee $35
Purchase Intro APR N/A
Balance Transfers Intro APR N/A

The two reasons you may want to apply for the OpenSky Secured Visa Credit Card is if you don’t own a checking account, but still want access to a credit card, or if you’re looking for a secured card with a decent annual percentage rate.

There’s a very narrow band of consumers this applies to, we imagine.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.