Credit One Bank Review
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Edited by
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At a glance
Overview
Founded in 1984, Las Vegas-based Credit One Bank is better known for its credit cards but also offers competitive yields on CDs. However, you must meet a $100,000 opening deposit requirement. It also offers a savings account but no checking account.
Highlights:
High APYHighlights:
CDs
Savings
Customer Experience
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.6/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.1/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Credit One Bank pros and cons
Pros
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Credit One Bank offers a competitive yield on its CDs and a 0.05% rate increase when you renew.
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Credit One Bank offers all of the standard CD terms.
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It has a 10-day rate guarantee on its CDs.
Cons
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Credit One Bank requires $100,000 to open its accounts. Most other banks have lower minimum opening deposit requirements.
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Credit One Bank banking products
Credit One Bank savings overview
Pros
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The Credit One Bank jumbo high yield savings account has a competitive APY.
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You get a bonus of five basis points on your CD APY at the bank by having a savings account at Credit One Bank.
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The bank’s jumbo high yield savings account doesn’t have monthly fees.
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The bank doesn’t limit the number of withdrawals you make. (It does limit aggregate transaction amounts – which includes both withdrawals and deposits – to $1,100,000 in a day.
Cons
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You need at least $100,000 to open the bank’s savings account. Other online banks have a higher yield with a much lower minimum opening deposit requirement.
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You need to keep $100,000 in the account after opening it to earn the APY.
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The Credit One Bank jumbo high yield savings account doesn’t have ATM access.
Rate history for Credit One's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Credit One Bank CD overview
Pros
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Credit One Bank gives you 0.05% loyalty boost above the current APY when you renew your CD at maturity.
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Credit One Bank gives you the higher APY if its yield increases within 10 days of opening your new CD.
Cons
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You’ll need at least $100,000 to open a CD at Credit One Bank and to earn the APY.
Rate history for Credit One's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Customer experience
Customer service. Customer service representatives are available by phone Monday through Friday from 7 a.m. until 5 p.m. Pacific time. Other banks offer extended and weekend hours.
Digital experience. If you have both credit cards and deposits accounts with Credit One Bank, you'll have to use seprate apps to manage each. The deposits-focused app, labeled "Credit One Bank Deposits," receives modest review scores on iOS and Google Play. While you can set up bill pay and transfer funds account-to-account through the app, there's no peer-to-peer payment feature. Credit One's website has a robust FAQ section. Rate information is easy to find, but fee and other disclosure information is buried elsewhere on the website (and with no search function, it's hard to locate at all).
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
