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Credit One Bank Review 2024

Updated January 29, 2024
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At a glance

3.8
Rating: 3.8 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.9 stars out of 5

Savings

Rating: 4.7 stars out of 5

About Bankrate Score

Overview

Credit One Bank is best for people who want a competitive yield on a CD and have at least $100,000 to open one.

Highlights

  • High APY
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
CD
5.15
%
APY
APY
Info
As of 7/17/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
CD
5.10
%
APY
APY
Info
As of 7/17/2024
Rating: 4.9 stars out of 5
$500
Minimum deposit
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Checking Account
0.50
%
APY
APY
Info
As of 7/17/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Credit One Bank offers jumbo CDs, a bump-up CD, a savings account and credit cards. Those looking for checking accounts will need to bank somewhere else.

Pros

  • Checkmark

    Credit One Bank offers a competitive yield on its CDs.

  • Checkmark

    Credit One Bank offers all of the standard CD terms.

  • Checkmark

    It has a 10-day rate guarantee on its CDs.

Cons

  • Credit One Bank requires $100,000 to open its accounts. Most other banks have lower minimum opening deposit requirements.

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We want to know what you think about Credit One Bank

Do you have experience with Credit One Bank? Let us know your thoughts.

Credit One Bank banking products

4.7
/5
Rating: 4.7 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
5.05%
Rating: 5 stars out of 5
5/5
Info
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Subpar
Rating: 2 stars out of 5
2/5
Info
FEATURES

Credit One Bank savings overview

Credit One Bank offers a jumbo high yield savings account. The account requires an opening deposit of at least $100,000.

The bank will let you go below $100,000 in the account, but it will remind you that you need to maintain at least $100,000 in the account. The account doesn’t have a monthly service fee.

You’ll get an extra 0.05 percent increase in your savings rate when you also have a CD with Credit One Bank.

Credit One Bank started offering its jumbo high-yield savings account to consumers in July 2023.

Pros

  • Checkmark

    The Credit One Bank jumbo high yield savings account has a competitive APY.

  • Checkmark

    You get a bonus of five basis points on your CD APY at the bank by having a savings account at Credit One Bank.

  • Checkmark

    The bank’s jumbo high yield savings account doesn’t have any fees.

  • Checkmark

    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

  • 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.

  • You need to keep $100,000 in the account after opening it. You can go below $100,000 but the bank will notify you to bring your balance back to at least $100,000.

  • The Credit One Bank jumbo high yield savings account doesn’t have ATM access.

  • Credit One Bank
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info

Bank experience

You can see your accounts on Credit One Bank’s mobile app. Customer service representatives are available during the week from 7 a.m. until 5 p.m. Pacific time.

The bank has a separate app for deposit customers. It receives modest review scores on iOS and Google Play.

About Credit One Bank

Credit One Bank is a bank based in Las Vegas that offers CDs and a savings account. The bank’s history goes back to 1984 when it was established as the First National Bank of Marin. It changed its name to Credit One Bank in 2006.

In addition to offering jumbo CDs, which require at least $100,000, the bank also is known for its credit cards. Credit One Bank offers a NASCAR American Express card and it offers a WWE Visa credit card.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.