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Credit One Bank Review 2022

Updated December 2, 2022
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At a glance

2.4
Rating: 2.4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.9 stars out of 5

About Bankrate Score

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Overview

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

Highlights

  • High APY
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 2.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.05
%
APY
Rating: 2.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.00
%
APY
Rating: 2.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

Credit One Bank offers jumbo CDs and credit cards. Those looking for savings and 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 only offers CDs and doesn’t have a savings account or any other deposit products.

  • Credit One Bank requires $100,000 to open a CD. There are many online and other banks that have lower minimum opening deposit requirements.

Credit One Bank bank products

3.9
Rating: 3.9 stars out of 5
Bankrate Score

Credit One Bank CD overview

Credit One Bank offers seven terms of jumbo CDs. The CD terms range from six months to five years. But you’ll need $100,000 to open a CD at this bank. The bank gives you a higher APY if its yield increases within 10 calendar days of opening your CD.

Credit One Bank CDs have the following early withdrawal penalties:

  • Its six month and one year CD have a 90 days of simple interest penalty for early withdrawals.
  • All CDs with terms 18 months through five years, would have an early withdrawal penalty of 180 days of simple interest.
  • The bank currently isn’t offering CDs longer than five years. But if it was, the penalty for early withdrawals would be 365 days of simple interest.

Pros

  • Checkmark

    Credit One Bank gives you 0.05 percent above the current APY upon your CD renewal.

  • Checkmark

    Credit One Bank gives you the higher APY if its yield increases within 10 days of opening your new CD.

Cons

  • You’ll need at least $100,000 to open a CD at Credit One Bank.

  • Customer service hours are limited.

Compare Offer
Bank logo
Member FDIC
CD
4.00
%
APY
Rating: 2.4 stars out of 5
InfoHover for more
$0
Min. deposit
1 yr
Term

Bank experience

You can see your CD on Credit One Bank’s app. Customer service representatives for CDs are available during the week from 7 a.m. until 5 p.m. Pacific time. Credit One Bank has two apps: one for its CDs and another for its credit cards.

About Credit One Bank

Credit One Bank is a bank based in Las Vegas that offers CDs. 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. In June 2021 it began offering a WWE Visa credit card and a Six Flags Rewards 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.