Credit One Bank is best known as a credit card issuer that offers products for rebuilding credit. However, the bank also has cards for average credit, as well as some cards with decent cash back rates.
If you’re interested in a Credit One Bank credit card, it’s easy to check if you qualify without triggering a hard inquiry. The issuer actively sends out preapproved credit card offers in the mail, and you can also prequalify for a card on the Credit One Bank website or tools like CardMatch™.
Which Credit One Bank cards can you get preapproved for?
When you go through prequalification on the Credit One Bank website, you’ll be able to see which cards you can get approved for.
For instance, if your credit could use some work or you have no credit history, the issuer may offer you Credit One Bank® Visa® for Rebuilding Credit. If you have at least a fair credit score, you may prequalify for Credit One Bank® Platinum Rewards Visa with No Annual Fee or other products.
How to get preapproved for a Credit One Bank credit card
It’s easy to get prequalified for a Credit One Bank credit card. All you have to do is provide some personal information for the bank to perform a soft inquiry. Soft inquiries only require some basic information and don’t have any impact on your credit score, unlike a hard inquiry that may knock off a few points.
There are two ways to check the offers you’re prequalified for. Note, however, that being prequalified doesn’t guarantee approval. It only shows that you’re likely to be approved based on your credit and other factors.
Check for offers on CardMatch™
It’s easy to find cards you’re prequalified for using CardMatch™, a convenient tool by Bankrate that provides credit card offers tailored to your credit profile. To use it, enter some basic information, including your name, email address and the last four digits of your Social Security number. You can also create a free Bankrate account during this step for easier access to CardMatch in the future. Once you’re done, you’ll be matched with qualifying credit card offers from various issuers, including Credit One.
Since there’s no impact to your credit score, this is an excellent way to shop for your next credit card. The best part is, you’ll see options besides Credit One Bank cards, which can help you make a more informed choice.
Check for offers on the Credit One Bank website
You can also go directly to the Credit One Bank prequalification page. On the page, you’re asked to provide some personal information like your address and Social Security number to get Credit One bank offers that you’re most likely to get approved for.
How to boost your chances of prequalifying and getting approved for a Credit One Bank credit card
If you’re only starting your credit journey or working to rebuild your credit, you might feel nervous about your credit card approval chances. Fortunately, there are steps you can take to improve your odds:
Check your credit score
Before you can start working on your credit, you need to know where it currently stands and continue tracking it. While it’s possible to get approved for a Credit One Bank credit card even with a poor FICO score (below 580), it’s essential to improve your scores to get more credit and loan opportunities in the future.
Pay all of your bills on time
Your payment history is the most crucial aspect of your credit score. If you currently have any loans or credit cards, make sure you’re making your payments early or on time.
Pay off credit card debt
To help your credit further, lower your credit utilization—how much you owe in relation to your credit limits. Your credit utilization ratio is the second most important credit score factor, and it’s recommended to keep it below 30 percent to make sure it’s not hurting your credit.
Count your household income
When you’re applying for a credit card, you can list your household income as opposed to your personal income. This can help you bump up your approval chances.
Avoid applying too often
If you apply for multiple credit cards in a short period, credit card issuers may see it as a sign that you’re trying to borrow funds in a dire financial situation—and you might not be able to pay them back. For that reason, try to limit your credit card applications to no more than one in six months, or even a year.
Should you get a preapproved card from Credit One Bank?
It’s comparatively easy to get preapproved for a credit card from Credit One Bank, so it can be a good option to consider if you have a poor or fair credit score. This way, you can check offers without any impact on your credit and compare your options.
Still, remember that preapproval doesn’t guarantee you’ll end up getting the card. Plus, when you do apply for the card, you’ll still get a hard inquiry, whether you’re approved or not.
Keep these things in mind when you’re shopping for a credit card. It’s good to stay on top of the offers and see what you’re prequalified for, but it’s best to commit to applying only when you’re certain it’s the right time—and the right card.