What Credit Bureau Does Credit One Platinum Use for Approval? (2024)

FAQs

What Credit Bureau Does Credit One Platinum Use for Approval? ›

The Credit One Platinum mainly uses Experian to check your credit when you apply, though Credit One may use TransUnion or Equifax instead, according to anecdotal evidence. So, if any of your credit reports are frozen, you should unfreeze them before applying for the card.

Credit One Bank American Express® Credit Card - Experian.

Plus earn unlimited 1% cash back on all other purchases. Perhaps the biggest reason to apply for the Credit One Bank^® Platinum Visa^® is that it accepts applicants with Fair / Good credit (generally, a FICO Score between 580 and 739).

Since Credit One's annual fee is lower than Discover's minimum deposit requirement, you can get started with a $300 credit limit even if you don't have $300 to deposit.

Rodney Brooks, Member. Capital One will report your Capital One Secured card activity to all three of the major credit bureaus: Experian, Equifax, and TransUnion. This is pretty typical of most credit cards, including other secured cards. This answer was first published on 01/30/20.

Low credit limit to start

If your application is approved, the minimum credit line on this card is $300, which is on the low side.

The starting credit limit for the Credit One Bank® Platinum X5 card is $500 or more; everyone who gets approved for this card is guaranteed this limit. However, depending on your credit standing, you could get a much higher credit limit.

The credit limit of a platinum credit card will depend on the applicant's credit history, income, and debt. Seeing "platinum" in a credit card's name does not guarantee a high limit, as minimum credit limits for unsecured platinum cards typically range from $300 to $5,000 or more.

It is an unsecured credit card, meaning it does not require a security deposit. Unlike many credit cards of this genre, it even earns 1% cash back on eligible gas, groceries, mobile phone service, internet service, cable and satellite TV purchases, in several of the most popular spending categories.

What is the highest credit limit from Credit One? ›

The maximum credit line for a Credit One credit card is not publicly disclosed by the issuer, though there are reports of cardholders receiving credit lines as high as $5,000 on some cards. If approved for a Credit One card, applicants can expect a minimum initial credit line of $300 to $500.

Credit One Platinum's maximum credit limit is around $2,000, according to customer reviews. Some people report being approved for this amount right away, while others have worked up to it over years of responsible card use. The minimum credit limit for Credit One Platinum is just $300.

Yes, you can use a credit card before it arrives in the mail, but only with certain cards.

What is the maximum Capital One Platinum credit limit I can get? The Capital One Platinum credit limit can be as high as $3,000 according to online cardholder reports, but it will depend entirely on the specifics of each applicant's credit and their overall financial situation.

You'll earn 1.5% back on purchases, plus 5% back on hotels and rental cars booked through Capital One Travel. But it does have an annual fee.

Although Experian is the largest credit bureau in the U.S., TransUnion and Equifax are widely considered to be just as accurate and important. When it comes to credit scoring models, however, there is a clear winner: FICO® Score is used in roughly 90% of lending decisions.

PenFed Credit Union is the only loan company that uses only your Equifax credit data. In most cases, you won't be able to determine beforehand which credit bureaus your lender will use. In some cases, lenders will pull your credit report from two or even all three major credit bureaus.

It is owned by Sherman Financial Group, which runs one of the largest buyers of consumer debt in the United States. Despite the similar names and "nearly identical" logos, Credit One is not affiliated with the much larger Capital One.

Credit One credit card approval odds are best for people with a fair credit score of 640+, though people with bad credit scores (under 640) or no credit history may still have good approval odds for certain Credit One cards. Applicants also must be 18+ years old with a U.S. mailing address and an SSN.