The Credit One Bank American Express® Card is a credit-builder card aimed at consumers with fair to average credit. Launched in 2019 and still offered in 2025, it provides a simple flat-rate rewards structure: unlimited 1% cash back on all purchases for a $39 annual fee.
It is “a card for fair credit” that comes with standard Amex perks like shopping protections, travel benefits and access to Amex Offers.
The account is unsecured (no security deposit required) and includes credit-building features – it reports your payments to all three major bureaus. This makes it useful for building credit, especially when paired with its basic rewards.
Rewards and Benefits
Rewards on this card are straightforward. You earn an unlimited 1% cash back on every purchase, with no extra categories or points to manage.
The cash-back is “automatically redeemed as a statement credit” each billing cycle, making it easy to see the benefit.
Beyond cash back, the card delivers the usual American Express-style benefits.
Cardholders get access to the Amex Offers program (special discounts and bonus rewards at participating retailers) and Amex Experiences (such as pre-sale ticket access).
Protections include purchase protection (covers accidental damage or theft on qualifying purchases), return protection, rental car insurance and zero fraud liability.
The card also provides free credit score tracking and online credit monitoring, since it reports activity to all three bureaus – features typical of credit-builder cards but not always found on reward cards.
In short, you get a no-frills 1% rewards rate plus the extra shopping and travel perks that come with American Express branding.
Fees and APR
The costs of the card are on the high side. The annual fee is $39, charged every year regardless of spend. There are no 0% introductory APR offers on this card.
The ongoing purchase APR is very high – NerdWallet notes that “all of the Credit One credit cards charged a variable APR topping 29%” as of early 2024. In practice the Credit One Amex’s APR is around 29.5% (Credit Karma lists it at 29.49% variable).
Carrying a balance can become expensive. Bankrate explicitly warns that the “high APR can be punishing if you carry a balance”. In other words, you should plan to pay in full each month to avoid steep interest.
There is also a foreign transaction fee (either $1 or 3% per purchase, whichever is greater) and late/returned payment fees up to $39. Overall, the rewards are modest and the interest is high, so the card is best used for paying off the balance every month.
Credit Requirements
This card is designed for fair-to-average credit scores. NerdWallet says it’s intended for people with “average to excellent” credit, while Bankrate notes a recommended FICO range of about 580–740 (fair to good) for approval.
Applicants with poor or very low scores may not qualify. Because it’s an unsecured credit card, you do not need to put down any deposit to open the account. However, initial credit limits tend to be low: many new cardholders report starting limits of only $300, and Bankrate highlights that the minimum is $300.
A low limit means you’ll need to use the card sparingly to keep your credit utilization down. On the plus side, because it reports to all three bureaus, responsible use (on-time payments, low balances) can help improve your credit over time.
What Cardholders Say
User feedback on the Credit One Amex card is mixed. On Credit One’s own site, cardholders give mostly positive comments. One new user wrote they were “very impressed with the response in getting my new card, and the easy process of activation”.
Another said “Credit One is an excellent company to work with” and found the mobile app “easy to navigate” for payments. A third cardholder simply noted that “having a card that gives you cash back is awesome”. These reviews praise the fast approval/activation process and the convenience of earning 1% back.
However, independent review sites show some customer complaints. For example, on Credit Karma one user gave a detailed 5-star review complaining that the $39 fee was charged before they even activated the card, calling this practice “deceptive”.
Another user (1-star) wrote that the issuer “overcharge[s] for everything” and described confusing billing issues when making payments. In summary, many cardholders seem satisfied with the basic rewards and convenience, but others are frustrated by the fees and billing practices.
As always, it’s wise to read a range of user reviews and understand the fee structure before applying.
How It Compares
The Credit One Amex card occupies a middle ground among fair-credit cards. Its simple 1% cash back and $39 fee are modest compared to some of Credit One’s pricier products.
The Amex’s $39 annual fee is significantly lower than Credit One’s Wander or Platinum X5 cards (each $95 per year). Still, its rewards rate is lower than most premium cash-back cards. Many similar cards offer no annual fee.
For instance, Credit Karma highlights that alternatives like the Petal® 2 Visa® and Capital One Platinum cards are aimed at fair-credit users and charge no annual fee while offering rewards.
If you don’t need rewards you might consider a secured or no-fee card – for example, the Capital One Platinum Secured (no fee) or even the Credit One Wander Amex for higher gas/travel rewards.
In practice, this Amex card is best suited to someone who specifically values the Amex benefits (like purchase protections and Offers) and doesn’t mind the fee for a straightforward flat-rate reward. Those seeking higher cash-back or no fees may find other options that better fit their needs.
