Credit One Vs. Capital One: Which Is Better For Rebuilding Credit?

Despite their similar names, Credit One and Capital One are separate businesses. Both companies issue several credit cards, making some people think they’re related. But while Capital One has more name recognition, Credit One may appeal more to those looking to build credit.

Here’s a closer look at some cash back and credit-building credit cards from both companies.

Cash back credit cards

If you’re in the market for a card that allows you to earn cash back rewards, you’ll find solid options with Credit One and Capital One.

Credit One Platinum X5 Visa

The Credit One Platinum X5 Visa is the bank’s premium rewards card, appealing to people looking for a card that offers elevated rewards for monthly bills. This is especially true if you have less-than-excellent credit, as this card is more accessible than Capital One’s.

The card offers 5% cash back on everyday items such as gas, groceries, internet, cable, satellite, TV, and mobile phone services. This applies to the first $5,000 spent each year. Afterward, you get 1% cash back on all purchases.

If you max out the 5% earning category each year, you’ll earn $250—more than enough to offset the card’s $95 annual fee. You can earn up to 10% cash back at participating merchants as a bonus. The card’s variable annual percentage rate (APR) is 29.74%.

Capital One Savor Rewards

Like the Platinum X5 Visa, the Capital One Savor Rewards is a cash-back credit card with a $95 annual fee and variable APR of 19.99% - 29.99%. However, its earning categories are a bit more complicated:

• Up to 8% cash back on Capital One Entertainment purchases.
• 5% cash back on hotels and rental cars booked through Capital One Travel.
• 4% cash back on dining, entertainment, and select streaming services.
• 3% cash back on groceries.
• 1% cash back on all other purchases.

This card’s biggest drawback is that it requires excellent credit to qualify. If you have good but not excellent credit, you may qualify for the SavorOne Rewards for Good Credit card. That card only pays 3% rewards on dining, entertainment, and streaming, but it waives the annual fee, so it’s worth considering.

Credit-building credit cards

Capital One and Credit One offer the following cards for customers with damaged or limited credit, allowing them to build or rebuild their credit scores.

Credit One Platinum Visa for Rebuilding Credit

The Credit One Platinum Visa is aimed specifically at people who have damaged their credit scores and need the chance to rebuild them. It has an annual fee of $75 in the first year and $8.25 per month ($99 per year) after that.

In exchange for that fee, you’ll receive a few perks. For example, the card offers cash-back rewards for some purchases, including 1% on eligible gas and grocery purchases and monthly mobile phone, internet, cable, and satellite TV services. You can also earn up to 10% at participating retailers. Capital One also gives you free online access to your credit score, so you can track your progress.

Capital One QuicksilverOne

The Capital One QuicksilverOne is aimed at people with fair credit, so it might not be best for someone with severely damaged credit. Still, it’s a great option if you qualify.

At $39 per year, it has a lower annual fee than Credit One’s version. Like the Platinum Visa, it also offers cash back, letting you earn 1.5% on all purchases, not just in certain spending categories. That means you’ll earn enough to cover the fee if you spend $2,600 per year ($216.67 monthly) on the card. And as of July 2024, you also get a free, six-month Uber One membership.

QuicksilverOne also gives you access to CreditWise, a service that helps you see how decisions—such as increasing your card balance or paying off a loan—will impact your credit over time.

TIME Stamp: Similar, but one is better for rebuilding credit

Credit One and Capital One are two separate companies that offer similar credit card services. Capital One has more options and offers other financial services—making it a good choice if you want to keep all your banking in one place. But Credit One has more options for people with bad or fair credit, so it may be best for you if you’re looking to rebuild.

Frequently asked questions (FAQs)

Is Credit One owned by Capital One?

No, despite their similar names, Credit One and Capital One are separate companies and not affiliated.

What's the highest credit limit for Credit One?

Credit One doesn’t publish maximum credit limits for any credit card. The credit limit you receive will depend on your credit score and other factors—but some consumers have reported credit limits as high as $5,000 on some Credit One cards.

Is Credit One Bank good for building credit?

Credit One can be a good card issuer to work with if you’re looking to build or rebuild credit. Many of its cards are aimed at people looking to improve their credit scores. However, many of these cards carry an annual fee, so first look at no-fee alternatives to see if you can qualify.