Credit One Platinum Premier Review – 5% Back On Gas, Grocery & More Each Year ($5,000 Cap) – $95 Annual Fee

Credit One offers the Platinum Premier Visa card, let’s take a look at this card in this mini review.

Card Basics

  • Annual fee of $95
  • Card earns 5% on the first $5,000 each year in the following categories:
    • Gas
    • Grocery,
    • Internet,
    • Cable,
    • Satellite TV,
    • Mobile phone service purchases
  • Card earns 1% back on all purchase

Our Verdict

Assuming you spend $5,000 in just the 5% categories you’d earn $250, but after the $95 annual fee that brings it down to $155 and brings down the effective earn rate to 3.1%. There are other cards that earn at higher rates on gas and grocery purchases. Personally I don’t think this card is worth signing up for at all.
    William Charles
  • On January 16, 2020, 12:00

View Comments (30)

  • Glad I came here to read up on this card before applying for it. It's similar logo to Capital One and it's 5% cb and that shiny Red color are what made me look into it. After reading the comments I certainly won't be applying for this card.

  • Remember, It's credit one, they never keep their side of the deal, and will charge you hidden fees, and make you feel like it's your fault.

  • They could launch a card with 50% cash back up to $200 spent annual limit and 1% afterward with $95 annual fee :3

  • Last time I checked, Credit One starts charging interest immediately after you make a purchase so even if you pay off your card every month, you will still pay interest. Unless that's changed, it doesn't really matter what rewards they offer. It will never be worth it.

    • Wow, you’re right.

      When Interest Begins: We begin to impose interest on a transaction or fee from the day we add it to the daily balance. We continue to impose interest until you pay the total amount you owe us. There is no grace period and you cannot avoid paying interest on Purchases, Balance Transfers or Cash Advances.

      • Not MY card terms of agreement. Interest on this card DOES have a grace period. I would not have applied otherwise. I was shocked as well, because I know Credit One does do that practice of charging interest right away.

  • As someone who has worked in retail and restaurants, I always had a slight inward chuckle when I would be handed a low rent card such as the type that Credit One or Primor offers. The rewards aren't anywhere enough to overcome the fear that someone will recognize I've been relegated to bottom feeder status in the credit game.

    • Nothing like feeling superior right? Though you probably should be more concerned with the fact that you have even relegated to bottom feeder status in the employment game...js

  • Two things that I would caution. First, is that Credit One charges interest immediately there is no grace period. Second, there is many comments on the internet about how Credit One will not allow more than 4 payments per month.

    • This card, which I have, does NOT charge interest immediately. This is one of those Credit One cards that is for a greater than subprime market. There IS a grace period. I was surprised as well. But it's true

  • At first blush I thought they were on to something, then realized it is a cap of $5000 total. I thought it was $5000 in each of the 6 categories.

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