Does the Credit One Platinum Visa Card Require Credit History?

The Credit One Platinum Visa is Credit One Bank’s credit card designed for those trying to rebuild their credit score. With ample credit line increases and the ability to choose your payment due date, the benefits of this card are most helpful for those who struggle to regularly pay off their credit card debt. Those with an extremely low credit score are able to qualify for this card; thus, the APR and fees are higher than other cards to account for this liability. Although you are still likely to qualify for the Credit One Platinum Visa card, those with no credit history whatsoever should stick to a secured or student credit card for their first card.

What Does No Credit History Mean?

Credit scores in the United States range between 300 and 850, with 850 being the highest. A common misconception is that those with no credit history start off with a score of 300. In reality, you usually start off with a score around 630. Since the Credit One Platinum Visa is directed towards those on the lowest end of the credit score spectrum, it makes no sense to apply for this card if you have no prior credit history since you can qualify for much more valuable cards.

No credit history means that the credit bureaus don’t have enough information on your past borrowing habits to determine an exact level of financial responsibility. Thus, the bureaus will automatically give you a score around 630 as a starting point. Only those who have never had a credit card or taken out a loan or mortgage carry zero credit history. Even failing to pay a parking ticket, utility bill, or medical bill can impact your credit score. Therefore, it is extremely rare for anyone other than young adults to have no credit history. 

Credit One Platinum Visa

As mentioned earlier, almost anyone can qualify for the Credit One Platinum Visa card. With an annual fee between $0 and $99 and 1% cash back on some purchases, the card can be worthwhile for some. However, those with no credit history can qualify for much better credit cards since they start off with a score in the 600s. We recommend first time credit card owners to begin their credit building journey with a student card if they’re in college or a secured card. Either one will help you learn the ropes on maintaining a credit and provide more valuable benefits.