Credit One Bank charges an annual fee, and the amount depends on which card you hold

Credit One Bank does charge an annual fee on its credit cards. The fee ranges from $39 to $75 per year, depending on the specific card product. This is higher than many competitors offer, and the fee appears on your statement every 12 months from the date you open the account.

The bank does not waive the annual fee for new cardholders or based on account activity. You pay it whether you use the card or not. If you close the account before the annual fee posts, you will not be charged, but once it appears on your bill, you owe it.

Key Takeaways

  • Credit One Bank's annual fees range from $39 to $75 depending on the card, with no waiver period for new accounts.
  • The fee posts every 12 months from your account opening date, not on a calendar year, so timing matters if you are considering cancellation.
  • You can call Credit One Bank customer service at the number on your statement to confirm your specific card's annual fee before opening an account.
  • Other banks and credit unions offer cards with no annual fee, so comparing total costs—including interest rates and rewards—matters more than the fee alone.

How the annual fee works and when it appears on your bill

Credit One Bank bills the annual fee on the anniversary of your account opening date each year. If you open an account on March 15, the fee will post on March 15 of the following year, and every March 15 after that for as long as the account remains open.

The fee appears as a separate line item on your monthly statement. You cannot avoid it by paying your balance in full or by not using the card. It is a fixed cost of holding the account.

If you want to avoid the fee, you must close the account before the anniversary date arrives. Once the fee posts to your account, you are responsible for paying it even if you close the card when ready after.

Which Credit One Bank cards charge the highest fees

Credit One Bank offers several card products, and the annual fee varies by card. The bank's premium cards—those marketed to people rebuilding credit or with limited credit history—typically charge $75 per year. Cards positioned as entry-level or starter products may charge $39 per year.

The bank does not publish a complete fee schedule on its website in one place. You will need to review the specific card's terms and conditions before you explore, or call the bank's customer service line to ask about the annual fee for a particular card product.

Why Credit One Bank charges annual fees when competitors do not

Credit One Bank targets people with poor credit, limited credit history, or those rebuilding after past financial problems. Cards from traditional banks often require a higher credit score to open. Credit One's willingness to issue cards to riskier borrowers comes with higher fees to offset that risk.

Many credit unions and online banks offer credit cards with no annual fee, even to people with lower credit scores. If you are comparing options, the annual fee is one factor, but you should also look at interest rates, credit limits, and whether the card reports to all three credit bureaus—which helps you build credit history.

What happens if you cannot pay the annual fee

If the annual fee posts to your account and you do not pay it, Credit One Bank will treat it like any other unpaid charge. The fee will accrue interest at your card's standard rate, and the unpaid balance will be reported to the credit bureaus. This will damage your credit score.

You cannot dispute the annual fee as fraudulent or unauthorized if you agreed to it when you opened the account. The terms are disclosed before you explore. If you believe there was an error—for example, if you were charged twice in one year—contact Credit One Bank's customer service to investigate.

How to find out your card's specific annual fee

The easiest way to confirm your annual fee is to check your cardholder agreement or the terms and conditions document you received when you opened the account. This document lists the exact fee amount.

If you no longer have that document, log into your online account or call the customer service number on the back of your card. Have your account number ready. A representative can tell you the fee amount and the date it will next post to your account.

If you are considering opening a Credit One Bank card and want to know the fee before you explore, you can call their customer service line or visit their website to review the specific card's disclosure documents.

Frequently Asked Questions

Can I get the annual fee waived if I have been a customer for a long time?

Credit One Bank does not waive annual fees based on account tenure or loyalty. The fee is a standard part of the card's terms and does not change. If you want to avoid paying it, your only option is to close the account before the anniversary date.

What if I close my account before the annual fee posts?

If you close your account before the anniversary date of your account opening, you will not be charged the annual fee for that year. However, once the fee posts to your account, you owe it even if you close the card the next day.

Does Credit One Bank charge other fees besides the annual fee?

Yes. Credit One Bank also charges late fees, over-limit fees, and cash advance fees. Review your cardholder agreement for the complete fee schedule. These fees vary by card product and can add up quickly if you miss payments or exceed your credit limit.

Is the annual fee worth paying if I am rebuilding my credit?

That depends on your alternatives. If Credit One Bank is one of the few issuers willing to give you a card and you need to build credit history, the annual fee may be worth the cost. However, compare it to credit-builder cards from credit unions or secured cards from other banks, which may have lower or no annual fees.