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This article was last updated Oct 02, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
You’ve had issues with your credit in the past, but you’re working hard to improve your score now. You may be ready to get a new credit card from Credit One Bank, which is known for offering credit cards to people looking for a second chance.
One of the cards Credit One offers is the Official NASCAR® Credit Card from Credit One Bank®. You can apply for this card even if you have bad/poor credit. And it’s attractive for NASCAR fans and drivers since it offers rewards for gas and automotive purchases.
But after reviewing the card, we found a few cons to consider. The perks on this card are paltry compared with alternatives on the market and it comes with a $0 - $99 annual fee that is taken out of your initial available credit limit.
There are a few other cards out there for those with less-than-stellar credit that have lower annual fees and even offer some nice travel and purchase perks. So before you decide to apply for the Official NASCAR® Credit Card from Credit One Bank®, see what else is out there.
Where the Official NASCAR® Credit Card from Credit One Bank® stands out in its category
While you are required to pre-qualify for the Official NASCAR® Credit Card from Credit One Bank®, it’s done via a soft pull inquiry. This means that it won’t hurt your credit score if you’re not eligible for the card. Credit One will also automatically recommend other cards you may be eligible for. Note: if you apply for the card, a hard inquiry will be performed.
For the Official NASCAR® Credit Card from Credit One Bank®, you will receive:
- 1.0% Cash Back Rewards on eligible Gas and Automotive Purchases, Double Cash Back Rewards on NASCAR.com Purchases; or
- 1.0% Cash Back Rewards on eligible Purchases, Double Cash Back Rewards on NASCAR.com Purchases.
You’ll get your cashback reward in the form of an automatic statement credit.
Credit One regularly reviews your account and may give you a chance to increase your credit limit, which may ultimately help you improve your score if you use the new limit responsibly.
Credit One allows you to choose your own payment due date, which is a nice boon for folks who are living paycheck to paycheck and can benefit from bill flexibility.
Where the Official NASCAR® Credit Card from Credit One Bank® falls short in its category
You only earn rewards on gas/automotive, NASCAR.com and eligible purchases (terms apply), depending on which card you apply for. So if you dine out, travel and/or buy groceries regularly, you’re out of luck getting cash back in these popular categories.
Your rewards are redeposited into your account as an automatic statement credit, so you can’t get actual cash back.
Adding an authorized user isn’t free and will set you back $19.
The card’s $0 - $99 annual fee — determined after you are accepted — is taken out of your credit limit, which starts at $300. While you can get a credit limit increase, it may come with a fee.
If you decide to travel outside the country with this card, watch out — it charges a foreign transaction fee of 3% or $1.00, whichever is greater. If you’re looking for travel and purchase perks with this card, don’t bother because this card doesn’t have them.
Compare with the Capital One® QuicksilverOne® Cash Rewards Credit Card
1.5% Cash Back on every purchase, every day
No rotating categories, cash back won't expire for the life of the account and no limit to how much you can earn
- Earn unlimited 1.5% cash back on every purchase, every day
- Earn cash rewards without signing up for rotating categories
- Get access to a higher credit line after making your first 5 monthly payments on time
- Monitor your credit profile with the CreditWise® app, free for everyone
- $0 fraud liability if your card is ever lost or stolen
- No limit to how much cash back you can earn, and cash back doesn't expire for the life of the account
- Help strengthen your credit for the future with responsible card use
- Get customized alerts and manage your account with the Capital One mobile app
See additional details for Capital One® QuicksilverOne® Cash Rewards Credit Card
The Capital One® QuicksilverOne® Cash Rewards Credit Card is a good option for those with average/fair/limited credit. The card’s 1.5% Cash Back on every purchase, every day is better than the Official NASCAR® Credit Card from Credit One Bank® because you’re rewarded no matter what you buy with the card. And those rewards are unlimited.
The Capital One® QuicksilverOne® Cash Rewards Credit Card comes with the travel perks including auto rental insurance; travel accident insurance; and 24/7 travel and roadside assistance. You can travel outside the country with this card because it doesn’t come with a foreign transaction fee.
Like the Official NASCAR® Credit Card from Credit One Bank®, the Capital One® QuicksilverOne® Cash Rewards Credit Card offers free access to your credit score and tools to monitor it. The Capital One® QuicksilverOne® Cash Rewards Credit Card starts with a minimum $300 credit limit, and that limit could be raised after you make your first five monthly payments on time. But the Official NASCAR® Credit Card from Credit One Bank® only notes that future credit line increases may be granted based on overall credit performance.
Your rewards on the Capital One® QuicksilverOne® Cash Rewards Credit Card don’t expire as long as your account remains open, and there’s no cap on how many rewards you can earn. You can get your cash back as a statement credit or a check, and you can set up automatic redemptions either at a set time each year or when a specific monetary threshold is reached.
Here are the key features of the two cards:
|Official NASCAR® Credit Card from Credit One Bank®||Capital One® QuicksilverOne® Cash Rewards Credit Card|
|Annual Fee||$0 - $99||$39|
|Regular Purchase APR||19.49% -25.49% Variable||26.74% (Variable)|
|Rewards||1% Cash Bank on Eligible Gas and Automotive Purchases and Double Cash Back at the NASCAR.com Shop, terms apply||26.74% (Variable)|
|Foreign Transaction Fee||3% or $1.00, whichever is greater||None|