Credit One Bank Platinum X5 Visa

By Raquel Oliveira • 04/08/2025

This credit card is perfect for those who want many benefits and enjoy all related advantages.

The Credit One Bank Platinum X5 Visa is a solid option for individuals looking to build credit while earning cashback rewards.

With a generous 5% cashback rate on essential purchases like gas, groceries, and household bills, this card provides valuable savings on everyday expenses.

However, the card does come with some notable drawbacks, including a $95 annual fee and a high APR of 28.99%, which can make carrying a balance costly. Additionally, it has a low starting credit limit of $500, which may not be ideal for larger purchases.

For those who spend heavily in the 5% bonus categories and pay off their balance in full each month, the Credit One Bank Platinum X5 Visa can be a good choice for earning cashback while building credit.

5% rewards on everyday purchases

The Credit One Bank Platinum X5 Visa card offers a great chance to earn 5% cash back on important purchases like gas, groceries, internet, mobile phone services, cable, and satellite TV.

You can earn 5% on the first $5,000 spent each year, and after that, it drops to 1%. Plus, you get 1% back on all other purchases. This is a nice perk, especially compared to other cards that only offer 1% or 1.5%.

The 5% rewards are definitely attractive, but keep in mind the $5,000 limit per year. If you spend more than that on these categories, you won’t earn the higher cash back rate. 

Pros and Cons

Before deciding if the Credit One Bank Platinum X5 Visa is for you, it’s important to think about both the good and the not-so-good parts of the card.

Pros

• Earn 5% cash back on select purchases
• Great rewards for those with fair credit
• Standard Visa benefits (fraud protection, roadside assistance)

Cons

• $95 annual fee
• Limited 5% cash back categories
• High APR

How do I know if the credit one bank platinum x5 visa is the best credit card for me?

The Credit One Bank Platinum X5 Visa is a good choice if you have fair credit and want to earn cash back on everyday spending. 

The 5% cash back in categories like gas and groceries is a great deal if these are expenses you regularly have. But before you apply, think about your spending habits and your credit score.

If you can manage the $95 annual fee and keep your balance low to avoid high interest, this card could work well for you. 

Why do we like this card?

We like the Credit One Bank Platinum X5 Visa because it offers great rewards for people with fair credit. The 5% cash back on things like groceries, gas, and phone bills is a big draw. These are common expenses, so it’s nice to earn extra rewards on things you’re already buying.

The rewards program is simple and easy to use. You earn 1% cash back on all other purchases, so you’re always earning something. Plus, Visa benefits like roadside assistance and fraud protection are included, giving you added value.

While the $95 annual fee and high APR are something to consider, the rewards and benefits make this card a solid choice if you’re looking to build credit while earning cash back.

Conclusion

The Credit One Bank Platinum X5 Visa is a good option for individuals looking to build credit while earning cashback rewards. With 5% cashback on gas, groceries, and household bills, it provides solid savings opportunities on everyday expenses.

However, the $95 annual fee and high APR make it less ideal for individuals who carry a balance. The low starting credit limit may also feel limiting for some users.

If you pay off your balance each month and take full advantage of the 5% cashback categories, this card can be a useful tool for saving money while improving your credit.