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Credit One Bank Nascar Credit Card Review

Credit One Bank Nascar Credit Card Review

I understand why the Credit One Bank Nascar credit card is receiving such poor online reviews from other online writers, it is the same reason why online writers tore into the StarBucks credit card, it is because there is an underlying feeling that somebody is screwing around (“Taking the piss” in British parlance) when they banks make specialty cards like these. Bike reviewers would feel the same if Harley made a Starbucks bike and called it the Pokey Nose. Yet, I find the Credit One Bank Nascar credit card to be one of the most open and transparent credit cards on the market. It is built for people with poor credit, but it has no problem showing you its high APR (Annual percentage rate), and even posts both positive and genuine negative reviews on its website, which is very unusual and very honest. If you have a poor credit rating and are looking for a credit card, then this is a very suitable credit card for you.


The Credit One Bank Nascar Credit Card


The Nascar credit card offers cash back rewards. You get 1% cash back rewards on purchases that are eligible (as discussed later in the article), and you get 2% cash back when you spend money at NASCAR.com. Your reward credits will reduce your credit card balance, but the will not count as payments.

As soon as you sign up for a Nascar credit card, you will be entitled to email or a text notification to inform you that your bill is due. They allow you to choose a payment due date that works for you, and you may gain opportunities to have your credit line increase, but this may include additional fees.

The Credit One Bank Nascar credit card has $0 fraud liability that will protect you from any unauthorized charges. The Nascar Credit One Bank will allow you to access your Experian credit score, but beware of signing up for any free subscriptions for credit scores because they always roll into difficult-to-get-out-of paid subscriptions.


APR Rates And Credit Ratings


The Nascar credit card has credit rates (lending facilities) that vary from excellent and average, all the way down to “Rebuilding.” Here is what you get with each rate. As you can imagine, you get a better deal if you have a better credit rating.

Excellent Rate

First we have the excellent rate that comes with an annual fee of $0, the purchase rate is 20.24% – 26.24% variable APR (Annual Percentage Rate), the rewards are double cash back for Nascar purchases, and 1% cash back with any eligible purchases. The is not specific about what counts as an eligible purchase. We are 100% sure you get 1% cash back when you buy gas or make automotive purchases, but we cannot be sure if you get 1% cash back for all other purchases.

Average Rate

The purchase rate you received if you have an average credit rating is 26.24% variable APR, the annual fee is $39, and the rewards are 1% cash back with eligible gas and automotive purchases, and you will get double rewards for online Nascar purchases.

Rebuilding Rate

The last credit range is the “Rebuilding” rate. With this rate, you have to pay between $75 and $99 as an annual fee. The 26.4% variable APR applies for purchases, and the cash-back rewards are the same as the average rate.


Credit One Bank Nascar Credit Card Additional Information


Once you have applied, you will receive your Visa card within 1-2 weeks. Your application will normally be approved within 2-4 business days.

Your Credit One Bank Nascar credit card has an interest-free period that will last up to 24 days, which is actually more of an extended staring-grace period than it is an interest-free intro offer. The additional cardholder fee is $19, late payment fees can go up to $39, and the returned payment fee is the same as the late payment fee.

The introductory balance transfer and the introductory purchase APR are not applicable because there are on introductory APR offers with this card. This card also has a foreign transaction fees of $1 or 3% of the transaction value, (whichever is higher).


What You Should Look Out For


I will be honest here, our editor feels that this card is more of a fly-by-night novelty card, which I feel is a little unfair, but I am not in charge. As a result, this review isn’t as in-depth as some of our other reviews, so I thought I would add a section here about things that have upset other people in user reviews.

The Annual Fee Depends on Your Credit and on Credit One Bank’s Decision

  • The annual fee for the first year is between $0- $75. On the second year, the annual fee runs between $0 and $99.
  • The fee will be credited to your account and will be on there until the annual fee has been paid off, once paid off it will be removed from your credit line.
  • The second year, to make it easier for you, the Credit One Bank might divide the annual fee to 12 portions, this is so you will be able to monthly bills.

The Credit One Bank Nascar Credit Card Has a High APR

  • If you have an excellent credit score then your APR purchase rate can only go as low as 20.24%, which seems a little unfair for people with a good or excellent credit rating.
  • The Credit One Bank say that if you are a rebuilding your credit rating or have an average rate, then your purchase APR will be 26.24%. To avoid paying interest, you need to off your balance each month within the grace period each month.
  • When it comes to getting a grace period, you will need to wait for Credit One Bank to decide if your account will have one, which you will find out once your have applied for the card. If they say you get no grace period, then they will start charging interest on all the purchases straight away.

There is a Fee for Express Payments

  • When you make a regular payment, it takes around five days to post to your account, which means you need to pay your bill around five days in advance to be on the safe side.
  • If you want your payment to go through faster, then you need to pay an “Express Payment” fee. Use this function, and your payment will show up between one and two business days, but you will be charged $9.95 per transaction.
  • You won’t accrue any fees when you use the standard payment option, but that is the option that takes five days to post.
  • You can use your bank account, ATM card or debit card to make a standard payment.
  • We made a payment and it took seven days to arrive because we paid it in the middle of the week, and the terms and conditions say it takes five working days, which means we had to pay our bill seven days in advance.

Potentially High Cash Advance Fees

  • In some cases with Credit One Bank, you may receive some cash advance fee that could be 8% or $5, whichever one is the greater.
  • In some cases, the cash advance fee that could be 3% or $10, whichever one is the greater.
  • There is no upper credit limit listed, but there is a $300 minimum credit limit.

Changeable Fees And Card Perks

  • Late fees range from between $38 and $39 per transaction.
  • Returned payment fees are between $38 and $39 per transaction.
  • Foreign transactions will cost you 3% of the transaction amount with a $1 minimum fee.
  • 1.0% cash back rewards on eligible gas and automotive purchases, double cash back rewards on Nascar.Com purchases.
  • 1.0% cash back rewards on eligible purchases, double cash back rewards on Nascar.Com purchases.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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