A decent option for building credit but a secured card might be a better fit. Jun 10, 2025 / 7 min
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Heres an explanation for . Bankrate logo
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo
The Credit One Platinum Visa card is a popular credit card option for people looking to build or rebuild their credit. One of the key factors credit card applicants consider when applying for a new card is the credit limit – how much spending power will the card provide? In this article, we’ll take an in-depth look at the credit limits offered for the Credit One Platinum card so you can determine if it’s the right card for your needs.
A credit limit is the maximum amount of credit a lender extends to a cardholder on a credit card It represents the total spending power available on the account Credit limits are based on a variety of factors assessed by the issuing bank, including your credit history, income, and existing debt obligations.
Credit limits play an important role in your overall credit health in a few key ways
-
Utilization rate – This measures how much of your available credit you’re using at any given time. Experts recommend keeping your utilization below 30%. A higher credit limit makes it easier to maintain a low utilization.
-
Credit building – Using a card responsibly over time can help build your credit Having a higher limit and lower utilization demonstrates better credit management
-
Available credit – The higher your limit, the more flexibility you have for large purchases or unexpected expenses without maxing out your card.
Let’s take a closer look at how credit limits work specifically for the Credit One Platinum Visa card.
Credit Limits on the Credit One Platinum Card
The Credit One Platinum Visa is an unsecured credit card aimed at people trying to build credit or rebuild from credit difficulties. When you have little or damaged credit, you generally won’t qualify for the highest limits. The Platinum card offers relatively low minimum credit limits compared to premium cards.
Here are the key details on Platinum card credit limits:
- Minimum credit limit: $300
- Maximum reported credit limit: Up to $1,500
- Average starting limit: $500 – $700
This means if approved, your initial Platinum card limit will likely be somewhere between $300 and $1,500. The actual amount will depend on your qualifications and Credit One’s assessment of your creditworthiness.
Factors that can influence your starting credit limit include:
-
Credit score – In general, a higher score correlates to a higher limit. Applicants with scores in the fair range (580-669) should expect lower limits.
-
Income – Your income level will impact the extent of credit extended. The higher your income, the more buying power you have.
-
Existing debt – Large outstanding balances on other cards or loans may restrict additional credit.
-
Card history – Applicants new to credit cards tend to receive lower starting limits.
How the Annual Fee Impacts Your Limit
One important caveat to understand is that most Credit One cards charge an annual fee. This fee is immediately deducted from your new card’s credit limit when approved.
For example, if you’re approved for a $500 limit but the card has a $75 annual fee, your initial available credit will be $425. The fee brings down your usable limit.
Below are the standard annual fees charged for the Platinum card:
-
Platinum Visa: $0 first year, $99 thereafter
-
Platinum Visa Secured: $39
-
Platinum Visa for Rebuilding Credit: $0 first year, $75 thereafter
As you can see, the annual fee can take a significant bite out of your initial limit, especially if starting at the lower end. Be sure to factor this into your decision when applying for the card.
Increasing Your Credit Limit Over Time
The good news is that responsible use of your Platinum card can prompt automatic credit limit increases over time. This allows you to gradually work up to a higher limit as you build your credit.
Here are some tips to help maximize your chances of getting approved for periodic limit increases:
- Make on-time payments every month
- Keep credit utilization low
- Avoid applying for new credit too frequently
- Build up your credit history length
- Have steady income deposits to your bank accounts
Credit One doesn’t publish the exact criteria they use to determine when an account is eligible for an increased limit. However, periodically requesting higher limits once your credit improves can be an effective strategy.
You can request a credit limit boost by contacting Credit One customer service or logging in online to your account. Just keep in mind that requesting too many increases in a short period may result in denials.
Alternatives for Higher Credit Limits
While the Credit One Platinum card can be a useful starting point, the relatively low credit limits may be restricting for some cardholders. If you need more purchasing power from the start, consider exploring some alternative cards.
Here are a few options that offer higher limits for applicants looking to build or rebuild credit:
-
Capital One QuicksilverOne – Reports limits up to $2,000 for applicants new to credit.
-
Petal Visa – No preset limits, extend credit up to $10,000 based on income and credit factors.
-
Surge Mastercard – Pre-approval will show your max potential limit up to $5,000 or more.
-
OpenSky Secured Visa – Get a credit limit up to your security deposit amount, typically from $200 to $3,000.
Comparing your potential credit limit across a few different card offers can help you find the right card to meet your purchasing needs as you build credit.
Summary
The Credit One Platinum Visa card offers a relatively low minimum credit limit of $300. Approved applicants can expect an initial limit in the range of $500-$700 in most cases.
An annual fee is charged on the card and immediately deducted from your initial limit. So your actual usable credit will start somewhat lower.
Responsible card usage over time may prompt automatic credit limit increases to gradually improve your purchasing power. But requesting periodic increases yourself can be helpful once your credit profile improves.
If you need more initial spending flexibility than the Platinum card’s limits permit, reviewing cards like the QuicksilverOne, Petal, Surge, or OpenSky Secured can provide some alternatives. Comparing credit limit options allows you to find the right card for your spending needs.
The key is to make sure your initial card limit appropriately fits your purchasing habits and financial situation. Understanding the Platinum card’s credit limit ranges provides the insight you need to make an informed decision when applying.
Rates and fees: Annual fee is costly
Although it doesn’t require a security deposit, the Credit One Bank Platinum Visa for Rebuilding Credit is far from a low-cost card. The biggest potential cost to consider is the annual fee: $75 for the first year, then $99 per year after (billed at $8.25 per month). Considering the low initial credit line, that is a lot to pay for not much spending power.
Since the rewards rate is relatively low, the annual fee could make it hard to pocket any cash back. This sentiment is especially true in the second year. You’ll need to spend at least $825 per month (or $9,900 per year) in your bonus categories just to offset the $8.25 monthly fee with cash back rewards.
The card’s APR is also higher than the current average credit card interest rate, but this is common on cards for credit-building. Other common fees include late payment fees, foreign transaction fees, credit limit increase fees, returned payment fees and cash advance fees.
Perks: Earn extra cash back
Credit One Bank Visa cards feature two programs you can use to earn extra cash back and discounts. By linking your card and shopping with participating retailers, Credit One’s More Rewards and Visa Offers + Perks stack extra rewards or discounts on top of your ongoing earnings for eligible purchases.
More Rewards provides deals that offer up to 10 percent bonus cash back, while Visa Offers + Perks is tailored toward online shopping, apparel and dining discounts with select businesses. Earning extra cash back may not be your primary focus as you rebuild credit, but you can enjoy issuer-run rewards programs on this card as you work to improve your credit.
Another nice perk is you can select a new payment due date that is at least six days before or after the original assigned date by calling customer service. You can only change your due date once in a six-month period, but it allows some flexibility if you need it.
What is Credit Ones highest credit limit?
FAQ
What is the maximum credit limit for a Credit One platinum card?
Is it hard to get a Credit One platinum card?
As long as you meet the credit score requirement and a few other requirements, it’s not hard to get a Credit One credit card.Mar 3, 2025
How much can you get on a platinum credit card?
The Visa Platinum credit card offers the following enhanced features: Starting at 12.99% Annual Percentage Rate** Credit lines from $500 to $25,000. No minimum finance charges.
What is a Credit One platinum?
… Platinum Visa® is a decent unsecured credit card for people with fair credit that offers 1% cash back on eligible purchases and charges an annual fee of $39