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NASCAR® Credit Card from Credit One Bank®
REVIEW

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If you are a NASCAR fan, you would be pleased that they have teamed up with Credit One Bank and recently launched their affinity card. This card allows you to earn rewards from purchases at nascar.com.

By : Mr Credit Card

Introduction

Nascar has partnered with Credit One to launch their affinity credit card and in doing so, has done it with a slight twist that no other card has done before (to our knowledge). In a nutshell, whether you have good, excellent or even bad credit, you stand a chance of getting approved for this card. Depending on the type of credit you have, you might have to pay an annual fee and you might get a slightly different reward program. So let's get right down to it
 

Card Details

Annual Fee - $0 to $99

APR : 17.40% to 24.90%

The reason there is a range in fees and rates is because the annual fee and interest rate that you will get will actually depend on your credit (or rather Credit One's assessment of your credit). According to their website, these are the fees and rates you might get:

Excellent Credit - If you are deemed to have very good credit, then there is no annual fee. Your APR will range from 17.40% to 23.40%. For rewards, you will earn 2% cash back for nascar.com purchases* and 1% cash back for all other purchases*.

Average Credit - If you have average credit, then your annual fee will range from $35 to $75. You will still be able to earn 2% cash back on nascar.com purchases* and 1% cash on gas and automotive purchases*. This is in contrast to the "excellent credit version" where you will earn 1% cash on all other non-nascar.com purchases. Your APR will be 18.65%

Rebuilding Credit - If your credit is bad and you are in the rebuilding phase, then your annual fee will range from $75 to $99. The APR will range from 20.65% to 24.90%. The rewards will be the same as the "average credit version" in that you earn 2% cash back on nascar.com purchases* and 1% cash back on gas and automotive purchases*.

* - Terms Apply
 

Competition

As every one of our card reviews, we will try to compare it with it's peers. This card is a little more complicated in the sense that depending on your credit, the terms and conditions are slightly different. So we'll try to compare this card based on credit worthiness.

If you have good to excellent credit, you will be able to get a no annual fee credit card. And this card is comparable in this aspect to it's peers. There are some store cards or affinity cards that let's you earn more than 2X on their merchandise (vs 2% for nascar.com purchases). But if you are a Nascar fan, this should not bother you.

The average credit version charges an annual fee that ranges from $35 to $75. There are several cards that specifically target folks with average credit. For example, the Capital One Platinum QuickSilver has a $39 and offers 1.5% cash back on all purchases. USAA has a few version of cards called the "Classic" that is targeted at folks with average credit and the annual fee is $35. BarclayCard has a card called the Rewards MasterCard that has no annual fee and allows you to earn 2X on gas, groceries and utilities.

Cards Annua
Fee
APR Rewards
Indigo $0 or $35 23.9% N.A.
BarclayCard
Rewards
MasterCard
$0 25.24% 2X gas
groceries
utilities
Cap One
Platinum
$0 24.99% N.A.
Cap One
QuicksilverOne
$39 23.24% 1.5% Cash Back
All Purchases
USAA
Classic
$35 18.15% to 24.15% N.A.


If you have bad credit, then the annual fee will be between $75 and $99. This is actually very reasonable compared to other sub prime cards in the market, which also tend to charge monthly maintenance fees on top of annual fees. Many sub prime cards also charge a one-time application fee. Furthermore, most sub prime cards do not have reward programs (unlike this card). In fact, this card is very similar to Credit One's other cards in terms of fees, rates and even reward program (excluding nascar).

Cards Annual Fee Monthly
Maintenance Fees
One-time
Processing Fee
APR
Credit One $0 to $99 N.A. N.A. 16.99% to 24.99%
Surge Y1 = $125
Y2 Onwards = $96
Y1 = $0
Y2 Onwards
$10 monthly
$120 annually
N.A. 29.9%
Verve Y1 = $125
Y2 Onwards = $96
Y1 = $0
Y2 Onwards
$10 monthly
$120 annually
N.A. 29.9%
First Access Y1 = $75
Y2 Onwards = $48
Y1 = $0
Y2 Onwards
$6.25 monthly
$75 annually
$89 29.9%
Total Visa Y1 = $75
Y2 Onwards = $48
Y1 = $0
Y2 Onwards
$6.25 monthly
$75 annually
$89 29.9%
First Premier Y1 = $75
Y2 Onwards = $45
Y1 = $0
Y2 Onwards
$6.25 monthly
$75 annually
$95 36%

Our Take

If you are a nascar fan and want to earn cash back from buying stuff on nascar.com, then I would say go for this card. Even if your credit is less than perfect, you'll have a much better chance of getting approved for this card (even though you might end up paying an annual fee).

If you have average credit and are considering this card, it is not a bad choice either. Though if you are not a nascar fan, you might want to consider a card like the Barclaycard Rewards MasterCard, which has no annual fee and but has a reward program.

If you have bad credit, this would also be a good card to get because the annual fee is very reasonable and you also get a reward program. If you are not a nascar fan, you might want to consider some of Credit One's other cards. They have an almost identical fees and rates and also a reward program.
 

 



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