The Law Office of Paul Mankin

Is Credit One Bank Calling or Harassing You?

Debt Collector Profile: Credit One Bank:

Name: Credit One Bank, N.A. 

Headquarters: 6801 South Cimarron Road, Las Vegas, Nevada 89113 

Phone Number(s): (877) 825-3242   

CEO:  Robert Dejong 

Annual Revenue: US$ 581 million (2017) 


LinkedIn Profile: 

Number of Employees: 625 (2017) 


Founded in 1984, Credit One Bank specializes in the issuance of credit cards. It is a wholly owned subsidiary of Credit One Financial, which is in turn affiliated with Sherman Financial Group, LLC through common ownership. Credit One Bank has issued over seven million credit cards throughout the US., primarily to customers with weak credit. 

Credit One Bank offers no fewer than seven different credit cards, each one subject to its own fees and cash back benefits. Consumers with credit scores as low as 300 can qualify for a secured or unsecured credit card. Because these credit cards are geared towards those with weak credit, people with strong credit, used to better terms, are unlikely to find Credit One’s credit terms acceptable.  

The Credit One Bank Platinum Visa is an unsecured credit card that is available to those with fair (but not poor) credit — no security deposit is required.  Many people with weak credit start out with a secured credit card simply to build their credit, and then graduate to an unsecured card later. Credit One Bank offers a “stairway” back to strong credit; however, many users have complained about various aspects of the system and about Credit One Bank’s behavior. 


Many consumers have complained about Credit One Bank’s debt collection behavior. Following is a summary of their record with two consumer watchdogs, the Better Business Bureau and Consumer Affairs. 


Credit One Bank’s BBB profile displays an “A-” rating (which is virtually meaningless), and one out of five possible stars based on customer reviews. There have been 1,262 complaints filed against Credit One over the past three years. There are also  410 reviews on the BBB website, the overwhelming majority of which are negative. Nevertheless, Credit One Bank has been BBB-accredited since 2011.

Credit One Bank’s record shows  many complaints concerning various banking and collection issues. Consumers assert that Credit One Bank charges its customers without authorization (sometimes repeatedly), and that it often imposes unexplained fees. Consumers also complain that Credit One Bank sends inaccurate financial information to the three major credit reporting agencies — Experian, TransUnion and Equifax. 


Like the BBB, Consumer Affairs is a private consumer watchdog. The following complaints have been recorded on the Consumer Affairs website.

  • Sending regular monthly bills to a non-customer in an apparent case of mistaken identity; 
  • Too many fees for various purposes, many of them counter-intuitive and surprising; 
  • Charging late fees or interest (or bth) against the accounts of customers who always pay on time; 
  • Charging its customers for the privilege of making a payment; 
  • Trying to trick customers into thinking they are Capital One; 
  • Reporting inaccurate information to credit bureaus; and 
  • Many other grievances. 

Since Credit One Bank generally collects that are owed to it, rather than debts that are owed to someone else, it is not considered a “third party creditor” the way that a debt collection agency is. As such, the Fair Debt Collection Practices Act (FDCPA) does not apply to its activities. Many federal and state laws do apply, however — the California Rosenthal Fair Debt Collection Practices Act, for example. Nevertheless, its status as a direct debt collector limits its liability.

Another consequence of Credit One Bank’s status as a direct creditor that keeps it out of court (but doesn’t necessarily limit its liability) is that, like virtually all credit card issuers, it inserts a mandatory arbitration clause into its credit card agreements that keeps most disputes out of court by law. Arbitration proceedings, moreover, are not generally part of the public record.  


One example of the numerous legal actions that have been taken against Credit One Bank occurred in 2016, when a consumer filed a lawsuit against Credit One for over 3,000 telephone calls. These calls occurred despite the consumer demanding that Credit One stop calling him.  

Following is a short list of some of the other lawsuits that have been filed against Credit One Bank: 

Are You a Victim of Debt Collection Abuse? Paul Mankin Can Help You Fight Back 

Many consumers do not realize that even if they are delinquent debtors, they still enjoy considerable legal rights that they are entitled to enforce against abusive creditors — even to the point of turning the tables by demanding compensation from their creditors. If you are being subjected to any form of debt collection abuse, contact the Law Office of L. Paul Mankin, APC for a free consultation. Simply call us at 1-800-219-3577 or fill out our online contact form