Credit One has partnered with Nascar to become their official credit card issuer in a multi year deal, they have also partnered with Chip Ganassi Racing to become their primary sponsor. Credit One is one of the ten biggest Visa credit card issuers in the United States with a focus on sub prime cards.
Nascar Credit Cards
They are offering three versions of the Nascar card, based on a users credit history/score. Information on each card can be found below.
Excellent Credit
- No annual fee
- 16.65% – 22.90% variable APR
- Card earns at the following rates:
- 1% Cash Back on All Purchases
- Double Cash Back on NASCAR.com Purchases
Average Credit
- Annual fee of $35-$75
- 17.90% variable APR
- Card earns at the following rates:
- 1% cash back on Gas and Automotive Purchases
- Double Cash Back on NASCAR.com Purchases
Rebuilding Credit
- Annual fee of $75-$99
- 19.90% – 23.90% variable APR
- Card earns at the following rates:
- 1% cash back on Gas and Automotive Purchases
- Double Cash Back on NASCAR.com Purchases
Our Verdict
These cards are extremely lackluster, it’s possible to get 2% cash back on all purchases and up to 5% cash back on gas purchases with no annual fee. Even for people with terrible credit, they could get the Discover it secured card and get 1% cash back on all purchases and 2% cash back on gas/restaurants (limit of $1,000 per quarter) with those rewards being doubled for the first year.
Credit One does let you see if you’re pre-approved for this card before applying and offers a free credit score, which is something I guess.
If you like doing business with Sherman Financial, which owns Credit One and LVNV Funding, one of the largest and shadiest collection agencies and junk debt buyers in the US, go ahead an apply. Even if this card offered good rewards, I would avoid doing business with them at all costs.
It should be pointed out that, at least on their subprime cards, there is NO grace period. You being paying interest the moment a transaction posts.