Credit One Bank

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Credit One Bank, N.A.
IndustryFinancial services
FoundedSan Rafael, California (1984)
HeadquartersLas Vegas, Nevada[1]
Key people
Robert DeJong (CEO)
ProductsCredit cards
RevenueUS$ 581.565 million (2017)[1]
US$ 142.804 million (2017)
Total assetsUS$ 323.697 million (2017)
Total equityUS$ 173.574 million (2017)
Number of employees
625 (2017)

Credit One Bank, N.A. is an American bank and financial services company specializing in credit cards, particularly for borrowers with low credit scores. It is a wholly-owned subsidiary of Credit One Financial, incorporated in Nevada. Credit One Financial is an S corporation that is affiliated with Sherman Financial Group through common beneficial ownership.[1][2] Despite the similar names and "nearly identical" logos, Credit One is not affiliated with the much larger Capital One.[3]


Credit One Bank began operations as a full-service bank under the name First National Bank of Marin (FNBM) in San Rafael, California, on July 30, 1984. FNBM maintained a wide range of products until 1995 when it began focusing primarily on two types of products, partially and fully secured credit cards. FNBM received a limited purpose designation from the Office of the Comptroller of the Currency (OCC), a bureau of the United States Department of the Treasury, in June 1996. Limited purpose banks offer only a narrow product line. The bank moved from San Rafael, California, to Las Vegas, Nevada, in November 1998. FNBM obtained its CEBA status in March 2005 and subsequently changed its name to Credit One Bank, N.A. on February 1, 2006.[citation needed]

In 2018, Credit One Bank moved its headquarters to a new facility.[4][5] In 2021, the bank expanded its headquarters.[6]


Credit One Bank started sponsoring Chip Ganassi Racing in 2016. In 2017, Jamie McMurray drove a Credit One Bank No. 1 car for four races. The next year, the bank changed its sponsorship to Kyle Larson, who drove a sponsored No. 42 car in eight Monster Energy Cup events and two NASCAR Xfinity Series events. After Target’s departure from NASCAR after 2017, Credit One Bank became Larson's primary sponsor for the No. 42 Chevrolet starting the following season.[7] Since 2016, Credit One Bank has been sponsoring the broadcast of the white flag lap of most NASCAR races.[8]

In 2017, Credit One Bank became a sponsor of the National Hockey League's Vegas Golden Knights in their inaugural season.[9]

In 2019, Credit One Bank became a founding partner with Minor League Baseball's Las Vegas Aviators, a Triple-A affiliate of the Oakland Athletics.[10] Credit One Bank is also a sponsor of the Las Vegas Raiders.[11]

Credit One Bank sponsored a 2020 women's tennis tournament, The Credit One Bank Invitational.[citation needed]


The Better Business Bureau's profile for Credit One Bank includes an alert reading, "BBB files indicate that this business has a pattern of complaints concerning billing/collection issues. Complainants allege that this Credit One Bank charges consumers, sometimes repeatedly, without authorization, which may include late or unexplained fees. Complainants also allege that Credit One Bank forwards incorrect information to credit reporting agencies such as Equifax, Experian and TransUnion."[12][3]

The Motley Fool gave a one-star (out of five) review to Credit One Bank's credit card. The review praised the bank for making the card available to customers with poor credit and for offering cash-back incentives, while criticizing the card's complicated application process and high fees.[13]

On June 9, 2022, The Wall Street Journal reported: "A bankruptcy judge found Credit One Bank liable to roughly 288,000 credit-card customers, saying the bank lied about turning over all its documents."[14]

The Wall Street Journal reported that the Sherman Financial Group, Credit One's parent company, increased its litigation activity against customers with delinquent accounts during the COVID-19 pandemic at a time when many other financial companies had decreased theirs.[15]

The Credit One Bank logo and the Capital One logo both have an arcing "swoosh" above their names. This has led to some confusion among consumers. Credit One Bank adopted their black and blue logo in 2006 after they changed their name, and Capital One adopted their blue and red logo in 2008. Capital One's subsequent $13 billion marketing campaign led to a large number of new customers for both itself and Credit One, some of whom were unaware that the two were different companies.[4]


  1. ^ a b c "Community Reinvestment Act Performance Evaluation" (PDF). Archived (PDF) from the original on December 10, 2019. Retrieved December 10, 2019.
  2. ^ (PDF) Archived from the original (PDF) on 2011-07-21. {{cite web}}: Missing or empty |title= (help)
  3. ^ a b Zarrugh, Nouri (February 16, 2022). "Credit One vs Capital One: What are the differences?". BankRate. Retrieved June 8, 2022.
  4. ^ a b "The Strange Case of the Look-Alike Credit Cards". Archived from the original on 2019-12-09. Retrieved December 9, 2019.
  5. ^ "Office/Retail/Mixed Use Best Project: Credit One Bank Corporate Headquarters and Campus". Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  6. ^ "Grand Canyon Development Partners Completes Phase II of New Credit One Bank Headquarters Building In Las Vegas". Nevada Business Magazine. 2021-09-14. Archived from the original on 2021-10-06. Retrieved 2021-10-06.
  7. ^ "Credit One Bank becomes primary sponsor for Larson's #42 Chevy". Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  8. ^ "NASCAR Relationship Demonstrates Credit One Bank's Broader Strategy". Archived from the original on October 29, 2020. Retrieved September 18, 2020.
  9. ^ "Credit One Bank Announces Partnership With Vegas Golden Knights". Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  10. ^ "Credit One Bank & The Howard Hughes Corporation Announce New Las Vegas Aviators Multi-Year Founding Level Partnership". Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  11. ^ "Oakland Raiders and Credit One Bank agree Allegiant Stadium partnership". Archived from the original on December 9, 2019. Retrieved December 9, 2019.
  12. ^ "Business Profile for Credit One Bank". Archived from the original on 2022-04-15. Retrieved 2022-06-03.
  13. ^ Daly, Lyle (December 30, 2020). "Credit One Bank: What You Need to Know". The Ascent. The Motley Fool. Retrieved June 7, 2022.
  14. ^ Credit-Card Issuer Credit One Rebuked in Debt-Reporting Lawsuit by Jonathan Randles and Akiko Matsuda, Wall Stree Journal, June 9, 2022 6:00 am ET
  15. ^ Most Big Debt Collectors Backed Off During the Pandemic. One Pressed Ahead. Archived 2022-06-03 at the Wayback Machine By Shane Shifflett and Justin Scheck, Wall Street Journal, April 7, 2021

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