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If you don’t have excellent credit, but want to earn rewards like you do, the Credit One Bank Wander® Card is certainly a card to consider. Offering 1%–10% cashback potential, a $100 welcome bonus, and eligibility to borrowers with average credit, the Credit One Bank Wander® Card ticks a lot of boxes. But beware the high fee and APR.
Quick Review
The Credit One Bank Wander® Card offers a unique opportunity for borrowers with less-than-excellent credit to earn rewards on the scale of high-end rewards cards that usually aren’t available to borrowers in this credit range. The issuer advertises the card as available to people with “average” credit and above—likely meaning scores around 600 and over.
The rewards scheme offers incredibly high earning potential, boasting:
- 10x points on hotels and rental cars booked through the Credit One travel partner
- 5x points on eligible flights, dining, and gas purchases
- 1x points on everything else
- 10,000 bonus points if you spend $1,000 in your first 90 days of borrowing
For borrowers on the go, these rewards can quickly add up to a generous cashback amount. However, they need to be worth the $95 annual fee and the potential interest charges you’ll get at the 26.99% (variable) rate.
Credit One Bank Wander® Card Important Details
Basic Card Details
- Annual fee: $95
- APR: 26.99% (variable)
- Rewards rate: 1%–10%
- Grace period: 24 days
Additional Information
- Balance transfers are not available
- $0 fraud liability
- Mobile app for account management
- 10,000 bonus points when you spend $1,000 in first 90 days of borrowing
- Up to 10% additional cash back when shopping with select merchants
- Minimum credit limit of $500
- Flexible payment dates
- Free access to Experian credit score
Credit One Bank Wander® Card Feature Breakdown
Check out the important details of borrowing with the Credit One Bank Wander® Card to determine whether it’s the right choice for you.
Fees
- Annual fee: $95
- Cash advance fee: $10 or 5% of amount (whichever is greater)
- Late fee: Up to $39
Interest Rates
- Purchase APR: 26.99% (variable)
- Cash advance APR: 26.99% (variable)
- Minimum interest charge: $1
Rewards
The Credit One Bank Wander® Card stands apart as a lucrative rewards card that doesn’t require excellent credit. Here’s how the rewards work:
- 10x points on hotels and rental cars booked through the Credit One travel partner
- 5x points on eligible flights, dining, and gas purchases
- 1x points on everything else
Given there’s an annual fee of $95, you’d need to earn enough cash back to make up for that cost for the card to be worthwhile. To break even with the annual fee, you’d have to spend at least the following amounts in a particular category:
- Credit One partner hotels and rental cars: $950
- Travel expenses: $1,900
- Everyday purchases: $9,500
If you’re frequently traveling or spending money on gas and dining, these thresholds should be fairly easy to meet in a year. However, if you’re not likely to spend far over these limits, you may be better off with a lower-rate cashback card without the annual fee.
Welcome Bonus
As a welcome bonus, Credit One offers 10,000 bonus points (worth $100) if you spend $1,000 on your new card in the first 90 days of borrowing.
Rewards Redemption
Your credit card points can be redeemed in a variety of ways, including as:
- Travel purchases
- Statement credits
- Gift cards
- Merchandise
Cash Advance
You can use a credit card cash advance to get money from a credit card in a pinch. While you can use a Credit One Bank Wander® Card at an ATM for funds, it won’t come cheap. There’s a cash advance fee of 5% of the transaction amount (with a $10 minimum), and cash advance APR of 26.99% (variable).
APR on cash advances doesn’t enjoy the credit card’s grace period, so interest charges can add up quickly if you use your card for an ATM withdrawal.
Balance Transfers
Balance transfers are used to consolidate credit card debt by moving a balance from one card to another. The Credit One Bank Wander® Card doesn’t allow balance transfers, so you’ll need to find another card if you’re looking to shuffle debts around.
Credit Reporting
Credit One reports to credit bureaus every 28–31 days, meaning your payment activity will be used to update your credit report. This is good news for credit builders, as you can use the card responsibly to raise your credit score.
Customer Service
If you have questions about the card or the application process, you can contact the Credit One customer service team at: (800) 752-5493
Should You Get the Credit One Bank Wander® Card?
FinanceJar verdict
The Credit One Bank Wander® Card is a decent option if you spend a lot on travel and are looking to earn high rewards with an average credit score. However, if your score is in the good-to-excellent range, we recommend looking at other rewards cards with lower or no annual fees.
Who is this card for?
- Fair-credit-score borrowers: Lucrative rewards cards aren’t often available to borrowers with fair credit. However, Credit One advertises this card as suitable for those with “average” credit. While this may mean not all credit scores in the 600 range will qualify, it may be worth a shot if your credit isn’t quite good enough for the usual selection of rewards cards.
- Frequent travelers: With the chance to earn 10x points on hotels and rental cars and 5x points on other travel expenses, this is definitely a card geared toward borrowers on the go. Travel purchases include gas, so frequent flyers and roadtrippers alike can enjoy cash back on their spending.
Comparable Cards
See how the Credit One Bank Wander® Card compares to similar cards on the market to determine whether or not it’s the best option for your wallet.
