Credit One Bank Wander Card Review 2023 (Interest Rate, Fee & More)

Are you a fair credit score holder, looking for a credit card with good rewards? Do you like traveling and want a card that will help you save some money while traveling? If yes, then you can consider going for a Credit One Bank Wander Card. It is an easy-to-get credit card for fair credit holders. There are thousands of positive Credit One Wander Card reviews on the internet, given by the cards’ current and previous users. 

In this article, we are going to give you an honest and unbiased Credit One Wander Card review. We will discuss its interest rate, fee, rewards, credit limit, and basically, everything that you need to know. So now let’s get deeper into this. 

What is a Credit One Bank Wander Card?

What is a Credit One Bank Wander Card?

Where some credit cards are for bad credit holders and some credit cards are for good credit holders, the Credit One Bank Wander card is for fair credit holders. So if you have a fair credit score of 580 to 739, you can definitely go for this card. This card comes with $100 as a welcome bonus, but the high annual fee and high APR can be an issue for some people. 

But the best thing about this card is its high rewards. It comes with 10% cash back on eligible purchases. Also, you get points on your purchases like fuel, dining, hotel booking, and flight ticket booking, and later you can use these points to get discounts on your next purchases.  

Important Points

  • Annual Fee: $95
  • Preferred Credit Score: 580 to 739
  • Purchase APR: 26.99%
  • Reward Rate: 1% to 10%
  • Grace Period: 24 days 

Pros

  • Up to 10% cash back on eligible purchases. 
  • Extra cashback on certain merchants. 
  • A welcome bonus of $100. 
  • A great option for average credit holders. 
  • Good credit building potential. 

Cons

  • People with a bad credit score or no credit history would not get this card. 
  • The annual fee is extremely high. 
  • APR is a bit high for fair credit score holders. 

Plus Points

  • Provides a free tool to keep a track of your credit score.
  • You can use the Mobile application to manage your account. 
  • Comes with a 25 days grace period.
  • The card has a minimum credit limit of $500. 
  • Up to 10% cash back on selected categories. 
  • You get up to 10% bonus points on spending $1000 in the initial 90 days of getting the card. 
  • Zero liability in case of fraud and identity theft. 

Credit One Bank Wander Card: Features

Credit One Bank Wander Card: Features

In this section, we are going to discuss the special features of Credit One Bank Wander one by one, so that you can decide whether you want to go for this card or not. 

Interest Rate

  • Being a credit card for fair or average credit score holders, the interest rate of Credit One Bank Wander Card is a bit high. 
  • Purchase APR: 26.99% (Variable)
  • Minimum Interest Charge: $1.00 
  • Cash Advance APR: 26.99% (Variable)

Fee

  • Coming to the fee, the annual fee of Capital One Bank Wander is $95, which is high compared to the other cards. Also, late fees and cash advance fees are also there. 
  • Annual Fee: $95.00
  • Late Fee: Up to $39
  • Cash Advance Fee: 5% of the total amount or $10, whichever is higher. 

Cash Advance 

If you need some immediate cash, you can use this credit card to withdraw some cash from the ATM. But you will have to pay a fee of 5% of the total amount or $10, whichever is higher. Also, you would not get the grace period for the cash advance, so as soon as the payment date comes, the interest of 26.99% (Variable) will apply to the cash advance. 

Rewards

Capital One Bank Wander Card comes with huge rewards. They offer you points on your purchases and later you can redeem those points to get discounts on your next purchases. Here is a breakdown of the points you get on purchases from different categories. 

  • 5X points on gas, fuel, flight bookings, and dining purchases.  
  • 10X points on rental cars and hotel bookings if done via the travel partner of Credit One. 
  • 1X points on all other purchases. 

Considering the high annual fee and other charges of this card, you will need to use this card for most of your spending to receive the full worth of this card. You will need to spend the following amount in the specific categories annually: 

  • Daily use items: $9500 or more
  • On travel and flight bookings: $1900 or more
  • On hotels and rental car bookings through the travel partner of Credit One: $950 or more

If you do not go out that often then this card is not a good option for you. You can go for any other card that comes with a lower annual fee and lower interest rates

Reward Redemption

The credit card points you earn from your regular purchases can be used to get discounts in the following categories: 

  • Merchandise
  • Gift Cards
  • Statement Credit 
  • Travel, flight bookings. 
Welcome Bonus

As a welcome bonus, Credit One Bank Wander Card gives 10,000 points, which is worth $100, which you can use to get discounts on your purchases. But you will have to use these points within the initial 90 days of getting the credit card. 

Credit Reporting 

This card reports all your credit activities to all three credit bureaus every month. So, overall, it is a good card to keep a record of your spending and increase your credit score at the same time. 

Balance Transfer 

Where other cards allow you to transfer the remaining balance into your savings or checking bank account, this card does not provide this facility, not even with fees or charges. 

Who is this Card Best for? 

If you fall under any of the following categories, then Credit One Wander Card is a good option for you. 

1. People Who Love to Travel

As the name suggests, it is a “Wander Card”, which means that it is specially made for people who love to travel. After all, it gives you 10X points on rental car bookings and hotel bookings and 5X on flight bookings and other expenses. Overall, this card allows you to save a lot of money on your travel expenses. 

2. People with a Fair Credit Score

If you are someone with a credit score of 580 to 739, then this card is a good option for you. If you have a credit score of 600, you will easily qualify for this card. After approval, you will receive this card within 5 to 10 days. The Minimum Credit One Wander Card limit is $500. 

Other Alternative Options

If you think that Credit One Bank Wander Card is not a good option for you then you can go with any of the following cards as well.

1. Petal 2 “Cash Back, No Fees” Visa

Petal 2 “Cash Back, No Fees” Visa

Our Rating: 4.2/5

If you are an average credit score holder and looking for a card with great rewards and no annual fee then Petal 2 “Cash Back, No Fees” Visa is a good option for you. It gives up to 10% cash back on all your purchases. Also, there is no foreign transaction fee or late fee, so overall, it is going to be a profitable card for average credit holders. 

Important Points

  • Annual Fee: $0.00
  • Preferred Credit Score: 300 to 669
  • Purchase APR: 15.99% to 29.99% (Variable) 

Pros

  • No annual fee
  • Zero late fees
  • No foreign transaction fee
  • Easy application and approval process
  • Low APR

Cons

  • There is no annual fee. 
  • Rewards are limited to certain categories. 
  • High APR for people with a lower credit score. 

2. Capital One QuickSilver

Capital One QuickSilver

Our Rating: 4.1/5

Capital One QuickSilver Credit Card comes with an annual fee of just $39 and gives you up to 5% cashback on hotel and rental car bookings if done through Capital One Travel. Comparatively, the Capital One Quicksilver Secured Card comes with good rewards. 

Important Points 

  • Annual Fee: $39.00
  • Preferred Credit Score: 580 to 739
  • Purchase APR: 28.49% (Variable) 

Pros

  • Good Rewards
  • Great credit-building potential
  • Low annual fee

Cons

  • People with low credit scores cannot apply for this card. 
  • APR is high.
  • There is no welcome bonus with this card. 

3. Capital One Platinum MasterCard

Capital One Platinum MasterCard

Our Rating: 3.8/5

Capital One Platinum MasterCard has great credit-building potential, but the only problem is, there are no rewards or cash back. So, if you need a card just to build your credit score then you can go with a Capital One Platinum Secured card. But if you are looking for a card to save some money as well, then you should go with some other credit card. 

Important Points

  • Annual Fee: $0.00
  • Preferred Credit Score: 580 to 739
  • Purchase APR: 28.49% (Variable) 

Pros

  • No annual fee
  • Easy card approval for people with fair credit scores

Cons 

  • APR is high
  • People with low credit scores would not get this card
  • No rewards
  • No welcome bonus

Conclusion: Should I Get a Capital One Bank Wander Card? 

We would like to give Credit One Bank Wander Card an overall rating of 4.2/5. If you are someone with an average credit score who loves to travel, then this is an ideal credit card for you. But if you do not go out that frequently, then we would recommend you to go with some other credit card that comes with a lower annual fee.

We hope this information was useful to you. If you have any other queries or confusion, please let us know in the comments section. 

FAQs: Frequently Asked Questions

Q1. What is the credit limit for Credit One Wander cards?

The minimum credit limit of this card is $500 but as you improve your credit score, you can apply for a credit limit increase. If your credit score is good enough, Credit One will increase your monthly credit limit.

Q2. Is Credit One Bank a legitimate credit card company?

Yes. Credit One Bank is a legitimate credit card company. They have thousands of positive ratings and reviews online that you can check.  

Q3. What score do you need to get a Credit One Bank card?

To get this credit card, you need to have a credit score of 580 to 739. If you are someone with a credit score of 600 or above, there are high chances that you will qualify for this credit card. This card is specially made for people with an average credit score. 

Q4. How to cancel the Credit One Card?

To cancel the Credit One Card, you can call their customer care or go to their official website and apply for the credit card cancellation. They will conduct an inquiry and will let you know if any bills are left to pay. Once you pay all the bills and everything, they will immediately cancel your credit card.

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