Credit One Bank Platinum X5 Visa Card

The Credit One Platinum X5 Card gives you cash on everyday spending around the house. You earn 5% cash back on your $5,000 in eligible purchases every year. These eligible purchases include gas, groceries, internet, cable, satellite TV and mobile phone services. Once you hit that $5,000 limit or if you spend money outside those categories you still get 1% cash back. This makes the card useful for both bills and daily expenses.

There is a $95 fee for this card. That cost might be easier to accept if you regularly spend in the bonus areas like gas, groceries and phone services. The interest rate is variable. Comes in at about 28.99%. That means carrying a balance can get very expensive.

You can redeem your rewards as statement credits. That means the cash back directly lowers what you owe on your account. There are alerts that help you keep track of due dates your current balance and recent activity. The card works with wallets so you can make faster and more secure payments. Keeping an eye on the $5,000 bonus limit helps you know when your earning rate drops from 5% down to 1%.

This card can be especially helpful, for households that consistently spend on gas, groceries, phone bills and home services. If you focus on those bonus areas you might earn enough to cover the $95 fee.. If you carry a balance and pay interest the rewards could end up losing value. Overall it’s best for users who spend a lot in the categories and can manage the annual fee and monthly payments without issue.