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Credit One Bank NASCAR American Express Credit Card: Underwhelming Rewards and Perks

You may get access to racing event and merchandise discounts, but this card offers lackluster rewards otherwise.

Credit One Bank® NASCAR® American Express® Credit Card

4.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Apply Now with Credit One Bank
CNET’S PICK
Credit One Bank® NASCAR® American Express® Credit Card
Apply Now

Credit One Bank® NASCAR® American Express® Credit Card

4.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Apply Now
On Credit One Bank’s secure website
Intro Offer
No current offer
Annual fee
$0-$39
APR
29.74% Variable
Rewards rate
1% cash back Earn unlimited 1% cash back rewards on all purchases, terms apply
Rewards Rate
1% cash back
Earn unlimited 1% cash back rewards on all purchases, terms apply

If you love NASCAR, you’re likely a fan of anything that can move fast. Unfortunately, the Credit One Bank NASCAR American Express Credit Card won’t help your finances race anywhere quickly. The card’s 1% flat-rate cash-back rewards structure is subpar at best, though its discounts on race tickets and experiences might sway racing enthusiasts.

This card has a tiered annual fee structure that depends on your credit score. If your credit score is excellent, you likely won’t have an annual fee. But if you fall into the fair or average credit score range -- typically a 580 to 669 FICO score -- you’ll need to hand over $39 a year for this card. No matter where your credit score sits, though, there are better options that will give you better opportunities for more rewards. 

The Credit One Bank NASCAR American Express card doesn’t offer a welcome bonus, either. If you plan to travel to see any number of the 36 NASCAR races this season, the Credit Bank One Wander® Card may be a better fit since you’ll earn higher rewards when you book hotel stays via the bank’s travel portal. But if you’re still considering the Credit One Bank NASCAR card, here’s everything you need to know.

Rewards

There’s nothing complicated about the Credit One Bank NASCAR Credit Card’s rewards structure: You’ll earn 1% cash back with every purchase. So, if you spend $5,000, you’ll get $50 back. There’s nothing extraordinary about this rewards rate, however. The best cards for fair and average credit include more lucrative options like the Capital One QuicksilverOne Cash Rewards Credit Card* (a $39 annual fee with a 1.5% cash-back rate) and the Petal® 2 “Cash Back, No Fees” Visa® Credit Card, issued by WebBank.

It’s especially disappointing that you won’t earn any bonus points for purchases on NASCAR-specific products. Since this card is designed for fans, it seems like a missed opportunity that cardholders don’t receive extra points for buying tickets or merchandise. 

Fees

This card’s annual percentage rate is 29.74% variable, which means you should avoid carrying a balance. That APR is higher than the industry average and could cost you a lot in interest, which can essentially cancel out your 1% back in rewards -- and then some. 

And if you’re planning to spend time outside the US, don’t use this card abroad: You’ll pay a 3% foreign transaction fee ($1 minimum) for each purchase you make.

Rewards redemption

Credit One only offers one way to redeem your cash back: as an automatic statement credit. For example, if you earn $5 cash back, your billing statement will be $5 less. While that helps make sure that you are paying off your bill each month, it’s surprising that you can’t redeem your rewards for any NASCAR merchandise or events. 

Other perks

NASCAR’s deal with American Express means that this card does offer a few extra features worth noting. While traveling, you can access complimentary benefits like free breakfast and room upgrades (when available) at any of the 3,000-plus properties in the Amex Global Hotel Collection. You’ll also receive discounts on car rentals and car rental loss and damage insurance.

You also may receive discounts on race tickets, merchandise and other racing experiences, though Credit One doesn’t explain how often these benefits come up or define the discount amounts. You’ll also receive free access to your credit score and fraud protection -- but these are fairly standard features among most credit cards. 

Comparable cards

Tomo Card

If you have fair credit, the Tomo card* may be a better pick than the Credit One Bank NASCAR card. You’ll earn the same 1% cash-back rate on all purchases without the potential annual fee. One notable difference is that the Tomo is a charge card, which means you’ll need to pay your balance off each month. This can be helpful for anyone working to build their credit, though, since it reduces the temptation to charge more than you can afford to repay.

Petal 2

The Petal 2 -- also meant for those with less-than-perfect credit -- drives laps around the NASCAR Amex in just about every category: no annual fee, a potentially lower APR and a potentially higher rewards payout of up to 1.5% cash back. While you’ll start with the same 1% reward structure on eligible purchases, you can up that to 1.5% after 12 on-time monthly payments. On the downside, there aren’t any additional perks like the Amex Global Hotel Collection benefits. But if you’re working to build your credit, the Petal 2 can be a valuable tool to help put you in the running for one of the best credit cards down the road. 

How Credit One Bank® NASCAR® American Express® Credit Card compares to other cards

CNET’S PICK
Credit One Bank® NASCAR® American Express® Credit Card
Apply Now

Credit One Bank® NASCAR® American Express® Credit Card

4.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
No current offer
Annual fee
$0-$39
APR
29.74% Variable
Intro Purchase APR
N/A
Rewards rate
1% cash back Earn unlimited 1% cash back rewards on all purchases, terms apply
Apply Now
On Credit One Bank’s secure website
Tomo Card
Learn More

Tomo Card

9/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
No current offer
Annual fee
None
APR
N/A
Intro Purchase APR
N/A
Rewards rate
1% 1% cash back on purchases
Petal® 2

Petal® 2 “Cash Back, No Fees” Visa® Credit Card

9/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
No current offer
Annual fee
$0
APR
18.24% – 32.24% (Variable)
Intro Purchase APR
N/A
Rewards rate
1% – 1.5% Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.; 1% cash back on eligible purchases right away.

FAQs

Earning 1% cash back is the bare minimum you should expect when opening a rewards credit card. There are many cards that offer higher percentages in certain spending categories, like 3% back on gas and 3% back at drugstores, for example, in addition to a flat 1% rate on all other purchases. Other flat-rate credit cards may offer an even higher steady rate of 1.5% or 2% back.

Credit One Bank is based in Las Vegas and offers 11 different credit cards. Many of its cards cater to anyone with a limited credit history or who is in the process of repairing their credit. In terms of reward potential, Credit One’s cards generally lag behind other issuers like Chase, American Express and Citi. In addition to its credit cards, Credit One also offers high-yield certificates of deposit with above-average APYs.

Banks typically consider a FICO score between 580 and 669 to be in the “fair” or “average” category. If your score is in this range, you’re considered a higher-risk borrower, which means you’ll start with a lower credit limit and a higher APR. You can grow your credit by making smart credit decisions, like paying your bill in full and on time each month.

*All information about the Capital One QuicksilverOne Cash Rewards Credit Card and the Tomo Card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is also a musician, which means he has spent a lot of time worrying about money. He applies the lessons he's learned from that financial balancing act to offer practical advice for personal spending decisions.