Credit One Bank® Omni Rewards American Express® Card Review

Overview

The Credit One Bank® Omni Rewards American Express® Card is a flat-rate cash back card from Credit One Bank, running on the Amex network. The Credit One Bank® Omni Rewards American Express® Card keeps things simple, earning a flat 2x on every purchase with no categories to track or quarterly activations. There is no annual fee, which means every dollar of rewards is pure profit. New cardholders can earn $200 Cash Back after $1,000 in 6 months.

It is built for simplicity. There are no categories to track, no quarterly activations, and no annual fee, which makes it one of the easier cards to set and forget while still earning a respectable flat rate.

Our 7.6 out of 10 rating

Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.

Rewards: how it earns

The Credit One Bank® Omni Rewards American Express® Card earns a flat 2x on every purchase. On a typical $29,160 of annual average household spending that comes to about $583 back a year, with nothing to track or activate.

Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.

Pros and cons

The welcome bonus

The current welcome offer is $200 Cash Back, earned after you spend $1,000 in 6 months. Valued honestly at a flat 1 cent per point, that is worth about $200. The spending requirement works out to roughly $166 per month, so make sure it fits your normal budget rather than pushing you to overspend. Stacking the welcome offer on top of a typical year of rewards and accounting for no annual fee, the first year is worth roughly $783.

Is it worth the annual fee?

The Credit One Bank® Omni Rewards American Express® Card has no annual fee, so there is no break-even math to worry about. Every dollar of rewards is profit, and you can keep it open for free, which also helps the average age of your credit over time.

First-year value vs ongoing value

The welcome bonus makes year one the high point: roughly $783 in value once you count the bonus, this card’s rewards, and its credits, minus the no fee. After that, the honest figure is about $583 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.

*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.

Benefits and protections

Beyond the rewards, the perks and protections worth knowing about include:

• No foreign transaction fees
• $200 cash back after you spend $1,000 in the first 6 months
• Retail Protection covers eligible items damaged or stolen within 90 days
• Backed by the American Express network
• Reports to all three credit bureaus

Statement credits

This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.

Who should get it, and who should skip it

It is best for anyone who wants the simplest possible setup: one flat rate on everything, no categories to track, and no annual fee to earn back.

Skip it if you have heavy, predictable spending in one category, where a card with a higher bonus rate there would simply earn you more.

Frequently asked questions

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