Credit One Bank

Corporate brand

A U.S. bank specializing in credit cards and deposit products for consumers across a range of credit profiles, including people rebuilding credit.

Last updated August 22, 2026

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Overview

Credit One Bank, N.A. is a privately owned U.S. bank headquartered in Las Vegas, Nevada. Its principal business is issuing credit cards, with a particular emphasis on products marketed to consumers who have limited, damaged, or developing credit histories. The bank also offers certificates of deposit and savings accounts. Its cards may provide customers with access to revolving credit and credit-reporting services, although product terms, fees, credit limits, and eligibility vary by account and applicant. The institution began on July 30, 1984, as First National Bank of Marin in San Rafael, California. In June 1996 it received a designation as a credit card bank, reflecting a strategic concentration on card lending. The bank moved its headquarters from San Rafael to Las Vegas in November 1998. It was acquired in 2005 by Sherman Financial Group, a diversified investment-services company founded by Ben Navarro. On February 1, 2006, the institution adopted the Credit One Bank name and continued its rebranding under that identity. Credit One’s consumer-facing position is closely associated with credit access and credit rebuilding. Its business model is distinct from that of a traditional full-service retail bank: the brand is best known for credit cards rather than branch-based checking or broad commercial banking. In addition to card products, the bank’s published business description includes certificates of deposit and savings accounts. The bank’s portfolio has included general-purpose Visa cards as well as affinity and co-branded cards connected with sports and entertainment properties. The brand has had to distinguish itself from Capital One. The two companies are separate and unaffiliated, but their names and historically similar visual identities have caused consumer confusion. Credit One changed its logo in 2006, while Capital One adopted a similar arcing graphic in 2008. Public descriptions of the relationship emphasize that the institutions are not part of the same corporate group. Credit One has developed a substantial sponsorship presence, particularly in sports. It has been identified as NASCAR’s official credit card in the United States and has sponsored NASCAR teams and drivers. The bank has also partnered with the Las Vegas Raiders, the Vegas Golden Knights, the Las Vegas Aviators, WWE, and the Charleston Open. Its naming-rights agreement for Credit One Stadium in Charleston, South Carolina, connects the brand with the annual WTA Charleston Open. Community work has included a scholarship initiative with Nevada’s Public Education Foundation for low- and moderate-income families. The bank’s history also includes regulatory settlements and private litigation concerning fees, payment processing, debt-collection practices, bankruptcy-related collection, and credit-reporting disputes. These matters have generated criticism and legal exposure, although the outcomes have differed by case and the bank has not admitted wrongdoing in some earlier settlements. Credit One remains an active private bank operating in the United States.

History

Credit One Bank traces its origins to First National Bank of Marin, established on July 30, 1984, in San Rafael, California. The original institution was not initially identified primarily with the Credit One consumer brand. Its strategic direction became more focused in June 1996, when it received a credit-card-bank designation. That change reflected the institution’s increasing concentration on card issuance and related consumer lending rather than a broad, branch-oriented banking model. In November 1998, the bank relocated from San Rafael to Las Vegas, Nevada. At that time it was owned by businessman Kjell Qvale. Las Vegas subsequently became the center of the institution’s operations and corporate identity. In 2005, Sherman Financial Group acquired the bank. Sherman, founded by Ben Navarro, is a diversified investment-services company with extensive involvement in consumer debt purchasing and related financial activities. The acquired institution completed a major identity change on February 1, 2006, when First National Bank of Marin changed its name to Credit One Bank, N.A. The new name positioned the bank more directly around its credit-card business and its consumer-credit specialization. The bank also introduced a redesigned logo featuring an arcing swoosh above the name. Capital One later adopted a visually similar arcing treatment in its own branding. Although Credit One and Capital One are separate companies with no affiliation, the similarity of their names and logos led to confusion among some consumers. Marketing activity by Capital One reportedly increased awareness of both brands, including among people who did not understand that they were different institutions. Credit One’s operating focus developed around credit cards for a broad consumer market, including applicants with low credit scores or limited credit histories. This segment can include people seeking to establish a first credit record, rebuild credit after financial difficulty, or obtain a card when they do not qualify for prime lending products. The bank’s offerings have also included deposit products such as certificates of deposit and savings accounts. Its identity, however, has remained most strongly associated with credit-card issuance and credit-building products. The bank expanded its public profile through sports, entertainment, and community partnerships. It became associated with NASCAR as the organization’s official credit card in the United States and sponsored drivers and teams including Jamie McMurray and Kyle Larson. It later established a partnership with the Las Vegas Raiders and supported the Maxx Crosby Foundation. Other relationships have involved the Vegas Golden Knights, the Las Vegas Aviators, WWE, and the Charleston Open. The bank’s naming rights for Credit One Stadium in Charleston, South Carolina, linked the brand to the venue hosting the annual WTA Charleston Open. In Nevada, it partnered with the Public Education Foundation on scholarships intended for low- and moderate-income families. Credit One’s corporate facilities in Las Vegas also expanded. The bank moved into a new headquarters facility in 2018, and the site was enlarged in 2021 with a second building measuring approximately 150,000 square feet. Alongside this growth, the institution faced repeated legal and regulatory challenges. Earlier matters involved card fees and security deposits; later disputes concerned automated debt-collection calls, third-party collection practices, payment-posting charges, collection of debts discharged in bankruptcy, and credit-reporting procedures. Some matters resulted in payments or adverse findings, while other cases were dismissed, referred to arbitration, decided in the bank’s favor, or remained subject to appeal. Credit One continues to operate as a privately held U.S. bank owned by Sherman Financial Group.

2021
Headquarters campus expands
[1]Credit One Banken.wikipedia.org
The Las Vegas headquarters site is expanded with a second building of approximately 150,000 square feet.
2019
Las Vegas Raiders partnership begins
[1]Credit One Banken.wikipedia.org
Credit One begins a partnership with the NFL’s Las Vegas Raiders and issues a team-branded card.
2018
New headquarters facility opens
[1]Credit One Banken.wikipedia.org
The bank moves its headquarters to a new Las Vegas facility.
2006
Credit One Bank name adopted
[1]Credit One Banken.wikipedia.org
First National Bank of Marin changes its name to Credit One Bank, N.A., beginning a broader consumer-brand rebrand.
2005
Sherman Financial Group acquires the bank
[1]Credit One Banken.wikipedia.org
The bank is acquired by Sherman Financial Group, founded by Ben Navarro.
1998
Headquarters move to Las Vegas
[1]Credit One Banken.wikipedia.org
The institution relocates from San Rafael to Las Vegas, Nevada.
1996
Receives credit-card-bank designation
[1]Credit One Banken.wikipedia.org
The bank receives a designation reflecting its specialization in credit-card activities.
1984
First National Bank of Marin is founded
[1]Credit One Banken.wikipedia.org
The institution is established on July 30 in San Rafael, California.

Products and positioning

A U.S. credit-card issuer focused especially on consumers seeking access to revolving credit or opportunities to establish, rebuild, or improve credit history.

Credit cards
Credit One Bank Visa credit cards
The bank’s principal product family consists of Visa credit cards for U.S. consumers. Product terms differ by account, but the portfolio is associated with general-purpose revolving credit and with applicants whose credit histories may be limited, damaged, or still developing. Depending on the specific offer, cards may include features intended to support credit access or credit reporting. Fees, annual charges, credit limits, rewards, and eligibility are product-specific.
Co-branded credit cards
Credit One Bank affinity and co-branded cards
Credit One has issued cards connected with sports, entertainment, and other affinity partners. Examples associated with its sponsorship portfolio include cards linked to the Las Vegas Raiders, the Vegas Golden Knights, WWE, and other properties. These products use partner branding and may connect card ownership with affinity benefits, subject to the terms of each individual program.
Deposit products
Certificates of deposit
Credit One Bank offers certificates of deposit as part of its deposit business. A certificate generally commits funds for a specified term in exchange for stated interest terms, with account conditions determined by the applicable product agreement. The bank’s public identity is more strongly associated with cards than with deposit products.
Deposit products
Savings accounts
Savings accounts form another part of the bank’s deposit offering. They provide a deposit-based savings vehicle under the account’s applicable terms, rates, access rules, and balance requirements. Specific features can change over time and should be evaluated using current bank disclosures.

Controversies

2023
Credit-reporting dispute
A lawsuit alleged that Credit One reported disputed information to credit-reporting agencies. Summary judgment was granted for the bank, and the decision was appealed.
Source
2022
Bankruptcy-discharge collection liability
A bankruptcy judge found the bank liable to roughly 288,000 card customers for attempts to collect debts discharged through bankruptcy proceedings.
Source
2020
Robocall damages award
A plaintiff who received 465 automated collection calls concerning a $657 debt was awarded $232,000, or $500 per call, under the Telephone Consumer Protection Act.
Source
2004
Security-deposit credit-limit allegations
Credit One paid $10 million in a matter involving allegations that consumers were encouraged to place security deposits on new cards, substantially reducing available credit. The bank did not admit wrongdoing.
Source
2001
OCC-related repayment over card cancellation complaints
The bank repaid approximately $4 million to customers who cancelled cards after fees and security deposits left them with very little usable credit. The matter was resolved through an investigation by the Office of the Comptroller of the Currency.
Source

2019Las Vegas Raiders partnership
United States
The bank partnered with the Las Vegas Raiders and issued a team-branded credit card. It also supported the Maxx Crosby Foundation.
Outcome. The relationship extended Credit One’s affinity-card and sports-marketing strategy into the NFL.
Source
2018Kyle Larson NASCAR sponsorship
United States
Credit One began or continued sponsorship activity around Chip Ganassi Racing driver Kyle Larson.
Source
2017Jamie McMurray NASCAR sponsorship
United States
Credit One sponsored Chip Ganassi Racing driver Jamie McMurray in NASCAR.
Source
NASCAR official credit card partnership
United States
Credit One Bank has served as NASCAR’s official credit card in the United States and used the relationship to build visibility among motorsports fans.
Outcome. The partnership supported branded-card marketing and expanded the bank’s sports sponsorship profile.
Source
Credit One Stadium naming rights
United States · South Carolina
Credit One holds naming rights to Credit One Stadium in Charleston, South Carolina, a venue associated with the annual WTA Charleston Open.
Outcome. The agreement gave the bank a permanent venue-branding presence in tennis and the Charleston market.
Source
Nevada scholarship partnership
United States · Nevada
Credit One partnered with the Public Education Foundation on scholarships for low- to moderate-income Nevada families.
Outcome. The initiative positioned the bank’s community activity around educational access and local philanthropy.
Source

Brand decisions

2022
Challenges bankruptcy-related class actionOther
Background
A bankruptcy judge had found the bank liable in a case involving collection attempts after customer debts were discharged.
Action taken
The bank pursued litigation concerning the class proceeding and later sought to decertify the class.
Aftermath
The decertification filing was reported in January 2024; the supplied materials do not establish the final outcome.
Source
2019
Extends affinity strategy through Raiders partnershipStrategy
Background
Credit One had built visibility through sports sponsorships and branded card programs.
Action taken
The bank partnered with the Las Vegas Raiders and issued a team-branded credit card.
Aftermath
The partnership expanded the bank’s sports and co-branded-card presence in its Las Vegas home market and nationally.
Source
2006
Adopts the Credit One Bank identityStrategy
Background
The former First National Bank of Marin had developed a concentration in credit cards and needed a consumer-facing identity aligned with that business.
Action taken
The institution changed its name to Credit One Bank, N.A. and introduced a redesigned logo.
Aftermath
The new identity strengthened the bank’s association with credit-card products, although similarity with Capital One’s later logo contributed to consumer confusion.
- Capital One — Capital One later used a similar arcing visual treatment in its branding; the companies remained unaffiliated.
Source

Recent events

2026.08.27
Reported2026.08.27
Experian launches Credit Cards app on ChatGPT[3]Experian在ChatGPT上推出信用卡应用aol.com
Experian announced the launch of the Experian Credit Cards app on ChatGPT, giving consumers a conversational way to discover and compare credit card offers from Experian's partner network before continuing to Experian for offers matched to their credit profile.
2022.03.09
Reported2022.03.09
Credit One Bank receives WalletHub credit card award[4]Credit One Bank获得WalletHub信用卡奖项prnewswire.com
Credit One Bank received WalletHub's 2022 “Best Credit Card” award for the Credit One Bank Platinum Visa.
2021.08.20
Reported2021.08.20
WWE announces SummerSlam sponsors[5]WWE宣布SummerSlam赞助商411mania.com
WWE announced sponsors for SummerSlam, including DraftKings, Victoria, 2K, Pure Life Purified Water, Cricket Wireless, C4 Energy, Credit One Bank and Wargaming.
2021.07.19
Reported2021.07.19
Credit One Bank launches WWE SummerSlam sweepstakes[6]Credit One Bank推出WWE SummerSlam抽奖活动prnewswire.com
Credit One Bank launched a SummerSlam sweepstakes offering fans a chance to win tickets to the event. The promotion was open to eligible U.S. residents, and entry included submitting a pre-qualification request for a WWE Credit Card or following entry instructions for existing card members.
2021.01.26
Reported2021.01.26
Credit One Bank partners with Best Friends Animal Society[7]Credit One Bank与Best Friends Animal Society建立合作prnewswire.com
Credit One Bank announced a new partnership with Best Friends Animal Society and committed to donating $1 million. The partnership includes plans for a co-branded credit card, with a percentage of purchases to be donated to Best Friends.
2020.11.20
Reported2020.11.20
Credit One Bank and WWE announce multi-year partnership[8]Credit One Bank 与 WWE 宣布多年合作prowrestling.net
Credit One Bank and WWE announced a wide-ranging, multi-year partnership that includes a themed credit card and integrations across WWE programming and digital platforms.
2020.04.14
Reported2020.04.14
Credit One Bank ends relationship with Kyle Larson[9]Credit One Bank终止与凯尔·拉尔森的合作关系foxnews.com
Credit One Bank ended its relationship with Kyle Larson after he used a racial slur during an online sim race livestream.
2019.10.02
Reported2019.10.02
Credit One Bank and American Express announce a cash-back credit card[10]Credit One Bank与American Express宣布推出现金返还信用卡prnewswire.com
Credit One Bank and American Express announced the Credit One Bank American Express Card, a cash-back credit card issued by Credit One Bank on the American Express Network.

Sources14 sources

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