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One Credit Builder Review

One Finance
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One Finance
One Finance
Katy Ward
Nov. 08, 2021
3 min read
Katy Ward
One Finance Summary
Founded in 2019 in Sacramento, California, One allows you to manage different areas of your finances via a single app. Its fee-free Credit Builder feature acts as a hybrid between a savings account and a credit card, with the aim of helping those with poor or slim credit histories improve their financial profiles. You can also earn up to $500 through its refer-a-friend scheme and benefit from biometric security features.


  • Rebuild credit history
  • Earn up to $500 via refer-a-friend scheme
  • No minimum credit requirements


  • 24/7 customer service not available
  • Cash deposits not available

One Finance at a glance

Editorial score


No fees


Accepts all credit types


FDIC/NCUA insured, SSL/AES encryption and supports 2 factor and biometric authentication

Customer service

Multiple ways of reaching agent, wide range of hours

Online experience

User friendly site and app with detailed FAQs or help center

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Adding Credit Builder to your One account allows you to automatically build your credit history by effectively functioning as a secured charge card (a credit card backed by a secured deposit).

When you create a One account, the company will allow you to create Pockets where you can store your money. Each Pocket serves a different purpose, such as spending, saving, and building credit. The amount of money you put into your Credit Builder Pocket essentially acts as your credit limit.

When you spend via your Credit Builder Pocket, One will subtract sufficient funds to cover this debt from your balance. It will then hold this money to make your monthly on-time payment, which will take place on the 25th of every month. One will then report these on-time payments to the credit referencing bureaus, and they will become part of your credit history, which may cause your score to increase.

Suitable for?

As Credit Builder is available to most customers who are rebuilding their credit and doesn’t include a minimum credit score requirement, it could be an attractive option for those seeking a more stable financial future. Ethically minded customers may also be pleased to learn that deposits held in One are never used for oil and gas lending for exploration or production, or lending to manufacturers or direct sellers of firearms.

Interest Rates and Fees 

Adding a Credit Builder feature to your One account is fee-free. As its model means you are essentially pre-paying your balance, it also doesn’t have an APR. Likewise, the provider doesn’t charge monthly fees, account fees, overdraft fees, or non-sufficient fund fees across its products. 

Rewards & Cashback

Through its partnership with Fetch Rewards, One allows customers to earn Fetch points on their spending, which they can then redeem for gift cards and other rewards.

You’ll earn one point for every dollar spent and can see details of available rewards via your One account.

One also operates a refer-a-friend program, which entitles both you and a friend to receive $50 if he or she opens an account and completes their first qualifying direct debit of $250 or above. You can refer up to 10 new customers to receive a maximum of $500.

The Application Process

To apply for an account, you’ll need to be at least 18 years old and a permanent US citizen. During the application process, you’ll need to provide your:

  • Full legal name
  • Date of birth
  • Physical address
  • Social security number
  • Phone number
  • Email address

For security purposes, you may also need to provide a copy of your government-issued ID or a utility bill. If you’re concerned about your credit score, be assured that applying for an account with One won’t affect it.

Once you’ve received an email informing you that you are eligible to add Credit Builder to your One account, you can do so via the ‘Get more from One’ feature of your app. Watch this video for a demonstration of adding Credit Builder to your account.

Your One card is shipped on the day you open your account and should arrive within 7-10 business days.

Help & Support

You can contact the company by phone, social media, email, or online chat between 8am to 5pm, Monday to Friday (PST).

When we contacted the company via social media, we received an extremely polite and helpful response in less than an hour.

The website also contains a detailed selection of FAQs, which answered almost all the questions we had.


The company takes a number of precautions to protect both your data and your money against fraudsters. 

As a One customer, you’ll receive a notification for every transaction on your account. If your card is lost or you spot a suspicious transaction, you can then block all transactions until the matter is resolved. One also protects data in transit using 256-bit encryption and employs biometric identification when you open the app.

The company also has an extensive privacy policy on its website, which explains how it uses your data.


Does One have an app?

Yes, you can download the app for iOS and Android devices. 

Can I withdraw cash with my One Card?

Yes, you can withdraw cash free of charge at up to 55,000 ATMs through the Allpoint network. However, you may pay a fee if you use an ATM outside this network.

Can I deposit cash into my One account?

At present, cash deposits are not available.


While Credit Builder is an extremely attractive option for those looking to rebuild their credit profile, it also offers a number of desirable rewards and incentive schemes. In addition to the potential to earn reward points, customers who refer friends, family, and colleagues could earn up to $500. Although One doesn’t offer 24/7 customer service, it could prove an attractive option for tech-savvy customers thanks to its biometric security features.


This review was compiled using information on the company’s website and by contacting its customer service team over social media.

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Katy Ward
Written by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She enjoys identifying complex financial trends that make for interesting article topics.
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