The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.

One Credit Builder Review

Find a customized quote easily

Reviews 32

This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

Katy Ward
Katy Ward
May. 03, 20214 min read

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.

Pros

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

Cons

  • 24/7 customer service not available
  • Cash deposits not available
One Financeat a glance
4.6

Editorial score

Fees and rates

No annual fee and 0% APR

5.0

Eligibility (credit score)

Accepts all credit types

5.0

Security

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

5.0

Customer service

Multiple ways of reaching agent, wide range of hours

4.0

Online experience

User friendly site and app with detailed FAQs or help center

4.0

One Finance One Finance Apply Now

Overview

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.

Security

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.

FAQ

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.

Conclusion

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.

Methodology

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

One Finance One Finance Apply Now

Katy Ward
Written byKaty Ward

Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance and software topics 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 writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

One Finance
One Finance
GreatReviews 32
Visit Site

Top 5 Credit Cards

Chime Credit Builder Visa® Credit Card

Chime Credit Builder Visa® Credit Card

Visit Site
Avant Credit Card

Avant Credit Card

Visit Site
Aspiration Zero Card

Aspiration Zero Card

Visit Site
Upgrade Visa® Card with Cash Rewards

Upgrade Visa® Card with Cash Rewards

Visit Site
Laurel Road Cashback Credit Card

Laurel Road Cashback Credit Card

Visit Site

Trustpilot reviews

See what some costumers are saying about One Finance
One Finance
GreatReviews 32
on
Excellent
66%
Great
3%
Average
3%
Poor
3%
Bad
25%
  • author
    Connor Miller
    Oct 28, 2021
    Terrible customer service that will not…

    Terrible customer service that will not listen to any customer concerns. They have a full discretion interest rate that their contract gives them the power to change it at any time with no warning. Highly recommend staying away

    ...

  • author
    Tom Tryon
    Oct 08, 2021
    What a refreshing take on banking...

    What a refreshing company that is adapting to a changing demographic. I really love their products. They offer 3 percent on direct deposit (no one else does this). They offer 1 percent on up to 25k--very few do this and definitley none of the major banks are even close. Chase bank and Bank of America pay around .05 of a percent--yikes. They have phone support, chat, and email support. I have access to more ATMs than I ever did with Chase or B of A. I suppose the momentary downfall is that you can't deposit cash. I rarely interact with cash so it's a non-issue for me. I hope they grow and do well. Also, Zo from Customer Service was helpful to a small issue I had and was able to resolve it quickly and with class. Well done, One!

    ...

  • author
    Where it at tho
    Oct 04, 2021
    I was a customer of Simple for many…

    I was a customer of Simple for many years. When they were bought, I switched to One. I've waited months for them to delivery on promises, but they haven't. I can't pay my rent with this bank. Seriously. No checks. No bill pay. No integration with payment apps. You can only withdraw $500 a day. I'll be switching accounts asap and recommend that you steer clear if you want to actually be able to use your money.

    ...

  • author
    RussellUpsomgrubb
    Sep 27, 2021
    Terrible Interest rates…

    I considered opening an account there then I finally found their rate sheet. They pay 0% interest over $25,000 so this bank is useless to me.

    ...

  • author
    Matt Weber
    Sep 21, 2021
    I closed my account a year ago

    I closed my account a year ago. I decided to come back this year and check out the new features and they told me its impossible to re-sign back up or open an account once you close it. If you leave them you are barred for life. Customer Support had an attitude the entire time to top it off.

    ...

  • author
    Earth Gregg
    Sep 21, 2021
    Good Company

    I did have a problem, but the actual VP of the company called me on my phone and resolved my issue and really listened to some of my concerns, It is because of Becca that I will remain a client of this bank, I truly appreciated her taking the time to reach out to me, and go over my concerns, and One did right by me, and for that reason I will remain a client, I would recommend to anybody to try this, wonderful APP and Bank

    ...

  • author
    Jason
    Sep 06, 2021
    I made the switch to One and it's just…

    I made the switch to One and it's just been One big headache! No card, no online use, no help and the most frustrating ways to try and get support from One on the app or phone. Emailed too!! I understand holidays but someone has to be available you would think.... Nope, I emailed like One said but I got an automated no help response.. Direct deposit up to 2 days early is actually 7am on payday so that is worse than what I just switched from... One has given me a fantastic prize of late fees and having me owe someone for groceries which is pretty embarrassing might I add. I honestly can't believe this is happening but as I pinch myself again I find it is.

    ...

  • author
    Eric R Graham
    Aug 24, 2021
    BEST ONLINE BANK EVER!!!

    I absolutely love, love, love, love ONE!!! They are the best online bank I've used. I love the "pockets" feature, and I love the auto-save feature as well. It helps me save, and stick to a strict budget month to month. As someone who lives paycheck to paycheck ONE has been phenomenal, no monthly fees, no minimum balance, great app, and great customer service. What more could you possibly ask for? As a customer I have been extremely satisfied. I have not had 1 issue, not 1. I've had to call customer service a couple of times and 99.9% of the time I've had an excellent experience. I left my traditional Bank because of there high end fees, and constantly overdrafting my account and with ONE I don't have to worry about overdrafts, or maintenance fees constantly and this is why I love ONE it's stress-free banking! Thank you ONE for making my financial life 10X easier!!!! I LOVE ONE!!!

    ...

  • author
    Kathy Garin
    Jul 22, 2021
    Hats off to Nick in Customer Support!

    I was recently helped by one of the customer support team members, Nick, to help resolve how to transfer money from my account to another persons account. Nick was timely in his response, addressed the questions I had about transferring money, and helped clarify any confusion I had about the process. Overall, have had a few interactions with the support team that have been hit or miss, but want to just genuinely shout-out Nick’s attentiveness, timeliness, and demeanor in helping resolve my case.

    ...

  • author
    Leroy Hall
    Jul 14, 2021
    Ridiculous

    Ridiculous. So I had issues with the bank I used to fund my card that caused my account to fall negative leading to my one account being blocked well I've fixed the issue with the funding account I've paid the negative balance and added funds to my one account well now my account is blocked with a positive balance and I can't even get it unblocked even though the balance is now positive I'm waiting on a department to respond to an email now and don't know when that would be but I'm stuck unable to pay rent verge of getting evicted waiting for a response to unblock my account even after fixing issue that was reason it was block this is so wrong

    ...

  • author
    Letha Davis
    Jun 18, 2021
    Not self-employed friendly.

    I switched to One Finance from Simple because they were being bought by a standard bank (BBVA) that doesn't have the same shields in place as Simple and well One Finance has. I'm talking about overdraft and banking fees. So I switched to One... I actually love the app and pockets. But I can't get instant payouts from any payment platform. And you can't connect to anything like Experian or Quickbooks Self-employed to track spending. I'm self employed due to the pandemic and I need at times to get funds quickly and also my credit score is all I have for any type of financing needs. If you get a standard paycheck and don't need to manage your income outside of their own app this is a great service.

    ...

  • author
    DevAna Jackson
    Apr 01, 2021
    Best Web Bank

    I transitioned from Simple to OneFinance back in January after the announcement of Simple's closure. I was skeptical at first because they are relatively new but I love trying out new FinTech. With my handy Chime account on standby I began to send my direct deposits to OneFinance. Getting my paycheck two days earlier is amazing. It the difference between paying rent on time and a $150 late fee. A feature I enjoyed about Simple were the expenses. The downsides of expenses was that it would "hide" the money from sight but you could still technically spend it. With One, you can set up pockets with unique account numbers and they recently added virtual cards to these pockets. I am so happy and recommending this bank to everyone I know! This key to budgeting and making sure the money is there when I need it. The auto save feature is pretty sweet as well. Saving 10% of my paychecks is so easy. Once they as mobile deposits this bank will be top tier.

    ...

  • author
    Got shoes
    Mar 29, 2021
    I can not honestly give them a full review...

    I can not honestly give them a full rating until the routing number issue is corrected and I'm not sure if it's something they have control over. When you start utilizing this account and adding the routing number to various systems, you will soon realize an error. Most systems are not recognizing the routing number, thus not allowing you to add the account for direct deposit. You can not add cash to this account, so this is a major concern. Have you contacted support, is the next question right? Well, of course I have. They have a generic answer and "form" to give to the perspective business or entity where the routing number is not being accepted. It's obvious, that they know about this issue, they created a form to give to customers. The problem is, when you are systematically trying to add the routing number and the business entity's system is not recognizing the routing number, you can not sign up for direct deposit and hand in a form... To whom are you to hand in the form? The system simply wont take the routing number, therefore direct deposit has not been established, therefore this account serves absolutely no purpose.

    ...

  • author
    Leron Tolmachev
    Mar 02, 2021
    Happy convert

    I was a loyal Simple since their public beta. And when BBVA and PNC announced that Simple was shutting down, I went on the hunt for the closest alternative. Although ONE Finance isn't a perfect replacement for Simple, they are committed to making changes and improvements that the users want. They've answered all my questions and their support has been extremely helpful. I really appreciate what they're doing.

    ...

  • author
    Marsh Wildman
    Feb 12, 2021
    Problem solved!

    While the team has successfully solved every issue I've had, and there have only been a few. However a couple of times it took several follow-ups on my part to get to the solution. All in all, it's a good experience.

    ...

  • author
    Johnathan Krage
    Feb 11, 2021
    If you want budgeting, sign up now!

    I'm moving to One Finance with the sad news of the closing of Simple Bank. So far I love the pockets feature, and the sharing of pockets between people! This will make it so easy to deal with shared bills between family members! Also, I think it's brilliant to have each pocket have it's own routing and account number! This means I can have a unique pocket for each bill for it to pull from, even each credit card I use! This will ensure I set aside enough to cover my credit card usage each month, and the card pulls the statement balance in full from it's unique pocket! Makes it much easier to use credit cards without the risk involved with not realizing how much I've spent each month. Also, reoccurring transfers are finally available! This not only allows transfers between the main account and the pockets like with Simple, but we can set reoccurring transfers between pockets as well!!! This means I can pay bills with my credit card and get the security and benefits (like cash back) of doing so, and then I have reoccurring transfers to set aside enough for that bill each month in it's own pocket, and then schedule reoccurring transfers between the pocket for the bill, and the pocket for the credit card I used to pay the bill! It's so easy once it's all setup! Thank you One Finance for making an extremely cool bank right when I need it most. A benefit for people who use gyms is you can sign up for the gym membership with a unique pocket for them, and when you want to cancel just close the pocket preventing further charges! :-P We all know how hard it is to cancel a gym membership, which is why they only accept direct bank drafts to make it as difficult as possible to cancel. Anyway, love you so far One Finance, I hope you don't get shutdown in a few years like Simple is now! 5 stars!

    ...

  • author
    Rebecca Gilmore
    Feb 10, 2021
    Not usable at all

    Sign up was easy. However multiple barriers to actually funding the account. It would not link with 2 different funding accounts due to “security issues” that One blamed on the other banks. I had to manually put in account #s. Which was fine. Except they do the small change deposits to verify the account, then said it wasn’t verified even though I got the deposits. I had to email a PDF of a recent bank statement to link an account. I got an email saying it was linked then the transaction was cancelled for no real reason. I got an email saying Insufficient funds or security issues. All around impossible to use this account. I guess it was too good to be true at those APRs with everyone else below 1%.

    ...

  • author
    David Roster
    Feb 09, 2021
    I’ve been a customer for a couple…

    I’ve been a customer for a couple months now and love the service from employees and product. Pockets are innovative and help me manage my money better. Love the auto save paycheck feature and keep up the good work team!!

    ...

  • author
    Leonard Brooks
    Jan 16, 2021
    I am very pleased with my ONE account

    I am very pleased with my ONE account. Built in credit line is great. Customer service is quick and accurate when you have questions. No hidden monthly fees or overdraft charges. I recommend this banking account to someone who wants good service with great benefits.

    ...

  • author
    L. Ca’trice
    Oct 31, 2020
    Best Bank Award!

    I’m not much of a people person when it comes to business (face to face or via telephone). I prefer online/chat/email - mostly because of the paper trail and ease of ‘recording’ the interaction for further reference - less he said/she said. Normal banks have these options but it’s built on the in person experience ... and hidden fees. When I saw the ad for One Finance, I had a good feeling. Going into the app, I was blown away by how effortless navigation was. No lag, no fluff. A simple yet pleasing interface that was lively enough for me to want to drop in daily, easy enough to load with ease every time. Finding routing number and account information is super simple without needing extra verification. Linking other banks is easy. Now for the account itself - LOVE! The built in credit line versus crazy overdraft fees is pure genius! I thoroughly enjoyed the little bonuses for adding in money. No need to go through a 90 day waiting period either. I get a quick notification for everything so I don’t have to wonder if a transaction has completed. Once I worked with my employer, they were able to add in the “unrecognized” routing number so I look forward to making saving a set portion of my income second nature. The round up option for purchases helps me put a little away with every swipe/tap. The only negative thing I could say is what took so long to make this thing happen?! Keep up the great work!

    ...

  • author
    Melissa
    Oct 01, 2020
    Love this account

    I've been using the account as my primary for the past month and I absolutely love it. The pockets are great to set one for each bill so I can budget better. I set the auto save to round up purchases and a portion of my paycheck. Its like they took the best part of other banks and put it all together. Finally, an account im completely happy with.

    ...

  • author
    Blaine Baker
    Sep 17, 2020
    Easy to use

    Easy to use. I’m not much of an app person but this one works.

    ...

  • author
    Sharon Peddy Baker
    Sep 16, 2020
    I appreciate the great personalized…

    I appreciate the great personalized customer service. And the interest rate is better than anywhere else. Great app too. Easy to navigate.

    ...

  • author
    Hanna Kahl
    Sep 16, 2020
    One has a really nice and simple…

    One has a really nice and simple layout, which makes it easy to use!

    ...

  • author
    Seth
    Sep 16, 2020
    I’ve been so impressed

    I’ve been so impressed by the financial perks and the user interface of One. I started direct depositing my paycheck with them and getting 3% on part of it. So nice!

    ...

  • author
    Neil Joseph
    Sep 11, 2020
    Have really appreciated the great…

    Have really appreciated the great functionality, user experience and ease. Transferring from BofA was incredibly easy. The 1-3% interest rate is unbeatable. Keep up the awesome work!

    ...

  • author
    Arman Afifi
    Sep 11, 2020
    Great product, highly recommended!

    Easy to sign up. The app was intuitive and the card came so fast in the mail. Would highly recommend to colleagues. Can’t beat the direct deposit bonus!

    ...

  • author
    denniskvdm
    Sep 10, 2020
    Great customer service

    Great customer service, they were able to unblock my card quite swiftly!

    ...

  • author
    Kelli Wisuri
    Sep 10, 2020
    No Fees, Great Returns

    Thanks for not gouging me with hidden fees (transparent overdraft protection, yay!) and giving me a great return on my savings account. 5-star all the way!

    ...

  • author
    Thiago Pereira
    Aug 17, 2020
    3% APY on this app. Customer Service on point.

    I am able to get 3% APY on this app for direct deposits (now for 10% of my paycheck). Best in the market currently (Aug 2020). I've had an issue as they've released a feature on the exact day my direct deposit hit. I've reached out to customer service so I could have the benefit of the feature and they've fixed my issue THE SAME DAY! WHO DOES THAT? :) Shout out to "Flor" from Customer Service. Regards, Thiago Pereira

    ...

  • author
    Raza Uddin
    Jul 31, 2020
    The best banking!

    I've had an extremely positive experience with One. From using the web portal to the app, everything has been seamless and easy to use. Linking my Chase bank account was simple and straightforward as well as ordering a new card, which was shipped promptly and quickly. I really appreciate how they are very transparent with the product, actively encourage responsible saving/spending behaviors, and make sure that they don't profit from predatory fees. They make their money honestly- by providing valuable banking services! I'm looking forward to more integrations like ADP, Apple Wallet, etc. Keep up the great work!

    ...

  • author
    E.D.
    Jul 22, 2020
    Possible Scam

    I was on a waitlist for a few weeks and was notified by email and text saying I can finally sign up. I signed up the same day I received those notifications. They're site requested for my personal information such as my license and social security number . Right after I submitted, within minutes, I got an email saying that they can't open an account for me at this time. I sent an email asking why and the response they gave me was that "we were unable to verify your identifying information." This doesn't make any sense. I feel like it's a scam.

    ...

    site logo

    Copyright © 2009-2021 Natural Intelligence Ltd. All Rights Reserved.

    By using our content, products & services you agree to our Terms of Use and Privacy Policy.

    • About Us
    • Cookie Policy
    • Terms of Use
    • Partner with us
    • Privacy Policy
    • Contact

    Designed to help users make confident decisions online, this website contains information about a wide range of products and services. Certain details, including but not limited to prices and special offers, are provided to us directly from our partners and are dynamic and subject to change at any time without prior notice. Though based on meticulous research, the information we share does not constitute legal or professional advice or forecast, and should not be treated as such. Company listings on this site DO NOT imply endorsement. We are not a loan provider or a broker and we do not offer loans or mortgages directly to end users, but only allows users to match with lending partners and platforms that may extend a loan. All loan approval decisions and terms are determined by the loan providers at the time of your application with them. Any matching request submitted through our website does not constitute a loan application and you will have to submit a loan application to the respective lender before the lender provides you with an actual offer. We do not warrant that you will be approved for a loan, nor that you will be offered a loan with the same terms presented on our website.

    Reproduction in whole or in part is strictly prohibited.