Credit One Bank SCRA: 29.74% Cards, Annual Fees and the 6% Cap

Credit One Bank owes you the SCRA’s 6% cap on any card you carried into active duty, but you will not find a Credit One page that says so. We read its full sitemap (993 addresses) and the card agreement file it posts for every current product on November 5, 2026. There is no SCRA page, form, phone line or rate. The one military article on its site is a 2018 budgeting piece that never mentions the SCRA. The agreements carry a Military Lending Act section, which covers cards opened during service, and nothing on the SCRA, which covers cards opened before it.

So the statute is the whole program here, and on these cards the statute is worth a lot. Nearly every card in the current agreements has a 29.74% purchase APR (two older versions list 28.74%), and most charge an annual fee. Section 3937(d)(1) counts “service charges, renewal charges, fees, or any other charges (except bona fide insurance)” as interest, so both fall under the same 6% ceiling.

What the cap is worth on a Credit One card

A worked example with figures from Credit One’s own agreements: a $1,000 balance, owed before your orders, on a card with a 29.74% APR and a $99 annual fee billed at $8.25 a month (the American Express for Rebuilding Credit card after its first year, for example).

Illustration: simple interest on a balance left unchanged for a year. Credit One uses a daily balance, so real charges differ a little. Treating the annual fee as interest is our reading of § 3937(d)(1); Credit One publishes no position, so ask for its answer in writing. Your own figure comes from the savings calculator.

The fees vary by card. From the agreement file, version 2026.09.30:

Checked November 5, 2026. Several products appear in more than one version, and your own pricing summary is the one that applies. Cash advance APRs run two points higher (31.74% on the Wander card), and late and returned payment fees are up to $39. On a pre-service balance all of it counts toward the 6%.

The cap lowers the payment too. Section 3937(a)(3) cuts each periodic payment by the forgiven interest for that period, so the minimum should drop once the cap is on.

How to send the request when there is no SCRA desk

Credit One’s customer service page lists one mailing address for letters: Credit One Bank, P.O. Box 98873, Las Vegas, NV 89193-8873 (General Correspondence). Its card line is 1-877-825-3242 (toll-free, TTY/TDD), and from outside the U.S. 1-702-405-2042. The agreements route other written requests to the same P.O. Box 98873, so that is the address its staff work from. Payments go to a different box in City of Industry, California. Do not send orders there.

File your SCRA request with Credit One

1. Confirm the card was opened before your active-duty start date (for a Reserve or Guard member, before you got your orders). The eligibility checker settles close calls.
2. Write a signed letter that cites 50 U.S.C. § 3937, gives your name and the last four digits of each Credit One account, asks for 6% from your call-up date, and asks how the annual fee will be treated. The letter generator drafts it.
3. Attach a copy of your orders and any extension. If you cannot get them, the statute also accepts “any other appropriate indicator of military service,” such as a certified letter from your commanding officer.
4. Mail it to Credit One Bank, P.O. Box 98873, Las Vegas, NV 89193-8873 with tracking, no later than 180 days after you leave service.
5. Two weeks after delivery, call 1-877-825-3242, confirm the letter is on the account, and ask for the applied rate and fee treatment in writing.
6. Check the next two statements for the lower rate, the fee and a smaller minimum. Keep paying on time.

Credit One prints no processing time. If two billing cycles pass with no change, send a second letter that quotes the date your first one was delivered, and use the refund guide to work out the credit you are owed back to your call-up date.

Where Credit One cardholders lose money

Closing the card does not stop the fee. The agreement says that if Credit One closes your account, “the Annual Fee will continue to be charged until you pay your outstanding balance in full.” Closing a card in the middle of a deployment saves nothing. The SCRA request is what limits the cost of the balance.

New charges after your orders are not covered. The cap reaches debt you took on before service. Purchases you make after your orders start are new debt, which is why the revolving-credit guide suggests not using a capped card for new spending while you serve.

No published rate means you hold Credit One to 6%. Some issuers go lower, and you can compare them on the bank leaderboard. Credit One prints no voluntary figure, so 6%, with the excess forgiven, is the number to put in your letter and the number to check on your statement.

Payments are still reported. The SCRA does not pause the account, and a late payment during service can still reach your credit report. The credit impact guide covers what the act does and does not protect.

Opened the card while serving

If you opened the account while on qualifying active duty, the SCRA cap does not apply, and the Military Lending Act does. Credit One’s agreements put it in writing: for a covered borrower, as defined in 32 CFR 232.5(b), “the arbitration provision shall not apply to you,” the Duplicate Statement Fee, Sales Slip Request Fee and Replacement Card Fee do not apply, and “any other provision of this Agreement that is inconsistent with the Military Lending Act shall not apply to you.” The MLA limit is a 36% Military APR that folds in most fees, which the MAPR explainer works through. The arbitration guide explains why losing the arbitration clause matters if you ever have to sue.

The law behind this: 50 U.S.C. § 3937

Maximum rate of interest on debts incurred before military service: read the statute , or read § 3937 in plain English, with its enforcement record .