Credit One Bank, a major credit card company in the U.S., resolved a big legal tussle and settled for $14 million (about Rs. 117 crore) in 2025. The compensation was for customers who were subjected to unauthorized robocalls and wrongful banking practices perpetrated by Credit One Bank between 2014 and 2019.
If you have been a current/former customer of Credit One, this article is of great importance to you.
What was the case filed against Credit One Bank?
The settlement was one of the two issues:
- Unauthorized robocalls (Robocalls Without Consent): Automated calls made to customers without their permission were harassing many customers repeatedly. They were calling to remind customers about their debt or bill payments without prior consent.
- Malpractices in Banking: Many customers complained that the bank entangled them with hidden fees, exorbitant interest rates, and dubious transactions. Their financial losses also translated to the detachment in their credit history.
Are you eligible for this settlement?
If you were a customer of Credit One Bank during the period from 2014 to 2019 and were a victim of wrongful banking practices without your consent, then it is an affirmative yes. If you have received any robocall from them in that period too, you may be eligible to file a claim under this settlement.
How much money can you get?
Your settlement amount shall depend on how many people have filed claims, and of what extent was your loss.
- Total fund amount: $14 million
- Remaining amount after legal expenses: Approximately $9 million
- Amount for the eligible customer: From $100 to $1,000
- Mode of payment: Direct deposit/check
The figures, however, are estimates and may change.
How to claim?
To avail of the settlement, the following process will be followed:
- The official website for the settlement should be monitored.
- Upon receipt of a notice from the bank (either via email or through post), read it thoroughly.
- Complete the claim form, by whichever means suits you best (i.e., online filing or by post).
- Select your information and the method of payment.
- The claim should, then, be submitted within the specified period.
The date on which payment will be disbursed has not been set, but the website and email should provide updates.
What to look out for?
- Do not claim from any unknown website.
- Be wary if anyone requests banking details or any other personal information.
- Read every letter or email carefully-sometimes it could look like spam but would contain essential information.
Why are we tracking this case?
Credit One Bank is one of the largest sub-prime credit card providers in the US. This settlement is an enormous relief for millions of customers who have suffered losses at the hands of the bank. It goes beyond compensatory redress and stands as a landmark in favor of customers’ rights.
Conclusion
If you have held an account with Credit One Bank between 2014 and 2019, or were harassed by such calls in the given period, this is your chance to claim your compensation.
File your claim, know your rights, and teach a strong lesson that nothing and no one can go against customer trust.
FAQs
Q1. Who is eligible to receive money from the Credit One Bank Settlement?
A. If you received robocalls from Credit One Bank between 2014 and 2019 without giving prior consent, or if you were affected by unfair banking practices during that period, you may be eligible. Both current and former customers are included.
Q2. How much compensation can I expect to receive?
A. The payout amount depends on how many people file a claim and the extent of damages reported. While average payments may range from $100 to $1,000, some may receive more based on individual circumstances.
Q3. How can I file a claim for the Credit One Settlement?
A. Claims can be filed online through the official settlement website or by mail using a claim form. You’ll need to provide basic proof of contact with the bank and how you were affected.
Q4. When will I receive my payment if I’m eligible?
A. The final review of claims is underway, and payments are expected to begin later in 2025. Approved recipients may receive checks via mail or direct deposit, depending on the option they selected.
Q5. Is this settlement related to any legal wrongdoing admitted by Credit One Bank?
A. No, Credit One Bank has not admitted any wrongdoing but has agreed to the settlement to resolve the matter. It’s a legal resolution to avoid prolonged litigation while compensating affected consumers.
