Credit One Bank, N.A., simply referred to as Credit One Bank, is a U.S.-based bank specializing in credit cards. It has corporate offices in Las Vegas, Nevada. The bank is held by Credit One Financial, a bank holding company registered in Nevada. Credit One Financial is a wholly owned subsidiary of Sherman Financial Group, LLC. As of 2017, Credit One Bank services more than 7 million cardholders across the United States.
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National bank charter
Credit One Bank operates under a CEBA national bank charter (OCC Charter Number: 20291). This type of charter affects the bank's lending and deposit functions. Requirements are set forth in an amendment to the Bank Holding Company Act (BHCA), the Competitive Equality Banking Act of 1987, hence the term CEBA bank. In order to qualify for this type of bank charter, Credit One Bank can engage only in credit card activities. CEBA banks may not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties. They may also not accept any savings or time deposits of less than $100 million unless they are used as collateral for secured credit card loans. Furthermore, they may not engage in the business of making commercial loans. Any deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Credit One's FDIC Certificate Number is 25620.
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History
Credit One Bank began operations as a full-service bank under the name First National Bank of Marin (FNBM) in San Rafael, California, on July 30, 1984. FNBM maintained a wide range of products until 1995 when it began focusing primarily on two types of products, partially and fully secured credit cards. FNBM received a limited purpose designation from the Office of the Comptroller of the Currency (OCC), a bureau of the United States Department of the Treasury, in June 1996. Limited purpose banks offer only a narrow product line. The bank moved from San Rafael, California, to Las Vegas, Nevada, in November 1998. FNBM obtained its CEBA status in March 2005 and subsequently changed its name to Credit One Bank, N.A. on February 1, 2006.
Registered trademarks
On April 26, 2002, FNBM filed an application for the mark CREDIT ONE BANK with the United States Patent and Trademark Office (USPTO). The mark was granted registration status (Registration Number 3121113) on July 25, 2006, after the bank changed its name to Credit One Bank, N.A. Additional registered trademarks owned by Credit One Bank include CREDIT ONE (Registration Number 330342) granted on October 2, 2007, and CREDIT ONE FINANCIAL (Registration Number 3330575) granted on November 6, 2007.
Sponsorships
Credit One Bank first got involved with sponsorship with Chip Ganassi Racing in 2016 when Jamie McMurray sported a Credit One Bank number 1 car for 2 races in 2016. The next year, the sponsor shifted to Kyle Larson who sported the car in eight Monster Energy Cup events and two NASCAR Xfinity Series events. After Target's departure from NASCAR after 2017, Credit One Bank became Larson's primary sponsor starting the following season.
Starting in 2017, Credit One Bank became a founding partner with the National Hockey League's Vegas Golden Knights in their inaugural season.
References
External links
- Credit One's primary website
- Credit One's direct mail fulfillment website
Source of article : Wikipedia
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