Imagine this.
You’re behind on rent. Your phone won’t stop ringing. You need gas to get to work. And in the middle of all that stress, an envelope arrives promising hope: “You’re pre-approved for a credit card!”
That card? It’s from Credit One.
What you don’t see until later is how this “opportunity” comes with a minefield of fees, interest charges, and fine print so thick it makes a payday loan look generous.
But here’s the kicker: this business model didn’t just help someone get rich.
It helped create billionaires.
If You’re Poor, You’re More Profitable
According to Forbes and a powerful new video exposé, Credit One built a financial fortress on the backs of struggling Americans.
Ben Navarro—father of tennis phenom Emma Navarro and former Citi/Goldman Sachs banker—has made an estimated $4.8 billion fortune by lending to people with poor or no credit and collecting from them through an avalanche of fees.
Let that sink in.
People with the least financial margin were turned into the most profitable customers.
And we’re not talking about just charging interest. We’re talking:
- Annual fees before the card even arrives
- Fees to make a payment by phone
- Fees for increasing your limit
- Fees for checking your balance too often
Oh, and if you’re late? They’ll call. A lot.
What Happens With Credit One When You Miss a Payment?
Let’s be real—life happens. One missed payment can trigger a tsunami of trouble:
- Repeated daily calls (yes, multiple times a day)
- Late fees piled on top of existing debt
- A quick path to being sued over a few hundred bucks
According to Forbes, Credit One sued more than 14,000 people in 2023 alone. And most of those lawsuits were over balances under $1,000.
That’s not financial services. That’s a business model built on punishment.
They Don’t Want You to Pay Off the Card—They Want You to Stay in the Cycle
Let me break this down in plain English.
Credit One isn’t hoping you pay off your card in full each month. They’re banking on the opposite.
Why?
Because every late payment… Every interest charge… Every desperate payment over the phone…
Means more money for them.
And that’s how you turn subprime borrowers into a multibillion-dollar machine. Not through credit education. Not through second chances. But through a slow financial bleed.
But Wait—Isn’t That Just Capitalism?
Some defenders might say, “Well, nobody forced them to sign up.”
Sure. But when you’re in survival mode, options look different.
It’s not just about bad decisions. It’s about bad systems preying on desperation.
In fact, if this story has your stomach in knots, here’s a book I wrote that might help: How to Get Out of Debt Without Getting Scammed and What to Do if You Have Been. It walks through how to spot shady credit offers, avoid traps, and find real help.
Because what Credit One is doing isn’t just “business.” It’s debt as a weapon.
Who’s Holding Credit One Accountable?
Honestly? Not many.
The company is privately owned. The billionaire duo behind it—Navarro and his reclusive partner Brett Hildebrand—stay out of the spotlight.
Meanwhile, regulators have been slow to act. And consumers? They often feel too ashamed to speak out.
That’s why stories like this video and investigative pieces matter. They shine a light on financial abuse disguised as opportunity.
Here’s What You Can Do Instead
If you’re in debt, here’s the honest truth: you don’t need to rely on predatory credit cards to survive.
Here’s where to start:
- Track your spending for 30 days — Not to feel guilty, but to understand where your money is really going.
- Build a spending plan based on your reality — Not some budget fantasy from a YouTube finance bro.
- Talk to someone like Damon Day — He’s a debt coach I trust, and he’s not afraid to tell it to you straight.
- Check your credit report and score through tools like Credit Karma — not to obsess, but to get clear.
And if you’re thinking about a balance transfer or personal loan to consolidate debt, remember:
- Balance transfer cards only work if you can pay it off during the promo period
- Personal loans require good credit to get decent terms
- Debt consolidation doesn’t erase debt, it just reshuffles it
Don’t fall into a deeper hole just to escape the one you’re in.
TL;DR: They Got Rich. You Got Trapped.
Credit One is what happens when Wall Street meets payday lending with a tuxedo on.
They profit when you struggle. They profit when you panic. They profit when you can’t pay.
And yet, they present themselves as a helping hand.
It’s not help. It’s a handcuff.
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FAQ
Who owns Credit One?
Credit One is owned by Sherman Financial Group, founded by Ben Navarro, and co-managed by Brett Hildebrand.
Is Credit One the same as Capital One?
No. Despite similar logos, Credit One is not affiliated with Capital One. It’s often confused with them, which some allege is intentional.
Are Credit One cards good for building credit?
They can help improve your score if used perfectly, but the high fees and penalties make it a dangerous tool for those already struggling.
What’s a better alternative to Credit One?
Consider secured credit cards from local credit unions or fintech tools like Credit Karma or Betterment to track your financial progress safely.
