If you’ve ever held a Credit One Bank credit card account, there’s a chance you could receive a cash payment in 2025. A recent class action lawsuit has resulted in a multi-million dollar settlement after allegations that Credit One Bank charged customers for unauthorized services like credit monitoring and identity protection. If you were affected, you may be eligible to receive between $50 and $300, depending on your account history and claim status.
Why Was Credit One Bank Sued?
The lawsuit alleged that Credit One Bank enrolled customers into third-party credit services without proper consent and charged hidden fees over time. While the bank did not admit wrongdoing, it agreed to settle the case to avoid ongoing legal proceedings. The federal court has approved the settlement, and payouts will begin later this year.
Who Is Eligible for the Settlement?
To qualify for the 2025 settlement, you must meet the following conditions:
- You had a Credit One Bank credit card between January 2015 and December 2022.
- You were charged for services you didn’t knowingly agree to.
- You did not opt out of the settlement agreement.
If you received a legal notice via mail or email, you are likely included in the settlement group. However, even without a notice, you can still file a claim if you meet the criteria.
Expected Payout Amounts
The total settlement fund is estimated between $15 million and $25 million. The amount you receive will depend on how much you were charged, how many people file valid claims, and whether any refunds were already issued to you. On average, most claimants can expect $50 to $300 in compensation.
Important Dates to Remember
Here are the key dates related to the Credit One settlement:
- Claim Filing Deadline: August 15, 2025
- Final Approval Hearing: September 10, 2025
- Expected Payouts: Between late October and early November 2025
Payments will be sent either via check or direct deposit, depending on the option you choose while submitting your claim.
How to File a Claim
Filing a claim is simple. Visit the official settlement website mentioned in your notice, enter your Claim ID or account information, and select your preferred payment method. Make sure to double-check your details, as errors may result in delayed or rejected claims.
What Happens If You Do Nothing?
If you don’t take action, you may lose the opportunity to receive a payout. While some customers may get automatic payments, most will need to file a claim to receive anything. It’s strongly recommended to verify your eligibility and submit a claim before the deadline.
Disclaimer
This article is intended for informational purposes only and does not constitute legal or financial advice. For specific guidance on your eligibility or filing process, please visit the official settlement website or consult with a licensed attorney.
