A major class action lawsuit is unfolding against Credit One Bank, and it could lead to settlement payments for millions of cardholders across the U.S. The case centers on allegedly illegal online payment fees and misleading practices that may have cost consumers millions. Though the court has yet to confirm a settlement, May 2025 is being floated as a possible timeframe for compensation to begin — assuming the case concludes by then.
Here’s what you need to know about the Credit One Settlement Payment, how to check if you’re eligible, and how to prepare for a potential payout.
Credit One Settlement Payment – What’s the Case About?
The class action lawsuit was filed by Anthony Waldon (New York) and Jason Goldstein (Florida). The plaintiffs claim they were charged “express payment” fees by Credit One even though their payments were processed automatically, without any actual human interaction — a potential violation of the Truth in Lending Act (TILA).
Key Allegations:
- Credit One charged express payment fees for online transactions.
- The payments were processed automatically — not by a live representative.
- The bank misled customers by claiming the service was expedited by human agents.
- These charges may have violated TILA, which prohibits separate payment fees unless handled by a live customer service rep.
According to the Consumer Financial Protection Bureau (CFPB), such fees are not legal if there’s no live agent involvement — a critical point in this case.
Estimated Settlement Amount
As of now, there’s no official confirmation of the payout amount. However, reports and rumors suggest eligible customers may receive up to $1,000, though this figure could vary significantly based on:
- The court’s final judgment or settlement agreement
- The number of valid claims submitted
- Proof of actual losses or fees incurred
The lawsuit alleges that Credit One earned over $5 million in questionable fees from customers. But the individual compensation could be lower depending on how the settlement fund is divided.
Class Action Timeline
| Event | Status |
|---|---|
| Lawsuit Filed | Active |
| Settlement Finalized | Not yet |
| Estimated Payment Date | Rumored: May 2025 |
| Official Claim Form Release | Pending |
| Final Filing Deadline | Not announced |
Important:
This class action is still in progress. Until the court certifies the settlement, all payment dates and amounts remain speculative.
How to Apply – What to Do Now
Even though the claim forms are not yet available, there are important steps Credit One customers can take now to prepare:
1. Monitor Your Account
Check your past account statements for express payment fees or any unexplained charges that may relate to the case.
2. Gather Documentation
Save any documents, emails, or screenshots showing:
- You were charged an express payment fee
- There was no live representative involved
- Your payment was made via Credit One’s online system
3. Check Official Websites
When the claim process opens, details will likely be posted on:
- www.creditonebank.com
- Dedicated class action sites like TopClassActions.com
4. Watch Your Inbox
In similar lawsuits, banks often notify eligible customers directly via email or mail. Keep an eye on any communication from Credit One regarding legal claims or settlements.
5. Don’t Pay Third Parties
Filing a claim will be free once forms are released. Avoid third-party services that charge a fee to “help” file on your behalf.
What If You’re Eligible?
If you’re a Credit One cardholder who paid express payment fees without interacting with a live agent, you may qualify for compensation. Once the claim form is available:
- Complete it carefully
- Submit by the official deadline (once announced)
- Attach any supporting documents
Government Oversight and Legal Impact
This lawsuit isn’t just about small fees — it’s about broader consumer protection and financial transparency. The CFPB and legal advocates have long warned against “junk fees” that unfairly burden consumers. If this case results in a win for customers, it may push banks and credit card issuers nationwide to revise their fee structures.
FAQs
Is the Credit One settlement official yet?
No. The case is ongoing. No final settlement or payment schedule has been confirmed by the court.
How will I know if I qualify?
You may be eligible if you were charged express payment fees without live assistance. Exact eligibility will be outlined in the official claim form.
When can I apply?
The claim form has not yet been released. Monitor the official Credit One website and class action legal sites for updates.
Can I file a claim if I no longer have a Credit One account?
Yes — as long as you were a customer during the affected period and have proof of the disputed fees.