Company type | Private |
---|---|
Industry | Financial services |
Founded | 1984San Rafael, California | , in
Headquarters | Las Vegas, Nevada [1] |
Key people | Robert DeJong (CEO) |
Products | Credit cards |
Revenue | US$752.514 million (2021) [2] |
US$223.423 million (2021) | |
Total assets | US$878.394 million (2021) |
Website | www.CreditOneBank.com |
Credit One Bank, N.A. is an American bank and financial services company specializing in credit cards, particularly for borrowers with low credit scores. It is a wholly-owned subsidiary of Credit One Financial, incorporated in Nevada. Credit One Financial is an S corporation that is affiliated with Sherman Financial Group through common beneficial ownership. [1] [3] Despite the similar names and "nearly identical" logos, Credit One is not affiliated with the much larger Capital One. [4]
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.[ citation needed ] 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.[ citation needed ] 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.[ citation needed ] Limited purpose banks offer only a narrow product line. The bank moved from San Rafael, California, to Las Vegas, Nevada, in November 1998.[ citation needed ] FNBM obtained its CEBA status in March 2005[ citation needed ] and subsequently changed its name to Credit One Bank, N.A. on February 1, 2006, debuting a new logo. The Credit One Bank logo and the Capital One logo both have an arcing "swoosh" above their names, leading to some confusion among consumers. Capital One adopted its blue and red logo in 2008. Capital One's subsequent $13 billion marketing campaign led to a large number of new customers for both itself and Credit One, some of whom were unaware that the two were different companies. [4]
In 2018, Credit One Bank moved its headquarters to a new facility. [4] [5] In 2021, the bank expanded its headquarters. [6]
In June 2022, a bankruptcy judge found Credit One Bank liable to roughly 288,000 credit card customers whose credit reports weren't corrected to reflect a filing of personal bankruptcy. [7]
Credit One Bank started sponsoring Chip Ganassi Racing in 2016. In 2017, Jamie McMurray drove a Credit One Bank No. 1 car for four races. The next year, the bank changed its sponsorship to Kyle Larson, who drove a sponsored No. 42 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 for the No. 42 Chevrolet starting the following season. [8] Since 2016, Credit One Bank has been sponsoring the broadcast of the white flag lap of most NASCAR races. [9]
In 2017, Credit One Bank became a sponsor of the National Hockey League's Vegas Golden Knights in their inaugural season. [10]
In 2019, Credit One Bank became a founding partner with Minor League Baseball's Las Vegas Aviators, a Triple-A affiliate of the Oakland Athletics. [11] Credit One Bank is also a sponsor of the Las Vegas Raiders. [12]
Credit One Bank has sponsored the women's tennis Charleston Open since 2020, first with the special Credit One Bank Invitational that restarted tennis after the pandemic lockdowns . [13] [14] A year later, Credit One replaced Chinese automaker Geely as the full title sponsor of the Charleston Open in South Carolina in addition to attaining the stadium's naming rights. [15] It was named the official credit card of the Las Vegas Raiders that same year. [16]
The Las Vegas Raiders are a professional American football team based in the Las Vegas metropolitan area. The Raiders compete in the National Football League (NFL) as a member club of the league's American Football Conference (AFC) West division. The club plays its home games at Allegiant Stadium in Paradise, Nevada, and is headquartered in Henderson, Nevada.
Las Vegas, often known simply as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-largest in the Southwestern United States. Las Vegas is an internationally renowned major resort city, known primarily for its gambling, shopping, fine dining, entertainment, and nightlife, with most venues centered on downtown Las Vegas and more to the Las Vegas Strip just outside city limits. The Las Vegas Valley as a whole serves as the leading financial, commercial, and cultural center for Nevada. According to the United States Census Bureau, the city had 641,903 residents in 2020, with a metropolitan population of 2,227,053, making it the 25th-most populous city in the United States.
Paradise is an unincorporated town and census-designated place (CDP) in Clark County, Nevada, United States, adjacent to the city of Las Vegas. It was formed on December 8, 1950. Its population was 191,238 at the 2020 census, making it the fifth-most-populous CDP in the United States; if it were an incorporated city, it would be the fifth-largest in Nevada. As an unincorporated town, it is governed by the Clark County Commission with input from the Paradise Town Advisory Board.
Oakland–Alameda County Coliseum is a multi-purpose stadium in Oakland, California, United States. It is part of the Oakland–Alameda County Coliseum Complex, with the adjacent Oakland Arena, near Interstate 880. In 2017, the playing surface was dedicated as Rickey Henderson Field in honor of Major League Baseball Hall of Famer and former Athletics left fielder Rickey Henderson.
Sam Boyd Stadium is a football stadium in the western United States, located in Whitney, Nevada, an unincorporated community in the Las Vegas Valley. It honors Sam Boyd (1910–1993), a major figure in the hotel and casino industry in Las Vegas. The stadium consisted of an uncovered horseshoe-shaped single-decked bowl, with temporary seating occasionally erected in the open north end zone. The artificial turf field had a conventional north–south orientation, at an elevation of 1,600 feet (490 m) above sea level.
Eldorado High School is a public high school in Clark County, Nevada, United States. The school is a part of the Clark County School District, located in Sunrise Manor, an unincorporated area on the northeast part of the Las Vegas Valley, south of Nellis Air Force Base. Its team mascot is the Sundevils and its school colors are maroon and gold.
The Pennzoil 400 presented by Jiffy Lube is a NASCAR Cup Series stock car race held annually at Las Vegas Motor Speedway in Las Vegas, Nevada. It is the first of two races at Las Vegas with the other one being the South Point 400 in the playoffs. The inaugural race was held in 1998. For several years, the race was sponsored by United Auto Workers and DaimlerChrysler. From its inception, the race was run at a distance of 400 miles (640 km) except 2009, which was 427 miles. The extra 27 miles in the 2009 race were added by the sponsors Carroll Shelby International.
Cashman Field is a stadium in Downtown Las Vegas, Nevada, United States. It is primarily used for soccer as the home field of Las Vegas Lights FC of the USL Championship. Originally built as a baseball stadium, it was the home of the Triple-A Las Vegas Stars/51s Minor League Baseball from 1983 to 2018, and home to the Vegas Vipers of the XFL in 2023. The stadium is connected to Cashman Center, an exhibit hall and theater operated by the City of Las Vegas. The complex, built on the site of a former stadium of the same name, is named for James "Big Jim" Cashman and his family, who have been Las Vegas entrepreneurs for several generations.
The Las Vegas Convention and Visitors Authority(LVCVA) is a government agency and the official destination marketing organization for Southern Nevada. It was founded by the Nevada Legislature in 1955. The LVCVA owns and operates the Las Vegas Convention Center (LVCC) and is responsible for the advertising campaigns for the Clark County, Nevada area. The LVCVA also owns the Las Vegas Convention Center Loop, the Las Vegas Monorail, and the Las Vegas News Bureau. The LVCVA previously operated the Cashman Center complex; however the City of Las Vegas took control at the end of 2017 and is evaluating possibilities for the facility's future.
The Charleston Open, currently sponsored by Credit One, is a WTA Tour-affiliated professional tennis tournament for women, held every year since 1973. It is the oldest professional all-women's tournament in America with a $888,636 purse. The tournament celebrated 50 years in 2022 at the newly renovated Credit One Stadium located in Charleston, South Carolina.
The Las Vegas metropolitan area is home to many sports, most of which take place in the unincorporated communities around Las Vegas rather than in the city itself. Currently, the Las Vegas Valley has three major league professional teams: the Vegas Golden Knights of the National Hockey League (NHL), which began play in 2017 as the region's first major pro team, the Las Vegas Raiders of the National Football League (NFL) which began play in 2020 after relocating from Oakland, California, and the Las Vegas Aces of the Women's National Basketball Association (WNBA). The Oakland Athletics of Major League Baseball (MLB) plan to move to Las Vegas to play at a new ballpark which is estimated to be complete by 2028. When this relocation happens, Las Vegas will have progressed from being the largest market in the U.S. with no teams in the men's major professional leagues to being one of the smallest markets with at least three such teams within less than a decade. In addition, the National Basketball Association has publicly confirmed Las Vegas is being considered for an expansion franchise, which would potentially make Las Vegas by far the fastest market to progress from no teams in the Big Four leagues to having teams in all four leagues.
The USA Sevens is a rugby sevens tournament held annually during March in the United States. The USA Sevens is the largest annual rugby competition in North America, drawing over 60,000 fans, and is broadcast live in the United States by ESPN. The USA Sevens was introduced in 2004, originally in the Los Angeles suburb of Carson, California. The event moved to San Diego in 2007, and from there moved to Sam Boyd Stadium in Las Vegas in 2010. It then spent the entire decade of the 2010s in Las Vegas before returning to Carson in 2020. The USA Sevens tournament features 16 teams representing countries from every inhabited continent, including the host, the U.S. national team.
The Allegiant Travel Company is an American airline holding and hospitality company headquartered in the Las Vegas suburb of Summerlin, Nevada. The company owns the airline Allegiant Air and Sunseeker Resorts.
Kyle Miyata Larson is an American professional auto racing driver. He competes full-time in the NASCAR Cup Series, driving the No. 5 Chevrolet Camaro ZL1 for Hendrick Motorsports and part-time in the NASCAR Xfinity Series, driving the No. 17 Chevrolet Camaro for the same team. Before and throughout his stock car racing career, Larson has been highly successful in dirt track racing, with wins in countless prestigious events including the Kings Royal, Knoxville Nationals, and the Chili Bowl Nationals. He also raced in many other forms of racing as an overall winner of the 24 Hours of Daytona sports car race, having won the event with Chip Ganassi Racing in 2015. Larson was named one of NASCAR's 75 Greatest Drivers in 2023. In 2024, Larson was victorious in the closest finish in NASCAR Cup Series history.
Allegiant Stadium is a domed multi-purpose stadium located in Paradise, Nevada, southwest of adjacent Las Vegas. Opened in 2020, it is the home field of the Las Vegas Raiders of the National Football League (NFL) and the University of Nevada, Las Vegas (UNLV) Rebels college football team. The stadium also hosts the Vegas Kickoff Classic in early September and the Las Vegas Bowl in December. The stadium hosted Super Bowl LVIII in February 2024 and will host Wrestlemania 41 in 2025.
The Oakland Raiders relocation to Las Vegas was a successful effort by the owner of the Oakland Raiders to relocate the American football team from Oakland, California, to Paradise, Nevada, after the 2019 National Football League (NFL) season. The team began play as the Las Vegas Raiders in the 2020 NFL season.
DC Solar Solutions Inc., trading as DC Solar, was a Benicia, California solar power supplier company whose owners lived lavishly on ill-gotten gains in Martinez. The company was shut down by the Federal Bureau of Investigation in 2018 after it turned out to be a billion-dollar Ponzi scheme.
Benjamin W. Navarro is an American businessman, the founder and chief executive officer (CEO) of Sherman Financial Group, LLC, which owns Credit One Bank.
The NASCAR operation of Chip Ganassi Racing was established in 1989 by Cuban-American businessman Felix Sabates. The team was known as SABCO Racing, formed after Sabates purchased an R&D team from Hendrick Motorsports. The team was renamed Team SABCO in 1996. In 2001, Ganassi bought 80% of the ownership interest in the then-two-car team to form Chip Ganassi Racing with Felix Sabates; the same year the team switched from Chevrolet to full-works Dodge and received a same partnership treatment as Penske Racing, Evernham Motorsports, Bill Davis Racing, Melling Racing and Petty Enterprises teams. In 2009, Ganassi partnered with Dale Earnhardt, Inc. owner Teresa Earnhardt to merge their NASCAR operations into Ganassi's shop and entered under the Earnhardt Ganassi Racing with Felix Sabates banner, while returning to Chevrolet equipment. The NASCAR team dropped the Earnhardt name in 2014, and Ganassi revealed that Teresa was never truly involved with the team. Rob Kauffman, chairman of the Race Team Alliance, purchased a stake in the team in 2015. The NASCAR program has fielded full-time entries for notable drivers including Kyle Petty, Joe Nemechek, Sterling Marlin, Jimmy Spencer, Juan Pablo Montoya, Jamie McMurray, Kyle Larson, Kurt Busch, and Ross Chastain. After already having his name removed from the team previously, at the end of the 2019 season, Sabates announced his retirement as a co-owner from the team, taking effect after the 2020 season.
The 2022 Pennzoil 400 presented by Jiffy Lube was the third stock car race of the 2022 NASCAR Cup Series and the 25th running of the event. The race was held on Sunday, March 6, 2022, in North Las Vegas, Nevada at Las Vegas Motor Speedway, a 1.5 miles (2.4 km) permanent D-shaped oval racetrack. The race was extended from its scheduled 267 laps to 274 due to a NASCAR overtime caused by a crash including Erik Jones and Bubba Wallace. At race's end, Alex Bowman, driving for Hendrick Motorsports, would manage to climb to the front on the final restart and held off fellow teammate and eventual second-place finisher Kyle Larson to win his seventh career NASCAR Cup Series win and his first of the season. To fill out the top 3, Ross Chastain of the Trackhouse Racing Team would finish third.