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ONE is an online banking platform that offers hybrid checking/savings accounts. Included in our guide to the best high-yield savings accounts, ONE now offers a credit builder product for existing members. With zero fees and tri-bureau reporting, ONE Credit Builder is a no-risk approach that can help individuals boost their credit. Read our ONE Credit Builder review to determine if this path fits your financial needs.

In a nod to its name, ONE has been helping consumers save, spend and grow their money on a single platform since 2019; in April 2022, it was acquired by Hazel (an independent fintech launched by Walmart and Ribbit Capital). ONE offers a robust array of financial tools from checking and savings accounts to debit cards, plus flexible "pockets" designed to help users manage their money in one place. 

Its credit builder acts like a secured credit card, though it comes with no interest or fees. ONE Credit Builder would be a shoo-in for our guide on the best credit builder loans, except it has one huge caveat. It's unavailable for new ONE members, so the majority of consumers won't be able to access this product.

Customer reviews of ONE average 4.7 stars out of five on both Apple and Google app stores. However, it fares far worse on Trustpilot, receiving an average of 1.6 stars out of five across 112 reviews. Most complaints were associated with discontinued features in the wake of the acquisition by Hazel, fees related to its in-store gift cards, and poor customer service (although multiple negative reviews had recent responses from agents offering suggestions for seeking support).

Note that all reviews of ONE, positive and negative, pertain to the platform as a whole, not just its credit builder.

ONE refers to its different accounts as "pockets." Start using ONE's Credit Builder pocket by adding at least $20 to your account. Note that this money cannot be taken out of your Credit Builder pocket, so add with caution.

When you spend with your ONE Mastercard, the money comes out of this pocket. This money is held by ONE until it's used to pay off your balance on the 25th of each month. Your balance will be reported to the three credit bureaus each month. However, your credit utilization doesn't get reported, so you can spend 100% of the balance you deposit in your account without worrying about your credit utilization ratio hurting your credit score.

Unlike others in the industry that pre-pay bills and require the consumer to "pay them back", ONE comes with no risk of overspending or missed payments as the consumer remains in charge of how much money is allocated to the Credit Builder pocket. 

With no interest charged and no fees, the ONE Credit Builder is a very appealing product. The ability to use your ONE accounts or external bank accounts to deposit money into your Credit Builder gives it great flexibility. 

By using the money you've already placed in your Credit Builder pocket to pay off your purchases, there's very little risk of missed payments and a harmful delinquency on your credit report. This is one advantage that ONE has over other credit builder products and secure cards.

Unfortunately, there's the huge caveat that the ONE Credit Builder currently isn't accepting new customers. However, you can find comparable products elsewhere. The Fizz Debit Card, which operates very similarly, is widely available. You can also earn rewards when you shop at certain businesses using the Fizz card.

ONE's Credit Builder tool is ideal for those who need to build credit quickly and easily with little to no risk. It is designed for consumers unable to access — or at risk of overspending while using — an unsecured line of credit. 

According to its website, ONE Credit Builder accounts are "automatically available to most ONE customers who are (re)building their credit." While an individual's credit history is considered for qualification, the specific credit requirements are not provided. 

To open an account, individuals must be aged 18 and older, a US citizen or resident, and willing to provide their Social Security number. Applying for a ONE account requires a soft credit inquiry.