BBVA ClearPoints Rewards Credit Card

Who is the BBVA ClearPoints Rewards Card for?

The BBVA ClearPoints Rewards Card is for BBVA bank users who want a customizable rewards program to save money on purchases. Cardholders can select one category to earn 2x points in and one category to earn 3x points. Also, they get 1x points on all other purchases, so you are always earning points. This ensures that you are getting more points on the categories you spend the most on. The points you earn are unlimited and easy to redeem as long as your account stays in good standing. 

Now, BBVA bank members will earn $200 in account credit when you open a new card and make $1,500 in purchases within the first 90 days of account opening. You can start earning rewards immediately and get a decent signup bonus that can help you buy your next big-ticket item. If you know you are going to spend that much on this card in the next three months then the signup bonus is helpful.

BBVA cardholders also get access to security and online banking features that make your account safe and easy to access. BBVA has an award-winning online banking app that can help you keep track of your accounts and your card. If you are a BBVA bank customer and looking for a rewards card, this could be for you.

Signup Bonus

If you open a BBVA ClearPoints credit card and spend $1,500 within the first 90 days of account opening, you will get $200 in account credit. This could be useful in paying essential bills or buying big-ticket items that you have been waiting to purchase. $1,500 can be a lot to spend, so make sure to meet that target in three months to get the full benefits of the card. 

Rewards

Cardholders have the unique feature of customizing their rewards program with this card. Initially, you earn 1x point on all purchases. In addition, you can earn 2x and 3x points in purchase categories you select with BBVA Build Your Own Rewards. Categories include maintenance, dining, gas, groceries, utilities, travel, business, retail, healthcare, and entertainment. Every quarter, you can pick which category will earn you 2x points and which will earn you 3x points. This is beneficial to the cardholder as each quarter, you can determine where you spent the money and pick that category to earn the most rewards back. If you saw yourself eating out a lot during a quarter, then it would be best to select the dining category for 3x rewards. This is perfect if your spending habits change over time but you still want to earn as much reward as possible. 

Points earned can be accessed through the online banking app and only expire three years after you get them. You can redeem points through online banking, call the rewards center, or redeem rewards in real time when you set-up mobile banking transaction alerts. However, payments of loans, credit cards, gift cards, and card transactions in which you use a pin number rather than signing a receipt do not qualify for the rewards program. Although many purchases qualify, it is important to just make sure that you are earning rewards whenever you spend. 

Security and Benefits

As a BBVA ClearPoints cardholder, you are automatically enrolled to earn rewards points at no additional charge. Although this may seem trivial, it is always nice to know that you are not being charged anything for earning rewards points. These rewards are also readily accessible to you at all times and can be redeemed to purchase almost anything. BBVA has a unique system that caters to each individual no matter their circumstance.

As a cardholder you get email alerts for payment notices, balances, and more. Since there are late fees associated with this card, having an email alert service prevents you from forgetting when a payment is and consequently getting charges. This is coupled with their multiple payment options to provide the most user-friendly payment process. You can pay by mail, online banking, or in a branch whatever is most convenient for you. This ensures that you do not miss any payments and accumulate unnecessary fees. 

You also get access to BBVA’s award-winning online banking service where you can conveniently manage your credit cards and accounts from your phone. You can access the rewards website via online banking to track points, review account details, and redeem points for account credit. The online banking service also helps you pick which categories you want to earn rewards in

Finally, you also get Visa’s Zero Liability security benefits. This policy ensures that if there are any fraudulent charges to your account, you will not be responsible for any of them. This is important for keeping your information safe and taking the worry out of owning a credit card. The chip technology also helps keep your information safe whenever you are making a purchase. 

Rates and Fees

The introductory APR for both purchases and balance transfers is 0% for 13 months. This is perfect if you have to transfer any credit card debt to this card or pay off big-ticket purchases. We recommend that you do that within the first 13 months so you can pay as little as possible. After that, the APR for both purchases and balance transfers is a variable rate between 11.24% and 29.24% based on your creditworthiness. If you have a higher credit score, this card might benefit you because your APR would be significantly lower. For cash advances, the APR varies between 22.24% and 29.24%. One benefit of this card is that there is no penalty APR for late payments so you are not subject to a rise in rates if you miss a payment. If you are considering this card, make sure you have a good credit score so it does not cost you as much to make payments. 

Both the cash advance and balance transfer fees are 4% with a $10 minimum. There is a 3% foreign transaction fee, so it is important to use this card sparingly while on vacation so you don’t rack up the costs. You pay up to $27 if you were not charged a late fee during any of the prior six billing periods, otherwise, it is up to $37. This incentivizes you to not make any late payments and keep potential fees down. There is also a returned payment fee of up to $20. You must keep track of all your purchases and payments so that you do not pay any extra fees when possible.

No Annual Fee

Although this card offers many services and a customizable rewards system, there is no annual fee associated with this card. That means all the rewards you receive while using this card will cost you nothing in return. This is perfect for anyone who needs a flexible rewards card.

Conclusion

The BBVA ClearPoints Rewards Credit Card is ideal for someone who needs a flexible rewards card that can be used for anything. You get 1x points on all purchases, but what is even more enticing is the customizable plan. You can earn 2x and 3x points on two categories you pick from BBVA’s selection. Also, the card comes with an intro APR period which can help cardholders pay off any purchases they’ve previously made. Although there are many fees associated with this card, there is no annual fee and you can start earning rewards instantly. Overall, this is a decent rewards card with a customizable rewards plan.