BBVA Rewards Card

Who is the BBVA Rewards Card for?

The BBVA rewards card is for people who want a simple rewards card that help them earn money back on all purchases. You earn 2% rewards on all purchases when you use this card. However, you must directly deposit $1,000 into a BBVA deposit account or your rewards rate will drop to 1.5%. It is important to consider whether you can deposit $1,000 monthly or not when deciding if this is the card for you. 

This, like other BBVA credit cards, offers $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 instantly while also getting a decent signup bonus to put towards your next big purchase. It is important to make sure you are spending enough within 90 days to get the signup bonus.

BBVA cardholders get access to security and online banking benefits 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 cards. If you are a BBVA bank member, this card may be for you. 

Signup Bonus

When you open a BBVA Rewards Credit Card and spend $1,500 within the first 90 days of account opening you will get $200 in account credit. This can be useful if you need to pay off any bills that have accumulated or you want to put the money towards your next big purchase. Cardholders should definitely aim to spend $1,500 in the first 90 days to be able to receive this great benefit.

Rewards

Cardholders earn unlimited 2% rewards on all purchases whenever they use this card. However, you must deposit $1,000 in monthly direct deposits to a BBVA deposit account in order to get the 2% rewards. If you do not make a direct deposit of that amount every month then the rewards rate drops to 1.5% until you start depositing again. Other BBVA rewards cards provide better rewards programs than this one, so if you can’t meet the monthly $1,000 quota, it may be worth considering other cards before you go to this one. 

Points earned can be accessed through BBVA’s Online Banking and expire three years after you get them. You can redeem them through online banking, calling the rewards center, or redeeming 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 sign a receipt do not qualify for the program. Although many purchases apply, you must keep track of your purchases to make sure that you are earning rewards on all of your purchases.

Security Benefits

As a cardholder, you get email alerts for payment notices, balances, and more. Since there are many fees associated with this card, having an email alert service helps eliminate the possibility of forgetting a payment and being charged for it. This is coupled with the multiple payment options to provide a system that caters to the customer. You can pay by mail, online banking, or in a branch. This ensures that you do not miss a payment and receive unnecessary charges. 

You also get to have BBVA’s award-winning online banking service where you can manage your credit cards and accounts from the convenience of your personal devices. You can access the rewards website directly through online banking to track points, review account details, and redeem points for account credit. The online banking service also helps you keep track of any unauthorized payments that may occur. 

With this card, you 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 crucial for keeping your information safe without any added costs. Also, the chip technology that comes with this card keeps your information safe whenever you are making a purchase. 

Rates and Fees

The APR for purchases varies between 11.24% and 29.24% based upon your creditworthiness. There is a 0% intro APR for 13 months for balance transfers made within 60 days of opening the account. We recommend that you use this period to transfer any debt you have on another credit card onto this one so you do not have to pay interest for 13 months. Also, if your credit score is higher, this card might be more beneficial because of the potential low rates. For cash advances, the APR varies between 22.24% to 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, be sure that you have a high credit score so you can get the lowest rates possible.

Both the cash advance and balance transfer fees are 4% with a $10 minimum. There is a 3% foreign transaction fee, so you must make sure to use this card sparingly when abroad so you do not incur any extra costs. You pay up to $27 if you were not charged for a late fee during any of the prior 6 billing periods, otherwise, the late fee is up to $37. This gives cardholders a reason to try and pay everything on their balance at one time so they can keep their fees down. There is also a returned fee of up to $20 which may deter you from bouncing payments. You need to keep track of all your purchases so you do not pay unnecessary fees.

No Annual Fee

This card offers many security features and general benefits with no annual fees associated. That means all the rewards you get by using this card will cost you nothing in return. This is for anyone on a budget that needs a rewards card. 

Conclusion

The BBVA rewards card is for anyone who needs a simple rewards card that comes with no annual cost. You get 2% rewards if you deposit $1,000 monthly into your BBVA account or 1.5% cash if you don’t. Although the rewards rate is not the highest, there are still many security benefits you get with the card. Overall, this card is decent but other BBVA cards might be better if you are looking for greater rewards rates.