Regions Life Visa Card Review

Who is the Regions Life Visa card for?

The Regions Life Visa card is mainly for individuals who are looking to take advantage of 0% APR on purchases and balance transfers. The introductory APR of 0% can be very beneficial for those in an unsteady financial situation. You can push other credit card debt or a variety of loans to this card and be able to pay no interest on outstanding balances for 15 months. Also, purchases can be broken up into several payments without having to pay any interest payments.

No interest payments on either balance transfers or purchases for 15 months is a great advantage when combined with a $0 annual fee. This card's $0 annual fee ensures that you'll fully benefit from it without spending a single extra penny.

0% Intro APR on Purchases and Balance Transfers

The Regions Life Visa card comes with an intro APR of 0% for both balance transfers and purchases for 15 months. Student loans to personal loans and a handful of other types of debt can be paid back without interest when using this card's intro balance transfer promotion. Further, this credit card's intro APR for purchases enables you to be able to buy items and goods that you've always been eyeing and just don't have the full cash upfront for. With this card offering 15 months for its intro period, card users will have great flexibility when making payments and potentially save on hundreds of dollars.

Those looking to benefit from the 0% intro APR for balance transfers should plan ahead of time of what debts they want to have transferred. This is because balance transfers need to be posted within 60 days of opening this card to take advantage of the intro period.

Another cautionary detail to keep in mind is that after the intro period of 15 months, any remaining balance will be subjected to regular purchase and balance transfer APRs. In this view, it's very important to attempt to pay off the balance before the end of the 15 months as regular APR can be as high as 21.99%.

Also, this great benefit is contingent on the fact that you make your monthly payments on time. Even if you're unable to fully pay in the monthly balance, it's wiser to pay the minimum balance than risk losing 0% APR. On top of losing the promotional 0% APR, you will incur a late payment APR which can be as great as 28.99% and a late fee of up to $39.

Cards that provide users with 0% intro balance transfer and purchase APR, usually require high credit ratings. With this noted, prospective cardholders should first check their credit rating before attempting to apply for this card. With every application, a hefty part of your credit score goes down and can take months to recover.

Protections

This card comes with Visa's Zero Liability Policy which ensures that you won't have to pay for fraudulent transactions that happen on your credit card. Any unauthorized activity with your card that happens either online or in person, won't hold you responsible. Additionally, your card would be instantly replaced if it is compromised and credit would be refunded for any prohibited activities that occur. To access this excellent protection, all you have to do is contact Regions immediately when you realize your card has been compromised.

The protection that this card offers goes beyond the Zero Liability Policy as this card's Regions LockIt feature allows you to manually block transactions. You can block specific actions on your card through the Regions mobile app or the Regions website. Quick and efficient blocking and unblocking features are available to stop certain transactions such as online, in-store, or ATM withdrawals. When you lose your card, you can use this feature to restrict any misuse. Even if you want to just limit your spending habits, you can use this feature to stop impulse purchases.

This card's purchase security allows you to enjoy coverage for up to 90 days on purchases made with this card. Purchases up to $500 and $50,000 per cardholder are valid under this program. A variety of scenarios that may harm your purchases are applicable, such as vandalism, fire damage, theft, riot, rain, and much more. You'll rest easy knowing your brand new iPad can be reimbursed if something goes wrong on your trip.

Benefits

Extended warranty coverage enables you to receive double the warranty on your purchases for up to one year. Eligible warranties that are three years or less are qualified to receive the additional one-year warranty provided by this card. For example, a warranty of three years turns into a total warranty of four years. It should be noted that this benefit is limited to no more than the original price of the purchased item minus shipping and handling. A generous amount of up to $10,000 per claim and $50,000 per cardholder is valid. 

Roadside dispatch is included in this card, which allows you to use a pay-per-use roadside assistance program. This program offers services such as tire changes, jump starts, fuel delivery, towing, and much more.

Knowing where to contact in times of need can be crucial when you're traveling and you’re unfamiliar with the environment. Luckily, this card comes with travel & emergency assistance services to help solve your issues when away from home. This service directs you to the best and most suitable provider for all your issues and the cost of using those services is all you have to pay. With a single phone call you can be referred for a variety of issues, such as requiring medical referral assistance, needing ticket replacement, and much more.

With the $0 foreign transaction fee that this card provides, cardmembers can enjoy inexpensive expenditures abroad. Having to deal with a foreign transaction fee can get overwhelming as you'll be constantly worried about going over your budget. With the Regions Life Visa card, however, you'll never have to think twice when spending outside of the United States.

The auto rental collision damage waiver compensates you for damages caused by theft or collision on qualifying rental cars. Damage to anything else besides the rental car is not covered under this waiver. However, only 15 consecutive days of the car rental are covered under this waiver if in the U.S and 31 day consecutive days if outside of the U.S. Qualifying rental periods are 15 consecutive days within the U.S and up to 31 consecutive days outside of the U.S.  

No Cash Back/Rewards Program

This credit card does not offer rewards or incentives for when this card is used for purchases. This card is oriented more towards its intro APR of 0% than it for rewarding purchases. Therefore, this is not the ideal credit card to be used for daily transactions as it doesn't provide any incentive to do so. Those looking to make money off of their shopping should seek other cards such as the Regions Life Rewards Visa card.

Conclusion

This card is entirely oriented towards its highlight feature: 0% intro APR on balance transfers and purchases. With no annual fee, this is a great tool for when payment schedules become tough to meet and you want to avoid interest. The 15 months allotted in the intro period, allows greater flexibility than many credit cards that offer 0% intro APR. This card however lacks in the variety of benefits it offers such as a rewards program. Those wanting to become holders of this card should only consider this card if they want to enjoy the 15 months of 0% intro APR as rewards cards can better facilitate day to day spending. In this view, this card is great for the occasion where you feel like you need to use a lifeline to give relief from interest payments but is not the best choice to make transactions from.