Suntrust Prime Rewards Card Review

Who is the Suntrust Prime Rewards card for?

The Suntrust Prime Rewards card is a great addition for those wanting to get the most out of their purchases as well as receive common credit card benefits. With 1% cash back on all eligible purchases, you can use this card anywhere you shop. A great number of rewards are available for redemption, they can be anything from clothing to travel tickets. This card offers many benefits and protections that credit cards are known to offer but goes above and beyond with its unique partnerships and coverages.

This rewards card comes with a welcome bonus and lengthy intro APR. You only need to spend $500 in the first 3 months to receive $100. This fantastic sign-up bonus guarantees you’ll instantly be rewarded for being a cardholder. The 3 years intro APR on balance transfers of 3.25% is perfect for reducing payments on debts such as home and student loans. 

With no annual fee, this card provides an extensive list of gains that is well worth applying for. Whether you’re looking to only take advantage of the 3 years intro APR or just want the welcome bonus, you can rest assured knowing this card is capable enough to be your daily driver with its rewards program. 

If you’re an existing Suntrust Bank account holder, you will receive even more benefits out of this card’s rewards program. Depending on your account type, a loyalty cash bonus is given on the number of rewards earned. This excellent attribute further enhances your experience of being a Suntrust Prime Rewards cardholder. 

Welcome Bonus

The Suntrust Prime Rewards card offers $100 statement credit when you spend $500 on net qualifying purchases within the first 3 months after account opening. It will take 1-2 months for the credit to appear on your billing statement. This generous welcome bonus can be easily achieved by going about buying common goods like groceries or essentials.

3 Year Intro APR on Balance Transfers

This card has a lengthy 3 years intro APR of 3.25% on balance transfers. To qualify for this promotion, cardholders need to make transfers in the first 60 days of account opening. No balance transfer fee is charged if you take advantage of this intro period.

While the intro APR isn't 0%, the 3 years intro period is one of the longest compared to cards like it. If your existing debts are charging you higher interest than what this card is offering, using this promotion would be the best option. You could save thousands of dollars by not paying high-interest. Furthermore, 3 years with such a low rate allows you to be flexible in your payment amounts and schedule.

Cardholders should avoid using this intro APR if they currently have a fixed interest rate that is marginally higher than what this card is offering. The intro APR on balance transfers is variable, meaning it can fluctuate at any time. While there is a chance the intro rate may drop lower, there is also the chance it might extend higher. Therefore, risk-averse individuals should not seek to act on this promotion.

Rewards Rates and Bonuses

With the Suntrust Prime Rewards card, you will earn 1% cash back on eligible purchases. Unlike other cards, your rewards are updated on a daily basis so you can enjoy the fruits of your labor instantly. Furthermore, your cash rewards have no expiration date, allowing you to save up for big prizes.

You can earn additional cash back from Suntrust Deals, a personalized rewards program. With Suntrust Deals, you'll be rewarded extra for making purchases at hundreds of participating retailers like Staples, Airbnb, Michaels, Walgreens, and tons more. As a Suntrust cardholder, you're already enrolled in this program. You only have to activate your favorite deals to be able to take advantage of this feature.

You can redeem your rewards for gift cards, merchandise, travel, and experiences. For example, you can redeem for a ton of different items ranging from electronics to beauty. Also, experience tours and attractions, vacation packages, flights, and cruises when you use your points for traveling. If the rewards catalog that Suntrust offers is not to your liking, you can redeem your rewards in U.S dollars with a minimum of $5 cash back.

Additionally, you can redeem your rewards as a deposit into your bank account or as a statement credit. Interestingly, if you choose to redeem your rewards by deposit into a Suntrust bank or money market account, you will receive a loyalty cash bonus on the redeemed rewards. For example, a 10% loyalty cash bonus on $100 in base cash rewards would earn an additional $10, totaling $110 in cash rewards earnings. According to the type of Suntrust bank account that you have, the rate of loyalty cash bonus can vary from 10% - 50%.

Cardholders who redeem cash rewards through a deposit into a Suntrust checking, savings or money market account will receive a 10% loyalty cash bonus. Card users with a Suntrust Advantage Checking, Signature Checking, or Exclusive Checking account and holding balance total between $25,000 and $100,000 will earn a 25% loyalty cash bonus. 50% loyalty cash bonus is given if balances total greater than $100,000 in the mentioned accounts. Suntrust Premier Banking Program or Private Wealth Management clients will receive a 50% Loyalty Cash Bonus. Prospective cardmembers should highly consider obtaining a Suntrust bank account to take advantage of the loyalty bonuses.

Benefits

No foreign transaction fee is charged when you use this card abroad. This can be really handy as fees can chip away at the true value of your money. When away from home, having no foreign transaction fee allows you to shop without worry.

Mastercard global service is included with this card. With this feature, you get 24-hour assistance with a lost or stolen card. Also, you can receive an emergency card replacement or emergency cash advance. This service even allows you to find ATMs near you.

You can be up to date on your credit score as being a Suntrust cardholder means you will receive your FICO Score. Your score will be updated every month and can be seen in your online banking account. Your score is also accompanied with crucial insights such as what's affecting your score. With this great ability to monitor your credit score and learn from it, you will be on the path to a stronger credit score.

The Suntrust Prime Rewards card has partnerships with many retailers through which cardholders can enjoy deals. You can use this card to be able to buy drinks or groceries through Postmates and receive $5 off every purchase of $25 or more. Similarly, you receive a complimentary ShopRunner membership with free 2-day shipping and free return shipping at over 140 online retailers, plus exclusive offers on thousands of brands. Additionally, you will receive 10% off Onefinestay bookings where you can choose from thousands of rental homes worldwide.

This card has great benefits that allow you to have a smooth trip at no additional cost. MasterTrip Travel AssistancePrepare equips you with free information on travel requirements, including documentation, immunizations, and currency exchange rates. Get help locating lost or stolen travel materials, including luggage, and assistance with emergency cash transfers. Mastercard Travel & Lifestyle Services provides professional travel services for planning your trip such as finding the lowest hotel rates.

An interesting feature of this card is its cell phone coverage. This unique benefit comes at no cost when you pay your cell phone bill with your eligible card and receive up to $1,000 in coverage per year (limited to 2 claims/year, up to $800 per claim) should your phone get stolen or need repairs.

Protections

This card offers a variety of security features to ensure that your card isn't used without your authorization. The zero liability feature of this card ensures that you will only pay for purchases that have been authorized by you. You will not be held responsible for purchases that are unauthorized. Also, you can lock your credit card instantly if you misplace it or want to put a hold on spending. The Purchase Assurance of this card covers most items purchased with your card if the item is damaged or stolen within 90 days of the purchase date.

Mastercard ID Theft Protection detects and helps quickly resolve identity theft events, 24/7, at no extra cost. You will receive suspicious activity alerts every time this feature notices an unusual incident.

When you rent a vehicle with this card, you will receive secondary collision coverage. This feature comes at no additional cost, making rental rides less stressful.

When away from home, having access to crucial resources is necessary. Master RoadAssist Roadside Service arranges emergency services such as jump-starts, tire change, towing, and gas delivery. Also, Travel Services Medical AssistanceAccess a global referral network of doctors, dentists, hospitals, and pharmacies, as well as help with prescription refills with local pharmacists. Also, MasterLegal Referral Service provides legal referrals.

Conclusion

This is an excellent card for those that want multiple benefits of owning a credit card. A rewards program with flexible redemption methods, promotional APR on balance transfers, no foreign transaction fee, a welcome bonus, and many more features add to the versatility of this card. No matter where you shop, how you shop, or where you go, the Suntrust Prime Rewards card ensures that you’re always worry-free and are awarded. No annual fee on this card means no expense for having all these features in your pocket, making this card worth the try.