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BB&T Spectrum Cash Rewards Secured Credit Card review

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Build your credit and earn cash back.

  • Get this card if you want a secured card to build your credit and earn cash back.
  • Pick something else if you don’t want to pay an annual fee.
  • Apply with a fair credit score for the best chances of approval.

Up to 3%

Cash back

$19

Annual fee

19.24%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameBB&T Spectrum Cash Rewards Secured Credit Card
Card typeVisa
Annual fee$19
Purchase APR19.24% variable
Balance transfer APR19.24% variable
Balance transfer fee$10 or 3% of the transaction, whichever is greater
Cash advance rate22.24% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $38

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The BB&T Spectrum Cash Rewards Secured Credit Card is a solid option if you’re looking to build your credit. That’s because you get to earn 3% cash back on gas and 2% cash back on groceries and utilities, and you can get a 10% bonus if you deposit your cash back in your BB&T checking or savings account.

On the downside, your 3% and 2% cash back are capped at $1,000 in combined purchases each month, after that, your rate reverts to 1% cash back. Also, you can’t apply for the card online, and you’ll pay a $19 annual fee. The benefits of earning rewards and building credit can outweigh the drawback of the annual fee, however.

Overall, if you’re trying to build credit, the BB&T Spectrum Cash Rewards Secured Credit Card is worth considering.

Card benefits

  • Cash back. Earn 3% cash back on gas and 2% cash back on groceries and utilities on up to $1,000 in combined purchases each month. After that, and on all other purchases, earn 1% back.
  • Cashback boost. Get an additional 10% cash back when you redeem your rewards into your BB&T checking or savings account. This turns your 3% and 2% cash back into 3.3% and 2.2%.
  • Build credit. BB&T reports your card activity to all three credit bureaus — Experian, Equifax and TransUnion. With responsible credit card use, you’ll build your credit in no time.
  • No penalty APR. If you miss a payment, you won’t accrue a penalty APR, which on similar cards can be up to 32%.

What to watch out for

  • Annual fee. Pay a $19 annual fee to own this card.
  • Foreign transaction fee. If you use this card abroad or online with a foreign merchant, you’ll accrue a fee — 3% the amount of your purchase.
  • Secured card. To use the card, you need to make a secured deposit first.

How to apply for the BB&T Spectrum Cash Rewards Secured Credit Card

Unfortunately, you can’t apply for this card online. Here’s how to apply for this card:

  1. Locate a bank branch or call 800-226-5228.
  2. Follow the instructions and provide all the required information.
  3. Submit your application.

Compare credit cards

Name Product Filter values Rewards Purchase APR Annual fee
Blue Cash Everyday® Card from American Express
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
0% intro for the first 15 months (then 13.99% to 23.99% variable)
$0
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
Chase Freedom Unlimited®
5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
0% intro for the first 15 months (then 14.99% to 23.74% variable)
$0
Earn a huge signup bonus for a no annual fee card with rewards of up to 5% cash back on popular everyday categories.
Citi® Diamond Preferred® Card
N/A
0% intro for the first 18 months (then 14.74% to 24.74% variable)
$0
Long 18 months intro APR periods on purchases and balance transfers. Plus Citi Entertainment℠ for deals on dining and going out.
Chase Sapphire Preferred® Card
5x points on Lyft, 2x points on travel and dining and 1x points on all other purchases
15.99% to 22.99% variable
$95
This popular travel card's signup bonus is worth up to $1,000. Get even more value out of your travel, dining, and Lyft rewards by transferring them to miles.
Chase Freedom Flex℠
5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases
0% intro for the first 15 months (then 14.99% to 23.74% variable)
$0
This no-annual-fee cashback card is one of the most valuable on the market. It boasts a huge signup bonus and up to 5% cashback in multiple purchase categories.
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Bottom line

The BB&T Spectrum Cash Rewards Secured Credit Card is an excellent option for anyone looking to build or rebuild their credit. For a $19 annual fee, you get access to a solid rewards program, a decent APR and a chance to build your credit.

But if you think another card could suit your financial situation better, compare other secured credit cards or other BB&T secured cards until you find the right one.

Frequently asked questions

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