BB&T Spectrum Cash Rewards Secured Credit Card review
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%
Purchase APR (variable)
Recommended credit score
|Product Name||BB&T Spectrum Cash Rewards Secured Credit Card|
|Purchase APR||19.24% variable|
|Balance transfer APR||19.24% variable|
|Balance transfer fee||$10 or 3% of the transaction, whichever is greater|
|Cash advance rate||22.24% variable|
|Cash advance fee||$10 or 3% of the cash advance amount, whichever is greater|
|Foreign transaction fee||3% of the transaction value|
|Interest free period||Up to 25 days|
|Late payment fee||Up to $38|
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.
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.
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:
- Locate a bank branch or call 800-226-5228.
- Follow the instructions and provide all the required information.
- Submit your application.
- 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.
Compare credit cards
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.