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BBVA Rewards Card review

Last updated:  

This card is most useful if you qualify for the 2% rewards rate.

  • Get this card if you can qualify for card’s 2% rewards rate.
  • Pick something else if you want a signup bonus or tiered rewards.
  • Apply with a good to excellent credit score of 670 or higher.

$100

Welcome offer

Up to 2x

Points

$0

Annual fee

11.24% to 29.24%

Purchase APR (variable)

Details

Product NameBBVA Rewards Card
Card typeVisa
Annual fee$0
Purchase APR11.24% to 29.24% variable
Balance transfer APR0% intro for the first 13 months (then 11.24% to 29.24% variable)
Balance transfer fee$10 or 4% of the transaction, whichever is greater
Cash advance rate22.24% to 29.24% variable
Cash advance fee$10 or 4% 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 $37
Late payment fee conditionsUp to $27 if you were not charged a Late Fee during any of the prior six billing periods. Otherwise, up to $37
Returned payment feeUp to $20

Expert review

Kevin Joey Chen

Review by


Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.

Expert review

The BBVA Rewards Card offers a 1.5% rewards rate, which is standard among its closest competitors. However, if you have a BBVA consumer checking account, and make monthly automatic deposits of $1,000 or more, your rewards rate will jump to 2% — a rate that few other no-annual-fee cards can match.

How do I apply for the BBVA Rewards Card?

  1. Visit the BBVA Compass site.
  2. Click Request a call back. The page will jump to a contact form. Enter your name, contact details and address. Then, click Submit.
  3. Within a few business days, a BBVA Compass representative will call you. Before they do, prepare the necessary application information.

How long will it take to get my BBVA Rewards Card?

If you apply over the phone, you may get an immediate decision. BBVA Compass may need to review your application in more detail, in which case you may need to wait a few business days to a few weeks to hear back.

If you’re approved, it generally takes seven to 10 business days to receive your card and welcome materials in the mail.

The perks

  • Annual fee: None.

    If you’re approved for the BBVA Rewards Card, you can start using it and earning rewards without paying a fee.

  • Intro APR: 0% on balance transfers for 13 months following your account opening.

    After that, your balance transfer APR will be 11.24% to 29.24% variable. The intro APR applies only to transfers you make within the first 60 days.

    This is a decent intro APR period, but you’ll find cards that offer 0% intro APR on balance transfers for up to 15 months. Furthermore, you might wish the BBVA Rewards Card offered an intro APR on purchases.

  • Rewards: Up to 2% rewards on all purchases.

    Each month you make at least $1,000 in direct deposits into your BBVA Compass deposit account, you’ll earn 2% rewards on all purchases for the next month. Without a qualifying monthly direct deposit, you’ll earn 1.5% rewards on all purchases.

    Rewards are redeemed for account credit.

How much rewards can I earn with the BBVA Compass Rewards Card?
You’ll get a lot more out of this card if you make direct deposits of at least $1,000 monthly into your BBVA Compass deposit account. Here are the rewards you might earn depending on your spending and rewards rate.
Yearly spending Rewards value, 2% rate Rewards value, 1.5% rate
$5,000 $100 $75
$10,000 $200 $150
$15,000 $300 $225

You’ll also like …

  • Mobile app.

    The BBVA Compass mobile app lets you block your card easily if you lose it. You can also receive transaction alerts whenever your card is used.

  • Potentially low APR.

    You may receive a normal APR on purchases and balance transfers as low as 11.24% variable. This is a below-average interest rate, which is around 16%.

  • Going green.

    All of BBVA’s credit cards will be made of eco-friendly material by the end of 2021. BBVA is also committing to other waste-free efforts, like paperless account management.

What to watch out for

  • High maximum APR.

    Your normal purchase and balance transfer APR could be as high as 29.24% variable. If you receive this extremely high APR, consider paying off your balance monthly to avoid accruing too much interest.

  • Must live in an eligible state to apply.

    To apply for this card, you must live in Alabama, Arizona, California, Colorado, Florida, New Mexico or Texas.

Compare no-annual-fee cards

Name Product Annual fee Balance transfer APR Purchase APR Filter values
Blue Cash Everyday® Card from American Express
$0
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0% intro for the first 15 months (then 13.99% to 23.99% variable)
This everyday cashback card is ideal for Black Friday and holiday shopping with 20% back at Amazon.com up to $200 back in the first 6 months. Rates & fees
Chase Freedom Flex℠
$0
14.99% to 23.74% variable
0% intro for the first 15 months (then 14.99% to 23.74% variable)
Get up to 5% cashback in rotating and newly added everyday categories. The refreshed Freedom Flex card has lots of earning potential.
Citi® Diamond Preferred® Card
$0
0% intro for the first 18 months (then 14.74% to 24.74% variable)
0% intro for the first 18 months (then 14.74% to 24.74% variable)
An impressive 18 months intro APR on balance transfers and purchases, as well as no annual fee make this one of the top 0% APR cards available.
Chase Freedom Unlimited®
$0
14.99% to 23.74% variable
0% intro for the first 15 months (then 14.99% to 23.74% variable)
This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.
Petal® 2
$0
N/A
12.99% to 26.99% variable
Build your credit with rewards and no fees: Apply if you're new to credit or have a fair to good score of 600 or higher. See if you prequalify with no impact to your score.
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Compare up to 4 providers

BBVA Select℠ Credit Card

BBVA Rewards Card reviews and complaints

BBVA Compass does not have accreditation with the Better Business Bureau (BBB). As of October 2020, The agency gives it a A-, in part because the bank has failed to respond to four complaints of its near 800 customer complaints. It has answered many of these — however, the BBB reports many of them have not yet been resolved.

According to some customers, BBVA has unresponsive customer service, long wait times to speak to representatives and an underperforming website.

What should I know before I apply?

The minimum age to apply for the BBVA Rewards Card is 18. You may apply if you live in one of these states:

  • Alabama
  • Arizona
  • California
  • Colorado
  • Florida
  • New Mexico
  • Texas

Required information

Submit your contact information on the BBVA Compass website. Soon, a bank representative will call you with application details. Have the following information prepared:

  • Personal details like your address and contact information.
  • Financial details like your annual income and employment information.
  • Your Social Security number and mother’s maiden name.

What credit score do I need?

You’ll have increased odds of approval if you apply with a 670 to 850 credit score — what’s considered good to excellent.

I got the card. Now what?

  • Make payments online. On the BBVA Compass site, you can register for an online banking account. It’ll help you track your points and review your card balance. You can also set up automatic payments.
  • Avoid interest. After each billing cycle closes, you have a 25-day grace period to pay off your purchases. If you do, you won’t be charged interest.
  • Avoid fees. Foreign transactions, cash advances and balance transfers come with fees. For each returned payment, you’ll pay a fee of up to $20. For each late payment, you’ll pay a fee of up to $37.
  • Contact customer service. You’ll find the BBVA Compass customer service number on the back of your card. Alternatively, give a ring to 800-239-5175 or contact the bank by sending a message through its online Banking Account page.

How do I redeem rewards from the BBVA Rewards Card?

Redeem your points for account credit by visiting the BBVA Compass Points Rewards website or your Online Banking account. You can also redeem your points by calling 866-236-7960.

Bottom line

If you don’t qualify for the 2% rewards rate, the BBVA Rewards Card is similar to — or perhaps worse than — the best no-annual-fee options out there. If you have good to excellent credit you could qualify for a low APR.

Consider other no-annual-fee cards if you’re not sure the BBVA Rewards Card is right for you.

Frequently asked questions

Images: BBVA Compass

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