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.
|Product Name||BBVA Compass Rewards Card|
|APR (Annual Percentage Rate) for Purchases||13.49% to 31.49% variable|
|Introductory Purchase APR|
|Balance Transfer APR||13.49% to 31.49% variable|
|Intro Balance Transfer APR||0% for the first 13 months (then 13.49% to 31.49% variable)|
|Balance Transfer Fee||$10 or 4% of the transaction, whichever is greater|
|Cash Advance Rate||24.24% to 31.24% variable|
|Foreign Transaction Fee||3% of the transaction value|
|Cash Advance Fee||$10 or 4% of the cash advance amount, whichever is greater|
|Interest Free Period||Up to 25 days|
|Late Payment Fee||Up to $37|
|Late Payment Fee Conditions||Up to $27 if you were not charged a Late Fee during any of the prior six billing periods. Otherwise, up to $37|
|Returned Payment Fee||Up to $20|
|Minimum Age||18 years of age|
|Rewards||Earn unlimited % rewards on all purchases with $1,000 in monthly direct deposits to a BBVA Compass deposit account (1.5% without a monthly direct deposit)|
|Base Rewards||1.5x points|
The BBVA Compass 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.
Another no-annual-fee card
Chase Freedom Unlimited®
Annual fee: None.
If you’re approved for the BBVA Compass 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 13.49% to 31.49% 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 Compass 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.
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|
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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 13.49% variable. This is a below-average interest rate, which is around 16%.
What to watch out for
High maximum APR.
Your normal purchase and balance transfer APR could be as high as 31.49% 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
What do customers say about the BBVA Compass Rewards Card?
BBVA Compass does not have accreditation with the Better Business Bureau (BBB). The agency gives it a B-, in part because the bank has failed to respond to four complaints of its near 600 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 Compass Rewards Card is 18. You may apply if you live in one of these states:
- New Mexico
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.
How do I apply for the BBVA Compass Rewards Card?
- Visit the BBVA Compass site.
- Click Request a call back. The page will jump to a contact form. Enter your name, contact details and address. Then, click Submit.
- 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 Compass 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.
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 Compass 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.
If you don’t qualify for the 2% rewards rate, the BBVA Compass 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 Compass Rewards Card is right for you.
Frequently asked questions
Images: BBVA Compass