[Expired] BBVA Compass Rewards 2% Credit Card Review + $150 Signup Bonus, Requires Direct Deposit [AL, FL, TX, AZ, CO, CA, NM]

Update 2/10/20: Currently possible to get a sign up bonus of $150 in branch (ends 2/10 unfortunately). People might be going in branch for the $400 checking bonus anyway. Hat tip to Travel In Points

Another 2% card exists.

BBVA offers a Compass Rewards Visa credit card which comes with unlimited 2% rewards on all purchases. The caveat is that you need have a BBVA checking or savings account with direct deposit of $1,000+ per month to be eligible; without that you only get 1.5%.

Direct Link to offer

Two other things to keep in mind:

  • The card is only available in the following states: Alabama, Florida, Texas, Arizona, Colorado, California, and New Mexico.
  • Seems there is no online application option – call 1-800-COMPASS option 2 to apply.

Card has no annual fee and has a 3% foreign transaction fee. Rewards can be redeemed using BBVA’s real-time rewards system which rebates purchases. The card also comes currently with a signup bonus:

  • Get a $100 account credit when you open a new BBVA Compass Rewards Card between 3/1/2018 – 5/31/2018, and make $1,500 in purchases in the first 90 days.

I’m not sure if this card is the same as the 1.5% card that many of us have, changed over the old 5% BBVA card, or if this 2% card is something else. Regardless it has minimal use in the 2%+ world we live in.

Hat tip to r/churning

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Jennifer
Jennifer (@guest_1107823)
December 12, 2020 08:32

Does anyone use a bank transfer to satisfy the dir dep requirement for this card each month? If you do, which bank/credit union do you use? Thanks!

Steve Mz
Steve Mz (@guest_983120)
May 19, 2020 16:02

During May 2020, BBVA offering an upped $200 bonus on $1500 spend in 90 days on both the BBVA Rewards (the above 1.5% flat card, or 2.0% with checking direct deposit) and the BBVA ClearPoints (quarterly select a 3x and 2x category from choice of Maintenance, Dining, Gas, Grocery, Utilities, Travel, Business, Retail, Health Care, Entertainment, 1x everything else; 1cpp cash redemption at $25 min).
No online app, you have to call 844BBVAUSA. Also seemed to need to be in footprint of a branch, and in AL,FL,TX,AZ,CO,CA,NM only.

* $200 bonus: https://www.bbvausa.com/content/bbvacompass/en/personal/special/thankyou.html
* points program: https://www.bbvausa.com/credit-cards/rewards/bbva-points-program.html

Boozi
Boozi (@guest_905195)
February 11, 2020 00:52

I did the $400 checking today by stepping into a branch and I felt like I stepped into 1980s. Everything was soo out-dated, including building, carpet, style of baking etc

Cjrmets
Cjrmets (@guest_904859)
February 10, 2020 18:11

This would hamper my ability to churn new checking SUBs since my employer doesn’t do split direct deposit. Oh and I live in NY.

Will Ryan
Will Ryan (@guest_596245)
May 17, 2018 18:22

I was targeted and approved for mid $x,xxx limit (high for me) with a pretty crappy credit report at the moment (high util, inquiries, recent cards, low/mid 600 score etc).

I was able to apply online, perhaps you need the code from the mailer to do that.

seann
seann (@guest_618101)
July 17, 2018 12:48

will Ryan, how much was your starting limit? I also was approved but it wasnt instant.

Duke I.
Duke I. (@guest_596098)
May 17, 2018 13:20

BBVA gives large credit limits.

Andrew
Andrew (@guest_596038)
May 17, 2018 11:54

I got approved for a BBVA card and in not in one of their states from a mailer. The sign up was for the clear points card. Purely got it for a 3% travel or home improvement, the offer system it shares with with boa, suntrust, regions. And a free $100

Gareth
Gareth (@guest_595710)
May 16, 2018 21:30

I received a pre-approval in the mail for the 2% card and trashed it right away. I live in MA.

Bill
Bill (@guest_595733)
May 16, 2018 22:17

Having a checking account out of state has its advantages… seems like BBVA may be another one there.

Snorlax
Snorlax (@guest_596093)
May 17, 2018 13:15

What advantages are those?

Gareth
Gareth (@guest_596453)
May 17, 2018 22:40

Read Chuck’s post, man. Read the post.

Bill
Bill (@guest_616842)
July 14, 2018 05:14

I picked up a Huntington Voice MC while visiting Ohio, preapproved in branch. US Bank didn’t preapproved me in the branch, but has since sent (and approved) several offera.

David LawlietLawp
David LawlietLawp (@guest_595543)
May 16, 2018 16:38

PenFed Power Cash Visa Signature Card

• Sign up bonus: spend $1,500 within 90 days get $100 statement credit

• 1.5% cash back on everything

• 2% cash back on everything for all PenFed Honors Advantage members (this can be easily achieved by maintaining $500 in your checking account)

• Redemption starts at $5 or spend $250

• Cash back expires in 5 years

• APR 9.74% to 17.99%

• No annual fees

• No foreign transaction fees

Anyone can join this credit union

David Lawliet
David Lawliet (@guest_595628)
May 16, 2018 19:27

Yea I know, it’s just the best 2% flat rate credit card that can be used abroadwith foreign transaction fees! Gotta spread the gospel of credit union credit cards!! Such a rare trinket!!

Snorlax
Snorlax (@guest_596092)
May 17, 2018 13:14

Does PenFed do sign up bonuses on their checking accounts?

David Lawliet
David Lawliet (@guest_596094)
May 17, 2018 13:16

Not as of yet, but their travel credit card is the best:

PenFed Credit Union Pathfinder Rewards American Express Card

4x points (3.4% cash back) on all travel purchases for PenFed Honors Advantage Members (this can be easily achieved by maintaining $500 in your checking account)

3x Points (2.55% cash back) on all travel purchases for regular members

Travel includes: Commuter transportation, rail, taxi/Uber/Lyft, bus lines, cruise, air, travel agency, tolls miscellaneous (Transportation and Travel Arrangements), hotel, trailer park/campgrounds, car rental, tourist attractions.

$100 credit towards TSA PreCheck or Global Entry. This applies once every five years

$100 airline fee credit

Sign up bonus of 25,000 points after spending $2,500 or more within the first 90 days

0% introductory APR on balance transfers for 12 months. 3% balance transfer fee applies

NO ANNUAL FEES!!!

No foreign transaction fees

APR 11.99% to 17.99%

Anyone can join this credit union

Harry Nguyen
Harry Nguyen (@guest_904981)
February 10, 2020 20:29

I rather get the Amex biz cash card, its 2% and auto statement credit monthly. I don’t really travel internationally as much so it wouldn’t bother me too much.

swordsman
swordsman (@guest_595525)
May 16, 2018 16:04

The card may not the best option for anyone, but DP nonetheless regarding the states:
I received a mailer for this card two days ago at my MA address, with same offer details. Offer details at bottom of the link also refer to various states.
Looks like the card and sign-up offer are nationwide, and it’s just the “Find A Branch” part of their website that only applies to AL, FL, TX, AZ, CO, CA, NM?

Justin
Justin (@guest_595562)
May 16, 2018 17:22

I got an email with subject line “Get more Rewards with the New BBVA Compass Rewards Credit Card” – it has a link to the following, but I removed the reservation code from the URL: https://www.bbvacompass.com/special/crm/43923.html

If you login it’ll show you a direct link under targeted offers… for me it shows no less than 3 advertisements for it.

I was roughly 32+/24, and applied, and instant approved. 10k credit limit. FYI 32+ includes business cards, I’m too lazy to break those out…

This week I also received a physical mailer with a different “reservation code”. The url it gives is bbvacompass.com/go/rewardscard and just redirects to the url above, and still prompts for a reservation code.

Given that it’s a different code, and I was pre-approved I may try for a second one. Mailer expires June 30, 2018, so I’ll lump it in with my next application round, no rush for me I don’t think. If anyone happens to try for 2 before then I’d obviously love the DP, I don’t follow many DPs around smaller banks and getting a second duplicate card and how often that generally does/doesn’t work.

Other big thing to call out doc, it’s 0% APR for 13 months. So a 2% card to run up a balance on and let set for a year in a savings account helps offset the not so sexy relatively high min spend for just $100.

Justin
Justin (@guest_595571)
May 16, 2018 17:43

https://imgur.com/a/CukqkBd

I just realized the 3 links have the 2 Reservation Codes (one matches email and other is mailer). If I knew this I would have applied for both codes back to back last week. If you do decide to apply, it can’t hurt to do both…. and of course let me know if you get approved for the second one. 😉

TG
TG (@guest_595674)
May 16, 2018 20:35

Who did they pull?

swordsman
swordsman (@guest_595564)
May 16, 2018 17:23

https://www.BBVACompass.com/Go/GetRewards to apply online or (844) 869-9162 to apply by phone. The online link requires the reservation code from the mailerto proceed, so perhaps both these options are for targeted individuals only and it’s just that people can be targeted outside the states listed above.

Dubya
Dubya (@guest_904932)
February 10, 2020 19:37

…delete