Posted by Chuck on May 16, 2018
Credit Cards

Published on May 16th, 2018 | by Chuck


BBVA Compass Rewards 2% Credit Card Review + $100 Signup Bonus, Requires Direct Deposit [AL, FL, TX, AZ, CO, CA, NM]

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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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?

David LawlietLawp
David LawlietLawp

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

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

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

What advantages are those?

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

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.

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

BBVA gives large credit limits.

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.

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

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