BBVA Compass ClearPoints Credit Card Review

BBVA Compass ClearPoints Review

BBVA Compass ClearPoints Credit Card Review

The BBVA Compass ClearPoints Credit Card is a pretty basic points rewards credit card offered through BBVA Compass bank (a smaller bank America).

This bank is named for the fact that the banking institution is proudly showcasing its ability to be transparent with its costs and products in recognition of banking laws put in place in 2009.

Although not nearly as widely available as other credit cards, there are some things which could make this card very appealing to users. What should you know about the BBVA Compass ClearPoints credit card?

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Benefits of the BBVA Compass ClearPoints Credit Card

This credit card is a points rewards credit card whereby you earn points which can then be redeemed for a variety of goodies. It’s pretty simple: you earn 1 point/$1.00 spent. That’s all she wrote! While this card has nothing on the larger rewards style credit cards, it is very simple and fairly easy to get a hold of, making it a good starter card for people looking for a flexible rewards program. You can also get bonus points when you shop at certain partner stores. These points are earned with personal/business cards, charge cards and check and secured cards; furthermore, if you have a few people with these cards tied to your account, all of their points add up for you. So if you’re savvy, you can save up points quicker than you may think.

You can then redeem these points for a variety of things. This can mean everything from travel rewards like companion tickets, to mortgage rebates, credit on your account, gift cards, charitable donations and merchandise. Keep in mind that at a 1:1 ratio, buying things with points isn’t exactly valuable (a dual USB car charger costs you 2,500 points for example), but it is worthwhile to save up for something like cruise upgrades, hotel rooms and companion tickets as a supplement to your travel plans.

Otherwise however, this card has little else in the rewards and services department. It’s not bad if you’re just starting out with rewards cards, but more veteran credit card users will likely prefer something else to sink their teeth into.

Fees for Using the BBVA Compass ClearPoints Credit Card

There are a few more perks to be found here. There is no annual fee associated with this credit card and there is an introductory purchase and balance transfer APR of 0% for six months (0 or 3.99% on balance transfers depending on your credit worthiness). After that, the APR varies wildly between being very low to very high depending again on your creditworthiness and on the Prime Rate. Other rates are fairly standard for any credit card and there is a foreign transaction fee of 3% to mind.

While not the most thrilling card in the world, and certainly not one of the best rewards cards, the BBVA Compass does have the advantage of being simple to use, acceptable all over the country and wider world, and having plenty of things to redeem your points for. It does make a good stepping stone to other rewards cards if your credit rating isn’t as a high as it could be and it could be a good card to use for emergencies (if it gives you the low APR) or for a purchase that you could have paid off within the introductory period. If you’re looking for a no-frills, very basic rewards card, the BBVA Compass ClearPoints credit card may be just what you’re looking for, so apply today!

3.5 / 5 stars     

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