BBVA Compass offers 5 credit cards, all of which are interesting but none of which are particularly exciting when compared to other cards on the market. Our overview / review of each card is below, including thoughts on other cards to which you might compare these:
- The BBVA Compass ClearPoints Credit Card is probably considered the “flagship” card of the group, meaning it is the one that fits the widest range of customers. It offers a fairly standard points program, giving you 1 point per dollar charged to the card. Points can be redeemed toward gift cards, account credit, merchandise, etc. There is no annual fee, and the interest rate ranges anywhere from a nice low 9.49% rate to a not-so-nice 23.49% depending on your credit history. If you are looking for a rewards credit card, we’d suggest you compare this card to others in our Cash Rebate Credit Cards and Rewards Credit Cards sections.
- The BBVA Compass Visa Signature Card is very similar to the card above, except it has a few more perks like no pre-set spending limit and personal concierge service. Otherwise, same interest rates, same rewards, no annual fee. Again, compare this card to others in our Cash Rebate Credit Cards and Rewards Credit Cards sections.
- BBVA Compass is the “official bank of the NBA,” and it is the issuer of the NBA American Express Card, a rewards card that may interest basketball fans, especially if you loyal to a particular team. You can choose the NBA team logo you want for the front of your card, and you earn points good toward NBA merchandise and NBA experiences, as well as other potential rewards. You’ll earn 3 points per dollar on NBA tickets and NBA Store.com purchases, 2 points per dollar on gas station and supermarket purchases, and 1 point per dollar everywhere else. No annual fee.
- The BBVA Compass Visa Select comes with an annual fee of $125 (waived for the first year). For that hefty fee, you have the potential to get greater rewards. You get 3 points per dollar in a spending category of your choice, 2 points per dollar in 2 other spending categories of your choice, and 1 point per dollar on everything else. If you choose your categories carefully and really spend a lot, this card could potentially be worth the annual fee, but for most people it is not. Note that you will receive 20,000 bonus points (equal to roughly $200 in value) if you use the card for at least $2000 in purchases within 90 days of getting it.
- The Optimizer Credit Card is a very different animal — it is a secured credit card aimed at people with poor credit or those with no credit history at all. You must make a security deposit in order to get the card, and you will then get a credit line equal to the size of your deposit. You pay the card off each month like any other, and you get your deposit back when you give up the card; the deposit only exists as a safety in case you don’t make your payments. Assuming you do pay on time each month, you will begin to build a good credit history and eventually you will likely be able to get an unsecured credit card that does not require a deposit. There is a $40 annual fee that is not part of the deposit. This card is pretty much in line with many other secured credit cards on the market.