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BBVA Compass ClearPoints Credit Card | More Than Just Low APRs?

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You get a smooth six months with a 0% APR with the BBVA Compass ClearPoints Credit Card. After that, your APR will be set somewhere between 9.24% and 23.24%. Of course that will depend on the merits of your credit history, and other factors. The APR assigned to your account will vary in accordance to the prime rate on which it is based. The APR for balance transfers also has an introductory offer. You get either 0% or 3.99%, based on your credit, for one year. Once again, after the year, your balance transfer APR will be set according to your purchase APR. And the APR for any cash advances you may take will be set between 22.24% and 27.24%.

I can tell you right away that the APRs for the BBVA Compass ClearPoints Credit Card are more attractive than the majority of cards that I research. There are always a lot of similarities between which passive benefits a card offers. Likewise, there’s a lot of similarities between competing “rewards programs”. The only appreciable difference between most credit cards is the financial terms that are attached to it; the APRs and fees. So, the APRs for this card aren’t bad at all. Unless you’re comparing this card to an elite card like the Business Centurion from AmEx, this card stacks up well. When considering credit cards and interest charges in general, always remember that, if you pay your entire balance due each billing cycle, you will never incur any interest charges. And that’s definitely the way to go.

Speaking of fees, the BBVA Compass ClearPoints Credit Card falls in place with most cards. Here’s the breakdown:

BBVA Compass ClearPoints Credit Card Transaction Fees

  • Balance transfers cost the greater of $10 and 4% of the transaction amount.
  • Foreign transactions cost 3% of the US-dollar amount of each transaction.
  • Cash advances cost the same as balance transfers: $10 or 4%.
  • Returned payments will be charged a $25 fee.
  • Late payments will cost $35 as a penalty fee.

So like I said: pretty average as far as transaction fees are concerned. But what about the rewards program for the BBVA Compass ClearPoints Credit Card? Well, it’s called the CompassPoints® rewards program and it’s real simple. You get 1 point for each dollar you spend, as long as you are spending on eligible products and/or services. BBVA says this card offers “one of the most flexible and easy-to-use rewards programs available”.

The website is fairly unspecific about the rewards program for the . They just keep saying how flexible and simple it is. But I can’t seem to determine exactly what a point is worth. I can only find where it says that points can be conveniently redeemed for “accounts credits, retail gift cards, exciting travel options and name brand merchandise”. It also says you can earn bonus points at participating retailers, but again, it doesn’t say who, how many or much of anything else. Apparently that information is disclosed when you are approved and receive your card in the mail.

The BBVA acts like it’s some big deal that all cardholders are automatically enrolled into the  BBVA Compass ClearPoints rewards program. They are proud to state that they will not even charge you to get enrolled. Then you are free to spend, spend, spend with your BBVA Compass ClearPoints Credit Card and earn their company millions in profits. In return, they will give back just barely enough to make cardholders feel marginally appreciated in attempts to retain their loyalty. You see, the vast majority of these rewards programs are jokes. You might get a 10% or even a 15% discount off select purchases from time to time, but that’s about as good as it gets. How very generous of them!

So if the APRs are fairly good, the fees are so-so and the rewards program, like almost all of them, rather sucks, is there anything that stands out about this card? Or any card for that matter? The answer is yes. There are actually 2 things to judge a credit card by:

  1. Unbiased reviews of actual cardholders;
  2. The passive benefits associated with card;

Customer service for the BBVA Compass ClearPoints Credit Card:

My research uncovered that the majority of cardholders of the BBVA Compass ClearPoints Credit Card think that it’s just OK. For instance, on one popular credit card review site, there were 94 3-star (out of 5) ratings out of a total of 131 reviews submitted. It’s a little odd because, most of the time, you find that credit card reviews are either overwhelmingly positive or underwhelmingly negative. Not this one though. Nope, the cardholders just think it’s OK. Hmm.

Automatic benefits of the BBVA Compass ClearPoints Credit Card:

So that leaves the benefits associated with the BBVA Compass ClearPoints Credit Card. You might be surprised to find out that they are rather average. There’s a 0-Liability coverage, some basic travel benefits and features that protect against identity theft. In my opinion, because this card is quite difficult to be approved for, its passive benefits are rather weak. There just isn’t a whole lot they’re offering. To see all the benefits and their details, please visit the BBVA website for the card.

Overall, the BBVA Compass ClearPoints Credit Card is a card that best serves those with superior credit histories. And that is totally not surprising because that’s just what all credit card issuing companies do: cater to those who already have all the credit they need. For the rest of us, it’s just a so-so credit card. The most stand-out feature about this card is the possibility of getting a very low 9.24% APR. However, unless your credit history is powerfully spotless, you probably won’t have to worry about that. Oh, and by the way, all BBVA credit cards are available only to residents of Texas, New Mexico, Colorado, California, Alabama, Florida and Arizona. That’s strange.

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