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Regions Bank Signature Rewards Card – Does it Offer Enough?

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The Regions Bank Signature Rewards Card is a Visa card type and the issuer, of course is Regions Bank. It has two variants:

  • The Regions Bank Visa Signature Credit card
  • The Regions Bank Visa Signature Preferred credit card

Both cards are powered by Visa providing its holders the power of access worldwide. Combining it with the relationship rewards it boasts many benefits for its card holders.

What Does The Regions Bank Signature Rewards Card Have to Offer?

Annual Fee

The card has a $0 annual fee.

Annual Percentage Rate

There is an APR of a minimum and maximum of 11.99% to 19.99% for purchases made through the Regions Bank Signature Rewards Card.

There is no APR on balance transfer for the first 7 months and thereafter 11.99%.

The APR for cash advance is 24.99% which is variable based on the market prime rate.

For signature preferred the APR is 16.99%.

The introductory APR is subject to cancellation if the card holder makes a late payment.

Avoid paying interest

The due date to make the interest payment on purchases is 21 days after the billing cycle closes. No interest will be charged on the purchases you make if the entire balance is paid within the due date, each month. If interest is charged, the charge will be $1.5 minimum.

Rewards

Cardholders of the Regions Bank Signature Rewards Card can earn 1 point for each dollar spent in qualifying purchases with relationships rewards. The points earned can be credited to your checking account or redeemed for gift cards or merchandise.

When relationship rewards total at least $1000 within 90 days of account opening, qualifying purchases made with your regions bank signature rewards card will receive 12000 bonus points which can be redeemed for $100 cash or rewards.

Other Benefits

Users can access their card online and manage their finances with ease. Checking balance and making payments can never be too easy, but with the convenience of online access it does not remain a hard task.

It offers a credit limit which you can use for balance transfer to pay off other credit cards.

There is a $0 Liability Protection on the Regions Bank Signature Rewards Card, which means that for any unauthorized purchases made from your account you are not help accountable. This also goes for unauthorized online purchases. Regions Bank promises to credit your account equal to the amount of loss. You lost or stolen credit card will also be promptly replaced.

Receive Overdraft Protection and users can choose to apply for V.me to shop online and prevent displaying their full card number when making payment.

Checked and carry-on luggage is recovered if lost or stolen with the Lost Luggage Reimbursement. This is applicable when you purchase your common carrier ticket through your regions bank signature rewards card.

Purchase Security enables card members to avail replace repair or reimbursement of their eligible items of personal property. This feature is limited for (90) ninety days from date of purchase.

Card holders can avail special tickets to sport and entertainment events using the Visa Signature Concierge service. You can also be assisted in making travel booking or dinner reservations at the best places.

Other Fee and Penalties

Balance transfer: for balance transfer $10 or 4% of the amount of the transfer, whichever is greater is charged.

Cash advance: for cash advance, $10 or 4% of the amount of cash advance, whichever will be greater is charged.

Foreign transaction: for transactions made in US Dollars, 3% of the transaction amount. For signature Preferred card holders the fee is 1%.

Penalty fee: a late payment fee of up to $35 is applicable.

 

 

 

Difference between the Visa Signature and Visa signature Preferred Credit Card

The Regions Bank Visa Signature Preferred Credit Card is different than its variant in that it has an annual fee of $125 and offers 1.5% for each dollar spent in purchases as reward points. Apart from this, there is nothing more that this card has to offer that the Regions Bank Signature Rewards Card doesn’t.

Bottom Line

The Regions Bank Signature Rewards Card offers more or less the same benefits which some other cards on the market are offering. 1% cash back is too less when compared to some other cards which offer at least 2% and includes other categories also to earn cash back. The introductory 0% APR can also be beaten with other cards which are offering more than this. The Signature Preferred doesn’t seem to justify the annual fees as there aren’t added perks that could be availed from the card. The only impressive thing is the 1.5% cash back. This may be attractive to those who make a lot of purchases.

An Alternative…

For those of you looking to earn cash back can look towards the Chase Freedom Card or Blue Cash Preferred Card from American Express. Both the cards are a good option offering better terms.

Chase Freedom offers 5% cash back every quarter on $1500 spent in bonus categories like gas, restaurants and Amazon.com. On all other purchases card members are eligible to earn 1% cash back which will never expire. It has no annual fee and a 0% introductory APR for 15 months on both purchases and balance transfers. In the first three months of account opening if you spend $500 a bonus $100 can be availed.

Blue Cash Preferred Card from American Express offers a similar deal but for an annual fee of $75. Compared to the Regions Bank Signature Rewards Card, this is quite reasonable and far too less considering the cash back and other perks it offers. There is no APR for the first 15 months on purchases and balance transfer. There is a 6% cash back at US supermarkets, 3% cash back at gas stations, selected department stores and all other purchases are eligible for a 1% cash back. Cash back can be redeemed for gift cards or merchandise. Additional cards can also be added without a fee.

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