The BBVA Compass ClearPoints credit card is a relatively new credit card on the market that is presented as solution to the constantly changing rates and terms that many credit card companies have employed in the past and that led to the Credit Card Act of 2009.
The BBVA Compass ClearPoints(TM) credit card offers pricing terms that do not change. The credit card rate is a variable rate like most all credit cards on the market presently but the margin remains the same.
The ClearPoints credit card form BBVA Compass Bank offers an introductory credit card rate of 1.99% on purchases that lasts for the six months after the opening of a new credit card. There is also an introductory rate on credit card balance transfers that is between 3.99% and 5.99% based on the credit history of the credit card applicant.
After the introductory the period, the credit card APR will have a rate based on the Prime Rate plus a margin that is dependent on the credit history of the credit card applicant. Credit card APRs will vary between 7.24% and 20.24%. Though the rate is variable, the margin will not change for the life of the card.
There is no default pricing or rates on the credit card and the card comes with no annual fee. The credit card also comes with free credit bureau monitoring and free identity theft coverage. Credit card accounts with BBVA Compass come with online account access and available E-mail alerts for credit card monthly payment notices, balance updates and more.
Credit card users can earn reward points with the CompassPoints rewards program
The CompassPoints is a no cost, no fee rewards program offered by the bank for both credit card customers and check card customers.
Rewards are earned on qualified net purchases. BBVA Compass Visa or Visa Business credit cardholders earn 1 point for every $1.00 in purchases. Reward points can be redeemed for airline tickets, merchandise, gift cards, hotel certificates, and other travel options such as vacations and cruises. There is no maximum number of points an account holder can accumulate.
As part of a press release that covered the new card and its features on Dec 17, 2009 the senior executive vice president and head of Retail Banking, Shelaghmichael Brown stated that “They asked for increased transparency and simplicity in credit offerings and with the BBVA Compass ClearPoints(TM) credit card, we’re happy to give them not only that, but also a promise that with this card, we will never change their pricing terms or charge them unexpected fees.”
BBVA Compass credit card products are offered and issued by BBVA Compass, a subsidiary of Compass Bancshares, Inc. BBVA Compass is the 15th largest U.S. commercial bank. BBVA Compass operates 748 bank branches including 401 branches in Texas, 92 bank branches in Alabama, 66 branches in California, 77 locations in Arizona, 45 in Florida, 36 in Colorado and 22 bank branch locations in New Mexico.
Along with credit cards, BBVA offers its customers a full range of financial services, ranging from commercial and wholesale banking and wealth management to retail banking services that includes consumer loans, mortgages, bank CDs, savings accounts, money market accounts, checking accounts and more.
Tags: BBVA Compass Bank, BBVA Compass credit card, credit card, credit card APR, credit card balance, credit card offers, credit card rate, credit history, new credit card
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