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BB&T Spectrum Cash Rewards credit card

Credit needed
Good
APR
13.24% and 22.244%
Annual Fee
$0

Card Summary

The BB&T Spectrum Rewards credit card offers cash back and is a rewards card. You get 3% cashback on gasoline, 2% for utilities and groceries, and 1% on any other purchase.

The bonus categories can earn 2% or 3% cashback earnings for the first 1,000 combined purchases per month. After that, 1% is available.

Redeem rewards to BB&T savings or checking accounts and you can get 10% cashback. For the first twelve months, cardholders will be eligible for a 0% APR discount on balance transfers and purchases. The variable rate is between 13.24% to 22.24%.

The Best Features Intuitive APR: For the first twelve months, cardholders will receive a zero introductory rate on balance transfers and purchases.
Purchases and balance transfers will be subject to a variable rate of interest, which can range from 13.24% to 22.24% after the initial APR ends.

Cashback rewards: The BB&T Spectrum cash Rewards credit card offers a 3% cashback on gasoline, 2% for utilities and groceries, and 1% on any other purchase. The bonus categories can earn 2% or 3% cashback earnings for the first 1,000 combined monthly purchases (1% thereafter). Redeem rewards to BB&T savings or checking accounts and you can get 10% cash back.

Redeem your rewards for travel benefits, merchandise, gift cards, and cash back.

Drawbacks:

Sign-up Bonus: The BB&T Spectrum Rewards credit card doesn't offer a sign up bonus.
Fees for credit cards: The annual fee to BB&T Spectrum cash Rewards card card is $0.
Foreign transactions are charged a fee at 3% Transfers of balances are subject to a minimum of 3% ($10).

Card Summary - Cons

Rates and fees

Issuer Name
Branch Banking and Trust Company
Penalty APR
None
Credit Needed
Good
Balance Transfer Fee
Minimum of 10% from each advance
Annual Fee
$0
Cash Advance Fee
Transactions greater than $10 are subject to a minimum of 3% and $10
APR
13.24% and 22.244%
Foreign Transaction Fee
3% is added to the U.S. Dollar amount.

Highlights

You can get 3% back on gasoline, 2% back on utility bills and groceries and 1% back on any other qualified purchases.

Redeem rewards to your BB&T savings or checking account and receive 10% cash back.

Flexible rewards that you can redeem for cash back or statement credit as well as gift cards, and many other benefits.

There is no annual charge.

BB&T Spectrum Cash Rewards credit card benefits Cardholders who have the BB&T BB&T Broadband Cash Rewards card receive extra benefits, at no additional cost.

Notable benefits are:

Access to your credit scores monthly for free.

No fraud liability for fraudulent or unauthorized purchases.

Comparative Analysis with Other Cards

BB&T Spectrum Rewards credit card vs Discover it chrome:

Reward: BB&T Spectrum cash Rewards cardholders earn 3% cashback on gasoline, 2% on utility bills and groceries, and 1% for all other purchases. The bonus categories can earn 2% or 3% cashback earnings for the first 1,000 combined purchases per month. After that, 1% is available. Redeem rewards to BB&T savings or checking accounts and you can get 10% cashback.

Each quarter, Discover it chrome cardholders get 2% cashback on purchases up to $1,000 at gas stations or restaurants. Purchases made using the Discover it Chrome card earn an unlimited amount of 1% cashback.

Sign up bonus: The BB&T Spectrum cash rewards credit card does not offer a sign-up bonus. All cash rewards you receive at the end the first year as a Discover it Chrome card holder are automatically matched by the Discover it chrome card.

Benefits: The BB&T Spectrum cash Rewards credit card offers zero liability for fraud as well as free access to your monthly credit scores.
You can access your FICO scores every month with the Discover it Chrome.

Chase Freedom Flex vs. BB&T Spectrum Rewards credit card

Annual Fee: The BB&T Spectrum Rewards credit card has an annual fee $0. Chase Freedom Flex charges an annual fee $0.

Reward: The BB&T Spectrum cash Rewards credit card gives you 3% cashback on gasoline, 2% for utilities and groceries, and 1% on any other purchase. The bonus categories can earn 2% or 3% cashback earnings for the first 1,000 combined monthly purchases (1% thereafter).

Redeem rewards to BB&T savings or checking accounts and you can get 10% cash back. There are no limits on the number of rewards that can be earned over time. Users may use them to redeem gift cards, merchandise or cash back.

Chase Freedom Flex cardholders get 5% cashback on purchases up to $1500 combined in bonus categories every quarter they activate. Chase Ultimate Rewards(r) offers 5%, Chase travel purchases through Chase, 5%, and 3% for dining and drugstores. All other purchases are 1%.

Sign up bonus: The BB&T Spectrum Rewards credit card does not offer a sign up bonus. Chase Freedom Flex cardholders will be eligible for a $200 cashback bonus if they spend $500 within the first three months of account opening. You can also earn 5% cashback on groceries (not Target, Walmart), and up to $12,000 in your first year.

Benefits: The BB&T Spectrum Rewards credit card offers zero liability for fraud as well as free access to your monthly credit scores. Chase Freedom Flex provides extended warranty coverage and zero liability protection. It also offers purchase protection.

Conclusion

Note: Credit Card summary is for informational purposes only and is not an endorsement of the product. Products and services described are offered by third parties and not Bright Money or its partner banks. Bright Money strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider, or specific product’s site and the information has not been reviewed or provided by the issuer of the product before publication.

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