Two Ways To Earn Rewards With BB&T Spectrum Cards
BB&T Spectrum Reward cards are the two most popular options offered from BB&T. These two cards both provide great reward benefits but there are many differences between the two choices. One of the Spectrum cards is a Cash Back Rewards Card. The Second Spectrum Card is a Premium Travel Rewards Card. Here we will take an in depth look at both cards to help you decide which may be best for you.
The BB&T Spectrum Cash Rewards Credit Card
- 3% Gas, 2% Grocery and Utilities and 1% cash back on all other purchases
- Customers earn 10% cash back bonus when redeeming in to their BB&T Account
- Redeem for more than cash including giftcards and statement credit
- 0% Introductory APR for the first 12 months
- No annual fee
Earning Cash Back With Your Card
There are several aspects of this card that make it quite valuable as an everyday credit card. Purchases like gas and groceries earn bonus cash back – 3% and 2% back respectively. One of the best cash back features of this credit card is the 2% back on utility payments. This is a very rare feature for cash back credit cards and will really add up once you set your Spectrum Card as your payment method for you utility bills.
An additional feature of this card is the ability to earn an extra 10% back on all of your redemptions. When redeeming your cash back in to your BB&T checking or savings account you will get this additional bonus. In addition to cash back, cardholders can redeem their rewards for giftcards and merchandise options.
Special Introductory Interest Rate
One of the features of this card that makes it very versatile is the 0% interest for new purchases and balance transfers. One big complaint consumers have when looking for a balance transfer card is that they often lack competitive reward programs. The Spectrum Card offers a great balance transfer offer. Customers who transfer outstanding credit card balances to their new card will not have to pay interest for the first 12 months. Furthermore, all new purchases on your card will also enjoy this 12 month interest free offer.
One downside to this feature is that balance transfer will incur a 3% transfer fee. While this is a low relatively low transfer fee it can add up depending on how much you require to transfer to your new card.
The BB&T Spectrum Travel Rewards Credit Card
- 2x miles for travel purchases and 1x miles for all other purchases
- 20,000 bonus miles for new customers (spending requirements)
- $85 statement credit for TSA PreCheck or Global Entry
- Annual travel credit of $50 for airline incidental fees
- No foreign transaction fees when using your card overseas
- Waived annual fee for the first year then $89 per year
Earning Miles With Your Card
This card provides the ability to earn unlimited miles with every purchase you make. Every dollar spent on your card will be worth 1 reward mile. Additionally, each dollar spent for travel (airline purchases, hotel spending, and car rentals) will earn double miles.
The card also comes with a new customer sign up offer. When you open a new card you will be able to earn an additional 20,000 bonus miles. Every 10,000 miles is valued at $100 making with a $200 offer. To complete the offer you will need to spend $2,000 on your account within the first 90 days after opening your card.
Annual Travel Credits/Additional Travel Credits
One of the biggest draws of this credit card is the annual travel credit cardholders enjoy. Each year you will receive $50 in statement credit for airline incidental fees. This would include services such as checking a bag or inflight purchases. No action is required. The credit will be applied up to the $50 annual limit automatically.
Cardholders will also get the ability to zoom past the airline lines with the TSA PreCheck or Global Entry statement credit. When you apply for these services and pay with your card you will receive an $85 statement credit. This credit is available every four years.
Credit Card Fees
This main drawback for this card is the $89 annual fee. The fee is waived for your first year as a new cardholder. However, because this card provides a $50 travel credit, many cardholders will be able to effectively reduce their fee to $39 per year. If you also take advantage of the $85 statement credit for your airline pre-check you will significantly reduce the cost of your card.
This card also provides no fees when using your card abroad. Additional fees include 3% balance transfer fees and cash advance fees.
How Do These Cards Stack Up Against The Competition?
Both of these cards are decent reward cards but there are definitely better options out there. Cards like the Citi Double Cash Card provides 2% cash back for all purchases and is widely considered one of the best cash back credit cards. Additionally, premium travel cards like the Chase Sapphire and Capital One Venture provide much better sign up offers and overall better benefits with a similar annual fee.
The Spectrum Reward Cards will be best suited for individuals who already do business with BB&T and are looking to keep their finances all managed with one bank. Both offer competitive rewards but for consumers who are looking for the best of the best, these cards are not the answer.
Additional Credit Card Guide Resources. Find The Best Card For You!
- The Best Credit Cards For 2019 – The Complete Guide
- Top Luxury Credit Cards – High Annual Fee, Premium Benefits
- Ultimate Travel Credit Card Guide
Final Thoughts – Which Card Provides The Best Rewards?
Deciding between the two cards is a very simple decision. Are you a frequent traveler? If so, the Spectrum Travel Rewards card is the correct choice. With a big sign up bonus and annual travel credits you will get much more benefit from this choice. If you find you are no longer able to take advantage of the travel credits then you may want to consider contacting BB&T to see if you can change your account to a no annual fee option. If you are not a traveler and just looking for a good rewards card then the Spectrum Cash Rewards is the option for you.