BB&T Visa Platinum with Rewards Review

Review of BBT Visa Platinum

bbt visa platinum Summary - The BB&T Visa Platinum is a basic platinum credit card that allows you the option to enroll in BB&T's Travel Points reward program. Find out if this is the right card for you.


Travel Reward Program - If you enroll in BBT's reward program, you can earn one point for every dollar you spend on the card. Points can be redeemed for both travel and shopping merchandise (including gift certificates). The program will cost you an additional $29.00 in the program annual fee, or $19.00 if you have a checking account with BB&T.

The reward program is quite comprehensive but falls a little short in the airline tickets rewards. While 25,000 points is enough to get you a roundtrip ticket with the continental US, the number of points needed for other flights to Mexico, Hawaii, Europe and Asia is much more than other programs.

Fees - The fee and rate structure of the BB&T Visa Platinum is a bit complicated. It will depend on your credit profile, history and banking relationship with BB&T. You will be either be considered for Preferred Pricing or Standard Pricing. If you are considered for preferred pricing, you pay no annual fee and your apr is either prime rate plus 3.9% or 4.9%. If you are given "standard pricing status", then your apr is between prime rate plus 14.9% and 18.9%. If your apr is 18.15% on absolute basis, you will be charged an annual fee of $19.00. If your apr is 24.15%, an annual fee of $29.00 will be imposed.

Those who qualify for preferred pricing get an introductory 0% apr for 6 billing cycles for both purchases and balance transfers. The BB&T Visa Platinum uses the average daily balance method of calculating balances and has a 25 day grace period.

Verdict - I would not recommend this card because it has a complicated fee structure and enrolling in the reward program requires you to pay an annual fee. Hence, if your credit is not excellent, you may only qualify for "standard pricing" and if you want to enroll in the reward program, you will end up paying quite a bit in annual fees. In a competitive market place where there are so many reward credit cards with no annual fee, this card is not competitive at all. Furthermore, the reward program falls short in the area of air ticket rewards, where the number of points require for flights outside the US is much more than other programs.

If you are looking for a reward credit card, we would suggest you consider the Chase Flexible Rewards Platinum Visa® Card instead as it has no annual fee and much better travel rewards.

Negatives
  • Complicated fee structure
  • Reward program fee


  • BB&T Visa Platinum
    Reward Benefits
    Reward Points Earn 1 point for every dollar spent on purchases
    Reward Program Annual Fees $29.00
    Travel and Insurance Benefits
    $500,000 in travel insurance
    Rental car insurance
    24 hour roadside assistance
    Travel and emergency assistance
    Other Benefits
    Online account access
    24 hour cardholder service
    Extended warranty
    Purchase Protection
    Automatic payment from savings or checking accout
    Cost/Fees/Interest rates
    Introductory rate 0% APR for 6 billing cycles (both purchases and balance transfers)
    Annual Fees For Preferred Pricing, no annual fee
    For standard pricing, $19.00 if your variable apr is 18.15%, $29.00 if your variable apr is 24.15%.
    Purchase APR For Preferred Pricing, either Prime Rate plus 3.9% or 4.9%
    For standard pricing, Prime Rate plus 14.9% to 18.9%
    Balance Transfer APR For Preferred Pricing, either Prime Rate plus 3.9% or 4.9%
    For standard pricing, Prime Rate plus 14.9% to 18.9%
    Penalty/Default Rate APR Prime Rate plus 21.9%
    Min Finance Charge $0.50
    Grace Period 25 days
    Balance Calculation Method Average Daily Balance (including new purchases)
    Cash Advance Fee 3% min $5.00
    Balance Transfer Fee No balance transfer fee
    Over-the-credit-limit fee $25.00
    Late Payment fee $35.00