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BB&T Spectrum Rewards Cards Review

BB&T Spectrum Rewards Cards Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Nov 06, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’re looking for a new credit card with lower interest rates, perks, and no annual fee, you should check out what your local community banks have on offer.

BB&T is a community bank headquartered in North Carolina, with locations scattered across the U.S., and offers a wide range of financial services including an array of rewards, business, secured and low-interest credit cards. For this review, we’re going to focus on BB&T’s consumer rewards cards, the BB&T Spectrum Travel Rewards Credit Card and the BB&T Spectrum Cash Rewards Credit Card. These two cards offer travel and cashback rewards for cardholders as well as some noteworthy perks, such as statement credits for eligible travel expenses and introductory interest-free financing.

Know that these cards are only available to consumers who live within BB&T’s service areas:  Alabama, Washington D.C., Florida, Georgia, Indiana, Kentucky, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia.

If that includes you, then read on for a comparison of the BB&T Spectrum Travel Rewards Credit Card and the BB&T Spectrum Cash Rewards Credit Card, in addition to alternative cards to consider. However, if you don’t live in a BB&T service area, compare other cashback and rewards cards.

BB&T Spectrum Travel Rewards Credit Card vs. BB&T Spectrum Cash Rewards Credit Card

The BB&T Spectrum Travel Rewards Credit Card is best suited for consumers looking for a travel centric card. Rewards you earn are tailored around common travel expenses — earn 2x miles on air, hotel, and car rentals, 1x miles on all other eligible purchases. Plus, there’s no foreign transaction fee, so you can avoid the 3% fee the BB&T Spectrum Cash Rewards Credit Card charges purchases made abroad. This card also comes with a fantastic perk — miles are worth 75% more in value when redeemed for hotel stays. That’s a great way to maximize the value of your rewards.

The BB&T Spectrum Cash Rewards Credit Card is a good option for consumers who prefer to earn cash back on common everyday purchases — Earn 3% cash back on gas, 2% cash back on utilities and groceries, and 1% cash back on all other eligible purchases. Monthly spending amount over $1,000 in the 3% and 2% bonus combined categories earns a flat cashback rate of 1%. The combined monthly spending limit of $1,000 on gas, utilities, and groceries purchases is reasonable compared to other gas rewards credit cards and grocery rewards credit cards that may set a quarterly or yearly maximum on the amount of spending that qualifies for the higher cashback rate. If you want to take advantage of intro 0% APR financing, the BB&T Spectrum Cash Rewards Credit Card has an intro on purchases and balance transfers (after, APR). The BB&T Spectrum Travel Rewards Credit Card doesn’t offer introductory 0% APR financing.

Here are the main features of each card:

  BB&T Spectrum Travel Rewards Credit Card BB&T Spectrum Cash Rewards Credit Card
Annual fee $89, waived first year $0
Regular purchase APR 15.24% - 24.24% variable 15.24% - 24.24% variable
Intro purchase APR N/A 0% for 12 months
Intro balance transfer APR N/A 0% for 12 months
Rewards earn 2x miles on air, hotel, and car rentals, 1x miles on all other eligible purchases Earn 3% cash back on gas, 2% cash back on utilities and groceries, and 1% cash back on all other eligible purchases. Monthly spending amount over $1,000 in the 3% and 2% bonus combined categories earns a flat cashback rate of 1%.
New cardmember offer earn 20,000 bonus miles when you spend $2,000 in the first 90 days from account opening None
Foreign transaction fee None 3%

Additional BB&T Spectrum Rewards Cards’ benefits

BB&T Spectrum Travel Rewards Credit Card

  • Get an $85 statement credit per account every four years for TSA Precheck or Global Entry
  • Receive a statement credit of up to $50 each calendar year on qualifying airline incidental transactions such as checked bag fees and in-flight purchases
  • Miles are worth 75% more in value when redeemed for hotel stays
  • earn 20,000 bonus miles when you spend $2,000 in the first 90 days from account opening

BB&T Spectrum Cash Rewards Credit Card

  • Get 10% bonus cash when you redeem rewards into your BB&T checking or savings account

Alternatives

If you want a wide range of cardmember benefits and a cashback program that benefits frequent U.S. supermarket shoppers more than the BB&T Spectrum Cash Rewards Credit Card, consider the Blue Cash Preferred® Card from American Express.

  • Earn up to $350 in statement credits. Terms Apply.

  • Earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply.

  • 0% on purchases for 12 months from the date of account opening, then 13.99%-23.99% Variable

Highlights
  • Earn 20% back on Amazon.com purchases on the Card within the first 6 months of Card Membership, up to $200 back.
  • Plus, earn $150 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership. You will receive cash back in the form of statement credits.
  • $0 intro annual fee for the first year, then $95.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Preferred® Card from American Express

More Info

This offer and/or promotion may have since changed, expired, or is no longer available.

The Blue Cash Preferred® Card from American Express offers a fantastic rewards program for U.S. supermarkets: 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply. Cash back can be redeemed as a statement credit. Compared to the BB&T Spectrum Cash Rewards Credit Card’s cashback program (Earn 3% cash back on gas, 2% cash back on utilities and groceries, and 1% cash back on all other eligible purchases. Monthly spending amount over $1,000 in the 3% and 2% bonus combined categories earns a flat cashback rate of 1%.), the Blue Cash Preferred® Card from American Express will earn the same amount of cash back on gas purchases, but a higher cashback rate on U.S. supermarket spending.

However, unlike the BB&T Spectrum Cash Rewards Credit Card’s $0 annual fee, the Blue Cash Preferred® Card from American Express has a $0 introductory annual fee for the first year, then $95 annual fee. But, if you primarily spend at U.S. supermarkets, U.S. gas stations, streaming services, and transit, it can be worthwhile. This card also comes perks, including car rental loss and damage insurance. And, if you need to finance new purchases, take advantage of the intro 0% on purchases for 12 months on purchases (after 13.99%-23.99% Variable APR).

To see rates & fees for Blue Cash Preferred® Card from American Express please click here.

Bottom line

The BB&T Spectrum Travel Rewards Credit Card and the BB&T Spectrum Cash Rewards Credit Card are decent credit cards for travel and gas purchases, but you’ll need to live in select states to be able to apply. If you live in one of those 15 states or Washington D.C., you’re in luck — otherwise you should consider credit cards from major banks that don’t restrict applicants to certain locations.


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December 19, 2018