Review of 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