Trying to build your credit can be challenging when you are dealing with a limited budget. There are some budget-friendly cards you can apply for through like the BB&T Bank credit card.
This card is a low-interest rate credit card. It also has a lot of features and benefits that offer a nice platform to help.
In this article, we will take a look at everything that you need to know about this very budget-friendly credit option. The best place to start is with the features and benefits.
Features
This card is partnered with Visa and offers no annual fees as well as an introductory offer of 0% APR for both purchases and balance transfers for the first year. (see more on this in the fees and interest section).
The card allows you to set your card controls and security. You can customize card control features like the following.
- Turn off your card automatically and request a new card
- Set up geographic zones to monitor fraud
- Manage spending limits by transaction type
Security protection can also be enhanced with this card. You can add security protection through the following.
- Adding fraud alerts that can be sent via email, phone, or texting
- Sign up for zero liability
- Monitor your credit score
Benefits
This card and its features bring to the table several benefits. The BB&T Bank credit card allows its cardholder to get 3% cashback on gas and 2% back on groceries and utilities as well as 1% on all other qualifying purchases.
The card also allows you to earn 10% bonus cash when you redeem the rewards. You can use these rewards on things like gift cards, a statement credit, and much more.
How to Apply
When you meet the appropriate requirements (see the section below), you will need to collect all the standard documents required for financial concerns. This includes income statements, contact information, employment history, and SSN.
Once those are pulled together, you can begin the application process. This can be done in a branch, online, or over the phone.
You will need to fill out the application and sign some waivers that allow the bank to pull your credit score. When the application is done, and the reports pulled, a bank financial officer will go over everything and let you know within a few days if you are approved or not.
Who is Eligible?
In order to be eligible to apply and get approved for this card, you have to meet the following requirements.
- Be at least 18 years of age
- Have a decent credit score of at least 670
- Be employed
- Have an account with BB&T Bank
Fees and Interest
The card starts with 0% APR for both purchases and balance transfers, but that is just for the first year. After that time is up, the card will revert to an APR between 13.24% to 22.24%. This will be determined by the applicant’s credit score and history.
There will be a fee for balance transfers on top of the APR. This comes to be $10 or 3% of the transaction, whatever number is the largest.
For cash advances, there is a 22.24% variable interest as well as a $10 or 3% fee. When using this card internationally, there will be a 3% fee.
There is also up to a 25-day interest-free period on any purchase. When dealing with paying off the bill, if you are late, you will be fined a charge of up to $38.
Bank Contact Info
If you are looking to contact the bank there are a couple of different ways you can do this.
Phone: 1-800-226-5228
In-Person: Use the branch locator on the sire to find the branch closest to you.
Online: Sign-in and send a message through their online banking system
Twitter: @BBT
Summary
This card is a budget-friendly credit card option that offers no annual fees. It has limited features but a rewards program that offers up to 3% cashback dependent on the purchase.
This card is good to be used for everyday expenditures and is looking for a way to earn bonus points and cashback.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
