Reviews Regions Visa Signature credit card review
Regions Visa Signature credit card review

Regions Visa Signature credit card review

Published: December 2, 2016
Ratings Policy
Travel Rating:
1.8 rating
1.8 rating
1.8 / 5
Rewards Value 0.3
Annual Percentage Rate 4.1
Rewards Flexibility 3.3
Features 2.0

In a nutshell:

Not only does the Regions Visa Signature credit card lack the appeal of a good rewards program, but you can’t even sign up online if you are not an existing Regions customer.

Rewards Rate
1:1 general purchases

Sign-up Bonus
None

Annual Fee
None

Average Yearly Rewards Value ($1,325 monthly spend)
$159

APR
13.24-20.24%

Rewards Redemption
Pros

  • No blackout dates
  • You can use points for travel, events, gift cards, merchandise, and cash back directly to a checking account

Cons

  • Points expire after 36 months
  • You can only redeem points for travel through the Regions loyalty program
  • Poor values for most redemptions
  • Must collect a large number of points to redeem for travel rewards

Other Notable Features: Visa Signature benefits, concierge service, lost luggage reimbursement, fraud coverage, purchase security, overdraft protection

As a rewards card, the Regions Visa Signature credit card takes the meaning of “no frills” to the next level. It comes with no sign-up bonus and a weak rewards program with a low rewards rate of one point on the dollar – a rate far surpassed by many if not the most rewards credit card programs out there. The much touted “Relationship Rewards Program” doesn’t offer any sizeable benefits for banking with Regions Bank.

Poor earning scheme

The Regions Visa Signature card comes with the most basic of rewards schemes: You get one point per dollar for all purchases. There are many no-fee travel cards on the market offering bonus categories that enable you to rack up extra rewards points, and even a few cards that come with a higher general rewards rate. If you are willing to dole out some money for an annual fee, you will find premium rewards cards that offer general rewards rates as high as 2 points per dollar.

Low value on rewards redemption

Like most rewards programs, redeeming points for merchandise yields the worst possible value. Travel rewards are a mixed bag – some airfares offer a higher value than others, with a low average value of 1 cent per point. Getting cash back at 1 cent per point is the most straightforward reward you can get out of the program.

Regions relationship rewards

If you are a current Regions banking customer and don’t mind signing up for additional services with Regions Bank, you can get some extra points. For instance, you get 250 points for signing up for mobile banking and another 250 points for online banking. You’ll also get 500 points for opening a savings or money market account, as well as ongoing bonuses and points for various banking activities. Although the points are on the small side, the incremental rewards may be worth it, even with the $10 annual fee that regions charges for participating in the program.

Short zero percent introductory offer

If you’re considering the Regions Visa Signature credit card for the introductory zero percent APR, be careful: The introductory period lasts only seven months, which is far shorter than offers from many other competitors. The 4 percent balance transfer fee is also higher than the typical 3 percent.

Reasons to get it:

  • You prefer a card with no annual fee and are fine a low rewards rate.
  • You prefer a card with Visa Signature benefits.
  • You have a relationship with Regions Bank.

How to use it:

  • If you are transferring your high-interest balances to the Regions Visa Signature credit card, make sure you can pay them off within the seven-month introductory period to avoid the regular interest rate. In addition, Regions charges a higher-than-usual, 4 percent balance transfer fee.
  • Redeem for cash back and avoid other redemption options.

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