I've gotten a few mailers for this card so I'm curious. My understanding is that this is a "cashback" card but it mentions "points." What does this mean? Is a point = 1%? What is the redemption? Anything else I should know?
It's a 3-2-1 cashback card and it worth is 1cpp. You choose the 3% and 2% from select categories every quarter and cashback is in the form of statement credit, purchase erasure, or you can transfer your points.
@KLEXH25 wrote:I've gotten a few mailers for this card so I'm curious. My understanding is that this is a "cashback" card but it mentions "points." What does this mean? Is a point = 1%? What is the redemption? Anything else I should know?
I have the card, it's solid.
One point = 1¢, so it's basically the same as a cash-back card.
Rewards are redeemed as a statement credit in $25 increments, and they also have a 'Real Time Rewards' feature that allows you to use points to 'erase' a purchase of any amount (even less than $25).
Edit: @issac2x beat me to it! 
@issac2x wrote:It's a 3-2-1 cashback card and it worth is 1cpp. You choose the 3% and 2% from select categories every quarter and cashback is in the form of statement credit, purchase erasure, or you can transfer your points.
Now I'm lost lol. Purchase erasure? How is that decided or different from a statement credit. And transfer my points to what?
The purchase eraser isn’t really much different than statement except you can target a specific purchase to to use cash back to pay. Let’s say you say to yourself “When I save up $100 in cash back, I’m gonna buy myself a $100 pair of sunglasses.” When you reach that $100 in cashback, you can buy the glasses, and pull up that purchase and pay for it with the cashback you earned. It’s a great card though. The the 2X and 3X and categories are very broad!
They regularly offer 4X offers on groceries, restaurants, etc. We earned 6X points on restaurants for all of January. https://ficoforums.myfico.com/t5/Credit-Cards/BBVA-4X-Points-at-Restaurants-in-January-Offer/td-p/58...
They regularly offer 4X offers on groceries, restaurants, etc. We earned 6X points on restaurants for all of January. https://ficoforums.myfico.com/t5/Credit-Cards/BBVA-4X-Points-at-Restaurants-in-January-Offer/td-p/58...
@KLEXH25 wrote:
@issac2x wrote:It's a 3-2-1 cashback card and it worth is 1cpp. You choose the 3% and 2% from select categories every quarter and cashback is in the form of statement credit, purchase erasure, or you can transfer your points.
Now I'm lost lol. Purchase erasure? How is that decided or different from a statement credit. And transfer my points to what?
Purchase erasure is using points to offset a purchase. For example you bought a $5 item purchase erasure would basically cancel it out; all without reaching the $25 minimum for statement credit.
Transfer points is if you have another credit card with BBVA and would like to transfer the earned points from one account to the other.
Edit: @JNA1 beat me to it.
Issac2x is correct about using it as way to redeem lower than the $25 required amount. I forgot about that. That’s a great feature for lower spend customers.
@issac2x wrote:
@KLEXH25 wrote:
@issac2x wrote:It's a 3-2-1 cashback card and it worth is 1cpp. You choose the 3% and 2% from select categories every quarter and cashback is in the form of statement credit, purchase erasure, or you can transfer your points.
Now I'm lost lol. Purchase erasure? How is that decided or different from a statement credit. And transfer my points to what?
Purchase erasure is using points to offset a purchase. For example you bought a $5 item purchase erasure would basically cancel it out; all without reaching the $25 minimum for statement credit.
Transfer points is if you have another credit card with BBVA and would like to transfer the earned points from one account to the other.
Edit: @JNA1 beat me to it.
@issac2x wrote:
@KLEXH25 wrote:
@issac2x wrote:It's a 3-2-1 cashback card and it worth is 1cpp. You choose the 3% and 2% from select categories every quarter and cashback is in the form of statement credit, purchase erasure, or you can transfer your points.
Now I'm lost lol. Purchase erasure? How is that decided or different from a statement credit. And transfer my points to what?
Purchase erasure is using points to offset a purchase. For example you bought a $5 item purchase erasure would basically cancel it out; all without reaching the $25 minimum for statement credit.
Transfer points is if you have another credit card with BBVA and would like to transfer the earned points from one account to the other.
Edit: @JNA1 beat me to it.
So I take it there is a limit to how many "erasures" you can do per statement? Also, does it erase any point earnings for that purchase as well?
@JNA1 wrote:
The purchase eraser isn’t really much different than statement except you can target a specific purchase to to use cash back to pay. Let’s say you say to yourself “When I save up $100 in cash back, I’m gonna buy myself a $100 pair of sunglasses.” When you reach that $100 in cashback, you can buy the glasses, and pull up that purchase and pay for it with the cashback you earned. It’s a great card though. The the 2X and 3X and categories are very broad!
They regularly offer 4X offers on groceries, restaurants, etc. We earned 6X points on restaurants for all of January. https://ficoforums.myfico.com/t5/Credit-Cards/BBVA-4X-Points-at-Restaurants-in-January-Offer/td-p/58...
That's awesome! But if you don't know what the bonuses will be, and you've already chosen your categories, it's sort of like a lottery then? I have most categories covered with my other cards, but it'd definitely be nice to earn a little more once in a while. I was curious about the Utilities category and what would be covered. Any categories that cover cell phones and/or cable bills?