Newest BBVA Promotions, Bonuses and Offers: October 2020

BBVA Compass bank promotions

BBVA operates physical branches in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. It also offers online and mobile banking options nationwide.

Like many banks, BBVA runs regular promotions to attract new customers. A GOBankingRates survey revealed that many Americans don’t research available promotional offers and lose out on free cash that could boost their savings.

BBVA Promotions at a Glance

The current BBVA promotions include an incentive for savings accounts and offers for new credit card customers.

Best BBVA Promotions: October 2020
Account Cash Value of Bonus Expiration Date
BBVA Build My Savings Up to $50 N/A
Everyday Heroes credit cards $50 N/A
BBVA Select Credit Card $500 N/A

Current BBVA Promotions

You’ll need to follow a few steps to earn the current BBVA bonuses. The details for each available bonus can be found below.

Best Savings Account Promotions

savings account can help you set aside money for a new car or house, a vacation or emergencies. This BBVA savings account bonus gives you a little head start.

BBVA Build My Savings: Up To $50 Bonus

If you have trouble sticking to a savings plan, this bonus is for you. All you need to do is open a Build My Savings account and set up a six- or 12-month savings plan. BBVA will match 1% of your transfer amount up to $50 per year.

Here are the details:

  • Cash value: Up to $50
  • Expiration date: N/A
  • How to get it:
    1. Open a Build My Savings account and set up recurring automatic transfers from your checking account for $25 or more.
    2. Choose a six- or 12-month plan and meet the requirements.
      • BBVA will match 1% of your total transfer amount with a maximum of $25 for a six-month plan and $50 for a 12-month plan.
  • When you’ll get it: Within 30 calendar days of completing your savings plan. Note that when your plan period ends, the account will convert to a BBVA Savings account.
  • Terms and conditions: To receive the bonus, you must complete your savings plan. You can’t cancel or stop your transfers or reduce the number of transfers.
  • Monthly fee: $3 per paper statement fee every quarter; waived if you turn off paper statements through online banking
  • Promotion page: BBVA Build My Savings bonus offer

Best Credit Card Promotions

These BBVA credit card offers can give you access to valuable rewards and put more cash in your pocket. Read on for the details.

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Everyday Heroes Credit Cards: 5,000 Bonus Points ($50 Value)

BBVA recognizes the contributions of military personnel, law enforcement officers, firefighters, healthcare providers and teachers by offering interest rate discounts on several products. If you work in one of these professions, you can also apply for a BBVA Rewards or BBVA ClearPoints credit card and earn a points bonus.

Here’s what you need to know:

  • Cash value: $50
  • Minimum spend to qualify: $500
  • Expiration date: N/A
  • How to get it:
    1. Open an Everyday Heroes checking account.
    2. Apply for a BBVA Rewards or BBVA ClearPoints credit card.
      • After approval, make $500 in purchases within 30 days of opening the card. No BBVA coupon code is required.
  • When you’ll get it: Within 60 days of meeting the requirements
  • Terms and conditions: Balance transfers and purchases using a personal identification number don’t qualify.
  • Annual fee: N/A
  • Promotion page: Everyday Heroes credit card bonus offer

BBVA Select Credit Card: 50,000 Bonus Points ($500 Value)

BBVA’s top-tier credit card earns you up to quadruple points on purchases. Redeem the points for cash or free travel. You’ll also have access to premium Visa perks such as free concierge service and travel and entertainment benefits.

Here’s how to earn the bonus:

  • Cash value: $500
  • Availability: Only for residents of Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas
  • Minimum spend to qualify: $4,000
  • Expiration date: N/A
  • How to get it: You must apply and get approved for the card and then spend $4,000 within the next 90 days.
  • When you’ll get it: Not specified
  • Terms and conditions: Balance transfers, cash advances, credit card fees and purchases made using a PIN do not count toward the $4,000 minimum spending amount.
  • Annual fee: $99 (waived the first year)
  • Promotion page: BBVA Select Credit Card bonus offer

Past BBVA Promotions

Here’s a look at previous BBVA offers, which can give you an idea of what promotions BBVA has offered in the past. These offers required new-to-BBVA funds. New-to-BBVA funds are funds that aren’t currently deposited in BBVA but are in another bank, or even in a safe at home.

BBVA Online Checking and Easy Checking: Up To $250 Bonus

You could get a $200 bonus for opening a checking account and an additional $50 bonus for adding on a BBVA savings account. This offer was available online only for new customers.

Here’s more:

  • Cash value: Up to $250
  • Expiration date: Expired
  • How to get it: You had to open a checking account online by Aug. 21 using the BBVA coupon code SB2020 and make a qualifying deposit of $500 by Oct. 31. To receive the savings account bonus, you had to open an account online and have a balance of at least $1,000 by Oct. 31.

California Resident New Checking Account: Up To $250 Bonus

BBVA has three checking accounts available to California residents: Free Checking, Convenience Checking and Premium Checking. This bonus gave new checking account customers up to $250 for meeting certain requirements.

Here’s more:

  • Cash value: Up to $250
  • Expiration date: Expired
  • How to get it: Customers were instructed to visit a California branch to open a checking account and mention the offer, then make at least one $500 direct deposit within the first 60 days to earn a $200 bonus. If they then opened a BBVA consumer savings account and had an account balance of at least $100 as of Aug. 31, 2019, BBVA awarded another $50.

BBVA Rewards Credit Card: $100 Bonus

The BBVA Rewards Visa lets you earn an unlimited 1.5% cash-back reward on all purchases.

In addition to the $100 cash bonus, this offer included an additional 0.5% cash-back reward for those who received at least $1,000 in monthly direct deposits to a BBVA deposit account. They also got a 0% introductory annual percentage rate for 13 months on balance transfers initiated in the first 60 days after approval.

Here’s more:

  • Cash value: $100, received in the form of an account credit on the customer’s card
  • Expiration date: Expired
  • How to get it: Customers had to apply and get approved for the card and then spend $1,500 in the first 90 days after opening the card account.

How To Open a BBVA Account

You can open a BBVA checking account online or by visiting a local branch. Note that some branches have limited in-person service due to COVID-19. Check the bank’s website or call your local branch to make sure it is open for service.

Here’s what you’ll need to provide:

  • Contact information, including a home address, phone number and email address
  • Social Security number
  • Date of birth
  • Government-issued photo ID, such as a driver’s license, state ID or passport

You’ll also need the funds required to open an account. If you open the account online, you can use a debit card, credit card or current bank account to make the initial deposit.

Is BBVA the Right Bank for You?

BBVA might be worth switching to if you live in the bank’s service area and can use the products being promoted. Like many other banks, BBVA rotates available promotions. Check regularly to find the most current BBVA bonuses.

Information on promotions is accurate as of Sept. 20, 2020. Additional requirements may apply. Offers and terms are subject to change.

This content is not provided by BBVA. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by BBVA.

This article has been updated with additional reporting since its original publication.

About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.