Newest BBVA Promotions, Bonuses and Offers: August 2020

The best BBVA promotions include great credit card offers.

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 found that many respondents don't investigate bank promotional offers, leaving free cash on the table that could boost their savings.

Read on to learn more about how you can take advantage of the BBVA promotions for August 2020:

Current BBVA Promotions

You'll need to follow a few steps to earn the BBVA bonuses. Keep reading for more details.

Best Checking Account Promotion

This BBVA checking account bonus offers free money for opening an account that you can use to pay your bills or splurge on something fun. You need to act quickly, though, as it expires Aug. 21. 

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

You can get a $200 bonus for opening a checking account and an additional $50 bonus for adding on a BBVA savings account. This offer is available online only for new customers. Here's more:

  • Cash value: Up to $250
  • Minimum deposit to qualify: $500 for the checking account; $1,000 for the savings account
  • Expiration date: Aug. 21
  • How to get it: Open a checking account online and make a qualifying deposit of $500 by Oct. 31. Use the coupon code SB2020. To receive the savings account bonus, open an account online and have a balance of at least $1,000 by Oct. 31.
  • When you'll get it: By Jan. 31, 2021
  • Terms and conditions: You must meet the requirements for the checking account bonus to receive the savings account bonus.
  • Monthly fees: $9, waived with a $500 monthly direct deposit or by having an average daily balance of $1,500 or more
  • Promotion page: BBVA Online Checking and Easy Checking bonus offer

Best Savings Account Promotion

A savings account can help you set aside money for a new car or house, 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-month or 12-month savings plan. BBVA will match 1% of your transfer amount.

Here are the details:

  • Cash value: Up to $50
  • Minimum deposit to qualify: $25
  • Expiration date: None
  • How to get it: Open a Build My Savings account and set up recurring automatic transfers from your checking account for $25 or more. Choose a six-month 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 successfully 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.

Everyday Heroes Credit Cards: $50 Bonus

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 cash bonus.

Here's what you need to know:

  • Cash value: $50
  • Minimum spend to qualify: $500
  • Expiration date: None
  • How to get it: Open an Everyday Heroes checking account, then 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: None
  • Promotion page: Everyday Heroes Credit Card bonus offer

BBVA Select Credit Card: $500 Value

BBVA's top-tier credit card earns you up to quadruple points on purchases, which you can redeem 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: None
  • 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 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.

California Resident New Checking Account: $250 Bonus

BBVA has three checking accounts available: Free Checking, Online 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 APR for 13 months on balance transfers initiated in the first 60 days of approval.

Here's more:

  • Cash value: $100, received in the form of an account credit on your 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.

BBVA ClearPoints Credit Card: $100 Bonus

The BBVA ClearPoints Visa lets you choose how you earn rewards points, with up to double or triple the amount in categories of your choice each quarter. You'll also get a 0% introductory annual percentage rate for 13 months on balance transfers made in the first 60 days of approval.

Here are the details:

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

How To Open a BBVA Account

Even without a BBVA business account bonus, it's worthwhile to open an account. You can open a BBVA checking account online or by visiting a local branch.

BBVA offers free checking, as well as Convenience Checking for frequent travelers and Premium Checking for those who want to earn interest.

You can open an account online or in person. Note that some branches, such as those in California, have limited in-person service due to COVID-19. Call 844-228-2872 to make an appointment at a local branch to open an account.

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're opening an account in person, you can use cash, a check, or a debit or credit card. To make an online transfer, you can use a debit card, credit card or your current bank account information, including the routing number and bank account number.

Should You Switch to BBVA?

BBVA might be worth switching to if you live in the bank's service area and can use the products being promoted. It's an especially good time to switch over if you're a military member, law enforcement officer, firefighter, healthcare provider or teacher because you can take advantage of a special offer.

The credit card bonuses require qualifying based on your credit, so if you've had issues with credit in the past, you might want to take some time to boost your credit score.

Information on promotions is accurate as of August 6, 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 Bowman

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.

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