Details of Pros

No Annual Fee. BBVA ClearPoints Credit Card has no annual fee. That's great news for frugal cardholders who don't spend heavily enough to offset any recurring charge. Given this card's low earning rate, it would take a considerable amount of spending to balance out even a modest fee.

Earn Up to 3 Points Per $1 Spent. This card can earn up to 3 points per $1 spent in the category of your choice. If you travel, dine out, or invest in home improvement projects regularly, you'll be especially well-served by the 3x tier.

Nice Introductory APR Promotion. This card charges no interest on purchases and balance transfers for 13 months after sign-up. If you need to finance a large purchase right out of the gate or transfer an existing high-interest balance, you could do worse than this card – though you'll need to make that balance transfer within 60 days of opening your account.

Solid Sign-up Bonus. If you can swing $1,500 in spending within 3 months of opening your account, you'll get a $100 statement credit. That's a nice boost to your earnings, especially if you'd spend that kind of money ($500 per month) in the normal course.

Points Are Versatile. You can redeem your points for pretty much anything – account credits, travel, merchandise, gift cards, and more. If you're not sure what you want, you can rest assured in the knowledge that your points can probably buy it. And, if you don't have time to redeem at home, no sweat – with BBVA Wallet, you can redeem your points in real time for everyday purchases.

No Penalty APR. BBVA ClearPoints Credit Card has no penalty APR. If you occasionally miss payments due to liquidity issues or unreliable cash flows, you don't have to worry about triggering a higher interest rate. Many competing cards charge penalty interest as high as 30% APR.

Details of Cons 

Low Baseline Earning Rate. The BBVA ClearPoints Credit Card's baseline earning rate is pretty mediocre: 1 point per $1 spent. That's less than some other no-annual-fee rewards cards, such as Chase Freedom Unlimited (unlimited 1.5% cash back) and the Citi Double Cash Card (unlimited 2% cash back when you pay in full each month).

Has a Foreign Transaction Fee. This card has a 3% foreign transaction fee on all out-of-country purchases. That's bad news for cardholders who routinely travel outside the United States, even if only on quick road trips to Canada or Mexico.

High Balance Transfer Fee. This card’s 4% balance transfer fee is enough to give balance transfer candidates pause. Some competing cards, such as Chase Slate, waive balance transfer fees altogether for a limited time on new accounts. If you can't pay off your transferred balance before the 6-month introductory APR window expires, consider looking for a better balance transfer option.

Points Expire After 36 Months. When left unused for 36 months, points expire on a first-in, first-out basis. If you're saving up your points for a big redemption way down the road, don't wait too long. As a rule of thumb, it's best to redeem at least once a year, so you don't get out of the habit.