Regions Bank offers the Regions Bank Premium Credit Card. You may know Regions already for the frequent checking account bonuses they offer. Let’s take a look at this card in this mini review.
Contents
Card Basics
- Sign up bonus of $300 when you spend $2,000 or more within the first 90 days.
- Annual fee of $125 not waived first year
- Card earns 1% cash back on all purchases
- You can only apply for this card in branch. Branches are found in the following states: AL, AR, FL, GA, IL, IN, IA, KY, LA, MS, MO, NC, SC, TN & TX [Branch locator]
- According to reader Evan, there is also a deposit balance requirement of an unknown amount.
Our Verdict
This card is only interesting due to the sign up bonus and given the $125 annual fee it’s really a bonus of $175 and that’s not nearly as exciting. It’s better than some cash sign up bonuses, but the $2,000 minimum spend requirement is high. I’m not sure how they really justify the annual fee given it just comes with standard Visa signature benefits and nothing else. It also requires opening in branch, personally this is an easy pass for me but might be of some very limited interest to others.
Appears you can apply online now
There is no Regions Bank in KY anymore, I know most (all?) of their literature still has KY in the fine print but all Regions banks in the state have closed.
If you live on the Indiana border in KY there are still Regions banks in the vicinity (30mi distance) but for online only offers a KY address will not work.
Sincerly,
A churner in KY
I’m aware this CC is in branch only, my message was also in relation to people going for the checking account bonus.
This is such a lousy offer even if $2K spend may be easy to fulfill for a lot of MSers. It would’ve been a good bait if they waived the AF the first year.
A “Premium” Credit card that requires spending $12,500 per year to break even on the dumb thing after the sign-up bonus.
I was actually at a Regions bank this morning to apply for this card (prior to seeing this post). I was deemed ineligible to apply as I didn’t have a certain level of relationship with Regions as it pertained to deposit accounts with them. Unfortunately I didn’t take down what type of relationship this required. I wound up opening a lower-level credit card that only had a $100 bonus and also opened up a checking account that had a $200 bonus which was listed on DOC.
why open a card for a $100 bonus?
Captive audience and only $500 spend needed.
A 20% sign up bonus is actually not that bad if you aren’t terribly concerned about the hard pull.
Interesting, thanks for the info.
So I guess the target market for this card is affluent, older Regions bank customers who want a “premium” card but really hate the idea of having a credit card with a different bank? Sometimes I feel a little guilty constantly churning bank bonuses, especially the smaller regional banks, but then I’m reminded of banks that offer terrible credit cards like this and I quickly get over it and go churn another account.