Regions bank is a regional bank based out of Alabama and has branches primarily in the south. I received a targeted credit card offer sometime around April in the mail. Regions is my personal bank and I have nothing good to say about them and nothing bad either. They just shuttle my money around for free and that is all I need from a bank right now.
They offered 1200 Relationship Rewards if I spent $500 on the Visa Platinum credit card in the first 90 days. As best as I can recall I put about $500 on this card for summer term. Boom. Just like that I got a 20% return after 30 days. An annualized return of 240%.
And I’m fairly certain I’ve never used the card since. 1200 Relationship Rewards points = $100. Therefore, 1 point = $0.083. Most cash back cards have at least 1% cash back if not more and many have categories with increased percentages. This card has no such categories, no special travel points, no nothin’. Really the only thing I found moderately compelling from this card are the points received for using their other banking services. With those accumulated points and my 1200 points from the credit card, I was able to get $150 deposited directly into my account. Free money is one of life’s modern small delights.
For now, I’ve got the card open to help maximize my total available credit and since there are no fees associated with it I might just leave it open forever to boost my length of credit history. Overall this was low-hanging fruit that I gladly plucked. The game continues.