The SunTrust Prime Rewards Credit Card has an offer of $100 bonus cash when you spend $500 within the first three months of account opening. Considering there are no fees with this card, this could be considered a good welcome bonus.
SunTrust Prime Rewards earns an unlimited, flat 1% cash back rate on all purchases. If you’re a SunTrust Bank account holder, you can potentially earn up to 50% from their loyalty cash bonus. Unfortunately, if you don’t already bank with the issuer, you must live in a state where SunTrust operates in order to apply.
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Table of Contents
Suntrust Bank Prime Rewards Credit Card Summary
|Bonus Available||Get $100 Statement credit after you spend $500 on purchases within the first three months of account opening.|
|Ongoing Rewards/Benefits||Earn unlimited 1% cash back on all qualifying purchases.
Receive a Loyalty Cash Bonus of 10%, 25%, or 50% when you deposit your cash back into a SunTrust account.
Pay no fee when you transfer a balance during the first 60 days of account opening.
|Foreign Transaction Fees?||No|
(Visit SunTrust.com for more detail about this card)
SunTrust Prime Rewards Card Offers
Take advantage of the SunTrust Prime Rewards Card’s introductory offers:
- Balance transfers are free for the first 60 days after account opening. After that, you will either be charged $10 or 3%, whichever is greater.
- $100 in the form of statement credit when you charge at least $500 to your card within the first three months of account opening.
Here are some ideas on how to reach the spending limit:
|• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.|
|• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on the bank.|
|• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.|
|As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
Earning SunTrust Prime Rewards
With the SunTrust Prime Rewards credit card, you earn an unlimited flat rate of 1% cash back on all qualifying purchases. There are no limits on how much you can earn.
Redeeming SunTrust Prime Rewards
Although it is a cash back rewards card, the SunTrust Prime Rewards credit card can be used in a number of different ways:
- Direct Deposits
- Statement credits
- Gift cards
For the best value, redeem your rewards for direct deposits into a SunTrust account(more information provided below). Keep in mind that these have a $5 minimum redemption.
SunTrust Loyalty Cash Bonus
With SunTrust Loyalty Cash Bonus, the more you have in your deposit accounts, the bigger the bonus when you redeem your rewards directly into a SunTrust account. Get a:
- 10% bonus if you deposit your cash rewards into a SunTrust checking, savings, or money market account. At this tier, there is no balance requirement.
- 25% bonus if you have a SunTrust Advantage Checking, Signature Checking, or Exclusive Checking account, and you have combined consumer deposits and investment balances totaling $25,000 up to $100,000.
- 50% bonus if you have a SunTrust Advantage Checking, Signature Checking, or Exclusive Checking account, and you have combined consumer deposits and investment balances totaling over $100,000.
- 50% bonus if you’re enrolled in the SunTrust Premier Program or SunTrust Private Wealth Management. There is no balance requirement.
The chart below shows how the Loyalty Cash Bonus will affect your Prime rewards.
|Loyalty Bonus||Rewards Rate|
If you keep large balances in your SunTrust account, the loyalty bonus could help you earn cash rewards similar to what other credit cards with no annual fees offer.
Suntrust Prime Rewards Credit Card Availability
If you don’t already bank with SunTrust , the Prime Rewards credit card is limited to within the issuer’s network. That includes:
|Florida||North Carolina||Washington D.C.|
|Georgia||South Carolina||West Virginia|
Otherwise, you’ll need to consider other credit card options.
If you don’t already bank with SunTrust, its Prime Rewards credit card won’t be as attractive as other no-annual-fee cards out on the market. The card’s 1% unlimited cash back on qualifying purchases only becomes decent with the bank’s loyalty cash bonus. Moreover, you’ll need to hold a large balance in your bank accounts to get a worthwhile rewards rate.
Consequently, this credit card may be perfect for you and your lifestyle so if you’re interested, be sure to check out on what more Suntrust Bank has to offer you. In addition, for more credit cards, see our latest list of the best credit card bonuses!
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