Last updated on September 18th, 2023
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BOK Financial Visa Signature® Real Rewards Card
BOK Financial Visa Signature® Real Rewards Card
BOK Financial Visa Signature® Real Rewards Card
- 14.49% to 23.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.49% to 23.49% based on creditworthiness and the Prime Rate Balance Transfer APR
- 25.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 1.5x points for every dollar spent
- No annual fee
- 0% intro APR for 6 months on purchases and balance transfers
- 2,500 bonus points after first purchase
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 14.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months on transfers made within 186 days from account opening date
- Balance Transfer APR: 14.49% to 23.49% based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Foreign Transaction Fee: Up to 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- N/A
At a Glance
The BOK Financial Visa Signature® Real Rewards Card earns cardholders 1.5 points for every dollar they spend. There is no limit to how many points you can earn, and you have up to five years to use your points. New cardholders can also earn 2,500 bonus points after making their first purchase with this card. What’s more, new cardholders can take advantage of 0% APR for six months on purchases and balance transfers.
Ideal for Those Who:
- Want to earn 1.5x points for every dollar they spend with their credit card
- Don’t want to pay an annual fee
- Would like to transfer a balance from an existing card with 0% interest
- Are looking for an introductory 0% APR offer on purchases
BOK Financial Visa Signature® Real Rewards Card Review
The Visa Signature® Real Rewards Card from BOK Financial is one of several rewards cards that this bank offers consumers. You earn a straightforward 1.5 points for every dollar that you spend, and there’s no limit to how many points you can earn.
New cardholders also get access to several perks with this card. BOK Financial will give you 2,500 bonus points on your first purchase, no matter how small the purchase amount. Additionally, new cardholders receive an introductory 0% interest rate for six months on purchases and balance transfers. Keep reading to learn more about this card’s features.
Keep More of Your Money with No Annual Fee
The BOK Financial Visa Signature® Real Rewards Card doesn’t charge cardholders an annual fee. While you can find many no-fee credit cards from various issuers, many rewards cards do charge fees for access to these credit cards’ many perks.
In fact, many of BOK Financial’s other rewards cards charge fees, which makes the Real Rewards card particularly attractive to consumers. Having no annual fee to pay means you don’t have to worry about how much you have to spend in order to earn enough points to cover the cost of using this credit card. You can start raking in rewards almost as soon as you get approved for this credit card.
Earn 1.5x Rewards Points on your Purchases
The BOK Financial Visa Signature® Real Rewards Card has a very straightforward points system. If trying to figure out a reward card’s tiered points system gives you a headache, then this may be an attractive feature for you.
You also don’t have to try and make unnecessary purchases on certain categories of items in order to earn points, which some cardholders feel obliged to do with tiered rewards cards. Rather, you can use your Real Rewards Card how you want knowing you’ll be earning the same amount of points for your purchases.
Cardholders earn 1.5 points for every dollar they spend with this card. This isn’t the most generous point-to-dollar rate around, but it’s better than basic. You can earn points on almost every purchase. Like many credit cards, however, cash advances and balance transfers don’t earn you points.
Additionally, you cannot earn points on gambling transactions, lottery tickets, or any items that you can convert to cash. Many credit cards have these limitations on earning points but not all of them. If you were planning on using your credit card to hit up the casino and earn points, you may want to look for another card.
Redeeming Points
Now that you know how to earn points with the BOK Financial Visa Signature® Real Rewards Card, you’ll want to know how to redeem those points. You can use your points to obtain gift cards, prepaid credit cards and merchandise from a rewards catalog.
Unfortunately, you don’t have any access to the catalog until you become a cardholder. This makes it difficult to determine what you can redeem with your points and how many points you need to earn in order to redeem anything.
The good news, though, is that you can convert your points to statement credits or cash deposits. As soon as you earn 2,500 points, you can redeem those points for a $25 credit to your Visa balance or a deposit into your BOK checking account.
In effect, you will have to spend over $1,600 before you can redeem your points. In fact, you cannot redeem your points for anything until you’ve earned 2,500 points. And BOK Financial only issues credits and cash deposits in increments of $25.
Now, you do get a head start on earning points with this card. After getting approved for the Real Rewards Card, you earn 2,500 points on your first purchase. This bonus will be added to your account between six to eight weeks after you have made that initial purchase
0% Intro APR on Purchases
One of the most attractive features of this credit card is its 0% interest introductory offers. For the first six months from the date that you open an account, you won’t have to pay interest on any purchases.
This can be beneficial to people who are looking to make some large purchases all at once. However, you should know what you need to buy first instead of applying for this card and then trying to find something to purchase.
A six-month no-interest period is a little meager compared to other credit cards with introductory 0% APR promotions. BOK Financial Even offers another credit card – the Visa® Platinum – that features an 18-month 0% APR period.
As such, the Visa Signature® Real Rewards Card may not be good for very large purchases since you will have a limited time to pay off any balance with no interest. After the six months are up, any remaining balance will automatically accrue the agreed-upon interest.
0% Intro APR on Balance Transfers
The BOK Financial Visa Signature® Real Rewards Card also offers new cardholders a zero-interest introductory period on balance transfers. Cardholders have 186 days from the date that they open an account to transfer a balance and take advantage of this offer.
As with purchases, you will have only six months to pay off your balance before it accrues interest. Compared to other balance transfer cards, this isn’t a lot of time.
It may also place further financial burden on you as you scramble to pay off a large balance over a short period of time. This feature may benefit cardholders who have a small balance on a high-interest card that they want to close.
Many other balance transfer offers give cardholders 12 months to pay off a balance, which allows cardholders to make smaller monthly payments over a longer period of time. With only six months to pay off a balance on this credit card, you may find yourself struggling.
If you are looking to use this feature, spend some time analyzing the financial impact of having to pay off a credit card balance over a short period of time with no interest versus keeping your balance on your existing card. You may need to ask yourself if it’s better to keep more cash on you every month rather than spend more and avoid paying interest.
The other drawback of transferring a balance to the BOK Financial Signature Visa is that you do end up paying for it in the end. Many balance transfer cards don’t charge a fee for transferring a balance (on top of giving you at least 12 months to pay it off).
However, almost all of BOK Financial’s credit cards do charge a balance transfer fee. In the end, the zero-interest balance transfer feature on this card may not be as beneficial as BOK Financial advertises.
Should You Apply for the BOK Financial Visa Signature® Real Rewards Card?
This credit card seems to offer limited benefits, even compared to other BOK Financial Cards. If you really insist on having a rewards card and don’t want to pay an annual fee, this might be a good option for you. Otherwise, consider another credit card that rewards you more points per dollar spent.
The introductory 0% APR offers might appear attractive at first, but they may not provide the financial boon that you need. This card may be good for making some large purchases, like shopping for holiday gifts. However, you may want to consider another card if you need to make major purchases, like remodeling a home.
The balance transfer feature is only helpful if you have a small balance you’d like to pay off. Six months is a short time to try to pay off a large credit card balance, and you will have to pay a fee.
To put this in perspective, a $5,000 balance transfer will cost you $150. Additionally, your monthly payments will come out to over $800 if you want to pay off that balance before it accrues interest. If you are looking for a balance transfer card, you are better off looking elsewhere.
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