| Last updated on October 27th, 2023
First Horizon Bank Visa Signature® Credit Card
First Horizon Bank Visa Signature® Credit Card
- 18.25% to 21.00% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 18.25% to 21.00% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 21.00% variable based on the Prime Rate Cash Advance APR
- 0% for 12 months from account opening date Intro Purchase APR
At a Glance
The First Horizon Bank Visa Signature® Credit Card gives cardholders the opportunity to earn two points for every dollar they spend at restaurants and gas stations. Cardholders can also earn one point for every dollar spent everywhere else. What’s more, you can earn 15,000 points if you spend $1,500 within 90 days from opening an account. On top of this, you also enjoy 0% APR for 12 months.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 2 points for every $1 you spend at restaurants and gas stations
- Earn 1 point per dollar spent everywhere else
- Receive 15,000 bonus points when you spend $1,500 in the first 90 days
- Enjoy 0% introductory APR for 12 months on purchases and balance transfers
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 18.25% to 21.00% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 18.25% to 21.00% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 4% of the the amount of each transfer, whichever is greater
- Cash Advance APR: 21.00% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the the amount of each cash advance, whichever is greater
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You don’t want to pay an annual fee
- You would like to earn rewards points for your purchases
- You spend a lot at gas stations and restaurants
- You plan to spend $1,500 in the first 3 months of opening an account
- You want to take advantage of 0% APR for 12 months on balance transfers and purchases
First Horizon Bank Visa Signature® Credit Card Review
The Visa Signature® Credit Card from First Horizon Bank is this bank’s only personal rewards card. Nevertheless, there still isn’t a fee to use this credit card, just like all of First Horizon’s other credit cards. That makes the rewards that much more rewarding.
Cardholders earn two points for every dollar they spend at gas stations and restaurants. Purchases in other categories earn a basic one-to-one ratio of points to dollar spent.
New cardholders can also earn 15,000 points in the first 90 days of opening an account. All they have to do is spend at least $1,500 on any type of purchase in that period.
As if those perks weren’t enough, this card also offers an introductory zero-interest period for any purchases or balance transfers you make within the first 12 months. Keep reading to find out why you’ll want to add your signature to the application for this Visa Signature® Card.
No Annual Fee on a Rewards Card
The First Horizon Bank Visa Signature® Credit Card doesn’t charge cardholders a fee to take advantage of all its benefits. Now, if you’re just looking at First Horizon’s credit card selection, this may not seem surprising to you.
However, no annual fee is a not-so-common feature of a rewards card. Even when an issuer doesn’t charge any fees for its basic credit cards, it can charge a steep fee to use its rewards card. And those rewards may not even be worth it.
With most rewards cards that charge an annual fee, potential credit card applicants usually have to calculate how much they have to spend to earn enough rewards to make the fee worth it. For example, if a credit card charges a $100 annual fee, you earn one point for every dollar spent, and each point has a value of one cent, you’ll have to spend $10,000 to break even.
In short, you won’t start to see net earnings on your rewards card until you spend $10,000. What’s great about the First Horizon Visa Signature® is that you don’t have to worry about that. You’ll see your net earnings from the first dollar you spend with your new card.
Earn 2x Points on Gas and Dining
With no annual fee, you may think that the First Horizon Bank Visa Signature® Credit Card features a really basic points system (like that hypothetical $100 credit card mentioned above). But that assumption can keep you from applying to a really rewarding rewards card.
This credit card awards cardholders with two points for every dollar they spend at gas stations and restaurants. According to U.S. Energy Information Administration, the average American individual spent just over $1,000 in a year on gas. If those Americans had the First Horizon Visa Signature® Card, they could have earned 2,000 points.
Now, imagine if you have several cardholders on the same account in your household. You could be earning several times that amount in points.
If you put a lot of miles on your vehicle for work, you could be earning even more points on top of whatever reimbursement you may get from your employer. In that case, you can be earning free points!
This card can also be a great option for those who do a lot of dining out. Foodies and those who treat clients to dinner will benefit most from this card.
1x Points on Everything Else
Even when you’re not filling up the tank or your belly, the First Horizon Bank Visa Signature® Credit Card will still earn you points when you make purchases with it. There aren’t a bunch of tiers to keep track of or revolving bonus points periods you need to remember.
Rather, you earn one point for everything you purchase that isn’t gas or dining. This feature allows you to earn points anytime you use your Visa Signature® Card.
There is no limit to how many points you can earn with this credit card. However, your points expire three years after you earn them. This gives you plenty of time to rack up enough points to redeem really big rewards, but you do need to remember to redeem them.
Additionally, keep in mind that you cannot earn points on financial transactions like cash advances and balance transfers. Although, this isn’t a unique restriction as most rewards cards don’t award points for these transactions.
Earn 15,000 Bonus Points
With your First Horizon Bank Visa Signature® Credit Card, you can earn 15,000 bonus points when you sign up. All you need to do is spend $1,500 within 90 days from the date that you open your account.
Keep in mind that you earn these points in addition to the regular points you earn. So, if you spend $1,500 on gas and dining, you’ll earn 3,000 points in addition to the 15,000 bonus points. That’s like earning 12 points for every dollar you spend.
However, don’t get too excited about cashing in your accumulated points at the three-month mark. These points won’t appear on your account until about five months after you have earned them. Just remember that patience is a virtue.
Redeeming Your Points
Before you apply for the First Horizon Bank Visa Signature® Credit Card, there isn’t really a way to browse the rewards catalog to see what you can get for your points. Many credit card issuers keep their rewards catalogs private these days until you actually get approved for a card.
This can make it frustrating to determine whether the rewards make applying for this card worth your while. However, First Horizon does give estimates for how many points you need to earn to obtain certain categories of rewards.
For example, gift cards start at 5,000. Many rewards programs’ gift card selections start at $25 denominations. Taking this into account, each point is worth $0.005 when you redeem your points for a $25 gift card.
One of the downsides of redeeming points for a gift card is the length of time you need to wait to receive your gift card. You don’t get it instantly, but rather need to wait about three to four weeks to receive it.
However, you can also start redeeming car rental and hotel stay vouchers with 5,000 points. In this case, your points may have a different value than when you redeem them for gift cards.
When you earn 25,000 points, you can start looking at some more exciting rewards, like:
- All-inclusive vacations
- Event packages that include travel
One of the great details about airfare redemptions is that there are no black-out dates, which means you can travel whenever you want using your Visa Signature® points. However, tickets purchased with points are non-refundable. If you envision having to cancel your travel plans for any reason, you may want to save those points for another type of purchase.
Remember that if you meet the spending requirements for the bonus points, you can be over 70% on your way to redeeming your points for travel!
0% Introductory APR on Purchases
While the First Horizon Bank Visa Signature® Credit Card ‘s rewards are reason enough to apply for this card, the introductory 0% APR sweetens the deal. For the first 12 months after signing up for this card, you can enjoy zero interest on any purchases and balance transfers you make during the same 12 months.
This is a particularly appealing offer for people who need to make a large purchase – like furnishing a home – right away. It gives them the opportunity to pay off their purchase over 12 months without having to pay anything extra. All the while, they’ll earn points on their purchases.
However, you should identify what you need to purchase before applying to this card. That way you’ll maximize the amount of time you have to pay off your balance. You can also determine whether you can afford to make the monthly payments.
0% APR on and Balance Transfers
The balance transfer feature on the First Horizon Bank Visa Signature® Credit Card is also attractive to people who have a balance on an existing credit card, especially if that card has a high interest rate. While some credit cards require you to transfer a balance within a short period of time from the date of opening an account, you can transfer a balance any time during the 12-month introductory period and still take advantage of zero interest.
Keep in mind, however, that 12 months of 0% APR applies from the date that you open your account and not the date that you transfer a balance. As such, you should transfer larger balances as soon as you sign up for this card, so you have the full 12 months to pay it. Remember that any balance that remains on your account after the promotional period will automatically accrue interest.
Also remember that balance transfers are not free with this card, even during the promotional period. You will have to pay a fee to transfer a balance, although it is minimal.
Should You Apply for the First Horizon Bank Visa Signature® Credit Card?
Considering that First Horizon Signature® Visa doesn’t charge an annual fee, this is perhaps the most rewarding car in First Horizon’s credit card offerings. The 2X points on gas and restaurant purchases is quite generous for a no-fee card.
The secret rewards catalog, however, is annoying. Even if this is the trend among many rewards cards, being able to see what you can redeem your points for can make it that much easier to decide on a credit card.
Nevertheless, First Horizon does give potential applicants more preliminary rewards information than many of its competitors. You’ll at least know how many points you need to earn for certain types of rewards.
The bonus point offer isn’t remarkably generous, and you can find other rewards cards with bigger signup bonuses. However, many of those cards may also charge a fee.
What can really make you decide to apply to this card is its introductory 0% interest promotion. With purchases, you can be earning points in your first year without having to spend anything extra.
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