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Last updated on December 22nd, 2020
Vectra Bank AmaZing Rate Credit Card
0% Intro APR on Purchases for the First 6 Months
- Regular Purchase APR 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 0% for the first 6 months
- Processing Network Visa
- No annual fee
- Ideal for carrying a balance
- 0% intro APR on purchases and balance transfers
- Intro Purchase APR: 0% for the first 6 months
- Regular Purchase APR: 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for the first 12 months
- Balance Transfer APR: 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transaction, but not less than $10
- Cash Advance APR: 9.24% to 15.24% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of each transaction, but not less than $10
- Foreign Transaction Fee: 3% of the U.S dollar amount of each transaction
- Late Payment Penalty Fee: Up to $25
- Return Payment Penalty Fee: Up to $25
At a Glance
The Vectra Bank AmaZing Rate Credit Card is a low APR and balance transfer credit card that packs a punch, thanks to 0% intro APR on purchases and balance transfers, no annual fee, and access to the bank’s AmaZing Deals coupon program.
Ideal for Those Who:
- Plan to carry a balance
- Don’t want to pay an annual fee
- Want an everyday card that enjoys a low rate but still earns rewards
- Live or work in Colorado
Vectra Bank AmaZing Rate Card Review
Vectra Bank is a Colorado-based bank that is part of the much larger Zions Bancorp family of financial institutions. Despite this association with a large holding company, Vectra prides itself on offering exceptional customer support and a “small bank feel.” Vectra provides a range of products designed to help the clients they serve, and the AmaZing Rate Credit Card is one such product.
A Great Low Rate
As you can tell by the card name, the AmaZing Low Rate Card offers a highly competitive interest rate. While the precise rate varies depending on the creditworthiness of the applicant, those with an excellent credit score can anticipate and APR that is around four-percent lower than the current average for a low interest rate credit card.
Even those who barely scrape the bar Vectra has for approving card applications can expect a competitive rate, however. While the rate won’t be as low, they can still anticipate a rate that likely is far lower than anything they can expect from a major lender.
0% Intro APR
The low APRs of the Vectra AmaZing Rate Card enjoy further enhancement through two 0% introductory APR offers for new cardholders. New accounts enjoy 0% intro APR for the first six months on purchases, as well as 0% intro APR for the first year on balance transfers.
A Good Option for Carrying a Balance
This combination of a great, low APR and a solid introductory 0% APR period creates a card that is conducive for both balance transfers and financing larger purchases over time. Carrying a balance is something this card does very well and is an underrated credit card perk that is often overlooked by flashier cards that offer points and cash back – and little else.
While carrying a balance isn’t ideal, it is a reality many Americans face – either because of existing debts or because of unforeseen (and costly) purchases. A low rate card, such as the Vectra AmaZing Rate Card isn’t a tool for excitement and bonuses, but rather an everyday tool that can make life easier and help keep your finances manageable.
As previously mentioned, Vectra Bank seems to enjoy giving their customers the best possible service, and as such, any Vectra Visa Cardholder has access to Vectra AmaZing Deals.
AmaZing Deals allows Vectra cardholders to show their phone at participating Colorado retailers to receive cash back when shopping. All holders need to do is download the Vectra app, login, and show the coupon at participating retailers – that’s all.
The additional perk of AmaZing Deals isn’t spectacular (and won’t replace the money you’d earn from a cash back card), but given that the Low Rate Card doesn’t collect any rewards points, this is a nice little feature that adds significant value to the card.
Should You Apply for the Vectra Bank AmaZing Rate Credit Card?
Overall, the Vectra AmaZing Low Rate Card is a reliable low APR and balance transfer credit card that benefits from the one-two punch of 0% introductory APR on balance transfers and purchases, plus the presence of the Vectra Amazing Deals program.
Zero-percent APR for 12 months on balance transfers, combined with a very competitive regular APR allows holders to pay down existing balances significantly for the first year and keep that momentum going once the introductory period finishes. The additional 0% intro APR on purchases also lets cardholders anticipate expensive purchases and pay them down within the first six months.
As a low rate card, the AmaZing Low Rate Credit Card doesn’t offer perks, as you might expect from cards such as the AmaZing Rewards or AmaZing Cash Cards. Fortunately, Vectra offers the AmaZing Deals coupon program, which allows cardholders to use their phone for cash back with select Colorado retailers. This might not replace a rewards credit card, but does add value to the card, making it a reliable tool for carrying a balance and everyday life.