Important Information Regarding the SunTrust Cash Rewards Credit Card

Triston Martin

Dec 31, 2022

Trust Bank is the result of the merger of SunTrust and BB&T. As a result, credit cards issued by SunTrust have been replaced by credit cards issued by Trust, which come with a different set of perks. According to Trust, current SunTrust credit card holders will be issued a new credit card bearing the Trust brand when their original SunTrust card expires.

Credit Card from SunTrust with Cash Rewards

The SunTrust Cash Rewards Credit Card offers a high cash-back rate on groceries and petrol purchases and a significant loyalty benefit if you bank with SunTrust. Additionally, there is no annual fee associated with this credit card.

However, there are restrictions associated with the card. You won't be able to benefit from having this card if you don't live in one of the eligible states, don't make enough purchases at supermarkets and gas stations, or don't go shopping often enough.

To be eligible to apply for the SunTrust Cash Rewards Credit Card, even if you do not already have a bank account with SunTrust, you must be a resident of one of the following areas:

Alabama. \sArkansas.Florida.\sGeorgia. \sMaryland.Mississippi and North Carolina, respectively.State of South Carolina Tennessee.West Virginia, Virginia, and Washington, District of Columbia.

There is some benefit, but it operates differently.

Although new cardholders of the SunTrust Cash Rewards Credit Card are eligible for a bonus, it is not the type of incentive in which they must spend a certain amount within the first three months of opening their account to receive a significant credit on their statement.

Instead, you will have the opportunity to earn 5% cash back on up to $6,000 in purchases made at grocery shops and gas stations during the first 12 months that you have this card. That works up to a bonus of $300 per month, provided that you spend $500 on these categories.

Even after the first year has passed, you will still be eligible to receive an unlimited 2% cash back on gas and grocery purchases over the $6,000 limit. 1% cash back is earned on all other types of transactions.

You can choose from a variety of different redemption choices.

The SunTrust Cash Rewards Credit Card can be used for more than cash back; however, receiving cashback may be the best way to maximize the benefits of this card. Your options for getting your money back are as follows: A statement credit or direct deposit. (The least amount that can be redeemed is $5.)

Gift certificates or actual goods.

Experiences gained through travel. You can use cash-back incentives to pay the entire amount or to offset a portion of the cost while you pay for the purchase balance yourself. This makes it simple to redeem for travel even if you have not accrued sufficient cash back to pay the total cost of the trip you wish to take.

Account holders at SunTrust are eligible for supplementary benefits.

Here's where exchanging your points for cash back can net you a better deal: You are eligible for additional cashback from SunTrust if you already have an eligible bank account and choose to redeem your cash back directly into that account. The standard bonus, which applies to any checking, savings, or money market account offered by SunTrust, is an additional 10% cashback. This means that if you cash in $100 worth of cash back, you will receive $110 in total.

If you hold a SunTrust Advantage Checking, Signature Checking, or Exclusive Checking account and maintain a high minimum balance between your bank and investment accounts with SunTrust, the size of the loyalty incentive that you receive will increase.

The terms for carrying over a balance or transferring one are very favorable.

If you intend to use this card to make a significant purchase, having more than a year to pay off any balance that may have accumulated on the card is beneficial. The card has a variable continuing annual percentage rate that ranges from 12.99% to 22.99% after an introductory period of 0%. Introductory APR on purchases and debt transfers for the first 15 months. The fee for transferring a balance is either three percent or ten dollars, whichever is higher.

However, balance transfer cards offer 0% introductory APR for even longer periods, and it may be worthwhile to investigate these options.

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