Regions Bank offers several credit card products, each with different rewards, fees, and borrowing terms
Regions Bank, a regional lender with branches across the South and Midwest, issues credit cards through its own bank rather than in partnership with another card network. The cards come in a few main varieties: cash-back cards, cards aimed at people rebuilding credit, and cards with no annual fee. Which one makes sense depends on how you plan to use it and what your credit history looks like.
Unlike national issuers such as Chase or Capital One, Regions cards are not widely available outside the bank's footprint. You can open an account online, but you may find better terms or more card choices if you bank elsewhere or live outside Regions' service area. The cards themselves run on either the Visa or Mastercard network, so they work anywhere those networks are accepted.
Key Takeaways
- Regions issues cash-back cards, cards for rebuilding credit, and no-annual-fee cards, each with different reward rates and credit requirements.
- You do not need to be a Regions customer to open a credit card, but you will need to provide income, employment, and Social Security number information during the process process.
- Regions cards carry interest rates that vary based on your credit score and creditworthiness, so the rate you receive may differ from what another person receives.
- The bank reports your payment history to the three major credit bureaus, so on-time payments help build your credit score over time.
Regions cash-back and rewards cards
Regions' main cash-back card earns a flat percentage back on all purchases. The exact rate and whether there is an annual fee depend on which version you are looking at, as the bank updates its offerings. You can check the current terms on Regions' website or by calling their card services line.
Cash-back cards typically require good credit — usually a credit score of 670 or higher — though the bank does not publish a minimum score. If you have had late payments, collections, or a bankruptcy in the past few years, you may not be approved for a rewards card. In that case, a Regions card designed for rebuilding credit might be the better fit.
Rewards post to your account monthly and can be redeemed as a statement credit, transferred to a bank account, or sometimes used toward travel or gift cards. Read the redemption rules carefully, because some cards have minimum redemption amounts or restrictions on how you can use your rewards.
Credit-building cards from Regions
If your credit score is below 650 or you have recent negative marks on your report, Regions offers cards specifically for people rebuilding credit. These cards typically have no annual fee and no rewards, but they do report to all three credit bureaus — Equifax, Experian, and TransUnion — which means on-time payments help raise your score.
The interest rate on a credit-building card is usually higher than on a rewards card because the bank is taking on more risk. You might see rates in the 18% to 24% range, depending on your situation. The card usually comes with a low credit limit, often $300 to $500, which is normal for this product type.
The goal is to use the card for small, regular purchases and pay the full balance on time each month. After 6 to 12 months of on-time payments, you may be able to request a credit limit increase or move to a different Regions card with better terms.
Interest rates and fees
Regions credit cards carry a variable interest rate, meaning the rate can change over time as the prime rate moves. Your starting rate depends on your credit score, income, and debt-to-income ratio. The bank will tell you the rate before you accept the card.
Annual fees vary by card type. Some Regions cards have no annual fee, while others charge $95 or more per year. Cash-back cards are more likely to carry an annual fee than credit-building cards. Late payment fees, foreign transaction fees, and balance transfer fees also explore; check the card's terms and conditions for the exact amounts.
If you carry a balance from month to month, the interest charges can add up quickly. A $1,000 balance on a card with a 20% interest rate costs about $200 per year in interest alone. Paying the full balance each month avoids interest charges entirely.
How to open a Regions credit card
You can open a Regions credit card online through the bank's website, by phone, or in person at a branch. You will need to provide your Social Security number, date of birth, income, and employment information. The bank will pull your credit report from one or more of the three major bureaus.
The process takes about 10 to 15 minutes online. You will receive a decision within minutes to a few business days. If you are approved, the card ships to your address within 7 to 10 business days. You can set up it as soon as it arrives and begin using it right away.
If you are denied, you have the right to a free credit report from the bureau the bank used. You can request this report at annualcreditreport.com, the official government site. Reviewing your report helps you understand why you were denied and what you can do to improve your chances next time.
Comparing Regions cards to other options
Regions cards compete with offerings from national banks like Chase, Bank of America, and Capital One, as well as cards from credit unions and online-only issuers. If you live outside Regions' service area or prefer a card with higher rewards rates, you may find better options elsewhere.
National cash-back cards often offer higher rewards rates — 1.5% to 2% on all purchases, or higher on specific categories — and many have no annual fee. However, they also typically require good to excellent credit. If your credit is fair or poor, a Regions credit-building card may be easier to get than a comparable card from a national issuer.
The main advantage of a Regions card is convenience if you already bank there. You can manage your card and checking account in one place, set up automatic payments easily, and visit a branch if you have questions. If you do not bank with Regions, that advantage disappears.
Managing your Regions credit card responsibly
Once you have a Regions card, the most important step is paying on time. Set up automatic payments for at least the minimum due each month, or better yet, the full balance. Late payments hurt your credit score and trigger late fees.
Keep your credit utilization — the amount you owe divided by your credit limit — below 30%. If your limit is $500 and you carry a $200 balance, your utilization is 40%, which can lower your score. Paying down the balance or requesting a credit limit increase both help.
Check your statement each month for errors or unauthorized charges. If you spot something wrong, contact Regions' customer service right away. Federal law limits your liability for fraudulent charges to $50 if you report them promptly.
Frequently Asked Questions
Do I have to be a Regions Bank customer to get a credit card?
No. You can open a Regions credit card without having a checking or savings account with the bank. However, you will need to provide standard process information including your Social Security number, income, and employment details.
What credit score do I need for a Regions credit card?
Regions does not publish a minimum credit score. Cash-back and rewards cards typically go to people with scores of 670 or higher. Credit-building cards are designed for people with lower scores or recent negative marks, though approval is not may provide.
Can I use my Regions card outside the United States?
Yes, Regions cards work on the Visa or Mastercard network worldwide. However, most Regions cards charge a foreign transaction fee — typically 3% of the purchase amount — for transactions made outside the U.S. Check your card's terms to confirm the exact fee.
How long does it take to receive my Regions credit card?
After approval, your card ships within 7 to 10 business days. You can set up it as soon as it arrives and begin using it when ready. If you need the card sooner, ask whether Regions offers expedited shipping or a temporary card number you can use online.
What happens if I miss a payment on my Regions card?
A missed payment triggers a late fee and appears on your credit report after 30 days. Your interest rate may increase, and your credit score will drop. Contact Regions when ready if you cannot pay on time; they may offer a hardship program or payment plan depending on your situation.