Elite Visa® from Zions Bank Review

Navigating the world of credit cards can be challenging, especially when you’re looking for a card that balances rewards, benefits, and fees. The Elite Visa® from Zions Bank is a compelling option, particularly for frequent travelers and dining enthusiasts. This comprehensive review will delve deep into the features, benefits, and drawbacks of the Elite Visa®, helping you make an informed decision.

Elite Visa® from Zions Bank Key Takeaways

Before diving into the details, let’s summarize the key takeaways of the Elite Visa® from Zions Bank:
– Rewards Program: Earn 3% cash back or 3x points on all travel and dining purchases, and 1.5% cash back or 1.5x points on everything else.
– Sign-up Bonus: Get $300 or 30,000 points when you spend $5,000 within the first 90 days.
– Annual Fee: $195 annually.
– APR: Variable APR ranging from 19.49% to 27.49% for purchases and balance transfers.
– Intro Balance Transfer APR: 0% intro APR for 6 months on balances transferred within 60 days from a non-Zions Bancorporation, N.A. account.
– Travel Benefits: Includes trip cancellation insurance, travel accident insurance, lost and delayed baggage reimbursement, and access to the Visa Luxury Hotel Collection.
– Credit Score Requirement: Good to excellent credit (670-799).

Elite Visa® from Zions Bank Pros and Cons

To help you weigh the merits of the Elite Visa® from Zions Bank, let’s look at the pros and cons.

Pros

– No Foreign Transaction Fees: Ideal for international travelers.
– Generous Rewards Program: High rewards rate for travel and dining purchases.
– Significant Sign-up Bonus: $300 or 30,000 points after meeting the spending requirement.
– Intro APR on Balance Transfers: 0% intro APR for 6 months on qualifying balance transfers.
– Comprehensive Travel Benefits: Offers a suite of travel protections and perks.
– Visa Luxury Hotel Collection: Automatic upgrades and VIP guest status at over 900 luxury hotels.

Cons

– Annual Fee: $195 annually, which could be a deterrent for some users.
– High Variable APR: Ranges from 19.49% to 27.49%, making it less suitable for those who carry a balance.
– High Spending Requirement for Sign-up Bonus: $5,000 within the first 90 days may be steep for some.

Elite Visa® from Zions Bank Benefits

The Elite Visa® from Zions Bank is packed with benefits that cater primarily to frequent travelers and dining aficionados. Here, we’ll explore these benefits in detail.

Cashback Rewards

One of the standout features of the Elite Visa® is its rewards program. Cardholders earn 3% cash back or 3x points on all travel and dining purchases. This is particularly advantageous for those who frequently dine out or travel. For all other purchases, cardholders earn 1.5% cash back or 1.5x points. This dual reward structure ensures that users are rewarded for a wide range of spending.

Sign-up Bonus

New cardholders can earn a sign-up bonus of $300 or 30,000 points after spending $5,000 within the first 90 days. While the spending requirement is relatively high, the bonus offers significant value and can offset the annual fee for the first year.

Travel Benefits

The Elite Visa® from Zions Bank shines in its travel benefits, making it an excellent choice for globetrotters. Key travel perks include:
– Trip Cancellation Insurance: Reimburses pre-paid, non-refundable travel expenses in case of trip cancellation.
– Travel Accident Insurance: Acts as life insurance and coverage against accidental death and dismemberment in case of a travel accident.
– Lost and Delayed Baggage Reimbursement: Compensates for delays and lost luggage, providing peace of mind during your travels.
– Visa Luxury Hotel Collection: Cardholders enjoy automatic upgrades and VIP guest status at over 900 luxury hotels worldwide.

Introductory APR on Balance Transfers

The card offers a 0% introductory APR for 6 months on balance transfers from non-Zions Bancorporation, N.A. accounts made within the first 60 days. This can be a valuable feature for those looking to consolidate debt or manage existing balances.

No Foreign Transaction Fees

For those who frequently travel abroad, the absence of foreign transaction fees is a significant advantage. This benefit can result in substantial savings over time, as many cards charge fees of up to 3% on international purchases.

Comprehensive Insurance Coverage

In addition to travel accident insurance and trip cancellation insurance, the Elite Visa® offers lost and delayed baggage reimbursement. This suite of insurance coverage ensures that cardholders are protected against a variety of travel-related mishaps.

Conclusion

The Elite Visa® from Zions Bank is a robust credit card offering a range of benefits tailored to frequent travelers and dining enthusiasts. Its generous rewards program, comprehensive travel benefits, and attractive sign-up bonus make it a compelling option for those who can leverage its perks.
However, the $195 annual fee and high variable APR may be deterrents for some users. It’s essential to consider your spending habits and financial situation before committing to this card. If you can maximize the rewards and benefits, the Elite Visa® from Zions Bank can provide significant value.
In summary, the Elite Visa® from Zions Bank is well-suited for those with good to excellent credit who prioritize travel and dining rewards. With its array of travel benefits and impressive rewards program, it’s a strong contender in the competitive landscape of premium credit cards.