Vivid Rewards Visa® from Zions Bank Review

Credit cards come in all shapes and sizes, designed to meet a variety of financial needs and preferences. The Vivid Rewards Visa® from Zions Bank is a unique card that caters to those who enjoy dining out, entertainment, and frequent transit use, while also offering digital services rewards. This card stands out for its impressive rewards structure and other robust benefits. Let’s dive into a comprehensive review of the Vivid Rewards Visa® Card and see if it aligns with your financial lifestyle.

Vivid Rewards Visa® from Zions Bank Key Takeaways

When evaluating a credit card, it’s essential to focus on key aspects such as rewards, fees, interest rates, and additional benefits. Here are the primary takeaways of the Vivid Rewards Visa® from Zions Bank:
1. Rewards Structure: Earn 3x points per $1 spent on dining, entertainment, transit, and digital services. Earn 1x point per $1 spent on all other eligible purchases.
2. Introductory APR: Enjoy a 0% Intro APR for 6 months on purchases from the date of card account opening.
3. Variable APR: After the introductory period, the APR ranges from 17.50% to 29.50%, based on your creditworthiness.
4. Balance Transfer: 0% Intro APR for 12 months from the date of card account opening, which is beneficial for those looking to consolidate debt.
5. Fees: $0 annual fee, no foreign transaction fees, and standard fees for balance transfers and cash advances.
6. Credit Score Requirement: Good to Excellent (670-799).
7. Additional Benefits: Includes travel accident insurance, car rental collision damage waiver, fraud protection, and more.

Vivid Rewards Visa® from Zions Bank Pros and Cons

Understanding the pros and cons of a credit card can help you determine if it fits your financial needs. Here’s a detailed look at the advantages and disadvantages of the Vivid Rewards Visa® from Zions Bank.

Pros:

1. No Annual Fee: One of the most attractive features is the $0 annual fee, which can save you money in the long run.
2. Intro APR Period: The 0% Intro APR for 6 months on purchases and 12 months on balance transfers provides breathing room for significant purchases or debt consolidation.
3. No Foreign Transaction Fee: Ideal for international travelers, as it allows you to use your card abroad without incurring extra charges.
4. High Rewards Rate: Earning 3x points on dining, entertainment, transit, and digital services caters to modern spending habits and maximizes rewards in these categories.
5. Good to Excellent Credit Requirement: Accessible to a broad range of consumers with good to excellent credit scores.
6. Comprehensive Travel Insurance: The card offers travel accident insurance and car rental collision damage waiver, which are valuable for frequent travelers.
7. Robust Fraud Protection: Ensures your transactions are secure with advanced fraud detection and resolution services.

Cons:

1. No Welcome Bonus: Unlike many other rewards cards, the Vivid Rewards Visa® does not offer a sign-up bonus, which can be a drawback for those looking for immediate rewards.
2. Extra Fees: While the card has no annual fee, there are fees for balance transfers (3%) and cash advances (4%), which can add up.
3. Variable APR: With a variable APR ranging from 17.50% to 29.50%, interest rates can be high for those with lower credit scores.
4. Limited Intro APR Period: The 0% Intro APR on purchases is only for 6 months, which might be shorter compared to other cards offering up to 12 months.

Vivid Rewards Visa® from Zions Bank Benefits

The Vivid Rewards Visa® offers a range of benefits that enhance its appeal beyond the basic rewards structure. Here’s an in-depth look at the card’s additional perks and features.

Travel Benefits

1. Car Rental Collision Damage Waiver: This benefit can save you from purchasing additional insurance from rental agencies. It covers damage or theft of the rental car, providing peace of mind during your travels.
2. Travel Accident Insurance: Protects you and your family from financial consequences arising from accidents while traveling. This coverage can be crucial, especially when traveling abroad.

Purchase Protection

1. Purchase Protection: Covers new purchases against damage or theft for a specified period, typically 90 days from the date of purchase. This can be particularly useful for expensive electronics or gadgets.
2. Extended Warranty Protection: Extends the manufacturer’s warranty on eligible purchases, providing additional protection and potentially saving you money on repairs or replacements.

Payment Flexibility and Fraud Protection

1. Payment Flexibility: With a due date at least 25 days after the close of each billing cycle, you have ample time to pay off your balance and avoid interest charges. The card also offers flexible payment options to manage your finances better.
2. Fraud Protection: Advanced security features ensure your transactions are monitored for suspicious activity. In the event of fraud, you are not held liable for unauthorized transactions, providing peace of mind.

Rewards Program

1. 3x Points Categories: Earn 3x points on dining, entertainment, transit, and digital services. These categories are broad and encompass everyday expenses, allowing you to rack up points quickly.
2. 1x Points on Other Purchases: Even on purchases outside the bonus categories, you still earn 1x points per dollar spent, ensuring every transaction contributes to your rewards.

Travel-Friendly Features

1. No Foreign Transaction Fees: Use your card abroad without worrying about additional charges, making it an excellent choice for international travel.
2. Lost Luggage Reimbursement: If your luggage is lost or delayed, this benefit can reimburse you for essential items, reducing the inconvenience during your trip.

Conclusion

In conclusion, the Vivid Rewards Visa® from Zions Bank is a versatile and rewarding credit card ideal for individuals who frequently dine out, enjoy entertainment, use public transit, and subscribe to digital services. Its rewards structure, combined with no annual fee, 0% intro APR period, and robust travel benefits, makes it a compelling choice for many consumers. However, the absence of a welcome bonus and the presence of extra fees for balance transfers and cash advances might be a deterrent for some.
Ultimately, whether this card is right for you depends on your spending habits and financial goals. If you can maximize the 3x points categories and take advantage of the travel benefits, the Vivid Rewards Visa® from Zions Bank could be a valuable addition to your wallet. As with any financial product, it’s essential to read the fine print, understand the terms and conditions, and evaluate how it fits into your overall financial strategy.
As a financial expert, I recommend assessing your spending patterns and comparing this card with other options to ensure you choose the best credit card that aligns with your lifestyle and financial objectives.