What Is Truist, and Are Its Credit Cards Right for You?
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Truist Financial Corp. was created in December 2019 when BB&T and SunTrust merged into one new bank. Truist is one of the largest banks in the U.S. and is based in Charlotte, North Carolina. It offers the products and services you’d expect from a traditional bank, including checking and savings accounts, credit cards, loans and investment accounts. It also offers products for businesses, such as small-business and commercial banking.
Truist issues five credit cards:
Enjoy Cash credit card, $0 annual fee.
Enjoy Travel credit card, $0 annual fee.
Future credit card, $0 annual fee.
Enjoy Cash Secured credit card, $19 annual fee.
Enjoy Beyond credit card, $195 annual fee.
The cards each serve different purposes, so whether you’re looking for cash back or travel rewards, or you’re new to building credit, there's one that may fit. Here’s a deeper look at each Truist credit card.
Enjoy Cash credit card
The $0-annual-fee Enjoy Cash credit card provides a choose-your-own adventure experience. When you apply for the card, you decide whether you’d prefer to earn:
3% cash back on gas and electric vehicle charging.
2% cash back on utilities and groceries.
1% cash back on all other purchases.
Or a flat 1.5% cash back on everything.
If you choose the first option, note that there's a $1,000 spending cap per month on the 2% and 3% categories combined. Once you reach that limit, you’ll earn only 1% cash back on everything. Also be aware that once you decide between the two options, you can’t change your mind.
Redeem rewards for cash back (as statement credits, a mailed check or deposits into an eligible Truist account), gift cards, merchandise, event tickets and travel. If you deposit cash back into a Truist account, you earn a minimum 10% loyalty bonus (up to a 50% bonus the more you have in your account). Rewards expire five years from when you earn them.
Enjoy Travel credit card
The Enjoy Travel credit card has a $0 annual fee and earns:
2 miles per $1 spent on airfare, hotels and car rentals.
1 mile per $1 on all other purchases.
As of this writing, there's a sign-up bonus for new cardholders: Earn 20,000 bonus miles after you spend $1,500 within 90 days of account opening. Plus, you can get a statement credit of up to $85 every four years to cover the cost of TSA PreCheck or Global Entry.
You can redeem miles for hotel stays and airline tickets, but also for cash back, gift cards and merchandise. If you have an eligible Truist account and redeem miles for travel, you can receive a loyalty travel bonus of at least 10% (up to 50%, depending on how much you have in your account). Rewards expire five years from when you earn them.
Future credit card
The main perk of the Future credit card is its introductory no-interest offer. As of this writing, this $0-annual-fee card features a 0% intro APR for 15 months on all purchases and 0% APR for 15 months on balance transfers in the first 90 days after account opening. After that, the card's ongoing variable APR kicks in. If you use the Future card for a balance transfer, you’ll pay a 3% balance transfer fee.
Otherwise, the Future credit card earns no rewards and doesn’t offer a sign-up bonus.
Enjoy Cash Secured credit card
The Enjoy Cash Secured credit card is designed for consumers who are building credit. It has a $19 annual fee, and you must make a security deposit, but it rewards users like a more traditional cash-back card does. Secured credit cards typically offer few to no rewards, making this card stand out.
Similar to the Enjoy Cash credit card, the Enjoy Cash Secured credit card earns:
3% cash back on gas and electric vehicle charging.
2% cash back on utilities and groceries.
1% cash back on all other purchases.
There is a monthly $1,000 spending cap for the 2% and 3% categories. Once you reach that limit, you’ll earn 1% cash back on all purchases.
With this card, you can also redeem rewards for cash back (as statement credits, a mailed check or deposits into an eligible Truist account), gift cards, merchandise, event tickets and travel. And if you deposit cash back into a Truist account, you earn a minimum 10% loyalty bonus (up to a 50% bonus the more you have in your account). Rewards expire five years from when you earn them.
Enjoy Beyond credit card
The Enjoy Beyond credit card is Truist’s fanciest offering. The $195 annual fee buys more perks, along with a metal card for that sense of luxury.
To start, there’s a sign-up bonus, which as of this writing is as follows: Earn 30,000 bonus points after you spend $1,500 within 90 days of account opening. On an ongoing basis, you’ll earn:
3 points per $1 on travel, including airline tickets, hotels and rental cars.
2 points per $1 on dining.
1 point per $1 on all other purchases.
There is no spending limit that caps what you can earn.
That annual fee is pricey, but can be offset by the card’s other benefits:
Up to a $100 annual travel statement credit for costs including ground transportation, streaming services and ticket agencies.
Up to a $100 statement credit for TSA PreCheck or Global Entry once every four years.
Just like Truist’s other cards, the Enjoy Beyond credit card offers a minimum 10% loyalty bonus when you redeem rewards into an eligible Truist account.
If you’re willing to pay a sizable annual fee to get a feature-rich card, the Enjoy Beyond credit card has a lot of competition. Popular rewards cards with annual fees around $100 have much to offer, and premium cards with fees north of $250 can be worth it if you use most of the benefits.
Is a Truist credit card right for you?
Truist offers a solid suite of credit card options, especially if you qualify for the loyalty bonus. If you don’t bank with Truist, then other cash-back, travel and 0% intro APR cards become more compelling.
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