Huntington

Huntington is a full-service banking institution that offers a wide range of financial products and services for its customers in Ohio, Illinois, Michigan, Indiana, Wisconsin, Kentucky, Pennsylvania, and West Virginia.The financial services company has over 150 years of industry experience and has more than $73 billion in total assets. Its corporate headquarters are located in Richmond Heights, Ohio. The company offers its customers a Huntington Voice credit card with choice of reward options and limited upfront fees.

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The Good

• Unique reward type selection
• Limited upfront fees
• Online services

Unique Reward Type Selection

Huntington provides a unique offering for its credit card rewards that is not offered by other similar competitors. Customers can choose between two reward types on its Huntington Voice credit card. One choice gives customers the ability to earn one point for every dollar to be redeemed for three times the points in one of 13 triple rewards categories of their choosing. Cardholders may change categories once each quarter. The other choice allows cardholders to earn a three percent lower purchase APR instead of reward redemption. This helps cardholders pay total balances at a faster rate and reduce finance charges. The lower rate option includes additional rewards such as:

• Worldwide 24-hour lost/stolen card assistance
• Emergency card replacement
• Emergency cash advances
• Extended warranties

Limited Upfront Fees

The Huntington Voice credit card does not have annual fees or foreign transaction fees. The company also offers Late Fee Grace which gives customers an extra day without any penalty fees assessed if they should miss a payment. There are also no credit history requirements in order to qualify for credit card eligibility. There is a $38 fee assessed for late or returned payments. For balance transfer and cash advance transfers, cardholders will be charged the greater amount between $10 or 3 percent of the total amount of each transaction.

Online Services

Cardholders can sign up for online and mobile banking services for easier viewing and payment of credit card statements. The online service provides instant update alerts by email or text to cardholders and customers can set up automatic recurring payments as well. Cardholders can also deposit checks to their account using their iPhone from any location. The company also offers banking and investment services for cardholders as well as financial education, calculators, and other resources on its corporate website.

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The Bad

• High APR rates
• Redemption limitations
• Service restrictions

High APR Rates

After the first 12 billing cycles, the APR rates for the reward card range between 13.49 and 26.49 percent, while rates for other cards range between 10.49 to 23.49 percent. These rates are much higher than similar competitor offerings, especially for cardholders with less than perfect credit. Consumers with imperfect credit may want to consider offerings from other companies.

Redemption Limitations

The amount a cardholder can spend and still get the 3x rewards is limited to $2,000 spent on eligible purchases per quarter. Purchases made that are not listed in the 3x rewards categories will only earn one point. Customers can redeem points for statement credits or as cash in the form of a check. However, it takes approximately one week for points to be posted as statement credits and four to six weeks to receive a check. Certain restrictions may apply to all rewards and cardholders should read the terms and conditions carefully.

Service Restrictions

The website allows anyone to apply online for the Huntington Voice card. However, the company may require an individual to come in person to a local branch in order to verify the applicant's identity. The company only branches in select area of Ohio, Illinois, Michigan, Indiana, Wisconsin, Kentucky, Pennsylvania, and West Virginia. Individuals outside of these regions may be denied if they cannot visit a local branch to verify their identities. Persons who have a bankruptcy on file will not be eligible to receive the Huntington Voice credit card.

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The Bottom Line

Huntington offers its customers one credit card option with a choice between 3x rewards or lower finance rates. Customers with all types of credit histories are able to qualify. However, individuals may be required to visit a local branch to prove their identity in order to be approved. The company's credit card provides an extra day grace period, no annual fee, and no foreign transaction fee. Customers can manage their credit card accounts through Huntington's online banking services. The company's APR rates are much higher than many of its industry competitors and there are limitations to how accrued reward points can be redeemed. Overall, this card can be decent for building credit profiles, balance transfers, and consolidation of small amounts of debt.