BBVA Compass ClearPoints(TM): Simplicity and Transparency in Action

December 17, 2009

BIRMINGHAM, Ala., Dec 17, 2009 /PRNewswire-FirstCall via COMTEX/ --

BBVA Compass introduces the BBVA Compass ClearPoints(TM) credit card in direct response to consumer demands and impending effectiveness of the Credit CARD Act legislation. The new BBVA Compass ClearPoints(TM) credit card features clear, simple and transparent terms and conditions, as well as pricing terms that will never change.

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"BBVA Compass wants consumers to know that we heard them loud and clear," said Shelaghmichael Brown, senior executive vice president and head of Retail Banking. "They asked for increased transparency and simplicity in credit offerings and with the BBVA Compass ClearPoints(TM) credit card, we're happy to give them not only that, but also a promise that with this card, we will never change their pricing terms or charge them unexpected fees. In a nutshell, the BBVA Compass ClearPoints(TM) credit card is one you would be happy to give your Grandmother."

"At BBVA Compass, we strive to build a culture of trust with our clients," Brown continued. "We are one of the few credit card issuers that did not raise rates on our customers because we were not willing to sacrifice our long-term relationships with them to realize short-term gains. It is in this spirit that we also brought the BBVA Compass ClearPoints(TM) credit card to market."

Features of the new BBVA Compass ClearPoints(TM) credit card include:

    --  Pricing terms, tied to a Prime Rate index, that will not change for the life of the card
  • No default pricing
  • No annual fee
  • No unexpected or hidden fees
  • Rewards for good payment behavior
  • Free credit bureau monitoring
  • Free identity theft coverage
  • CompassPoints rewards program

The BBVA Compass ClearPoints(TM) card is the first in a comprehensive suite of credit card products that will be rolled out by BBVA Compass in the coming months. The suite of three credit cards will cover every level of creditworthiness and includes our secured credit card, called the BBVA Compass Optmizer(TM) credit card, which was launched on November 16, 2009. By keeping the suite of products limited, consumers are able to more easily understand which card is most appropriate for their credit needs.

"Our new suite of credit card products truly embraces the letter and spirit of the Credit CARD Act," said Jon Mulkin, executive vice president and director of consumer asset products. "Each addresses the issue of transparency and strives to offer consumers the best product to meet their specific financial need in a clear and comprehensive package, while also giving them a sense of empowerment over their credit through knowledge about the particular card they hold in their hand."

BBVA Compass credit card products are currently available in Texas, Alabama, Arizona, Florida, New Mexico and Colorado. Interested consumers may learn more about the BBVA Compass ClearPoints(TM) credit card by visiting http://www.bbvacompass.com/, calling 1-800-Compass or requesting more information from their local BBVA Compass branch.

ABOUT BBVA COMPASS

BBVA Compass is a Sunbelt-based financial institution that operates 748 branches including 401 in Texas, 92 in Alabama, 66 in California, 77 in Arizona, 45 in Florida, 36 in Colorado and 22 in New Mexico. BBVA Compass is the 15th largest U.S. commercial bank based on deposit market share and ranks among the largest banks in Texas (4th), Alabama (3rd) and Arizona (5th). Additional information concerning BBVA Compass can be found on our website http://www.bbvacompass.com/.

BBVA Compass is a subsidiary of Compass Bancshares, Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a financial services group with more than $785 billion in total assets, 48 million clients, 7,600 branches and approximately 105,000 employees in more than 30 countries. BBVA ranks among the top seven largest financial institutions in the world based on market capitalization and 20th in Global Finance magazine's list of the "World's 50 Safest Banks" for 2009. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.

Editor's Note:

BBVA Compass is a trade name of Compass Bank.

SOURCE BBVA Compass

http://www.bbvacompass.com


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