BBVA Compass, the US division of global financial services group BBVA, has introduced a new credit card that offers rewards on each purchase made by the customers.

The BBVA Compass Rewards Card offers 1.5% in rewards for every $1 spent, without any cap on the earnings.

These rewards can be redeemed instantly, even at point-of-sale (POS), when integrated with the bank’s BBVA Wallet app.

Cardholders can also use the app to manage the security of their cards through blocking/unblocking and to get notifications on purchase authorisations.

BBVA Compass head of payments, Jon Groch said: “Not only are we taking the guesswork out of rewards earning by giving customers the same points on everything they buy, but we’re also combining it with the flexibility and security of BBVA Wallet.

“Now, purchasing a latte qualifies for the same points as a television, and with Wallet, you can redeem rewards points on the spot to help pay for either one of those purchases – or instantly block the card if the purchase was unauthorised.”

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The bank is also providing additional 0.5% Relationship Rewards points for BBVA Compass Rewards Card members who maintain or make direct/indirect deposits to their BBVA Compass accounts.