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If you need the Simmons First Visa Platinum, you probably can't get the Simmons First Visa Platinum. That's because this credit card for excellent credit operates at an intersection rarely crossed by most Americans: a no frills, no annual fee credit card with one of the lowest APRs on the market, available exclusively to applicants with zero blemishes on their credit reports.

With physical branches in just three states, Simmons First barely qualifies as a regional bank. However, they've spent over a century building a reputation for fairness, value, and customer service. Their conservative underwriting approach means that very, very few of their customers ever default on their loans. Therefore, they can offer some of the country's best low interest credit cards. This basic credit card routinely offers a very small spread from the prime rate, ensuring that you'll save money whenever you need to park a balance here.

Best card for balance transfers
Simmons First Visa Platinum may not come with a leading-edge online banking service or a fleet of concierges standing by, but it offers something that most elite credit cards don't provide: free balance transfers. That means you can pair this account with your favorite rewards credit card or cash back credit card whenever you can't pay off a purchase within a single statement cycle. This one-two punch can help you finance large purchases, like appliances or vacations, when you don't have access to a zero interest teaser rate from another lender.

Otherwise, this card's extra perks and benefits match what you'll get from just about any lender's entry level Visa or MasterCard account. The card includes ATM access for cash advances at a slightly higher interest rate than that for standard purchases. Purchase your airline or cruise tickets with this card, and you'll get up to a million dollars in automatic travel accident insurance. The Visa Auto Rental Insurance program means you won't have to pay a rental agency's CDW at the airport.

How the Simmons First Visa Platinum compares to other low interest credit cards

Only a few credit cards offer similar feature set. IberiaBank, another small lender, issues Visa Platinum accounts with APRs about the same as Simmons First. They charge 2 percent fees on balance transfers, though. The Citi Simplicity card has earned rave reviews for a low introductory rate offer, but balance transfer fees and double-digit APRs kick in after 18 months with the account. Chase Slate also offers occasional signup promotions an introductory no fee balance transfer if you transfer balances during the first 60 days your account is open. Like Citi Simplicity, Slate's variable interest rate rises back above 10 percent at the end of the teaser period.

Barclaycard Ring lets you transfer a balance at no fee, anytime, with a variable interest rate that's about a percentage point higher than Simmons First. However, reports from the first wave of cardholders report that Barclays' US team uses far less stringent application guidelines than Simmons First. If you've got a significant balance on a competing card, you may have an easier time getting approved for Barclaycard Ring than for a Simmons First Visa Platinum.

Highlights: Simmons First Visa® Platinum

Editor's Rating

Simmons First Visa<sup>®</sup> Platinum

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  • Created for those with Excellent Credit and approval is based on your credit rating and application review.
  • Low 7.25% variable standard purchase APR and platinum benefits
  • No balance transfer fee for balances transferred in response to this online offer
  • No Annual Fee
Credit Required: Excellent
Balance Transfer Intro APR

7.25% Variable

Balance Transfer Intro Period


Balance Transfer Fee

Purchase APR

7.25% Variable

Annual Fee


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