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Apply online for Simmons Bank Visa® Platinum
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Our editor's take

 CardRatings Managing Editor
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If you need the Simmons Bank Visa Platinum, you probably can't get the Simmons Bank 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 Bank 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 Bank 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 Bank 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 Bank. They charge 2 percent fees on balance transfers, though. The 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. 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 Bank. However, reports from the first wave of cardholders report that Barclays' US team uses far less stringent application guidelines than Simmons Bank. 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 Bank Visa Platinum.
Curtis Arnold
Curtis Arnold
CardRatings Editor

Simmons Bank Visa® Platinum details

Purchase APR
7.25% Variable
Purchase Intro
APR:
None
Balance Transfer Intro APR
7.25% Variable
Balance Transfer Intro Period
N/A
Annual Fee
None 
see more details ∨

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 4
 4
 8
APR:
  7.25%
Variable
 7.25% Variable
 11.25% Variable
APR Floor:
 None
 None
 None
Intro Rate:
 None
 7.25% Variable
 None
Intro Period:
 
 N/A
 None


Finance Calculation Method:
 Daily Balance
Default/Penalty APR:
 N/A
Default/Penalty Margin:
 N/A
Default/Penalty APR Floor:
 None
Penalty/Default Trigger:
 N/A

Credit Card Fee Information:


Annual Fee:
 None
Foreign Transaction Fee:
 2%
Late Fee:
 $25
(An amount equal to past due payment or $25.00, whichever is less.)
Over-the-limit Fee:
 N/A
Balance Transfer Fee:
None  


Notes:

Rebate Description:
 
Special Notes:
 Consumer friendly credit card with a great low rate of 7.25% and save on interest charges. No balance transfer fees and no annual fee.
Credit Card More Information:

Card Issued By:
 Simmons Bank
General Correspondence Address:
 PO Box 7836
Card Type:
 Visa
Card Class:
 Platinum
Card Category:
 Low Interest
States Available In:
 ALL
Minimum Credit Limit:
 
Maximum Credit Limit:
 N/A
Credit Limit Notes:
 

What Simmons Bank says about this card

  • 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

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About Our Ratings ×

Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

The ratings are the expert opinion of our editors, and not influenced by any remuneration this site may receive from card issuers.

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