Money Tips: Simmons First Visa Credit Card Offer with 7.99% Fixed APR

Posted On: August 16, 2006

Guest: spjoink
Credit Expert (100+ Posts)
Post subject: Simmons First Visa Credit Card Offer with 7.99% Fixed APR
Posted: Wed Aug 16, 2006 2:36 am

what cra company does Simmons First pull from ???

Guest: wierdo
Posted: Wed Aug 16, 2006 2:32 pm

Good question, but don’t you love companies that respect their state’s usury laws?

Being a relatively small bank, I’d bet you could call them up and ask and eventually find someone who knows.

Edited to add:
If this is the card, it claims to be 7.25% fixed, not 7.99.

Wow, look at that penalty rate, only 15.25%! Too bad my scores are certainly not enough to qualify. :p

Guest: Board Monitor
Board Monitor/ Administrator
Posted: Thu Aug 17, 2006 9:03 am

Quote:
Good question, but don’t you love companies that respect their state’s usury laws?

Actuallly, Arkansas no longer has a usury law on the books, but Arkansas issued cards still remain among the lowest in the country. Great card. More info. about it here:

http://www.cardratings.com/creditcardnews/2006/08/simmons-bank-introduces-new-low-fixed.html
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Guest: wierdo
Posted: Thu Aug 17, 2006 10:05 am

Board Monitor wrote:

Actuallly, Arkansas no longer has a usury law on the books, but Arkansas issued cards still remain among the lowest in the country. Great card. More info. about it here:

I must have missed that constitutional amendment last time I voted.

My understanding was the constitution was amended to remove the fixed 10% (or whatever it was) cap and tie it to the discount rate..something like discount+6 being the maximum.

It’s 10.25% now, anyway, so usury has nothing to do with their super-low rate.