The Simmons First Visa® Platinum and Simmons First Visa® Platinum Rewards both come with low APR, while the latter also offers travel rewards (1 point per dollar spent). Also, those signing-up for one of these cards online will benefit from commission free balance transfers and potentially save hundreds on interest payments. There is no annual fee, but you must have an excellent credit rating in order to qualify. Here are the details…
- Excellent credit required – otherwise you won’t be accepted
- Low APR – it’s either 7.5% or 9.5%
- Earn 1 point per dollar spent with the Visa® Platinum Rewards Credit Card
- Visa Platinum shopping and travel perks.
- No balance transfer fee for balances transferred in response to this online offer.
- No annual fee
How These Cards Work?
Requirement: Like many great cards, both the Simmons First Visa® Platinum and Simmons First Visa® Platinum Rewards require excellent credit rating. Otherwise, you won’t be approved.
Travel Rewards: Available only with Simmons First Visa® Platinum Rewards, the program enables cardholders to earn one point per net dollar spent. Once they collect enough points, they can redeem them for any U.S. based airline or ticket class. There are no blackout dates or seating restrictions. Other travel related options include hotels, cruises, vacation packages, car rental, and restaurants.
APR: It is very low – 7.5% with the Simmons First Visa® Platinum card, or 9.5% with the Simmons First Visa® Platinum Rewards card. Plus, those applying online for one of these cards will benefit from commission free balance transfers.
Visa Platinum benefits: Makes your shopping and travel that much better/safer. For instance, you get up to $1,000,000 travel accident insurance and worldwide car rental coverage.
Pros
- No balance transfer fee – for those applying online (i.e. through links on this page), they will benefit from commission free balance transfers. Moving balance from some other card could potentially save you hundreds of dollars per year (considering the low APR both Simmons First Visa® Platinum cards offer).
- Low APR – these cards come with 7.5% or 9.5% variable APR, which is pretty cool if you carry balance from one month to the other.
- Visa Platinum benefits – makes shopping and travel that much better/safer. As part of the deal, you get travel accident insurance and worldwide car rental coverage.
- The Simmons First Visa® Platinum Rewards card combines low APR with rewards. Very few cards offer that.
Cons
- If you don’t have the excellent credit rating, you should look elsewhere. These two are made for folks who have impeccable credit history.
- No intro APR – perhaps we are asking too much, but that would make these two cards even better. Nevertheless, you end up with one of the lowest APR we have seen.
Head to Head Comparison
Should You Get One Of These Cards?
The first thing you should ask yourself – do you qualify for these cards. If you don’t have excellent credit rating, you will have to look elsewhere. Presuming you do qualify, you should then consider whether travel rewards mean much to you. We don’t think the Simmons First Visa® Platinum Rewards is the best card for travel, but it’s not bad either. It offers low APR along with rewards, and that’s not something we see every day. On the other hand, the Simmons First Visa® Platinum gets you “only” low APR. And if that’s what you’re looking for – you will hardly get a better rate anywhere else. It’s your call.