Review: Simmons Bank Credit Cards

simmons-bankSimmons Bank has financial institution places in eight states, however it offers its credit cards nationwide. The primary promoting level of the Simmons bank cards is their low rates of interest, among the many lowest within the nation. Our overview / assessment of the Simmons Bank bank cards is beneath:

The very first thing to learn about Simmons Bank bank cards is that they aren’t very straightforward to qualify for. You have to have a excessive credit score rating. How excessive? We’re undecided, however every little thing we’ve ever seen or heard about these playing cards tells us that you’ll not be accepted in case you’ve bought a shaky credit score historical past. If in case you have missed funds previously or have lots of debt on different bank cards proper now, it’s unlikely you’re going to get certainly one of these low-interest playing cards. Sorry.

In case your credit score is excellent, you in all probability will qualify. Let’s take a look at the 2 playing cards that Simmons gives:

  • The Simmons Bank Visa gives a 10.5% rate of interest, among the many very lowest in our listing of Low Interest Credit Cards. There is no such thing as a annual charge. There is no such thing as a rewards program, simply that nice charge. You’ll be able to switch a stability from a higher-interest bank card over to this one and get a 0% rate of interest on that stability for 12 months; after the 12 months, that stability would then be charged on the common 10.5% rate of interest. (Be aware that stability transfers do have a charge of three% of the quantity transferred. For instance, transferring a $1000 stability would incur a one-time $30 switch charge.)

  • The Simmons Bank Rewards Visa Signature gives a factors rewards program, wherein you get 1.25 factors for each greenback charged to the cardboard. Factors can be utilized towards journey, merchandise, reward playing cards, money again, and many others. The rate of interest on this card is a still-excellent 12.50%, and there’s no annual charge. If in case you have adequate credit score to qualify for a Simmons card, you in all probability don’t carry balances in your card fairly often, so this card would possibly truly be a more sensible choice than the cardboard above.

Right here’s What’s Bizarre

Simmons Bank bank cards have nice rates of interest, however they aren’t straightforward to qualify for, and the rewards card isn’t very beneficiant when in comparison with different rewards bank cards. They’re nice playing cards when you’ve got a wonderful credit score historical past and also you have a tendency to hold balances, because of the low rates of interest.

However our instinct tells us that most individuals with wonderful credit score histories in all probability don’t commonly carry balances, so that they’d be higher off with a more rewarding credit card, as a result of the upper rates of interest on these playing cards wouldn’t matter in case you by no means needed to pay curiosity to start with. Then again, those that do have a tendency to hold balances are more likely to have decrease credit score scores and possibly not qualify for these playing cards. So, it’s laborious to say precisely who these playing cards are for!


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