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Simmons First Credit Card

Senior Contributor

Re: Simmons First Credit Card


davidboca wrote:

Update: After waiting for 5 bank working days, I received my card in the mail today. I telephoned the toll free number indicated on the removable label to activate my new $5000. credit line.

I must state that so far, I am greatly impressed with the way this bank does things.

My question now is: Does Simmons grant automatic credit line increases?


 

I have read a few posts on Simmons, and from what I have seen, you have received a fairly nice CL. IME on reading about them, they are not know for a lot of CLI and are very conservative.  They are also not known for very high CL's.

 

Congrats on the card.  And again, this is information from my reading of others, not from personal experience.

 

Smiley Happy

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 11 of 25
Contributor

Re: Simmons First Credit Card

Thanks John!  There is one other interesting point that I failed to mention about my new card. I took notice that it expires in only 1 year. Most of my cards are issued with validity term of 2, 3, or 5 years. 

Message 12 of 25
Senior Contributor

Re: Simmons First Credit Card

Interesting on the 1 year expiration....does that mean they look at customers so conservatively they don't even want to issue a card for more than 12 months?

 

I wonder if their rate at 7.25% will go up prior to the Feb 2010 regs?  Addison Avenue had a great 5.24 but raised it to 7.25 in anticipation of the new regs, effective 2/2010.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 13 of 25
Contributor

Re: Simmons First Credit Card

John, I believe you've hit the nail on the head. They want to see how I do with the card, hence the 12 1/2 month validity before expiration. If I do well they might give me another with a more extended date.
Message 14 of 25
Regular Contributor

Re: Simmons First Credit Card

My experience was similar--many years ago.  Follow the strategies on this forum and Simmons will be very happy with you.  I believe after the first year I was extended to 2-3 years.

Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


Take the FICO Fitness Challenge
Message 15 of 25
Contributor

Re: Simmons First Credit Card

Thank you Focus. I opine that it is good to know of other's experience with this bank, resulting in becoming aware, the better to maintain optimum FICO scoring, and to avoid any unforeseen obstacles.

Your input is greatly appreciated.

Message 16 of 25
Regular Contributor

Re: Simmons First Credit Card

You are quite welcome.  Also, it's been my experience that transactions/payments seemingly take an extra day to hit the online activity.  Keep that in mind when you schedule your activity.  Also, paying your cc online will have to be set up.  Notify the bank by phone to have the "Make Payment" option live on your online option drop down.

Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


Take the FICO Fitness Challenge
Message 17 of 25
New Member

Re: Simmons First Credit Card

It is good to read all of this. On 1/5 I appled for this card and a few days later received an application asking for my assets and liabilities as well as a pay stub. I still have not heard back from them. I got a response on my mortgage faster than this  Anyway, from all i read it should be worh it.....if i get approved. I applied mainly becauseo the rate but also because it is a no-nonsense card with no gimmicks.
Message 18 of 25
Contributor

Re: Simmons First Credit Card

Welcome the the forum HG! I wish you good luck with your application. This card has some nice worthwhile benefits although no rewards, unless one opts to consider applying for the Platinum Rewards Card from Simmons First which has a higher apr.
Message 19 of 25
New Member

Re: Simmons First Credit Card

thx - no i applied for the regular one but it has been 2 weeks so who knows...........
Message 20 of 25