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Simmons First Visa - lowest APR in the market?

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HiLine
Blogger

Simmons First Visa - lowest APR in the market?

Once in a blue moon I actually paid attention to the band of credit cards running at the top of this page, and noticed the touted top balance transfer card: Simmons First Visa Platinum. This card does have a very low regular APR: 7.25%, and charges no balance transfer fees. If I had to carry a low-interest card for emergency situations, is there any better card out there? 

Message 1 of 9
8 REPLIES 8
slickshoes182
New Contributor

Re: Simmons First Visa - lowest APR in the market?

There are credit unions with lower rates. Off the top of my head I know anyone can join with donation:

 

Boeing Employee Credit Union (BECU) - 6.9%

State Department Federal Credit Union (SDFCU) - 6.99%

 

Not sure if anyone can join CP Federal Credit Union - 6.25% (Maybe through the YMCA? Consumer's Employee Club? Other organizations? Better double check with them.)

 

Anyone know any others?

Message 2 of 9
Dreamwalker
New Contributor

Re: Simmons First Visa - lowest APR in the market?

USAA Rate Advantage: 6.9% It sounds like you want a card now for emergencies later, having said that: The best balance transfer card I've seen is the Penfed Promise card. No BT fee, 4.99% for the life of the balance.
Walmart Store Card: $600 & Amazon Store Card: $1200
Amazon.com Visa: $500 & Chase Freedom: $3000
US Bank REI Visa Signature: $5500
Discover It: $100

TU-654 [03/18/2014]
Message 3 of 9
DaveSignal
Valued Contributor

Re: Simmons First Visa - lowest APR in the market?


@slickshoes182 wrote:

There are credit unions with lower rates. Off the top of my head I know anyone can join with donation:

 

Boeing Employee Credit Union (BECU) - 6.9%

State Department Federal Credit Union (SDFCU) - 6.99%

 


+1, my SDFCU card has a 6.99% APR.  There also are no fees (including no ForEx fees), it has an EMV chip, and it earns reward points.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 4 of 9
armbenderc
Valued Contributor

Re: Simmons First Visa - lowest APR in the market?

The Ring card is good also. I know it's high at 8% compared to the latter, but if you like Barclay, why not.

Plus, with the ring you and interact with each other.
2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 5 of 9
thom02099
Valued Contributor

Re: Simmons First Visa - lowest APR in the market?


@HiLine wrote:

Once in a blue moon I actually paid attention to the band of credit cards running at the top of this page, and noticed the touted top balance transfer card: Simmons First Visa Platinum. This card does have a very low regular APR: 7.25%, and charges no balance transfer fees. If I had to carry a low-interest card for emergency situations, is there any better card out there? 


IberiaBank Select Visa matches that.  Both IberiaBank and Simmons First can be difficult approvals from what I've read, but I had no problem with IberiaBank.  And they were rather generous with their CL of $8K to start for me.  Wasn't expecting that, figured maybe $5K as a starting point with them. 

Message 6 of 9
DaniBananiie
Established Contributor

Re: Simmons First Visa - lowest APR in the market?


@slickshoes182 wrote:

There are credit unions with lower rates. Off the top of my head I know anyone can join with donation:

 

Boeing Employee Credit Union (BECU) - 6.9%

State Department Federal Credit Union (SDFCU) - 6.99%

 

Not sure if anyone can join CP Federal Credit Union - 6.25% (Maybe through the YMCA? Consumer's Employee Club? Other organizations? Better double check with them.)

 

Anyone know any others?


I joined CP Pfederal through my Sam's Club Membership. The rep asked me how I found out about their credit union, and i gave you guys a shout out! Smiley Very Happy

 photo IT_REDDAISY_zps2c12a8e3.gif
Message 7 of 9
Petraeus
Contributor

Re: Simmons First Visa - lowest APR in the market?


@thom02099 wrote:

@HiLine wrote:

Once in a blue moon I actually paid attention to the band of credit cards running at the top of this page, and noticed the touted top balance transfer card: Simmons First Visa Platinum. This card does have a very low regular APR: 7.25%, and charges no balance transfer fees. If I had to carry a low-interest card for emergency situations, is there any better card out there? 


IberiaBank Select Visa matches that.  Both IberiaBank and Simmons First can be difficult approvals from what I've read, but I had no problem with IberiaBank.  And they were rather generous with their CL of $8K to start for me.  Wasn't expecting that, figured maybe $5K as a starting point with them. 


...but did I read this correctly..??? there is a $35 AF on the select card? Wouldn't Simmons gain an advantage for their comparable card since they dont have an AF?

FICO® Avg: 732 (11/2013)
Notable CC: AMHFCU® PLATINUM MASTERCARD $25K | Chase Marriott Rewards SigVisa $12K | AmEX PRG NPSL | BoA Cash Rewards Signature® Visa $12K | AmEX BCE $9K | Citi Diamond Preferred $10K | Chase Freedom Signature Visa $5K | BoA Travel Rewards® Signature® Visa $5K
Current Overall CL: $139K | UTL: 18% | AAoA 3yrs | Gardening since 11/26/2013
Future CC: Chase Sapphire Preferred Visa Signature®
Future CLI: AmEX BCE 2/2014 | Fico goal: 760+
Message 8 of 9
slickshoes182
New Contributor

Re: Simmons First Visa - lowest APR in the market?

The IberiaBank Select Visa is not the comparable card, the Iberiabank Visa Classic is. The IberiaBank Visa Classic has no annual fee and a lower APR (7.25% on the classic, 7.5% on the select... 7.25% is the rate on the Simmons First, too.). I don't see any advantage to the Select Visa... maybe its just easier to get approved?

Message 9 of 9
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