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Simmons Bank

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Regular Contributor

Simmons Bank

Hi...So does anyone have any experience with Simmons Bank?...Their CSR are very vague when asking about app status!!!...I was denied 6 months ago for to many inq....They fell off...Only had 1 at  the time of app...

Message 1 of 11
10 REPLIES 10
Moderator

Re: Simmons Bank


@britt585 wrote:

Hi...So does anyone have any experience with Simmons Bank?...Their CSR are very vague when asking about app status!!!...I was denied 6 months ago for to many inq....They fell off...Only had 1 at  the time of app...


Everything is manually review by committee I believe once a week if i am not mistaken unless they have changed their UW.. Very conservative bank so hopefully you don't have alot of exposure on CC or balances and have a high TU fico score as well.  Also they would frown on say more than a few new accounts a year or every two years conservative level.  Hope this helps.

Message 2 of 11
Regular Contributor

Re: Simmons Bank

Thanks...Well that was quick...DENIED....Finally got UW on the phone....They aren't very friendly...lol...Will get denial letter in the mail....

Message 3 of 11
Moderator

Re: Simmons Bank


@britt585 wrote:

Thanks...Well that was quick...DENIED....Finally got UW on the phone....They aren't very friendly...lol...Will get denial letter in the mail....


What was score and how many new accounts in last 2 years?  If you dont mind sharing 

Message 4 of 11
Community Leader
Senior Contributor

Re: Simmons Bank

If I had seen this before you apped, I would have suggested not applying just based on your recent posts.
As CC stated, they are very conservative and sensitive to almost everything 😂
Got some pruning to do... No more new cards!
Message 5 of 11
Regular Contributor

Re: Simmons Bank

cap 1 for 4 yrs

navy 3 yrs

5/3 just opened

summit CU 3 months

 

all accts in good standing no lates......2 inquiries.....I don't carry balances

Message 6 of 11
Community Leader
Mega Contributor

Re: Simmons Bank

Any reason you wanted this Bank. Seems way better options out there and anyone wanting it for thier prestige well i think thst has passed as well. JmhoSmiley Wink
#ChaseCreditCardHobby Enthusiast
2022
!
Message 7 of 11
Regular Contributor

Re: Simmons Bank

Just trying something new....Can you share some of those better options please....lol

Message 8 of 11
Mega Contributor

Re: Simmons Bank


@AverageJoesCredit wrote:
Any reason you wanted this Bank. Seems way better options out there and anyone wanting it for thier prestige well i think thst has passed as well. JmhoSmiley Wink

Yes, in the past this was a "status" bank for the 0.0001% who knew about it, as it has a very high credit standard, and, in return, offered some very low interest rates .   Now there are several banks offering low rates, sometimes with OK rewards.   @galahad15  is the go to person on this forum for details....

Message 9 of 11
Community Leader
Mega Contributor

Re: Simmons Bank

As @longtimelurker alluded to, their are more bsnks or Credit Unions with lower rate cards that are just as competitive if not more than Simmons. Im sure our research guru @Saeren can spit out names like fire lol but honestly almost any Big bank should have some type of card thst can work for you. Ime for instsnce, id recommend joining Langley Federal Credit Union, they have an excellent low apr card that at the moment is sub 9%. Best of luck and again sorry for your denial.
#ChaseCreditCardHobby Enthusiast
2022
!
Message 10 of 11
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