If you’re looking for a card that allows you to carry a balance without charging high interest, the Simmons Rewards Visa is a solid choice. Most low interest cards don’t offer any rewards program, but this is one benefit of Simmons Rewards Visa Signature® credit card. You get 1.25 points for every $1 you spend, and points are redeemable for cash back, gift cards, airfare and more. Additionally, the card doesn’t charge an annual fee, which is a major perk.
MoneyGeek’s Take
Simmons Rewards Visa Signature® Review
Updated: October 23, 2024
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Simmons Rewards Visa Signature®
On Issuer's Site
Rewards Rate
Earn 1.25 Rewards points for every dollar spent. APR
17.50% – 25.50% variableAnnual Fee
$0Recommended Credit
740-850 (Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
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Simmons Rewards Visa Signature® Overview
Low interest and availability of rewards are two things most cardholders want. You get a little bit of both with this card. MoneyGeek listed the rewards and benefits the Simmons Rewards Visa Signature® credit card provides its users.
Quick Take
- Low interest rate
- $0 annual fee
- Intro 0% APR offer on balance transfers stays in effect for 12 months from account opening, then a variable APR of 16.50% – 24.50% thereafter
- Earn 1.25 reward points per $1
- Redeem reward points as cash back, or use them to pay for merchandise, gift cards, car rentals, vacations or airfare
- Car rental coverage
- Travel accident insurance of up to $1,000,000
- Get access to access to complimentary 24-hour Visa Signature concierge, exclusive hotels and special entertainment packages
Important Card Details
Although the Simmons Rewards Visa Signature card offers various benefits, there may be other fees that you have to pay depending on your usage. MoneyGeeks has the details so you know what to expect.
Regular APR
Considering the average APR across all cards as of the first quarter of 2021 was 15.91%, Simmons Rewards Visa Signature® has one of the lowest at 17.25%. Typically, cardholders will have varying APRs based on several factors, but Simmons Rewards Visa Signature® offers a flat rate as long as you qualify for it.
Annual Fee
Simmons Rewards Visa Signature® has a $0 annual fee, making it a good choice if you aren’t a frequent credit card user but want a financial line available in case of emergencies.
Reward Rate
Regardless of the type of purchase, the amount of points you earn is the same. For every $1 you spend, you earn 1.25 points. Be mindful of when you receive your points because they will expire after three years. For example, if you earned 2,500 points on September 2, 2020, they will expire September 30, 2023.
Balance Transfer Fee
Simmon Reward Visa Signature offers an introductory 0% APR for balance transfers made within 60 days for the first 12 months. This means you don’t pay any interest. However, you will have to pay a fee for each balance transfer you make within the promotional period, which is $10 or 3% of the amount transferred, whichever is higher. With a balance of $150, your transfer fee is $10. In comparison, you pay $12 if you transfer $400 from an old card. After the promotional period expires, balance transfers will no longer charge a fee.
Late Fees
There is a $35 fine for late payments. Returned payments also have a $35 penalty
Cash Advance Fees
The cash advance fee amounts to a minimum of $4 or 3% of the amount of each cash advance, whichever is higher. It also applies to convenience checks. Those are checks issued by a credit card company you can use to pay balances on other cards.
Foreign Transaction Fees
You can use your card for purchases in any location that accepts Visa. Be mindful, though, that you pay a foreign transaction fee of 2% for each transaction. It is, more or less, at par with other cards.
Additional Benefits
The Simmons Rewards Visa Signature® card has other features and benefits. The list below highlights a few of them.
- Card alerts: Use this feature to turn your card off if it gets lost or stolen or back on when you find it. It also allows you to be on top of things through instant notifications about any suspicious activity made using your card.
- Data security: Simmons uses state-of-the-art security to ensure all data transmitted between your computer and their secured site is encrypted. You can rest easy knowing your personal information is safe.
- Automatic sign-off: If you remain inactive for 15 minutes while using Simmons Bank Credit Card Digital Services, their site automatically logs you off. This may cause some inconvenience since you’ll have to sign in again, but it’s better than having your account information open for long periods.
- Visa secure: This feature adds a secondary layer of protection through the use of a one-time password for sensitive transactions. The additional confirmation helps you avoid unauthorized transactions on your card.
- Round-the-clock customer service: You can reach Simmons Rewards Visa Signature®’s customer service hotline 24 hours a day.
How the Simmons Rewards Visa Signature® Compares To Other Cards
The Simmons Rewards Visa Signature® is a strong contender in the low-interest rate category because of its low APR, the absence of an annual fee and a decent rewards program. That said, the best way to confirm whether it’s the one that fits your needs is to compare it to a similar card.
How the Simmons Rewards Visa Signature® Compares
Simmons Rewards Visa Signature®
- Rewards Rate: 1.25 Points per $1
- Regular APR: 17.25% – 25.25% variable
- Balance Transfer Offer: 0% for 12 months
- Cash Advance APR: 21.25% – 29.25% Variable
- Best For: Users who want to earn rewards for a slightly higher interest rates
Simmons Visa®
- Reward Rate: None
- Regular APR: 15.25% - 23.25% variable
- Balance Transfer Offer: 0% for 12 months
- Cash Advance APR: 19.25% - 27.25% variable
- Best For: Users whose primary concern is having low-interest and are not interested in having a rewards program
Frequently Asked Questions
What is the average credit score needed to get approved for the Simmons Rewards Visa Signature® credit card?
Your credit rating has to be excellent to secure approval.
Does the Simmons Rewards Visa Signature® credit card report to all three credit bureaus?
Yes, this card does report to all three credit bureaus.
Is the Simmons Rewards Visa Signature® application process lengthy? Can you prequalify?
Although you cannot get pre-approved for a Simmons Rewards Visa Signature® card, you can complete their online application form within minutes. Make sure to read through their terms and conditions, which stipulate rates, fees and penalties. It also includes information on how to avoid interest.
It may take up to two weeks for your application to be approved.
What information is needed to apply for Simmons Rewards Visa Signature®?
You have to be at least 18 years old to apply for Simmons Rewards Visa Signature®. You’ll need to provide your complete name and contact information, our annual income, source of income and employer information, your social security number and the details of other authorized card users (if any).
Does the Simmons Rewards Visa Signature® card have good customer service or satisfaction?
Users can reach out for help through phone, email or via Simmons Bank’s website. Unlike other banks, they currently do not offer chat support. Customer service is available 24/7. That said, it’s difficult to determine the quality of the service they provide. Based on J.D. Power’s 2021 Credit Card Satisfaction Survey, Simmons Bank does not appear in their list of issuers with high customer satisfaction.
Does the Simmons Rewards Visa Signature® card have a mobile app or the option to pay or manage your account online?
You can manage your account online. Simmons Bank also has a mobile app you can download, which requires you to enroll as a Simmons Bank Online user.
Does the Simmons Rewards Visa Signature® card raise credit limits automatically or charge for limit increases?
The terms and agreement state that they can increase or decrease your credit limit after re-evaluating your financial records. If you want to request an increase, you can reach their 24/7 phone banking line at 1-877-245-1234.
Does the Simmons Rewards Visa Signature® card offer the option to freeze your credit/account or have other security features?
Once you enroll for an online account, you can download the Card Controls app, which allows you to turn your card on and off. It also gives you the option to receive instant notifications should any suspicious activity be detected.
Does Simmons offer other credit cards besides the Simmons Rewards Visa Signature® card?
Asides from the Simmons Rewards Visa Signature® card, they also offer Simmons Visa® and Simmons Bank Foundation Visa.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Board of Governors of the Federal Reserve System. "Consumer Credit — G.19." Accessed August 25, 2021.
- J.D. Power. "2021 US Credit Card Satisfaction Survey." Accessed August 26, 2021.
- Simmons Bank. "Credit Card FAQs." Accessed August 25, 2021.
- Simmons Bank. "Simmons Bank Foundations Visa." Accessed August 26, 2021.
- Simmons Bank. "Simmons Bank Visa Credit Card Agreement." Accessed August 26, 2021.
- Simmons Bank. "Simmons Rewards Visa Signature®." Accessed August 25, 2021.
- Simmons Bank. "Simmons Visa®." Accessed August 26, 2021.
- Simmons Bank. "Your Guide to Card Benefits: Simmons Rewards Visa Signature®." Accessed August 25, 2021.
- Visa. "Visa Secure." Accessed August 25, 2021.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.