All information about the Simmons Visa® has been collected independently by Moneygeek.com and has not been reviewed by the issuer.
MoneyGeek’s Take
Simmons Visa® Review
Updated: December 9, 2024
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Simmons Visa®
On Issuer's Site
Balance Transfer Offer
0% Intro APR for 12 billing cycles from transfer p...APR
14.75% – 22.75% 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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MoneyGeek’s review process for credit cards involves six steps that thoroughly evaluate a card’s benefit for consumers. It involves collecting credit card information from the Consumer Finance Protection Bureau's database, following standardized data points for easy evaluation, estimating spend profiles, factoring in any card bonuses, establishing the value of holding a card for three years and reviewing data to re-rank as needed.
The Simmons Visa® is a basic credit card with no rewards or VIP perks. However, its selling point is its low interest rates and lack of annual fees. This makes it the best option for those looking to consolidate debt or maintain good credit. Balance transfers made within the first 60 days of opening an account get 12 months interest-free after a 3% or $10 fee or the transferred debt, whichever is greater. Once the 12 months are up, there is a 14.75% – 22.75% variable APR on purchases and balance transfers.
Simmons Visa® Overview
Quick Take
- Pay no annual fees for as long as your account remains active.
- Benefit by paying low APR on cash advances, purchases and balance transfers.
- Use the intro balance transfer offer to pay off other credit card debt.
- Pay no balance transfer fees for transfers initiated after the intro period.
- Auto rental collision damage waiver provides reimbursement for damage due to theft or collision up to the actual value of most rental vehicles.
- Get up to $1,000,000 in travel accident insurance, should the need arise.
Important Card Details
Before applying for the Simmons Visa card, make sure to understand all the fees and interest rates that come with it.
Low Annual Percentage Rate (APR)
The variable APR of 14.75% – 22.75% for the Simmons Visa® applies to both purchases and balance transfers. For cash advances, cardholders can enjoy a variable APR of 18.75% – 26.75%, which is low compared to other cards.
Introductory Balance Transfer Fee
For balance transfers made within the first 60 days of acquiring the Simmons Visa® card, cardholders need to pay a fee of 3% or $10, whichever is higher. This means that if you transfer a balance of $5,000 within the first 60 days, you will need to pay a fee of $150. This 3% fee can eat away at any savings you can make compared to credit cards with no balance transfer fees.
Foreign Transaction Fee
The Simmons Visa® card has a foreign transaction fee of 2%. This means that for every $100 spent abroad, an additional $2 fee will be charged to your account.
Additional Benefits
Beyond the low interest rates and zero annual fees, Simmons Visa® cardholders can benefit from a host of additional perks that the card has.
- Low interest rate: The card’s biggest selling point is the ongoing 14.75% – 22.75% variable APR. This is one of the lowest rates available.
- Zero annual fee: The Simmons Visa® card doesn’t charge an annual fee.
- Car rental and travel accident insurance: Cardholders can benefit from valuable protection and peace of mind on a trip, knowing that the Simmons Visa® card offers some form of coverage in case of an accident.
- 24/7 customer service: Simmons Visa® cardholders benefit from Simmons Bank’s great customer service, which is available 24/7.
- Great customer satisfaction: Cardholders can rest easy knowing that Simmons Bank takes care of their clients. The bank ranked within the top three in the South Central region of J.D. Power’s Retail Banking Satisfaction study in 2020, which analyzed customer satisfaction in the area.
- Easy mobile banking: Through the Simmons Bank mobile application, cardholders can easily view their balance and manage other accounts they may have with the bank.
How the Simmons Visa® Compares To Other Cards
The Simmons Visa® is undoubtedly one of the best low interest credit cards out there, but it may be lacking for some who want the benefits that come with other cards. There are some low interest credit cards that come with a few more perks, but how it ultimately compares to other cards will depend on what you’re looking for.
How the Simmons Visa® Compares
Simmons Visa®
- Annual Fee: $0
- Purchase APR: 14.75% – 22.75% Variable
- Introductory APR on Balance Transfers: 0% for 12 months for transfers made within 60 days of account opening
- Rewards Rate: None
- Mini Verdict: Best for those who want super low interest rates.
Simmons Rewards Visa Signature®
- Annual Fee: $0
- Purchase APR: 16.75% – 24.75% Variable
- Introductory APR on Balance Transfers: 0% for 12 months for transfers made within 60 days of account opening
- Rewards Rate: 1.25 points per dollar
- Mini Verdict: Best for those who want relatively low interest and rewards.
Frequently Asked Questions
What is the average credit score needed to get approved for Simmons Visa®?
To get the Simmons Visa®, a credit score of 700 or above is required to qualify.
Does Simmons Visa® report to all three credit bureaus?
Yes, Simmons Bank reports your account activity to Equifax, Experian and Transunion.
Is the Simmons Visa® application process lengthy? Can you prequalify?
No, the application process does not take long. You can apply online or at one of their 200 branches within Texas, Oklahoma, Kansas, Missouri, Arkansas and Tennessee.
What information is needed to apply for the Simmons Visa® card?
When submitting your Simmons Visa® application, you will have to provide personal information like your name, age, Social Security number, address, employer and annual income. You will also have to provide contact details like your email address and contact number. Authorized users must also be identified upon application.
Does Simmons Visa® have a mobile app or the option to pay or manage your account online?
Yes, you can download the Simmons Bank mobile application on your Android or iOS device to manage your account online.
Does Simmons Visa® raise credit limits automatically or charge for limit increases?
Yes, your credit limit on a Simmons Visa® can increase or decrease automatically based on your financial habits.
Does Simmons Visa® offer the option to freeze your credit/account or have other security features?
Yes, you can freeze or lock your account through the Simmons Bank Card Controls application.
Does Simmons offer other credit cards besides the Simmons Visa® card?
Yes, Simmons Bank offers the Simmons Rewards Visa Signature® 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.
*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.