Simmons Bank Visa® Platinum Card Review | finder US

Review: Simmons Bank Visa® Platinum Card – April 2018

Welcome to one of the lowest variable APR credit cards in the market, the Simmons Bank Visa® Platinum Card

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The Simmons Bank Visa® Platinum Card offers multiple perks, and has been named best credit card by numerous publications. The card is accessible worldwide, and is accepted anywhere that takes Visa. The Simmons Bank Visa® Platinum Card isn’t just an emergency expense tool. It also provides multiple benefits, including: travel insurance, and rental car coverage.

Product NameSimmons Bank Visa® Platinum
Balance Transfer Rate (not intro)9.50% variable
APR for Purchases ( Purchase Rate )9.50% variable
Annual fee$0
Cash Advance Rate13.50% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 25 days
Returned Payment Fee$35
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
2% of transaction value
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$35
Late Payment Fee$35
Cash Advance Fee3% of the amount of each cash advance, but not less than $4.00

Simmons Bank Visa Platinum Card Review

If you’re tired of paying down your monthly balances with a high APR, the Simmons Bank Visa Platinum Card may be worth exploring. This card has a 9.50% variable variable interest rate, and includes several helpful benefits. Transaction fees are low, and there are no annual or balance transfer fees.

Take advantage of the card’s many features, including global acceptance, up to $1,000,000 coverage in travel insurance, Visa Auto Rental Insurance and Emergency Cash and Credit Card Replacement protection. However, the Simmons Bank Visa Platinum Card does not offer rewards.

Benefits of the Simmons Bank Visa® Platinum Card

  • Global acceptance. This card is accepted anywhere that takes Visa, and allows you to withdraw cash from ATMs worldwide.
  • Travel insurance. Travel insurance covers up to $1 million. This accidental death and dismemberment coverage applies when you purchase common carrier tickets with your Simmons Bank Visa Platinum Card. Travel insurance is included with the card, for free.
  • No annual fee. You can enjoy a $0 p.a. annual fee.
  • Car rental loss/damage waiver. Visa Auto Rental Insurance is included with your card, and provides protection from damage, theft and vandalism. To utilize this feature, you must decline the auto rental company’s collision waiver.
  • Alerts. Sign up to receive alerts on your phone and email. If Simmons Bank suspects fraudulent activity on your card, they’ll contact you immediately. You can protect up to 10 Simmons Bank cards. Up to 10 mobile numbers can receive notifications.

Features

  • Statements. If you suspect there’s an error on your account statement, you can submit your claim to the company in writing, within 60 days of the statement’s mailing date.
  • Transaction fees. As a cardholder, you don’t have to pay a fee for balances transferred. The foreign purchase transaction fee is 2%. For cash advances and convenience checks, you have to pay a fee that’s 3% of the cash advance amount; This fee is at least $4 and no more than $50.
  • Credit score. Excellent Credit Required – Applicants that do not have excellent credit will not be approved
  • Emergency cash and credit card replacement. If you are traveling and your card gets lost or stolen, you are covered by the Emergency Cash and Credit Card Replacement feature.

How to apply for a Simmons Bank Visa® Platinum Card

Eligibility criteria

  • Excellent credit
  • US citizen
  • If you are under 21 years old, and want to increase your account’s credit limit, you must first get it approved in writing.

Required documents & information:

  • Full name
  • Residential address
  • Social Security number
  • Birthdate
  • Email address
  • Proof of employment and income amount

Bottom line

If you’re looking for a credit card with few fees, and a low interest rate, the Simmons Bank Visa® Platinum card could be a helpful solution. Before choosing the Simmons Bank Visa Platinum, be sure to check out other cards similar to it.

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