Simmons Rewards Visa Signature review | finder.com

Simmons Rewards Visa Signature® review

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Simmons Rewards Visa Signature®

Enjoy rewards, a low interest rate and no balance transfer fees.

30-second take

  • Get this card if you want a low purchase and balance transfer APR and don’t want to pay balance transfer fees.
  • Pick something else if you want a 0% intro APR.
  • Apply with an excellent credit score of 740 or higher.
Product NameSimmons Rewards Visa Signature®
Card TypeVisa
Annual Fee$0
APR (Annual Percentage Rate) for Purchases12.25% variable
Balance Transfer APR12.25% variable
Cash Advance Rate16.25% variable
Foreign Transaction Fee2% of the transaction value
Cash Advance Fee$4 or 3% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $35
Returned Payment FeeUp to $35
Additional Cardholder Fee$0
Minimum Age18 years of age
Reward Value per Dollar1.25x points
Rewards Points ExpiryNever

The basics

The Simmons Rewards Visa Signature® is a strong card for the same reasons as the Simmons Visa® — It has a relatively low purchase and balance transfer APR and no balance transfer fees. This makes it a good choice for a low-cost balance transfer that you pay off over time.

If you’re choosing between the two cards, consider this: The Simmons Visa® has a lower interest rate, but the Simmons Rewards Visa Signature® offers rewards.

The perks

  • Annual fee: None.

    You won’t pay to use this card.

  • Low interest rate: 12.25% variable APR on purchases and balance transfers.

    This is a relatively low APR given the average credit card APR is around 16%. The card has a standard variable APR for purchases and balance transfers, as opposed to a range of interest rates like other cards might offer. That makes the Simmons Rewards Visa Signature® a good choice if you want to be relatively certain of the interest rate you’ll receive.

  • Rewards: 1.25x rewards points on all purchases.

    It’s slightly less than the 1.5x points you’ll earn with other cards, but it’s a nice sweetener for a low-APR card. Redeem points for rewards such as flights, hotels, car rentals, merchandise and gift cards. Points are typically worth 1 cent each — the industry standard — especially when redeemed for gift cards and travel.

  • No balance transfer fees.

    The Simmons Rewards Visa Signature® can help you make a low-cost balance transfer. Providers typically charge a 3% fee per balance transfer, which can make your transaction cost more than you expected.

You’ll also like …

  • Travel benefits.

    Receive up to $1 million in travel accident insurance and free car rental coverage when you book travel with your card. Also, get access to Roadside Dispatch and Visa Signature Travel and Emergency Assistance Services when you’re in a pinch on vacation.

  • Extended warranties.

    Get extended warranties for up to one additional year on eligible items you buy with your card.

What to watch out for

  • No 0% intro APR.

    The Simmons Rewards Visa Signature® comes with a relatively low APR for purchases and balance transfers, but it doesn’t offer a 0% intro APR. You’ll find plenty of other cards that offer this.

Consider other cards if …

  • You want stronger travel rewards.

    There are plenty of cards available that offer rewards for travel. Compare travel rewards cards and find the one that’s best for you.

  • You want a 0% intro APR period.

    You shouldn’t have any issues finding a card that offers an excellent intro APR on purchases and balance transfers. Check out these 0% intro APR cards to get your search started.

  • You want a higher rewards rate.

    Explore cards like these rewards credit cards which offer great perks for your daily spending.

Compare Simmons Bank credit cards

Compare rewards credit cards

Updated December 15th, 2018
Name Product Welcome Offer Reward Value per Dollar APR (Annual Percentage Rate) for Purchases Annual Fee
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
1x points
17.99% to 24.99% variable
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
Earn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening - that's $750 toward travel when you redeem through Chase Ultimate Rewards®.
1x points
17.99% to 24.99% variable
$450
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
Earn $150 cash back after spending $500 on purchases in the first 3 months from account opening
1% cash back
16.99% to 25.74% variable
$0
0% intro APR for 15 months from account opening on purchases and balance transfers.
Earn $150 cash back after spending $500 on purchases in the first 3 months from account opening
1.5% cash back
16.99% to 25.74% variable
$0
0% intro APR for 15 months from account opening on purchases and balance transfers.
Earn $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months
1% cash back
14.99% to 25.99% variable
$0
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees

Compare up to 4 providers

How does a balance transfer work with this card?

  1. Apply for the card.

    You can make a balance transfer when you open your credit card. If you’re not ready when you open the card, you can request one later.

    To make a balance transfer, you’ll need the account number of your existing balance. You’ll also need personal information like your income, employment details and Social Security number. For each transfer, you’ll pay no fees.

  2. Understand the card’s interest rate.

    Simmons Bank doesn’t offer an intro APR on balance transfers for this card. Once you transfer a balance, it will start accruing interest at a 12.25% variable APR. If you’re unsure about any balance transfer details, contact Simmons Bank support.

What should I know before I apply?

To apply for the Simmons Rewards Visa Signature®, you must be at least 18 years old.

Information you’ll need

  • Your full name and contact information.
  • Your residential status.
  • Your annual income, source of income and employment information.
  • Your Social Security number.

What credit score do I need?

You’ll have a better chance of being approved for this card if you apply with an excellent credit score of 740 or higher.

Here are a few other factors that might affect your odds of approval:

  • Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report it could imply you’re having trouble managing your debt. Simmons Bank might think you’re desperate for credit and may be less likely to take you on as a customer.
  • Factors that tie into your credit score. Your credit utilization is a major factor Simmons Bank considers. The bank prefers a customer with low balances relative to their credit limit. Having many new credit card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

What do customers say about the Simmons Rewards Visa Signature®?

Many Simmons Rewards Visa Signature® customers say they like the rewards they earn, accumulating them for gift cards or family vacations.

Simmons Bank is not accredited with the Better Business Bureau, but it earns an A+ rating from the agency. As of this writing, it has two negative reviews.

How to apply for the Simmons Rewards Visa Signature®

  1. Go to the Simmons Bank site and click Apply online. Then click the checkbox and I agree to proceed.
  2. Complete the application form with your personal and financial information.
  3. Review your application and submit it.

Simmons Rewards Visa Signature

I got the card. Now what?

  • Make payments on time. Register an account on the Simmons Bank website to pay your balance online. You can also enroll in autopay.
  • Avoid interest. After the close of each billing cycle, you have a grace period of at least 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
  • Avoid fees. For each late payment, you’ll incur a fee of up to $35.
  • Contact customer service. If you have questions about your account, call the number on the back of your card. Alternatively, call 800-272-2102 for the Consumer Credit Cards help line.

Bottom line

Consider the Simmons Rewards Visa Signature® if you want a low APR on purchases and balance transfers, or if you don’t want to pay balance transfer fees. Its rewards aren’t the most powerful you’ll find, but you might think of them as icing on the cake.

Not sure if the Simmons Rewards Visa Signature® is right for you? There are many other great options, including low-APR credit cards, balance transfer cards with rewards and cards for long-term balance transfers.

Frequently asked questions

Images: simmonsbank.com

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Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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