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Simmons Rewards Visa Signature® review

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A no-annual-fee rewards card with low-interest rates.

  • Get this card if you want a low purchase and balance transfer interest rates.
  • Pick something else if you want a 0% intro purchase APR.
  • Apply with an excellent credit score of 740 or higher.

Up to 1.25x

Points

$0

Annual fee

10.25%

Purchase APR (variable)

0%

Intro balance transfer

for the first 12 months (then 10.25% variable)

Details

Product NameSimmons Rewards Visa Signature®
Card typeVisa
Annual fee$0
Purchase APR10.25% variable
Balance transfer APR0% intro for the first 12 months (then 10.25% variable)
Balance transfer fee$10 or 3% of transfer during promo or $0 after promo
Cash advance rate14.25% variable
Cash advance fee$4 or 3% of the cash advance amount, whichever is greater
Foreign transaction fee2% of the transaction value
Interest free periodUp to 25 days
Late payment feeUp to $35
Returned payment feeUp to $35
Additional cardholder fee$0

Expert review

Kevin Joey Chen

Review by


Kevin Joey Chen is a credit cards writer whose work and analysis have appeared on CNN, U.S. News & World Report, The Dallas Morning News, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order and expertly navigate the cutting-edge financial tools available -- including credit cards, apps and budgeting software.

Expert review

The Simmons Rewards Visa Signature® may be a solid option if you often carry a balance. That’s because you get a 10.25% variable APR on purchases, which is one of the lowest you can find on a credit card. As a bonus, you get to earn unlimited 1.25x points on everything you buy.

Unfortunately, this falls flat when compared to the standard 1.5x rewards you earn with most similar cards. If we add in that some cards earn 2x rewards on all purchases, then the Simmons Rewards Visa Signature® doesn’t sound like a very rewarding option.

Another drawback is the lack of 0% intro APR period. It’s true, 10.25% ongoing interest rates is excellent if you often carry your balance. But it can’t compare with paying no interest for a promotional period that most rewards cards offer.

All this makes the Simmons Rewards Visa Signature® worth considering only if you’re willing to make a trade off — get ongoing low interest rates on purchases while earning fewer rewards and skipping on 0% intro APR period.

Card benefits

  • Annual fee: None.

    You won’t pay to use this card.

  • Low interest rate: 10.25% 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.

  • Balance transfer perks.

    Between an intro APR on balance transfers and no balance transfer fees on transfers made after the promo period, the Simmons Rewards Visa Signature® can help you make a low-cost balance transfer.

  • 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 purchase 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 for purchases. You’ll find plenty of other cards that offer this.

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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.

  2. Understand the card’s interest rate.

    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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