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The Simmons Visa® is a small-bank credit card aimed at folks with existing credit card debt. It has an intro-APR offer for balance transfers that, while not the best we've seen, could still be helpful to potential cardholders. See the full details in our Simmons Visa® review below.
Simmons Visa®
Great for: balance transfers
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: 0%, 12 months
Regular APR
5.50% - 23.50%, variable
Rewards
N/A
Annual Fee
$0
Welcome Offer
N/A
If you want a card from a small bank and need to transfer a balance, it might be a decent option. The intro offer for balance transfers is good, though not as long as some of the top offers.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
---|---|---|---|---|---|
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. N/A | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 17.24% - 28.24% Variable APR |
||
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best = Excellent = Good = Fair = Poor |
75,000 bonus points Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠. | 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more. |
Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.49%-28.49% Variable |
Apply Now for Chase Sapphire Preferred® Card
On Chase's Secure Website. |
This credit card is a good fit for: Cardholders who like small banks and need to transfer a balance.
New cardholders will receive up to 12 months of 0% intro APR on balance transfers. Only balances transferred within the first 60 days of account opening qualify for the introductory rate. Bear in mind that this does not apply to purchases. Also, there's a balance transfer fee if you take advantage of the 0% intro APR offer.
The Simmons Visa® is a no annual fee card. That might help if you're trying to pay down credit card balances. When you're paying off debt, you want every penny to go toward lowering your credit card balance -- not paying an annual fee.
Although the Simmons Visa® isn't intended to be a travel credit card, it does offer a few benefits that could be helpful when you're away from home. This includes secondary car rental insurance (it kicks in after your personal car insurance), as well as up to $1 million in travel accident insurance. You'll need to use your Simmons Visa® to pay for the entire cost of your rental car and/or travel for the extra protections to apply.
Read more: Best Rewards Credit Cards
Simmons Visa®'s biggest shortcoming is its lack of rewards. There are a ton of great no annual fee cards that earn rewards, even some with intro APR offers. That said, if you're just looking to transfer a balance, then the lack of rewards won't matter. You can't earn rewards on balance transfers anyway.
Simmons Visa® has a sort of reverse promotional rate for its balance transfer fee. During the first 60 days -- the time you need to make your transfer for the intro rate to apply -- you'll be charged a 5% balance transfer fee. But once the window for the intro rate ends, the balance transfer fee disappears. This could be handy if your go-to APR (the APR you get once the intro APR ends) is lower than the APR on other cards.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
It's best to have a good to excellent credit score of 670 or above when applying for the Simmons Visa®. Remember that banks look at your entire credit history, as well as your income and other factors to determine if you're approved.
If your credit score is less than stellar, you might need to improve it. Some quick ways to boost your credit score include paying off debt and looking for mistakes on your credit report. You could also apply for a credit card for poor credit first, then apply for the Simmons Visa® when your score is higher.
Read more: Best Credit Cards for Excellent Credit
This card may be a good fit if you like smaller banks and want to transfer some debt from some high-interest credit cards.
The Simmons Visa® doesn't have a lot of notable features. The card's introductory balance transfer offer may appeal to some potential cardholders. But anyone with the good credit needed to qualify for a Simmons Visa® can likely find a better 0% intro APR balance transfer offer with a longer no-interest period.
At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.
Credit limits for the Simmons Visa® vary significantly with cardholders reporting limits from $3,000 to over $25,000. Simmons bases your credit limit on your annual income, credit profile, and other factors.
A credit score in the good to excellent range -- around 670 or higher -- will likely give you the best chances of approval for a Simmons Visa®.
No, the Simmons Visa® isn't a metal credit card. It's made of plastic.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The Motley Fool owns shares of and recommends Visa.