This card offers decent cash-back benefits, but better deals on balance transfers can be found.
This post comes from Logan Abbott, editor of the credit cards section of MyRatePlan.com.
IberiaBank is a lesser-known company that offers some unique credit cards with features you don’t see on other cards on the market. The IberiaBank Visa Gold cash-back card is a solid cash-back credit card with a low interest rate.
- Earn cash back. Cardholders earn 1 percent cash back for each dollar spent on all purchases. There is no cap on the amount of cash back one can earn.
- Low introductory interest rate on balance transfers. Cardholders receive a 1.99 percent introductory APR on balance transfers for six months.
- Travel accident insurance. The card offers up to $500,000 in travel accident insurance to all cardholders.
- Lower balance-transfer fee. The IberiaBank Visa Gold charges a 2 percent balance-transfer fee. The majority of credit cards charge 3 percent of the amount of the balance being transferred.
- Low ongoing APR. Cardholders can receive an ongoing APR as low as 8.25 percent based on their credit history and paying on time.
- No annual fee. There is no annual fee to use the card.
- No 0 percent balance-transfer introductory period. Although the card offers a 1.99 percent introductory APR period for six months on balance transfers, many other cards on the market offer longer periods with a 0 percent introductory APR.
- Foreign transaction fees. Although the card offers excellent travel accident insurance, it also charges a 2 percent foreign transaction fee.
Get it if: You have excellent credit and are looking for a solid cash-back rewards card with a low ongoing purchase APR.
Forget it if: Your credit isn’t great, you want more reward points or miles, or you want to make a big balance transfer.
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