Review: Simmons First Visa Platinum

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If you have excellent credit and tend to carry a balance from time to time, this card may be a good addition to your wallet.

This review comes from Logan Abbott, editor of the credit cards section of 

These days, it can be tough to find a credit card with a low standard APR. While it’s not too difficult to find a card with a 0 percent introductory APR, when that intro period is over, you could be stuck with a variable APR of well over 20 percent.

With the Simmons First Visa Platinum Card, cardholders can rest easy knowing their standard APR will remain low and unchanged, and they will also benefit from the great purchase and travel protections the card offers.


  • Very low standard interest rate. The Simmons First Visa Platinum offers a very low standard APR of 7.25 percent. This APR is not based on your creditworthiness. Anyone who is approved for the card receives this rate.
  • No annual fee. There’s no annual fee to use the card.
  • U.S.-based customer support. Simmons cardholders benefit from 24/7 U.S.-based customer service agents.
  • Travel coverage. At no additional cost, the Simmons First Visa Platinum Card offers travel accident insurance up to $1 million. In addition, the card offers emergency cash and credit card replacement to cardholders who are traveling and have reported the card lost or stolen.
  • Car rental coverage. The card also offers coverage for damage due to collision, theft or vandalism up to the cash value of most rental cars.
  • No balance transfer fees. While you will still pay 7.25 percent interest on the amount of the balance that you transfer, you won’t be subject to the 3 percent one-time fee that most credit card companies charge.


  • Excellent credit required. While the Simmons First Visa Platinum offers a very low standard APR, many people have reported not being approved for the card unless their credit was excellent. Even people who believed their credit was excellent have reported being denied. If you’re interested in applying for this card, make sure you have stellar credit.
  • Foreign transaction fees. Although this card is geared toward frequent travelers, it unfortunately charges a 2 percent foreign transaction fee on all foreign purchases.
  • No rewards program. The Simmons First Visa Platinum requires excellent credit, but doesn’t offer a rewards program. Other cards such as the Chase United MileagePlus Explorer Card require excellent credit as well, but offer a valuable travel rewards program
  • No introductory APR period. The card offers a great standard APR of 7.25 percent, but there is no introductory 0 percent APR period for purchases or balances transfers that you can take advantage of.

Bottom line

Get it if: You have excellent credit and are interested in a very low standard APR.

Forget it if: You don’t have any trouble paying your balance off in full every month, and you want a card with a solid rewards program.

Follow Logan Abbott on Google+

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page

Stacy Johnson

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