Verdict: If you’re looking for a card for everyday use or balance transfers, which offers modest travel rewards, with no annual fee and a relatively low APR, the Simmons First Visa Platinum Travel Rewards card may be for you.

Overview:
Overall, this card may not offer the most generous rewards or the lowest APR around, but its policies are more than fair. In a time when default APRs and over-the-limit fees can hit 29.99 % and $59, respectively, this card features more reasonable terms. It might be voted the best card for someone with excellent credit who is prone to make a small credit mistake every so often, such as paying the bill late one month.

The rewards and travel benefits are very desirable, especially for a card with no annual fee.

How This Card Works:
The Simmons First Visa Platinum Travel Rewards card offers a 9.25 % variable APR, with a 25-day grace period when you pay your balance in full at the end of the month. This, combined with the travel perks, makes it the perfect card for travel-related purchases and everyday use.

Its low APR makes it conducive to occasional emergency use, if you must carry a balance for a few months. The cash advance interest rate is only 13.25 percent, while the default APR should you miss two payments in one six month period is 16.25. If you make timely payments for six consecutive months after your second late payment, your rate will return to the variable 9.25%. This makes it easy to rebound from a small credit mistake.

You may also want to use this card for balance transfers from higher interest cards, as there’s no balance transfer fee.

Travel & Shopping Benefits:
The rewards program is very simple. That’s a huge benefit if you don’t want to remember a list of places to shop to get the best rewards or continuously check a credit card’s website for upcoming deals and new offers. It’s not fancy, but points can add up quickly for travel and vacation perks.

You’ll receive travel rewards of one point for each dollar spent. You can redeem your points for airline travel on any U.S.-based airline, with no blackout dates or seating restrictions.

You can also redeem your points for hotel stays, cruises, vacation packages, car rentals and restaurant gift certificates. The redemption process is easy, requiring only one step, and there is a toll-free customer service number should you have questions or difficulties.

Additionally, as a cardholder you’ll enjoy travel insurance coverage up to $1 million and car rental loss/damage waiver, when you rent a car using your Simmons First Visa Platinum Travel Rewards card.

Fees: There is no annual fee for this card. The over-the-limit and late payment fees are a very reasonable $29, at a time when some banks justify charging $59 for these infractions. The fee for cash advances or convenience checks is 3 %, no less than $4 and no more than $50. There is no balance transfer fee.

Pros:

• Easy to redeem points
• 25-day grace period on finance charges
• Fair penalties for late payments
• No balance transfer fee
• Limit of $50 on cash advance / convenience check fees
• No blackout dates or seating restrictions on travel rewards
• Travel insurance
• Rental car insurance

Cons:

• Other travel rewards cards offer better reward structure
• Variable APR
• Excellent credit required

(No Ratings Yet)

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