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Simmons Visa Review: A No Annual Fee Balance Transfer Card

Review Updated
Brittney Myers
By: Brittney Myers

Our Credit Cards Expert

Eric McWhinnie
Check IconFact Checked Eric McWhinnie
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

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.

Ratings Methodology

Simmons Visa®

Great for: balance transfers

Simmons Visa®
Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. 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.
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Rating image, 3.00 out of 5 stars.
3.00/5 Circle with letter I in it. 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
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= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

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.

    • Great for balance transfers
    • 0% intro APR balance transfer offer
    • No balance transfer fee
    • No annual fee
    • No rewards
    • Foreign transaction fee
    • $0 annual fee
    • 0% Intro APR for 12 months on balance transfers completed within 60 days of account opening date.
    • Get up to $1 million travel accident insurance at no additional cost.
    • Get secondary coverage for damage due to collision or theft up to the actual cash value of most rental cars.
    • 24-hour customer service representatives are always there to help.

Credit card comparison

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 Circle with letter I in it. 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
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. Circle with letter I in it. N/A 1% - 5% Cashback Circle with letter I in it. 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

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. 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
Best for cash back on travel purchases 		Up to $300 cash back Circle with letter I in it. 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 Circle with letter I in it. 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: Circle with letter I in it. 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.

Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. 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
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Best for travel and points transfers 		60,000 bonus points Circle with letter I in it. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠. 5x on travel purchased through Chase Travel℠, 3x on dining and 2x on all other travel purchases Circle with letter I in it. 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: Circle with letter I in it. 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.

Full Simmons Visa review

This credit card is a good fit for: Cardholders who like small banks and need to transfer a balance.

Top perks

0% intro APR for balance transfers

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.

No annual fee

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.

Travel protections

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

What could be improved

No purchase rewards

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.

Balance transfer fee

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.

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

Compare Cards

Suggested credit score

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

The Simmons Visa is right for you if:

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.

Our credit card methodology

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.

FAQs

  • 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

Brittney Myers
By: Brittney Myers

Writer

Brittney started her writing career in the world of science, putting her physics degree to good use. Her journey into finance started with building her personal credit, but soon grew into a borderline obsession with credit cards and travel rewards. For the last 7 years, she has enjoyed the ability to share her expertise with readers, as well as the opportunity to interview companies and individuals making an impact on our financial lives. She wholly believe most problems can be solved with the right research -- and a good spreadsheet -- and she specializes in translating complex financial topics into actionable advice to help educate and empower readers.

Eric McWhinnie
Check IconFact Checked Eric McWhinnie

Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.