IBERIABANK Visa® Classic Card Review
Iberiabank’s Visa® Classic credit card is another exceptional card offer from the 122 year old subsidiary of Iberibank. This is a low APR card with rates as low as 6.25% APR. It is an ideal option for those who occasionally carry a small balance and have good to exceptional credit (similar requirements to the IBERIABANK Visa Platinum Card). If you’re looking for a credit card with rewards than this option may not be fitting, however, if you value low-apr’s and no annual fees, then this is one of the best cards on the market.
Getting Approved: To be approved for the Visa Classic Card by Iberiabank you will not only need proof of income but also proof of at least 2 years of continuous employment (along with a solid credit score).
Fees and APR: There are no annual fees associated with the Iberiabank Visa Classic card. If you plan to use this card as a balance transfer credit card you will incur a 0% introductory APR on transfers for your first 6 billing cycles. Note: this only applies to balance transfers completed during your first 90 days. There are no transaction fees for balance transfers. The APR is a variable one and sits between 6.25% and 8.25%, depending on credit history. If you plan to make cash advances with the card you will incur an APR of between 10.25% and 12.25%, based on credit history. The default rate is 22.00% for all balances so be sure to keep track of balance due dates by setting up alerts online. A transaction fee for cash advances applies at a rate of 5% of the amount, not to be less than $5 nor more than $100.
Late fees associated with card: $15 for balances under $100, $29 for balances between $100 and $1,000, and $35 for balances over $1,000. An “over the credit limit fee” is $35 and the returned check fee is $29. A 25 day grace period will be granted.
IBERIABANK Visa® Classic Credit Card – Quick Facts:
- No annual membership fee
- Low variable rate of 7.25%, 10.25%, or 13.25% (Prime + 4.00%, Prime + 7.00%, or Prime + 10.00%) as of 4/1/10 based on the creditworthiness. This APR will vary with the market based on the Prime Rate. (If there is an interest charge, the charge will be no less than $1.00).
- Low Introductory APR on balance transfers of 1.99% for your first 6 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
- Online access to credit card account information.
PLEASE NOTE – Refer to the date of this article for accuracy. Some rates and other information may have changed since this was written. Visit our Credit Card Comparison page for updated credit card information.
