IBERIABANK Visa Classic Credit 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.
Visit their website to learn More
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:
- Variable Rate APR ranging from Prime + 4.00 thru Prime + 10.00% depending on creditworthiness and other factors
- Purchase and Cash Advance APR’s may vary with the market based on the Prime Rate.
- No annual membership fee
- Low Introductory APR on balance transfers for the first 6 billing cycles. Applies to balance transfers processed within three months of your account open date
- 25 day grace period
- Online access to credit card account information
