Tabular Simmons Visa

Simmons Bank's filed agreement for Tabular Simmons Visa 3 18 26 discloses a purchase APR of 13.75%–21.75%, no annual fee and a 12-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 47th percentile.

What the document actually states

Simmons Bank filed this agreement for Tabular Simmons Visa 3 18 26 with the Consumer Financial Protection Bureau. The filing runs three pages, and It is issued on the Visa network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

The interest-free window

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

What matters more than the promotion is the rate waiting behind it: 21.75%. A $2,000 balance that survives the promotional window costs roughly $486 a year from that point on.

Put the other way round, the 12-month zero rate is worth roughly $486 on a $2,000 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

The purchase APR against the corpus

This is a tiered agreement: the filing discloses a purchase APR anywhere from 13.75% to 21.75%, a spread of 8 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 26th percentile of filed purchase rates; the ceiling sits at about the 47th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

The cost of carrying a balance

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $486 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $6 annually against that benchmark.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Charges beyond interest

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance fee of $4 or 3% of the advance, whichever is greater and a cash advance APR of 17.75%. The two halves of that fee cross at about $133: below it the flat $4 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing discloses a 13.75% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 2% — about $60 on $3,000 of purchases, independent of interest.

When a payment is late

On the fee side, a late payment can cost up to $39, which is around the 63rd percentile here.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Against the rest of Simmons Bank's filings

There are 124 filings from Simmons Bank in this index. The issuer's own range is 18.25%–28.24%. At 21.75%, this agreement is dearer than 14 of its siblings.

114 of the issuer's other 118 disclosing filings are likewise fee-free.

What you cannot learn from the filing

The disclosure parsed here does not state penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

Everything here is a reading of the filed agreement, three pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 21.75% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.