IberiaBank Visa® Select Credit Card
Sponsored Card
- Minimum Credit Required:
Excellent - Annual Fee:$35
- Network: VISA
| Intro Rate 0% |
Intro Period 0 - 12 months |
Regular Rate 7.5% - 11.5% (V) |
| Intro Rate1.99% - 7.5% | Intro Period12 months | Regular Rate7.5% - 11.5% (V) | Balance Transfer Fee 3% |
| Cash Advance Rate 12.75% - 16.75% (V) |
Cash Advance Fee 5% (min $5) |
- Introductory Rate of 0.00% or 7.50% based on creditworthiness for 12 months from date opened on Purchases.
- Low Introductory APR on Balance Transfers of 1.99 or 7.50% for the first 12 billing cycles.
- Low Ongoing Variable Rate APR after introductory period on both purchases and balance transfers of 7.50%, 9.50%, or 11.50% based on your creditworthiness.
- Excellent Credit is required in order to get approved. As a minimum guideline, Excellent Credit may refer to a credit history free of derogatory information, including current or past delinquency, bankruptcy, and/or collections.
- Proof of Income is required on both the applicant and co-applicant (if applicable) to complete an application.
- Max Late Fee: $35
- Max Overlimit Fee: None
- Max Penalty APR: None
- Grace Period: 25 days
- Online Response: No
- Foreign Transaction Fee: 3%
If you currently have the IberiaBank Visa® Select Credit Card and are satisfied or you like the terms of this credit card offer please let your friends know.
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IberiaBank Visa® Select Credit Card is related to the following credit card categories:
- 0% Credit Cards for Excellent Credit
- VISA Card
- Visa Credit Cards for Excellent Credit
- Low Interest Credit Cards for Excellent Credit
- VISA MasterCard
- Low Interest Visa Credit Cards
- Low Interest Credit Cards
- Unsecured VISA Credit Cards
- 0% APR Low Interest Credit Cards
- Credit Cards for Excellent Credit
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Before applying for a credit card we recommend that you review and verify the credit card terms and conditions on the credit card company's web site. Please let us know if you find any differences related to the IberiaBank Visa® Select Credit Card shown on this page.
The card information shown on this page was last updated: May 23rd, 2012 at 3:33 EDT
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So what is it; do you have a big purchase coming up or are you trying to lower the cost of existing debt? I mean, those are the two main reasons to look into a card like the IberiaBank Visa Select Credit Card that doesn’t offer any rewards but has low(ish) interest rates. The IberiaBank Visa Select Card requires excellent credit for approval after all, which means you’d be wasting a lot of potential rewards value using it for everyday spending. With this in mind, let’s take a gander at what I see as being the IberiaBank Visa’s pros and cons. Pros - Frankly, I’m having a tough time finding a true pro in regards to the Visa Select Card from Iberia Bank. Cons - 0% intro APR on purchases: You might be thinking that this should definitely be a pro as it’s the most appealing part of the Iberia Vis Select Card offer, but there are a couple of problems with this low interest introductory term. First of all, this intro rate is available for 0-12 months depending on your credit standing, and I typically prefer to know exactly what I’m getting from my credit cards. This is especially true when there are cards out there that definitively offer 0% on purchases for 18 months (Citi Simplicity, Diamond Preferred, and Platinum Select). - $35 annual fee: When youre trying to save on interest you don’t want to waste money on an annual fee, especially when the cards with the longest 0% terms on the market don’t charge annual fees. - 1.99% - 7.5% intro rate on balance transfers: You already know how I feel about credit card terms expressed in range form, and you can get 0% on transfers for 15 months with the Slate Card from Chase. - 3% balance transfer fee: The Slate Card doesn’t charge any balance transfer fee either. So the Iberia Bank Visa Select Credit Card got 4 cons and 0 pros in my book. Needless to say there are better options out there, namely any of the 0% Citicards if you want to avoid interest on a purchase thatll take you a while to pay off and a No Balance Transfer Slate Card from Chase if you want to transfer a balance. If you want rewards, there are a number of good cards including the Chase Sapphire Preferred, Capital One Venture and Amex Blue Cash Preferred.
For some reason, Iberia Bank sounds like it’d be in the tundra somewhere. At any rate, this IberiaBank Visa Select Credit Card is one of the credit card offers only available to people with excellent credit, so why don’t we see whether it’s truly worthy of this requirement. The first thing you should notice about the IberiaBank Visa Select Card is that it charges a $35 annual fee. Now, this is not unuasual for credit cards for excellent credit, as better rewards or longer 0% introductory rates often necessitate paying a fee. It simply means that if this card does not offer exceptional rates or rewards, it obviously will not be worth applying for. Without further ado, the Iberia Bank Visa does not offer any rewards but does provide a 0% intro rate on purchases for up to 12 months and a 1.99% - 7.5% intro rate on balance transfers for 12 months. Considering that there are cards out there that offer 0% on both purchases and transfers for 21 months, the Iberia Bank Visa Select Card does not pass muster. Alternatives are therefore in order, and which are right for you depends on your objective. If you want rewards, two of my personal favorite cards are the Capital One Venture Card and the Chase Sapphire Preferred Card. If you want 0% on either new purchases or transfers, there are three Citicards (i.e. Simplicity, Diamond Preferred, and Platinum Select) that offer such rates for 21 months. If you want a card that offers rewards as well as a 0% rate on new purchases (so you can keep would be payments in the bank for longer and thereby earn rewards and the good kind of interest on new purchases), go with the Discover More Card. You will be able to qualify for any of these cards if you have excellent credit and all would be more beneficial to you than the Visa Select IberiaBank Credit Card.