Tabular Red Rewards Visa

The Tabular Red Rewards Visa 12 15 22 filing from Simmons Bank sets out a purchase APR of 16.5%–24.5%, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 59th percentile of the 4,587 agreements indexed here.

The disclosed terms

Simmons Bank submitted the terms for Tabular Red Rewards Visa 12 15 22 to the CFPB's agreement database; this is what they contain. The filing runs four pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a grace period are not stated.

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.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 24.5%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $555 a year on $2,000.

The promotional window is therefore worth something on the order of $555 on $2,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

Purchases price between 16.5% and 24.5% under this filing. The 8-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 41st percentile and the high end around the 59th — the band straddles a wide stretch of the market this corpus describes.

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.

Translating the rate into money

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $694.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $79 more annually for the identical balance.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Where the fees are

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $4 or 3% of the advance, whichever is greater and a cash advance APR of 20.5%. 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 16.5% balance transfer rate without an accompanying fee figure.

Foreign transactions attract 2%. On $5,000 of overseas spending that is $100, charged on top of whatever exchange rate applies.

Default pricing

$39 is the disclosed ceiling on a late payment fee, placing it near the 63rd percentile of the set.

How it sits in the issuer's own range

Simmons Bank has 124 agreements indexed on this site. The issuer's own range is 18.25%–28.24%. At 24.5%, this agreement is dearer than 55 of its siblings.

On fees, 114 of the 118 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What is outside the disclosure

Absent from the captured terms: a grace period and penalty pricing. The original document is the place to look for any of these.

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, four pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The pricing here is middling by the standards of the index — 24.5% on purchases is near enough to typical. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.