Tabular Simmons Visa

Tabular Simmons Visa 12 19 24, as filed by Simmons Bank, carries a purchase APR of 14.5%–22.5%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 52nd percentile across this corpus of 4,587 filings.

What this filing discloses

Simmons Bank submitted the terms for Tabular Simmons Visa 12 19 24 to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs three pages.

On the record here: 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.

Zero percent, and then what

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

What matters more than the promotion is the rate waiting behind it: 22.5%. A $2,000 balance that survives the promotional window costs roughly $504 a year from that point on.

Put the other way round, the 12-month zero rate is worth roughly $504 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

The purchase APR is quoted as a range of 14.5% to 22.5%. That 8-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 30th percentile at the bottom and the 52nd at the top.

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 $504 in interest.

On a median-priced agreement from this index (21.99%) the same $2,000 would run about $492 a year, so this card costs in the region of $13 more annually for the identical balance.

Per statement cycle that is on the order of $37.32 on $2,000, which is the number that actually shows up on a bill.

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

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.

Cash advances carry a cash advance fee of $4 or 3% of the advance, whichever is greater and a cash advance APR of 18.5%. The two halves of that fee cross at about $133: below it the flat $4 applies, above it the percentage does. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 14.5%; no separate transfer fee was captured from the filing.

The filing sets a 2% foreign transaction fee, which adds roughly $40 to $2,000 spent outside the United States.

Default pricing

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.

What you cannot learn from the filing

Absent from the captured terms: 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.

Inside Simmons Bank's filed lineup

This is one of 124 Simmons Bank agreements collected here. Across that lineup purchase rates span 18.25% to 28.24%; this filing's 22.5% sits above 22 of the comparable ones.

Reading the agreement yourself

The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

22.5% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.