IberiaBank Visa® Classic Card

Our Rating: Intro APR: 1.99% Intro Period: 6 Months Annual Fee: $0 Setup Fee: $0 APR: 7.25%, 10.25%, or 13.25%* Terms and Conditions

Key Features No Annual Membership Fee Low variable rate of 7.25%, 10.25%, or 13.25% (Prime + 4.00%, Prime + 7.00%, or Prime + 10.00%) as of 4/1/10 based on the creditworthiness. This APR will vary with the market based on the Prime Rate. (If there is an interest charge, the charge will be no Low Introductory APR on balance transfers of 1.99% for your first 6 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will Online Access to Credit Card Account Information APPLY NOW

Ever hear of the term ‘simplify?’ Ever wish you had a credit card that is simple and easy to use without a lot of hype and high-pressure? Enter the IberiaBank Visa Classic Card. This card is ideal for those who have good credit and do not want the added and extra features that accompany a rewards card or other detail laden programs. If you need to occasionally carry a balance, then this card is right for you.

The advantages of this card include the competitive interest rate which applies to balances attributable to purchases. There is a 0% APR for balance transfers for 6 billing periods from the posting date of the transfer check. Also among the best is the variable APR for cash advances and convenience checks.

You have 25 days to repay your balance for purchases before a finance charge on purchases is imposed. The grace period is 25 days and if the balance is not paid in full within this time frame, a finance charge will apply to both the balance remaining (including current billing cycle transactions) and to all transactions during succeeding billing cycles until the new balance is paid in full. While this is in the normal range for a credit card in this class, you need to make it a priority to pay off your balance in the 25 day grace period in order to avoid these charges.

The rest of the features are standard fare for a card such as this: No annual fees, minimum finance charge of $1.00, no transaction fee for purchases, but there is a transaction fee for cash advances in the form of 5% of the amount of the advance, but not less than $5.00 and not more than $100.00. You also get online account access and standard lost or stolen card services as well.

The IberiaBank Visa Classic Card is a great tool to use for those who need basics and not much else.

Review Date: 12/19/2008