Serving the Lafayette, Monroe, New Orleans and Lake Charles area, Iberia Bank is a historic financial institution of 126 years – making it the largest bank with roots in the state and the oldest. If you’re a customer of Iberia Bank, there are plenty of options when you want to sign up for a credit card like the Iberia Bank Iberia Bank Visa Platinum. The different accounts include:
- Visa Classic
- Visa Platinum
- Visa Select
- Visa Gold
When shopping around for a credit card, there are a few things you want to look out for – the annual fee, interest rate and any of the small print. Depending on the rewards offered through credit cards, annual fees can range anywhere from $0 to $99 or more! If you don’t plan to use the rewards very often, it might not make sense to sign up for a card that requires an annual fee. That being said, in some cases even a substantial annual fee is made up for in credit card rewards and benefits.
Rates for the Iberia Bank Visa Platinum
The Iberia Bank Iberia Bank Visa Platinum credit card is one of those cards that does not require an annual fee. This is a great option for someone new to using credit cards, or when you want to have an account available in case of emergency.
Another benefit of the Iberia Bank Iberia Bank Visa Platinum credit card are the great low interest rates. While the rates you get are based upon your credit score, they are still substantially low compared to other Visa credit cards. The Annual Percentage Rate, or APR, for the credit card ranges from:
- 9.25 percent
- 12.25 percent
- 15.25 percent
You will see that these interest rates are lower than other cards, which often range from 9 percent up to 20 percent. Combining the low interest rates with no annual fee and the Iberia Bank Iberia Bank Visa Platinum is definitely one that you should consider when shopping around with credit card accounts.
Aside from the annual percentage rate, you should be aware of other rates associated with the Iberia Bank Iberia Bank Visa Platinum and the available services. Balance transfers are extremely useful if you want to transfer a balance from a high interest card to one that has lower interest – but always check the fine print before you do a balance because introductory rates are eye-catching and don’t always last. The introductory rate for the Iberia Bank Iberia Bank Visa Platinum is 1.99% — a phenomenal rate – but it only last for the first six months after the transfer. After that, your rates go up to your assigned APR – which is still great if you are transferring from a higher interest rate than what you are offered through Iberia Bank.
Another feature utilized by credit card users is the cash advance – something you might always want to have access to in the case of an emergency. Unlike the balance transfer, there are separate APR rates associated with the cash advance and whichever one you get is based on your credit rating. Options include 14.75 percent, 18.25 percent and 21.25 percent. While these rates are a bit higher than the APR, they are still average in terms of interest and when you need money in an emergency, these are at least manageable rates. Where people get into trouble is living beyond their means – racking up purchases on the credit card in addition to taking out cash advances.
Iberia Bank Visa Platinum Fees
As with any credit card, there are some common fees associated with the Iberia Bank Iberia Bank Visa Platinum account including:
- Balance Transfers
- Cash Advances
- Penalty Fees
If you wish to make a balance transfer, the fee is nominal at 2 percent, as is the foreign transaction fee. The cash advance fee for the Iberia Bank Iberia Bank Visa Platinum is also fairly standard and one you will see with countless other credit cards – 5 percent of the transfer amount of $5, whichever is greater. No matter how much you need in cash, there is a maximum fee of $100 – so the balance would need to be pretty large to hit that maximum fee.
Rewards for Iberia Bank Iberia Bank Visa Platinum card
The rewards system for the Iberia Bank Iberia Bank Visa Platinum is fairly straightforward and easy to remember – you earn one point for every dollar spent in a qualified purchase. Once you earn enough points, you can redeem them with various travel, events, merchandise or benefits offered through Iberia Bank. One feature of the credit card is the chance to earn bonus points when you use the credit card at selected retailers – these ScoreMore points offer anywhere from two, three or four times the reward bonus points when you check out the website and shop at the provided retailers. Always read the small print – some retailers require you to shop online or in the store, so always know what is required of you in order to obtain the most benefit.
Benefits of the Iberia Bank Iberia Bank Visa Platinum
If you are going to sign up for a credit card, doing so with a major institution such as Visa is an ideal way to go because it’s accepted everywhere across the globe – making it easy to purchase things at home or abroad on vacation. Other benefits provided to Iberia Bank Iberia Bank Visa Platinum credit card users is efficient and free access to your online account at any time. Keep an eye on your account frequently to ensure no fraudulent charges are being made – especially in light of the credit card breaches we hear in the news on a constant basis.
That being said, the Iberia Bank Iberia Bank Visa Platinum is a protected card offers Verified by Visa, which helps to protect you from unauthorized charges when you shop online. If you are looking for a user-friendly card and you live in the Louisiana area, this is a great option and is fairly accommodating with the interest rates and fees – low interest and no annual fees are sure to capture the eyes of countless credit card users.