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IberiaBank Visa Classic Card

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Highlights

  • Low variable rate of 7.25%, 10.25%, or 13.25% based on your credit worthiness.
  • Low Introductory APR on balance transfers of 1.99% for your first 6 billing cycles.
  • 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.

Rates & Terms

Purchase Intro APR Regular APR Annual Fee Balance Transfer Period
N/A 7.25%, 10.25%, 13.25%, based on creditworthiness. $0 Intro APR for six billing periods from the date of the balance transfer check. After that, your APR will be the same as your assigned purchase rate, based on creditworthiness.
  • Purchase Intro Period: N/A
  • Balance Transfer Intro Rate: 1.99%
  • Balance Transfer Rate: 7.25%, 10.25%, 13.25%, based on creditworthiness.
  • Cash Advance Rate: 12.75%, 16.25% or 19.25% based on your creditworthiness.
  • Late Fee: Up to $35
  • Cash advance Fee: Either $5 or 5% of the amount of each transfer, whichever is greater (maximum fee: $100)
  • Balance Transfer Fee: 2% of the transfer amount
  • Cash Advance Minimum: N/A
  • Balance Transfer Minimum: N/A
  • Credit Profile: Excellent Credit Score

IberiaBank Visa Classic Card Review

The IberiaBank Visa Classic Card is very straightforward - there are no complex reward systems here - just a competitively low interest rates for those individuals who know they will be carrying a balance between billing periods.  Although many banks offer 0% introductory financing on balance transfers for six months or more, Iberia uses a slightly different formula: 1.99% APR for six months plus a 2% balance transfer fee. For some people, this math might work out more favorably than the popular offer of a limited time 0% APR coupled with a 3% balance transfer fee.