First Credit

Iberiabank Visa Platinum Card Review

The Iberiabank Visa Platinum Card is aimed at people who wish to have a credit card that charges fairly low interest rates, but also offers rewards for purchases made.

Although the Iberiabank Visa Platinum Card doesn’t offer an introductory APR on purchases, the card issuer does offer an introductory balance transfer APR of just 1.99% for the first 6 billing cycles after a customer has signed up for the card. After that date the agreed upon interest rate will apply and this will vary according to a customer’s creditworthiness at the time of signing up.

The purchase APR will be 9.25%, 12.25% or 15.25%, depending on what Iberiabank will offer to a customer, after assessing his or her creditworthiness. For balance transfers this APR will be 9.25%, 12.25% or 15.25% after the initial introductory period is over.

There is also a balance transfer fee payable and that is charged at 2% of the transfer amount.

Rewards

The Iberiabank Visa Platinum Card offers 1 reward point for every dollar spent on qualifying purchases. Customers can earn up to a maximum of 17,000 points in the first year of signing up.

The reward bonus point program is offered through Scorecard and can be on travel accident insurance, travel emergency service or auto rental collision damage waiver for example. Customers need to go online and register for this scheme, where they will be able to check the collected points, see the latest reward schemes offered and even create wish lists for the future. Points can be redeemed online against various brand merchandise or travel arrangements.

There is a 24 hour helpline all year round and customers can even make their travel arrangements on this site. The scheme excludes major holidays, so you won’t be able to use it for your “around the world cruise”, but if you are a frequent traveller, then the points will soon add up to your advantage.

The ScoreMore program allows customers to earn bonus points at twice, three times, four times or more the rate via purchases made with participating retailers. This can be for purchases made in-store or online. Customers who choose this scheme for their rewards simply need to follow the link they are given and use the Scorecard website to find out who is a participating retailer. If you are a frequent traveller or use your card for specific purchases every month, then signing up to a reward card like the Iberiabank Visa Platinum Card can earn you a lot of points which can be redeemed against future purchases.

Other Charges

There is no annual fee to pay for this card, but late payment fees can be up to $35 for each time you are late with your payment. The cash advance fees are in line with other providers and are charged at 5%, with a minimum fee of $5 and a maximum fee of $100. Foreign transactions are charged at 2% of the transfer amount.

Iberiabank itself has won a number of awards for its card services and the Iberiabank Visa Platinum Card presents good value for the money. See also, Iberiabank's visa classic, visa gold, and visa select cards.