Today’s review is for Iberiabank Gold card, issued by Visa. This is one of the four Visa cards issued by Iberia bank, other three cards are Iberiabank Visa Classic, Iberiabank Visa Select and Iberiabank Visa Platinum.
A brief introduction of the issuer – Iberia bank
Iberiabank is based in Lafayette, Louisiana is a regional bank. In the 6 southern states of Louisiana it has 145 branches. It is having its branches in the states of: – Louisiana, Alabama, Florida, Arkansas, Tennessee, and Texas. It is a public listed bank.
Iberia Bank is a subsidiary of the Iberiabank Corporation which is a 125 years old company and has an US $100 M in asset.
Iberiabank visa Gold card features
- No annual membership fee
- Low variable rate of 9.25%, 12.25%, or 15.25% (Prime + 6.00%, Prime + 9.00%, or Prime + 12.00%) 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 less than $1.00).
- 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 be the same as your assigned purchase rate, based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
- Earn 1% in cash back credit on all qualifying purchases
- No limit on cash back; no expiration date on eligibility for accounts in good standing
- Travel accident coverage up to $500,000
- Online access to credit card account information
Verdict on Iberia bank Visa Gold Card
Pros – Clearly this card has one of the lowest APR rate in the industry, Additional insurance protection on top of that provided by Visa on their most cards.
This card offers $500,000 travel accident coverage. You also get travel emergency service, roadside assistance and auto rental collision damage waiver free of cost with this card.
Cons – Very low reward and excellent credit requirement to get a hand on this card are two major drawbacks.
Additionally Iberiabank requires your employment verification and income verification as well.You should be with your current employer for at least 6 months prior to applying for this card.
We feel this card is useful when you need money for short-term. Instead of opening a new line of credit or in the worst case, instead of lining up at the cash loan/pay-day loan type of borrowers, It’s always better to get cash advance on this cash.
The low APR stands out for this card and if you’re not after pinching pennies of rewards, go for this card. Apply Now! All Visa card member benefits are yours to keep any way!
Lastly, the best way to handle any credit card is by paying off debt in full every month if you have to pay interest on the remaining balance otherwise.
The features mentioned about this card may change without any notice. You are advised to read offer documents before applying for this card.
Readers, what’s your opinion about this card? If you are a Iberiabank visa gold card holder I urge you to leave your feedback in the comments section.
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