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Last updated on March 8th, 2021
Arvest Bank Visa® Classic Card
0% Intro APR for 12 Months on Purchases & Balance Transfers
- No annual fee
- 0% introductory APR on purchases and balance transfers
- 25-day grace period on purchases
- Enroll in Arvest Flex Rewards at no additional cost
- Intro Purchase APR: 0% for the first 12 months
- Regular Purchase APR: 19.4% variable based on the Prime Rate
- Intro Balance Transfer APR: 0% for the first 12 months
- Balance Transfer APR: 19.4% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 19.4% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $4 or 4% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 1% of each transaction in U.S. dollars
- Late Payment Penalty Fee: $20
- Return Payment Penalty Fee: $25
At a Glance
The Arvest Bank Visa® Classic Card offers exceptional value to those with average credit scores. The no annual fee card comes with no interest for the first year and a fixed-rate APR after that.
Ideal for Those Who:
- Have average credit and an existing credit card balance they want to pay down
- Want a card that offers basic rewards points and prefers cash back
- Will make use of the 25-day grace period on payments
- Don’t want to pay an annual fee
Arvest Bank Visa® Classic Card Review
The Arvest Bank Visa Classic Card is a straightforward credit card that offers the purchasing power of Visa and the benefits of Arvest Flex Rewards in one basic package. The card offers many of the same features of other Arvest Bank credit cards, but with much more accessibility to those with less-than-perfect credit scores.
Where Is Arvest Bank?
Arvest Bank has its headquarters in Arkansas, with its history in that state dating back to 1871. Beyond the borders of the “Land of opportunity,” the bank also services customers in Kansas, Missouri, and Oklahoma.
Special 0% Intro APR
As with other Arvest Bank cards, the Arvest Bank Visa Classic Card comes with no interest for the first 12 months. And, as with the others, that special 0% intro APR applies to both balance transfers and purchases.
A Good, Fixed-Rate APR
Once the 12-month, 0% APR period ends, the card enjoys a fixed-rate of around 21%. Normally, an APR above 20% would be cause for concern, but given the broader appeal of the Visa Classic, it is quite a nice rate. The typical APR for someone with a fair credit score is around 25%, which is very high. The fact that the Arvest Bank Visa Classic reduced this by almost four percentage points is impressive.
The Ideal Balance Transfer Card for Fair Credit Scores
Balance transfer credit cards typically offer the best value if:
- Their 0% introductory APR period is lengthy, or
- The typical APR after the initial period ends is highly competitive
The Arvest Banks Visa Classic fits into both categories, especially given the credit score requirements. Those who struggle to get a credit card with any introductory bonuses can use the card to pay down existing credit card balances, making it an ideal balance transfer card for those with existing credit card debts they want to erase.
Arvest Flex Rewards
All credit cards from Arvest Bank are eligible to join the Arvest Bank Flex Rewards Program. The program is entirely voluntary, letting cashiers decide if they want the simplicity of a basic credit card or the bonus of reward points. While opting-in is the best value, it’s still nice to have the option.
Joining the program is free, with no fees for membership. Cardholders earn 1X points on eligible purchases, with points expiring after three years. If the account closes, the account holder has 120 days to redeem their points. Redemption award options include cash back, statement credits, or travel.
While Flex Rewards isn’t going to compete with loyalty programs from major issuers, the option of cash back or statement credits is enticing. This is undoubtedly the case for those who plan to take advantage of the 0% intro APR on balance transfers. Having the ability to earn cash back with every purchase is a great incentive to not only use the card but to make the most out of those rewards as well.
Other Card Features
Other notable features with the Arvest Visa® Classic Card include a 25-day grace period on purchases and higher-than-average credit limits. The grace period is particularly useful, as it allows cardholders an element of breathing space to repay their purchases without having to worry about late fees or a penalty APR.
The card also features the typical Visa® credit card perks, which include:
- Worldwide acceptance
- $200,000 travel accident insurance coverage
- Visa warranty manager
- Auto rental collision damage waiver
- Visa travel and emergency services
- Emergency card replacement
- Emergency cash disbursement.
Should You Apply for the Arvest Bank Visa® Classic Card?
The Arvest Bank Visa Classic Card is something of a unique offering. The card offers a lengthy 0% intro APR period on both balance transfers and purchases. This is something that generally doesn’t come with a starter card for those with average credit. The Capital One Platinum, for example, doesn’t offer any intro bonuses. That card also features a normal interest rate of almost 5% higher than the Arvest Classic.
This combination of a lengthy interest-free bonus period and a competitive APR after that makes the card a robust financial tool for those who struggle to find ways of paying down their existing balances from other lenders.
The addition of Flex Rewards is another pleasant perk. While 1X points aren’t spectacular, it is something not many cards for a fair credit offer. And, while the Flex Rewards program isn’t as lucrative as Chase Ultimate Rewards, for example, redeeming points for cash back is another impressive feature that can help those with balances they need to pay down.
Overall, there isn’t much not to like about the Arvest Bank Visa Classic. The card offers the purchasing power of Visa, a decent APR, and an introductory interest-free period that is rarely seen in a basic credit card. For existing Arvest Bank customers, or those within their service area, this is a card that offers excellent value for its no annual fee.