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Last updated on March 8th, 2021
Arvest Bank Visa® Gold Card
0% Intro APR for 12 Months
- No annual fee
- 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: 15.4% variable based on the Prime Rate
- Intro Balance Transfer APR: 0% for the first 12 months
- Balance Transfer APR: 15.4% 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: 15.4% 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® Gold Card is a disappointing credit card that suffers when compared to its sibling, the Visa Platinum. The card features the same 05 intro APR period and Visa protections but lacks a competitive interest rate after that.
Ideal for Those Who:
- Currently bank with Arvest Bank and enjoy their service
- Plan on paying down an existing credit card balance
- Don’t want to pay an annual fee
Arvest Bank Visa® Gold Card Review
The Arvest Bank Visa Gold Card is a no annual fee card that offers no interest for the first year and a so-so APR after that. Arvest Bank is one of the oldest banks in the United States, dating back to 1871. The bank services customers in Arkansas, Kansas, Missouri, and Oklahoma.
One Year of 0% Intro APR
The Arvest Bank Gold Visa enjoys the same 0% intro APR on purchases and balance transfers as the Platinum Card. Both interest-free periods extend for the first 12 months of the account, making the card a decent option for those who have an existing balance they want to pay down, or someone thinking about financing a large purchase.
An Uninspiring Normal APR
If the APR on purchases, balance transfers, and cash advances with the Visa Platinum Card are average, they’re disappointing with the Arvest Bank Visa Gold. The rate is nearly 17%, which is significantly higher than the rate with the Platinum. And while the Platinum Card is geared towards those with excellent credit scores, even those with good credit scores can find better value elsewhere.
The average low APR for a good credit score is currently around 15.75%, over a full percentage point lower than the Arvest Bank Visa Gold. Sure, there are plenty of cards that have a higher APR than the Arvest Gold, but there are plenty that is lower, as well. This list includes many credit unions cards and offers from smaller banks.
Arvest Flex Rewards
All credit cards from Arvest Bank are eligible to join the Arvest Bank Flex Rewards Program (though this in an option and not a requirement).
Joining the program is free, with no annual fee. Cardholders earn one point for every dollar spent, with thw point total of each purchase rounded to the nearest dollar.
Points in the Flex Rewards program expire after three years. If the Arvest Bank credit card account closes, the account holder has 120 days to redeem their points. Redemption award options include cash back, statement credits, or travel.
Other Card Features
Other notable features with the Arvest Visa Gold Card include a 25-day grace period on purchases and higher-than-average credit limits. The grace period is particularly useful. That’s because it allows cardholders breathing space to repay their purchases without worrying about late fees or a penalty APR.
The card also features the typical Visa credit card perks, which include:
- Worldwide acceptance
- $300,000 travel accident insurance coverage
- Visa warranty manager
- Visa Auto rental collision damage waiver
- Travel and emergency services
- Emergency card replacement and cash disbursement.
Should You Apply for the Arvest Bank Visa® Gold Card?
The Arvest Bank Visa Gold Card is a disappointing credit card that likely only appeals to current Arvest Bank customers. While 12 months of 0% APR on purchases and balance transfers is great, this benefit only works well for those who can afford to pay down existing balance within this one-year timeframe. For everyone else, they’ll need to carefully consider how much they can afford to pay down – and whether the card offers better value than other options.
For those with fair or good credit scores, other options exist. These include the BOK Financial Visa Platinum. That card, from Oklahoma-based issuer Bank of Oklahoma, offers 18 months of 0% intro APR and an introductory APR almost four-points lower than Arvest Gold. Sure, the Arvest Platinum is a better competitor to the BOK Card. But as the BOK Card is open to those with average credit scores, the comparisons are justified.
Overall, the Arvest Bank Visa Gold Card is a lackluster offer that will probably only appeal to those who can’t qualify for the Visa Platinum. As a stepping stone, however, it does its job well.