IBERIABANK Visa® Platinum Card

 Can I transfer all my balances to the new card for one payment and still keep the other accounts open?

I applied for an Iberiabank card because I wanted low interest over anything and they reported as low as 7.50%. It was a couple days before I heard back from them and they needed additional information to complete my application (which they told me via phone, email & mail). I had to mail/fax them verification of my phone number, address and employment/income. Once I did that a couple days later I received a phone call and when I returned the call and left a message they never called me back. Two weeks after I faxed my information I received the acceptance letter in the mail. With a credit score of 770 (as reported by Credit Karma) I was approved for a card (not the platinum card) with an APR of 10.25% (prime +7%), 2% fee on balance transfers and a 1.99% APR on Balance Transfers for 6 months. The 10.25% is great for me since the card I used to have around that APR is now 17% and another that used to be around 17% is now 27% for NO reason other than credit card companies inflating APRs! Since I just got it, I can't report on how it is to use them, but can report the facts on being approved for the card. If I had a lower Credit Score I'd probably have been accepted at a higher APR. My average age of credit is only 3 years as I am in my 20s. Also, I just signed up for the online account access and they use a 3rd party website which is very rudimentary and no-frills if that's something that is important to you.

When Iberia says "perfect credit" what they mean is a CLEAN report.

That means not a single late payment showing on any tradeline, zero collections, zero public records, nothing in IIB, no BKs in the past, and ideally---zero or one hard inquiries on each of the 3 credit reports and low utilization (below 25% on any account).

I'd also avoid them if you don't have a thick file (i.e. new to credit; younger than age 26).


Not many folks meet this criteria, so unless you do--don't waste a hard inquiry on these people.

Hi All,
I have a question, if my credit score it 719 would I be able to get approved for the credit card CreditOkarma is offering? cause like other said on their comments, If I am not going to get approved then I dont want it on my record in order words whats the point. thanks

Thank you for all of you comments! i was going to apply - based on creditkarma's recommmendation - but if it is just to set me up for rejection (based on PERECTcredit!) then why bother? I also don't want another "hit" on my credit record!
THnaks- MJ