Commerce Bank Secured Visa® Card

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Last updated on November 4th, 2021

Commerce Bank Secured Visa® Card

Commerce Bank Secured Visa® Card
  • Regular Purchase APR 18.49% variable based on the Prime Rate
  • Balance Transfer APR 18.24% variable based on the Prime Rate
  • Cash Advance APR 25.49% variable based on the Prime Rate
  • Annual Fee $49
  • Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.
    Poor , No Credit Required
  • Processing Network Visa
Best Benefits
  • Help establish, strengthen or rebuild credit
  • Enjoy regular access to your FICO score
  • Worldwide acceptance
  • Earn interst in your security deposit
Rates & Fees
  • Regular Purchase APR: 18.49% variable based on the Prime Rate
  • Balance Transfer APR: 18.24% variable based on the Prime Rate
  • Cash Advance APR: 25.49% variable based on the Prime Rate
  • Annual Fee: $49
  • Foreign Transaction Fee: 1% of each transaction in U.S. dollars; 2% of each transaction made in currencies other than U.S. dollars
  • Late Payment Penalty Fee: Up to $15
  • Return Payment Penalty Fee: $25
  • Minimum Deposit Required: $400
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Commerce Bank Secured Visa® Card

Commerce Bank Secured Visa® Card

Terms & Conditions

At a Glance

The Commerce Bank Secured Visa® Card is a basic secured credit card from Commerce Bank. The card helps holders improve their credit score with smart use and regular payments, hopefully leading to a future upgrade to an unsecured rewards credit card. Commerce Bank reports to the three major credit bureaus and offers complimentary access to the account holder’s FICO® score each month. The card requires a minimum deposit of $400 and features an annual fee of $49 and no hidden fees.

Ideal for Those Who:

  • Are looking to rebuild your credit
  • Want monthly access to your FICO® score
  • Want to earn interest on your security deposit

Commerce Bank Secured Visa® Card Review

The Commerce Bank Secured Visa® Card is a basic-yet-effective secured credit card from Commerce Bank. The card is designed for those with either a damaged credit score or no credit history of which to speak. Like other secured cards, the Commerce Secured Visa works by using a security deposit as collateral for a line of credit. The amount deposited equals the line of credit available to the applicant, in this case between $400 and $5,000.

Build Credit with Regular Payments and Responsible Use

Since the primary goal of the Commerce Bank Secured Visa® Card is to improve a credit score, the card offers complimentary access to the account holder’s FICO® credit score every month, allowing them to chart their progress, providing they stick to a sensible spending pattern and pay their entire balance in full each month.

Since Commerce Bank reports to all three of the major credit bureaus, being financially responsible with this card is a great way to not only boost a credit score but also advance to an unsecured card in the future.

Related Article: What Are the Easiest Credit Cards for Bad Credit to Get?

While having to make a deposit to secure a line of credit isn’t ideal, the Commerce Bank Secured Visa® takes some of the worries out of the process by letting account holders earn interest on their security while their account is open. This feature means that not only can someone build credit, but they can put a little change in their pocket once they close their account, too.

Visa Purchase and Travel Protections

As with other Commerce Bank Visa credit card products, the Commerce Bank Secured Visa® Card benefits from the global purchasing power of the Visa name, meaning cardholders can expect near-universal acceptance – no matter where their journeys take them. Holders are also protected by Visa’s zero liability coverage, as well as fraud and purchase protections.

Using the card abroad also comes with the benefit of a modest foreign transaction fee. The fee with the Commerce Secured Visa is 1% of each transaction in U.S. Dollars, or 2% of each transaction made in currencies other than U.S. Dollars. It’s not no foreign transaction fee, but it is lower than the typical 3% found with many other secured cards.

Should You Apply for the Commerce Bank Secured Visa® Card?

Overall, the Commerce Bank Secured Visa® is a decent secured card, though it does suffer from its $49 annual fee. While there are other secured cards out there that don’t charge an annual fee – particularly the Discover It Secured Card – for customers who already bank with Commerce, this is a good card for getting back on your financial feet.

For more information on secured credit cards, visit our Comprehensive Secured Card Reference Page, featuring the best-secured card offers, detailed advice, and tips to help you build your credit history.

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