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Commerce Bank Secured Visa® Credit Card

Credit needed
Lack of History/ Little/ Poor
APR
18.24%
Annual Fee
$49

Card Summary

Commerce Bank Secured Visa Credit Card  is a secured card that helps people with poor credit or no credit to build, strengthen and rebuild their credit. To open an account, you will need to make a deposit.

The amount of your deposit is equal to the credit limit. It also earns interest in savings accounts.

Access to FICO Credit Scores, free credit reporting to all three bureaus, and no liability for fraud are available to cardholders.

Card Summary - Cons

Rates and fees

Issuer Name
Commerce Bank
Penalty APR
None
Credit Needed
Lack of History/ Little/ Poor
Balance Transfer Fee
None
Annual Fee
$49
Cash Advance Fee
None
APR
18.24%
Foreign Transaction Fee
Dollars 1% for every transaction made in the U.S. Dollars 22% for every transaction in U.S. dollars.
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Commerce Bank

The Best Features

Savings account for security deposits: The Commerce Bank Secured Visa Credit Card Card's security deposit is placed into a savings account that earns interest.

When you close your account or when you are ready to open an unsecure credit card account, the deposit and interest will be refunded.

A credit limit that can be very high: The Commerce Bank Secured Visa Credit Card Card offers credit limits of up to $400,000. The amount of your security deposit, your income and your ability to repay the credit line will determine your credit limit.

Access to FICO credit scores: Get free access every month to FICO credit scores. This allows you monitor and improve your credit score.

Rewards

Sign up bonus

APR Requirements

Drawbacks

Annual Fee: Commerce Bank Secured Visa Credit Card Card has an annual fee $49.

There are no rewards. While other secured cards might offer rewards programs, this Commerce Bank card doesn't.

Highlights

This card is a credit card and it can be used anywhere Visa is accepted.
To help you build credit, we report to each of the three credit bureaus.
You will have regular access to your FICO Score.
Lock your card.
Get text alerts.
Protect yourself against any liability.
Digital Wallet Technology.

Commerce Bank Secured Visa Credit Card Advantages: cardholders will enjoy the following benefits:

Access to your FICO credit scores monthly for free.
All three credit bureaus can report on your credit history.
No liability for fraud.

Benefits

Comparative Analysis with Other Cards

Commerce Bank Secured Visa Credit Card vs. Capital One Platinum Protected Credit Card

Annual Fee: Commerce Bank Secured Visa Credit Card Card Card holders will pay $49 for an annual fee. Annual fee for Capital One Platinum Secured Credit Card: $0.

Rewards: There is no rewards program with this card.

Sign up bonus: No card provides a sign up bonus.

Benefits: Commerce Bank Secured Visa Credit Card cardholders get free monthly FICO credit score access, credit reporting to all three bureaus, and zero fraud liability.

Cardholders of Capital One Platinum Secured credit card receive benefits such as emergency card services and fraud protection.

Commerce Bank Secured Visa Credit Card vs. The Discover it Secured credit card

Reward Programs: The Commerce Bank Secured Visa Credit Card Card does not offer any rewards. Discover it Secured credit card earns you 2% cashback at gas stations and restaurants on purchases up to $1,000 each quarter, and 1% cashback on any other purchases.

No sign-up bonuses: The cards do not offer a sign up bonus. The Discover it Secured credit card automatically matches any cash you earn in the first year for all new cardholders.

Benefits: The Commerce Bank Secured Credit Card card offers you free access to your FICO credit score, credit reporting at all three bureaus, and zero liability for any fraudulent activity.

Cardholders of the Discover It Secured Credit Card have many benefits, including free monthly FICO credit scores and overnight replacement cards. You can also freeze your account in case your card is stolen or lost.

Redeeming Rewards

Maximizing Rewards

Annual Fees

Conclusion

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No late fees. Reduced interest charges. Pay off

Commerce Bank