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Commerce Bank Secured Visa Review

The Commerce Bank Secured Visa® Credit Card is a secured credit card designed to help people with bad or no credit establish, strengthen or rebuild credit. It requires a security deposit to open the account, which must be at least $400 but can be up to $5,000. Your deposit will be equal to your credit limit and earn interest in a savings account. Cardholders get free FICO credit score access, credit reporting to all three bureaus and zero liability coverage for fraudulent activity. While this card offers access to credit, you’ll pay a $49 annual fee.

  • Issuer NameCommerce Bank
  • Credit NeededPoor/Limited/No History
  • Annual Fee$49
  • Regular APR22.74%
  • Foreign Transaction Fee1% of each transaction in U.S. Dollars
    2% of each transaction made in currencies other than U.S. Dollars

  • Need to build or rebuild your credit history.
  • Want a credit line up to $5,000 and can make a matching security deposit.
  • Would like to earn interest on your credit card security deposit.

The Commerce Bank Secured Visa® Credit Card is designed to help you build or rebuild credit, so it’s best when you use it this way. By making purchases within your budget and paying off your balance in full each month, you can build a positive credit history using this card. The security deposit also doubles as a savings account, earning interest while simultaneously setting your credit line amount. You can increase your credit line by adding more funds to your savings account in $100 increments.

If you pay for your monthly cellphone bill with the Commerce Bank Secured Visa® Credit Card, you’ll receive cellphone protection and can get reimbursed up to $200 for a damaged or stolen phone.

Editor’s Take

The Commerce Bank Secured Visa® Credit Card is good for short-term credit building. While it can give you access to credit and has the potential for a large credit line, the $49 annual fee isn’t a great feature for your long-term credit health. This card can help you establish a positive payment history, but another part of good credit is the length of your credit history. If the Commerce Bank Secured Visa® Credit Card is your oldest credit card, you’ll probably need to keep it open to maintain your credit history length – and pay $49 every year you hold on to the card. Other secured cards with no annual fee may be a better choice for long-term credit building.

Jessica MerrittContributor

There’s no welcome offer for the Commerce Bank Secured Visa® Credit Card.

The Commerce Bank Secured Visa® Credit Card doesn’t earn rewards.

U.S. News rates credit cards by analyzing factors including fees, interest rates and benefits, each weighed against their importance to determine an overall score for each credit card. Consumers can rely on these ratings to provide objective, accurate assessments of credit card choices.

Best in Credit Cards With No Foreign Transaction Fee

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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