Woman using Secured Visa on mobile
Commerce Bank
Secured Credit Card
Commerce Bank
Secured Visa®
Build credit or rebuild your credit score, while gaining new purchasing power, with the Commerce Bank Secured Visa® credit card. By purchasing necessities with your secured credit card each month — such as groceries, utilities or fuel — and making responsible monthly payments, you’ll be on your way to
establishing your credit-building journey. Find a branch near you and apply today.
Build, rebuild or strengthen your credit.
Whether you want to begin establishing a strong credit history, or need to mend your credit score, we help you focus on what matters most.
Additional Benefits of the Commerce Bank Secured Visa®
It’s a real credit card, and can be used worldwide, wherever Visa® is accepted.
We report to all three credit bureaus to help build your credit history.
Enjoy regular access to your FICO score.1
Enjoy a low, variable APR of just 23.49% on all purchases and balance transfers made on your Commerce Bank Secured Visa® credit card, with a $49 annual fee.
Frequently Asked Questions
What is a secured credit card?
In its simplest form, a secured credit card is a credit-building financial tool. Designed as the perfect starting foundation or reset opportunity to help you establish, rebuild or strengthen your credit score, a secured credit card does just that. It’s a real Visa® credit card and can be used worldwide wherever Visa® is accepted. The credit line for a secured credit card matches the amount you deposit for the required refundable security deposit2 (minimum $400).
How is a secured credit card different from a prepaid card?
A secured credit card differs from a prepaid card in that the balance deposited cannot be drawn against to pay for purchases made using the card. Rather, the security deposit amount funds the amount equal to your revolving credit line and a minimum payment is due each month to reduce or pay off the balance in full (if a balance exists). The prepaid card does not offer credit reporting; whereas, a primary benefit of the Commerce Bank Secured Visa® credit card is that your payment activity is reported to all three major credit bureaus. This helps to build or improve your credit — with on-time monthly payments and responsible use.
How does the Commerce Bank Secured Visa® credit card work?
Once approved, a refundable security deposit2 (minimum of $400) is required to open your new secured credit card account; this security deposit will be held in an FDIC-insured Secured Savings Account, will earn interest and will fund the amount equal to your credit line. Please allow up to three (3) weeks to receive your new Commerce Bank Secured Visa® by mail. A minimum payment on the account each month is required, if a balance exists. The security deposit cannot be used toward payment on the account. To avoid paying interest, pay your account in full each month.
We regularly report your payment activity and card status to all three major credit bureaus. So, with responsible use, you may start seeing your credit score improve. The $49 annual fee is charged to the credit card and will be assessed annually. When you close your secured credit card account, the Secured Savings Account will also be closed and your security deposit will be completely refunded if the balance is paid in full.
We regularly report your payment activity and card status to all three major credit bureaus. So, with responsible use, you may start seeing your credit score improve. The $49 annual fee is charged to the credit card and will be assessed annually. When you close your secured credit card account, the Secured Savings Account will also be closed and your security deposit will be completely refunded if the balance is paid in full.
Can I make additional deposits to increase my credit line?
Yes! By depositing additional funds into your Secured Savings Account, you can increase your credit line in increments of $100. As soon as the newly deposited funds post to your Secured Savings Account, you may begin utilizing your increased credit line. Once deposited, funds from your Secured Savings Account cannot be withdrawn to reduce the credit line. To withdraw these funds, the Secured Savings Account must be closed — which will result in the closing of the secured credit card — and your security deposit will be returned once the balance is fully paid.
Commerce Bank Secured Visa® Features:
Strengthen your
financial journey today.
Cell Phone Protection Visa® Benefit
Have peace of mind with complimentary, built-in Cell Phone Protection — up to $200 per claim.
Disclaimers:
- FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.
- A minimum refundable security deposit of $400 (max $5,000) into a Secured Credit Card Savings Account is required to open this Account. Your credit limit will be determined by the amount of the security deposit you provide, your income and your ability to pay the credit line established. You will earn interest on the collected balance in your Secured Credit Card Savings Account.
- Customer must notify Commerce Bank within 60 days of receiving statement with unauthorized account activity.
