Commerce Bank Secured Visa Credit Card Pricing Information

Pricing in Commerce Bank's Commerce Bank Secured Visa Credit Card Pricing Information agreement is expressed relative to the Prime Rate. This review treats those figures as margins, which is what they are, and compares the fee terms that can be compared.

The disclosed terms

This page covers the agreement Commerce Bank filed for Commerce Bank Secured Visa Credit Card Pricing Information. The filing runs one page, and It is issued on the Visa network.

Terms captured from the document include an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a purchase rate, a cash advance rate and a balance transfer rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Priced off the Prime Rate

What this agreement discloses is a set of margins added to the Prime Rate. Until Prime is supplied, none of these figures is an APR, and this page will not treat them as one.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

What a missed payment costs

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The fee structure

$49 a year is the disclosed annual fee, which ranks near the 87th percentile of the fees filed across this corpus.

Spending abroad costs an extra 2% — about $30 on $1,500 of purchases, independent of interest.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

The $2.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Against the rest of Commerce Bank's filings

There are 165 filings from Commerce Bank in this index.

Among the issuer's other filings that disclose a fee, 0 of 2 come in below this card's $49.

What the filing does not tell you

This page cannot tell you a purchase rate and penalty pricing, because the filing's disclosure table as read does not contain them.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

Everything here is a reading of the filed agreement, one page of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.