Review: Commerce Bank Credit Cards

Commerce Bank, with locations mainly in Missouri and bordering states, offers a handful of credit cards that are just fine, though you can find better options on the market for just about any of their offerings. Below we offer an overview / review of each card, along with ideas on how to compare these cards with other relevant options:

  • The Special Connections Visa or Mastercard is a cash back/rewards credit card that offers you 3% cash back on wireless services and ride sharing services, 2% on gas and restaurant purchases, and 1% everywhere else. The cash rebates you receive come in the form of a statement credit, or you also have the option to use your rewards toward gift cards, travel rewards, merchandise, etc. This a decent cash back credit card, especially with the 3% cash-back categories of wireless and ride-sharing, which are not common bonus categories with other rewards credit cards. You can compare this card to its competitors on our Cash Back Credit Cards page to see if you can do better.
  • The Commerce Bank Toggle Visa is essentially the same card as the Special Connections card listed above in terms of rewards, but it also allows you to use the card as either a credit card or debit card (sort of). You can choose to designate certain purchases as “pay now” from a linked checking account and designate others as “pay later” if you want to revolve those balances.
  • The Commerce Bank Visa Signature offers a simple cash-back formula — you get a 1.5% rebate on everything you purchase with the card. Also promises “premium travel offers” and concierge services, though these benefits are a bit vague.
  • The Commerce Bank World Elite Mastercard is different from the cards above in several ways, the first being that it has an annual fee of $95. While the $95 fee may be difficult to justify for most people, big card spenders might love it. First off, it gives you 3% cash back on travel and restaurant purchases, and 1.5% back everywhere else, which is nice but not extraordinary. What is extraordinary, though, is this: If you use the card for at least $50,000 in purchases during the calendar year, you will get a bonus “dividend” of 5% of the amount of your yearly purchases. At a $50,000 spend, that would be an extra $2500 on top of the $1000 or so dollars you probably already earned in cash back during that year. Using those assumptions, you’d get about $3400 in rewards after subtracting the annual fee, which works out to about a 6.8% rebate overall! That’s an amazing reward! But you’ll have to be someone who can spend an awful lot in order to get it.
  • The Commerce Bank Secured Visa is a credit card aimed at those trying to build or rebuild their credit, maybe because of past credit problems or maybe because they are trying to get credit for the first time. A secured credit card requires you to put down a security deposit as collateral, then you get a credit line equal to the amount of your deposit. So, if you want to have $1000 in credit, you put $1000 into the collateral savings account. However, you still make your credit card payment just like any other credit card — your payment is NOT taken from your initial deposit unless you fail to pay. As long as you make payments on time and in full, you start to build a good credit history. At some point, once your credit score has improved, you can get your security deposit back and get a standard, unsecured credit card. This card does have a $49 annual fee that is not part of the collateral deposit, which is a little high for a secured card.