Commerce Bank Rewards Credit Card Review
Author: scarymary
Posted: Mon Oct 17, 2005 2:32 pm
Post subject: Commerce Bank Rewards Credit Card Review
These terms are from the Commerce Bank Visa Rewards Card... There must be a typo in the fees section. (I cut and pasted this from their site so I apologize in advance if this doesn't post properly).
IMPORTANT INFORMATION ABOUT THE COMMERCE BANK VISA® CARD
Annual Percentage Rate (APR) For Purchases 2.99% UNTIL THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, AFTER THAT, 10.74%*
Other APRs BALANCE TRANSFER APR: 2.99% UNTIL THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, AFTER THAT 10.74%*
CASH ADVANCE APR: 14.74%
Variable Rate -Information YOUR APR MAY VARY. AT THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, THE RATE FOR PURCHASE AND BALANCE TRANSFERS IS DETERMINED MONTHLY BY ADDING 3.99% TO THE PRIME RATE**
YOUR APR FOR CASH ADVANCES IS DETERMINED MONTHLY BY ADDING 7.99% TO THE PRIME RATE**
Grace Period For Repayment of Balances for Purchases YOU HAVE NOT LESS THAN 25 DAYS***
Method of Computing the Balance for Purchases AVERAGE DAILY BALANCE (EXCLUDING NEW PURCHASES)
Annual Fees NONE
Minimum Finance Charge $.50
Transaction Fee for Cash Advances: NONE Balance Transfer Fee: NONE
Late Payment Fee: NONE Over-the-Credit-Limit Fee: NONE * Introductory fixed 2.99% APR for purchases and balance transfers during the first six billing cycles of card membership; after that, variable APR for purchases and balance transfers is the Prime Rate** plus 3.99% (10.74% as of 9/20/05) on the entire outstanding balance.
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** The Prime Rate means the highest prime rate published in The Wall Street Journal on the day the rate is determined (or the previous day on which The Wall Street Journal was published if the paper is not published on that day). The date the rate is determined is the first day of each month. Any increase or decrease in the Prime Rate will result in an increase or decrease in your monthly periodic rate and corresponding APR. These changes will be applied, as applicable, to your existing account balance and to subsequent transactions effective as of the first day of the billing cycle immediately following the month in which we calculate the rate. Variable rates accurate through 9/20/05.
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*** You have not less than 25 days to repay the entire previous purchase balance before being charged a finance charge. If the purchase balance is not paid in full on or before the due date, finance charges will be assessed on the posting date of purchases made previously. The grace period is the same for balance transfers. The grace period does not apply to cash advances.
The terms (including rates) stated in these disclosures are subject to change.
Notice to New York Residents: A consumer credit report may be requested in connection with your application or in connection with updates, renewals or extensions of any credit granted as a result of your application. Upon your request, you will be informed whether or not such a report was requested and, if so, the name and address of the agency that furnished the report. New York residents may contact the New York State Banking Department to obtain a comprehensive listing of credit card rates, fees and grace periods. New York State Banking Department: 1-877-BANK-NYS, One State Street, New York, New York 10004-1417.
Patriot Act Notice - Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to verify your identity. We may also ask you to send a copy of your driver's license or other identifying documents.
Terms and Conditions: Each Applicant submitting below ("I") is applying to Commerce Bank, N.A. ("Bank") for a Visa® Card ("Card") as indicated above. I authorize Bank to make the credit inquiries considered necessary for processing my application and for any review or collection of my Card Account(s) ("Account"). I also authorize any person or consumer reporting agency to compile information to answer the credit inquiries and to furnish information to Bank. I understand that if this application is approved, I will receive a copy of the Credit Card Agreement that applies to my account ("Agreement"). Use of the Card indicates that I agree to be legally bound by the terms of the Agreement. I expressly agree to account privileges made available to me. I agree this application, when submitted, is by each Applicant included in this form, and if approved, the Account will be established in both names. I agree that the terms stated in this application apply to each Applicant and that all Applicants will be jointly and individually liable for all amounts due on the Account at any time.
Author: Leeb
Posted: Mon Oct 17, 2005 5:23 pm
Post subject: Commerce Bank Rewards Credit Card Review
AMEX Clear offers the same no-fees thing.
Posted: Mon Oct 17, 2005 2:32 pm
Post subject: Commerce Bank Rewards Credit Card Review
These terms are from the Commerce Bank Visa Rewards Card... There must be a typo in the fees section. (I cut and pasted this from their site so I apologize in advance if this doesn't post properly).
IMPORTANT INFORMATION ABOUT THE COMMERCE BANK VISA® CARD
Annual Percentage Rate (APR) For Purchases 2.99% UNTIL THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, AFTER THAT, 10.74%*
Other APRs BALANCE TRANSFER APR: 2.99% UNTIL THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, AFTER THAT 10.74%*
CASH ADVANCE APR: 14.74%
Variable Rate -Information YOUR APR MAY VARY. AT THE END OF THE FIRST 6 MONTHS OF MEMBERSHIP, THE RATE FOR PURCHASE AND BALANCE TRANSFERS IS DETERMINED MONTHLY BY ADDING 3.99% TO THE PRIME RATE**
YOUR APR FOR CASH ADVANCES IS DETERMINED MONTHLY BY ADDING 7.99% TO THE PRIME RATE**
Grace Period For Repayment of Balances for Purchases YOU HAVE NOT LESS THAN 25 DAYS***
Method of Computing the Balance for Purchases AVERAGE DAILY BALANCE (EXCLUDING NEW PURCHASES)
Annual Fees NONE
Minimum Finance Charge $.50
Transaction Fee for Cash Advances: NONE Balance Transfer Fee: NONE
Late Payment Fee: NONE Over-the-Credit-Limit Fee: NONE * Introductory fixed 2.99% APR for purchases and balance transfers during the first six billing cycles of card membership; after that, variable APR for purchases and balance transfers is the Prime Rate** plus 3.99% (10.74% as of 9/20/05) on the entire outstanding balance.
--------------------------------------------------------------------------------
** The Prime Rate means the highest prime rate published in The Wall Street Journal on the day the rate is determined (or the previous day on which The Wall Street Journal was published if the paper is not published on that day). The date the rate is determined is the first day of each month. Any increase or decrease in the Prime Rate will result in an increase or decrease in your monthly periodic rate and corresponding APR. These changes will be applied, as applicable, to your existing account balance and to subsequent transactions effective as of the first day of the billing cycle immediately following the month in which we calculate the rate. Variable rates accurate through 9/20/05.
--------------------------------------------------------------------------------
*** You have not less than 25 days to repay the entire previous purchase balance before being charged a finance charge. If the purchase balance is not paid in full on or before the due date, finance charges will be assessed on the posting date of purchases made previously. The grace period is the same for balance transfers. The grace period does not apply to cash advances.
The terms (including rates) stated in these disclosures are subject to change.
Notice to New York Residents: A consumer credit report may be requested in connection with your application or in connection with updates, renewals or extensions of any credit granted as a result of your application. Upon your request, you will be informed whether or not such a report was requested and, if so, the name and address of the agency that furnished the report. New York residents may contact the New York State Banking Department to obtain a comprehensive listing of credit card rates, fees and grace periods. New York State Banking Department: 1-877-BANK-NYS, One State Street, New York, New York 10004-1417.
Patriot Act Notice - Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to verify your identity. We may also ask you to send a copy of your driver's license or other identifying documents.
Terms and Conditions: Each Applicant submitting below ("I") is applying to Commerce Bank, N.A. ("Bank") for a Visa® Card ("Card") as indicated above. I authorize Bank to make the credit inquiries considered necessary for processing my application and for any review or collection of my Card Account(s) ("Account"). I also authorize any person or consumer reporting agency to compile information to answer the credit inquiries and to furnish information to Bank. I understand that if this application is approved, I will receive a copy of the Credit Card Agreement that applies to my account ("Agreement"). Use of the Card indicates that I agree to be legally bound by the terms of the Agreement. I expressly agree to account privileges made available to me. I agree this application, when submitted, is by each Applicant included in this form, and if approved, the Account will be established in both names. I agree that the terms stated in this application apply to each Applicant and that all Applicants will be jointly and individually liable for all amounts due on the Account at any time.
Author: Leeb
Posted: Mon Oct 17, 2005 5:23 pm
Post subject: Commerce Bank Rewards Credit Card Review
AMEX Clear offers the same no-fees thing.
posted by CardRatings.com at 12:11 PM
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