Commerce Bank Visa Business Platinum Card Review for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
The Commerce Bank Visa Business Platinum Card is one of the few small business credit cards that offers a fixed-rate and low regular APR of 10.90%. In addition, this card doesn’t charge annual and foreign transaction fees and welcomes applicants with either fair or good credit.
To see how this card stacks up against others that we have reviewed on our site, click Add to Compare on the card below and select up to two additional cards for comparison.
Commerce Bank Visa Business Platinum Card
Intro APR
N/A
Regular APR
10.90% variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Our Business Platinum Card is designed to give you the ability to adapt to your ever-changing needs as a business owner.
- No annual fee
- Low APR and an extended grace period
- Set individual credit limits for employees
Pros
- No annual fees
- No foreign transaction fee
- Has lower than average regular APR
Cons
- No sign-up bonus
- No introductory APR
- Only serves customers in selected states
- Doesn’t have many features
- Suspicious Card Activity Alert: After signing up for Suspicious Card Activity Alerts in Online Banking, a text message will be sent if your Commerce Bank credit card transaction is flagged due to potentially suspicious activity
- Lock Your Card: Can temporarily block new purchases and ATM withdrawals, without interrupting recurring payments
- Zero Liability Coverage: You’ll be protected from unauthorized transactions via Visa Zero Liability at no additional cost
Intro APR
N/A
Regular APR
10.90% variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Our Business Platinum Card is designed to give you the ability to adapt to your ever-changing needs as a business owner.
- No annual fee
- Low APR and an extended grace period
- Set individual credit limits for employees
Pros
- No annual fees
- No foreign transaction fee
- Has lower than average regular APR
Cons
- No sign-up bonus
- No introductory APR
- Only serves customers in selected states
- Doesn’t have many features
- Suspicious Card Activity Alert: After signing up for Suspicious Card Activity Alerts in Online Banking, a text message will be sent if your Commerce Bank credit card transaction is flagged due to potentially suspicious activity
- Lock Your Card: Can temporarily block new purchases and ATM withdrawals, without interrupting recurring payments
- Zero Liability Coverage: You’ll be protected from unauthorized transactions via Visa Zero Liability at no additional cost
How We Evaluate Fixed Rate Business Credit Cards
When evaluating fixed rate business credit cards like the Commerce Bank Visa Business Platinum Card, we consider ongoing rewards first and introductory rewards as the second biggest factor. We also look at the annual fee, introductory and ongoing annual percentage rates (APRs), and card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 10 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 10 | 15 |
Introductory APR | 5 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 70 | 100 |
Who the Commerce Bank Visa Business Platinum Card Is Best For
- Business owners with fair to good credit: If your credit score is between 600 to 850, you’re eligible to apply for the Commerce Bank Business Platinum Card.
- Businesses that need to make large purchases: If you’re planning to make large purchases such as office equipment and supplies for your business, then the Commerce Bank Business Platinum Card is a good choice because of its APR of 10.90%, variable.
Commerce Bank Visa Business Platinum Card Fees
- Introductory annual percentage rate (APR): N/A
- APR for purchases: 10.90% variable, depending on the prime rate
- Cash advance APR: 19.90% variable, depending on the prime rate
- Late payment APR: 21.99% variable, depending on the prime rate
- Variable rate information: APR is determined monthly by adding 9.90% to the prime rate, which is subject to a minimum rate of 5.00%
- Grace period for repayment of purchase balances: At least 25 days from the date of the periodic statement
- Annual fee: N/A
- Minimum finance charge: $0.50
- Minimum monthly payment: Either 5% of the current balance listed on your billing statement or $15, whichever is greater
- Foreign transaction fee: N/A
- Late payment fee: $29
- Cash advance fee: 3.00% of the cash advance amount, with a minimum of $15
- Over-the-credit-limit fee: $29
Commerce Bank Visa Business Platinum Card Rewards
- Unlimited cash back on all purchases, which can be redeemed as a statement credit
- Can set up toggle® to earn rewards for all purchases, big or small, without adding to your credit card balance:
- $150 cash back bonus when you spend $1,000 on purchases within three months after opening an account
- Unlimited 1.5% cash back on every purchase, every day
How To Make Payments to the Commerce Bank Visa Business Platinum Card
- Online: Commerce Bank offers a Make a Payment Wizard, which allows you to make a one-time payment to your Commerce Bank Visa Business Rewards Card from your checking or savings account. Click the “Make a Payment” link on your Account Activity page or the “Make a Payment to your Credit Card” link on the Customer Service page.
- At a Commerce Bank branch: You may also opt to visit the nearest branch to pay for your credit card bills quickly
- Through the mobile app: Not only can you pay your bill through the Commerce Bank mobile app, but you can also lock and unlock the card if it’s misplaced or stolen.
Commerce Bank Visa Business Platinum Card Additional Features
Suspicious Card Activity Alert
Commerce Bank Visa Business Platinum cardholders can sign up for suspicious card activity alerts. After signing up, you’ll receive a text message if a credit card transaction is flagged due to potentially fraudulent activity.
Lock Your Card
You can temporarily block new purchases and ATM withdrawals without interrupting existing recurring payments.
Special Connections®
Cardholders that have existing checking accounts with Commerce Bank can use the Special Connections® feature. This allows them to use their Commerce Bank Business Rewards Card for both credit and debit purchases and conveniently access their other Commerce Bank accounts at the ATM.
Employee Credit Cards
Commerce Bank Visa Business Rewards Card offers employee credit cards with an individual limit set for each employee. There’s no limit to the number of cards you can request.
Pros & Cons of the Commerce Bank Visa Business Platinum Card
| PROS | CONS |
|---|---|
| No annual fees: Commerce Bank Visa Business Platinum Card doesn’t charge any annual fees. | No signup bonus: Commerce Bank Visa Business Platinum Card doesn’t offer a signup bonus after opening an account. |
| No foreign transaction fees: This credit card doesn’t charge any foreign transaction fees, so you don’t have to worry about additional charges when traveling internationally. | No introductory APR: This card doesn’t offer an introductory APR. |
| Lower-than-average regular APR: The Commerce Bank Visa Business Card offers a fixed-rate regular APR of 10.90% variable, making it one of the few credit cards with a lower-than-average APR. | Only serves customers in selected states: Commerce Bank only serves customers in Missouri, Kansas, Illinois, Oklahoma, and Colorado. |
| Few features: Other than card protection and unlimited cards for employees, the Commerce Bank Visa Business Platinum Card doesn’t have any other unique features that set it apart from other credit cards. | |
Commerce Bank Visa Business Platinum Card Alternatives
Chase Ink Business Unlimited®
The Chase Ink Business Unlimited® offers a 1.5% fixed rate cash back for every $1 spent on any business purchase. In addition, it doesn’t charge any annual fees, has an introductory APR of 0% for the first 12 months after account opening and has a minimum regular APR of 13.49%. We chose this card as the best overall small business credit card, the best credit card for new businesses with no credit history, and one of the best business credit cards with no annual fee.
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
PNC Cash Rewards® Visa Signature® Business Credit Card
The PNC Cash Rewards® Visa Signature® Business Credit Card is another alternative credit card to consider because of its introductory APR of 0% for 9 billing cycles and its low minimum regular APR of 10.99%. Businesses who need to make large purchases regularly may want to consider this credit card. We chose it as one of the best business credit cards with no annual fee.
PNC Cash Rewards® Visa Signature® Business Credit Card
BEST FOR:
PNC Bank account holders who want to earn cash back rewards
Intro APR
0% for 9 billing cycles
Regular APR
10.99% to 19.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- No annual fee
- Sign-up bonus
- Low ongoing APR
Cons
- Short 0% APR period
- No 0% APR period on balance transfers
- Online application not available for nonaccount holders
- Cash Flow Insight®: This tool helps you monitor your spending categories so you can plan your budget.
- Business integrations: You can download your transactions into Excel®, Quicken® or QuickBooks®, or use .csv files.
- Visa Signature® Benefits: This card comes with Visa travel benefits and protection for purchases.
Intro APR
0% for 9 billing cycles
Regular APR
10.99% to 19.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $250 cash bonus for spending $3,000 in the first three billing cycles
- 0% APR on purchases for the first nine billing cycles after opening an account
- Earn 1.5% cash back on all purchases
- No annual fee
Pros
- No annual fee
- Sign-up bonus
- Low ongoing APR
Cons
- Short 0% APR period
- No 0% APR period on balance transfers
- Online application not available for nonaccount holders
- Cash Flow Insight®: This tool helps you monitor your spending categories so you can plan your budget.
- Business integrations: You can download your transactions into Excel®, Quicken® or QuickBooks®, or use .csv files.
- Visa Signature® Benefits: This card comes with Visa travel benefits and protection for purchases.
American Express Blue Business CashTM Card
The American Express Blue Business CashTM Card offers expanded buying power that lets you spend beyond your credit limit. It also offers an introductory APR of 0% for the first 12 months after account opening and a relatively low minimum APR of 13.99%. It’s perfect for businesses that need to make regular large purchases. We chose it as the overall best limited liability company (LLC) credit card.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Bottom Line
The Commerce Bank Visa Business Platinum Card is a great option for businesses that regularly make large purchases and need a relatively low fixed APR. If this card isn’t right for you, visit our Credit Card Marketplace to find one that’s a better fit.
