Before you read the numbers.
This agreement prices the card as the Prime Rate plus a margin rather than as a fixed APR. The figure shown is that margin in percentage points, not an APR. The rate actually charged moves whenever Prime moves, so the cost of carrying a balance changes without the issuer amending the agreement.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Penalty APR | 23.99% |
|---|---|
| Late payment fee | up to $40 |
| Foreign transaction fee | 2% |
| Cash advance fee | Either $10 or 5% of the amount of each |
| Balance transfer fee | Either $10 or 5% of the amount of each |
| Grace period | 25 days |
| Minimum interest charge | $2.5 |
| Network | Visa |
Analysis
Pricing in Commerce Bank's Seattle U Visa Rewards 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
Seattle U Visa Rewards Credit Card Pricing Information is one of the agreements Commerce Bank has on file with the CFPB. It is issued on the Visa network and the filing runs one page.
The filing is explicit about a penalty rate, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.
These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.
Margins, not APRs
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.
The filing's margin figures come to 23.99 points for penalty pricing.
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.
These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.
Where the fees are
For cash advances the filing discloses a cash advance fee of $10 or 5% of the advance, whichever is greater. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does.
Transfers are charged $10 or 5% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. On $5,000 that fee is about $250 before any interest is charged.
Foreign transactions attract 2%. On $2,000 of overseas spending that is $40, charged on top of whatever exchange rate applies.
The downside terms
Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.
Grace period and minimum charge
The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.
Where interest applies at all, the filing bills at least $2.50. On a tiny balance that floor can dwarf the rate itself.
Inside Commerce Bank's filed lineup
165 separate Commerce Bank filings appear in the corpus.
What is outside the disclosure
The disclosure parsed here does not state a purchase rate and an annual fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.
An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.
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.
The source document
This page is a reading of one document: the cardholder agreement Commerce Bank filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Commerce Bank, not by us. We do not take applications and cannot say whether you would be approved.
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Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed margin over Prime among cards in the same groups.