Bryant University Alumni Visa® Rewards from Commerce Bank Review

In the vast landscape of credit cards, the Bryant University Alumni Visa® Rewards from Commerce Bank offers a distinctive blend of rewards and benefits tailored to consumers who favor streaming, cable, ridesharing, dining, and gas purchases. As a financial expert, I have delved into the intricate details of this card to provide a comprehensive review. This review aims to help potential cardholders determine if this card aligns with their financial habits and goals.

Bryant University Alumni Visa® Rewards from Commerce Bank Key Takeaways

Before diving into the detailed analysis, let’s quickly highlight the key features of the Bryant University Alumni Visa® Rewards card:
– 3% Cash Back on streaming, cable, and ridesharing services.
– 2% Cash Back on gas and restaurants.
– 1% Cash Back on all other eligible purchases.
– No Annual Fee, making it a cost-effective option for reward seekers.
– 1.99% Introductory APR for the first 6 months on purchases and balance transfers.
– Variable APR ranging from 20.49% to 30.49% after the introductory period.
– Good to Excellent Credit Score required (670-799).
– Penalty Fees including a 32.49% rate for late payments and a potential $40 late payment fee.
Now, let’s break down these features further to understand what makes this card stand out and where it might fall short.

Bryant University Alumni Visa® Rewards from Commerce Bank: Pros and Cons

Pros

– No Annual Fee: One of the most significant advantages of this card is the absence of an annual fee. This feature alone can save cardholders anywhere from $50 to $100 per year compared to other rewards cards that do charge a fee.
– High Cash Back Rates: The card offers a competitive 3% cash back on streaming, cable, and ridesharing services. This makes it an excellent option for individuals who frequently use services like Netflix, Hulu, Uber, and Lyft. Additionally, the 2% cash back on gas and restaurants is advantageous for those who drive often and enjoy dining out.
– Introductory APR: The 1.99% introductory APR for the first 6 months on purchases and balance transfers can provide significant savings for new cardholders, especially if they plan to make large purchases or transfer a balance from a higher-interest card.
– Wide Acceptance: As a Visa card, it is widely accepted both domestically and internationally, though it’s important to note the foreign transaction fees.

Cons

– High Variable APR: After the introductory period, the APR ranges from 20.49% to 30.49%, which is relatively high. This can lead to substantial interest charges if the balance is not paid in full each month.
– Penalty Fees: The card comes with a 32.49% penalty APR for late payments and a late payment fee of up to $40. These fees can add up quickly if you miss a payment.
– Foreign Transaction Fee: While the card is widely accepted, it does come with a foreign transaction fee, which can make it less attractive for international travelers.
– Limited Intro Offer: Unlike some competitors, this card does not offer a sign-up bonus or introductory rewards, which might be a drawback for some potential cardholders.

Bryant University Alumni Visa® Rewards from Commerce Bank Benefits

Cash Back Rewards

The primary benefit of the Bryant University Alumni Visa® Rewards card is its cash back rewards structure. Let’s take a closer look at each category:

3% Cash Back on Streaming, Cable, and Ridesharing Services

In today’s digital age, many consumers spend a significant amount on streaming services and ridesharing. This card offers a generous 3% cash back on these categories. Here are some practical examples:
– Streaming Services: Netflix, Hulu, Disney+, Amazon Prime Video, and other similar services.
– Cable Services: Comcast, Spectrum, and other cable providers.
– Ridesharing Services: Uber, Lyft, and other ridesharing apps.
For individuals who are heavy users of these services, the 3% cash back can lead to substantial savings over time.

2% Cash Back on Gas and Restaurants

This benefit caters to those who frequently drive and dine out. With gas prices fluctuating, earning 2% cash back on gas purchases can provide some financial relief. Similarly, 2% cash back on dining can add up for those who enjoy eating out or ordering takeout.

1% Cash Back on All Other Eligible Purchases

While the 1% cash back on all other purchases is standard compared to other cards, it still provides value, especially when combined with the higher cash back rates in the specialized categories.

No Annual Fee

The absence of an annual fee makes this card an excellent choice for those who want to earn rewards without the burden of an annual cost. This feature makes it easier for cardholders to come out ahead in terms of rewards earned versus fees paid.

Introductory APR

The 1.99% introductory APR for the first 6 months is beneficial for new cardholders who plan to make significant purchases or transfer balances from higher-interest cards. This can lead to considerable savings in interest charges during the introductory period.

Wide Acceptance and Customer Service

As a Visa card, it is widely accepted worldwide. Commerce Bank also offers robust customer service options, including online account management and bill payment, which add to the card’s convenience.

Conclusion

The Bryant University Alumni Visa® Rewards from Commerce Bank is a solid choice for consumers who spend heavily on streaming, cable, ridesharing, dining, and gas. The absence of an annual fee combined with competitive cash back rates makes it an attractive option for many.
However, potential cardholders should be mindful of the high variable APR and penalty fees. It’s crucial to pay off the balance in full each month to avoid these charges. Additionally, the lack of a sign-up bonus or introductory rewards may be a drawback for some.
Overall, this card offers a balanced mix of rewards and benefits, particularly for those who can maximize the 3% and 2% cash back categories. If your spending habits align with these categories and you can manage your payments responsibly, the Bryant University Alumni Visa® Rewards card could be a valuable addition to your wallet.
In conclusion, as a financial expert, I would recommend this card to individuals who are looking for a no-annual-fee card with competitive rewards in specific spending categories. It’s an excellent option for those who can take advantage of the high cash back rates on streaming, cable, ridesharing, gas, and dining. However, it’s essential to be cautious of the high APR and penalty fees to ensure you get the most out of this credit card.