Miles® Visa Signature from Commerce Bank Review

Navigating the world of credit cards can often feel like navigating a maze, with countless options each offering different rewards, fees, and benefits. The Miles® Visa Signature from Commerce Bank stands out as a robust option for those who frequently travel and want to maximize the rewards they earn on travel-related purchases. With an enticing 2.5x miles on travel purchases including airfare, hotels, and rideshares, and 1x miles on all other purchases, this card offers a compelling case for frequent travelers. In this review, we will delve deep into the specifics of the Miles® Visa Signature card, assessing its key features, pros and cons, and overall benefits.

Miles® Visa Signature from Commerce Bank Key Takeaways

Reward Structure

The Miles® Visa Signature card offers a straightforward yet lucrative reward structure:
– 2.5x miles on travel purchases: This includes airfare, hotels, and rideshares, making it perfect for frequent travelers.
– 1x miles on all other purchases: A solid rate for everyday spending.

Introductory Offers

– 0% Introductory APR: For the first 12 billing cycles, new cardholders can benefit from a 0% introductory APR, which is a great feature for those looking to make large purchases or planning to carry a balance initially.

Fees and APR

– No Annual Fee: This is a significant advantage, especially for those who want to avoid the cost of maintaining the card.
– Variable APR: After the introductory period, the APR ranges from 19.49% to 30.49%, which is quite standard but can be high if you carry a balance.
– No Foreign Transaction Fees: This is particularly beneficial for international travelers as it helps avoid the usual 2-3% foreign transaction fee charged by many other cards.

Credit Score Requirement

– Good to Excellent Credit: Applicants typically need a credit score between 670 and 799 to be approved for this card.

Miles® Visa Signature from Commerce Bank Pros and Cons

Pros

1. No Annual Fee: Zero cost to maintain the card annually.
2. High Rewards Rate on Travel: 2.5x miles on travel-related purchases is competitive.
3. 0% Intro APR: The 12-month introductory APR period is a great perk for new cardholders.
4. No Foreign Transaction Fees: Ideal for international travel.
5. Flexible Payment Options: Allows for payment flexibility without immediate interest charges, provided the balance is paid in full each month.
6. Fraud Protection: Robust security features to protect against unauthorized transactions.

Cons

1. High Variable APR: The post-introductory APR ranges from 19.49% to 30.49%, which can be quite high for those who carry a balance.
2. Penalty APR: A penalty APR of 32.49% can be applied for late payments, which is steep.
3. Balance Transfer Fees: Either $10 or 5% of the amount of each balance transfer, whichever is greater.
4. Cash Advance Fees: Either $10 or 5% of the amount of each cash advance, whichever is greater.

Miles® Visa Signature from Commerce Bank Benefits

Travel Rewards and Benefits

The standout feature of the Miles® Visa Signature card is its travel rewards program. Earning 2.5x miles on travel purchases makes this card particularly valuable for those who travel frequently. Whether you’re booking flights, hotels, or using rideshare services, the miles can add up quickly. Additionally, the lack of foreign transaction fees ensures that you can use your card abroad without incurring extra costs, making it a convenient option for international travelers.

Introductory APR Offer

The 0% introductory APR for the first 12 billing cycles is a significant benefit, especially for those planning large purchases or balance transfers. This feature allows new cardholders to avoid interest charges for the first year, providing some financial breathing room. However, it’s crucial to pay off the balance before the introductory period ends to avoid the high variable APR that follows.

Flexible Payment Options

The card offers flexible payment options, allowing you to avoid interest charges if you pay your balance in full by the due date each month. This feature is particularly beneficial for those who prefer to manage their finances by paying off their balances regularly.

No Annual Fee

One of the most attractive features of the Miles® Visa Signature card is the lack of an annual fee. This makes it an ideal choice for those who want to earn travel rewards without the added cost of maintaining the card. Many travel rewards cards come with steep annual fees, so this is a significant advantage.

Security and Fraud Protection

Commerce Bank provides robust security features with the Miles® Visa Signature card. This includes fraud protection, which monitors your account for suspicious activity and provides alerts for any unusual transactions. This ensures that your account is safeguarded from unauthorized use.

Purchase Protection

The card also offers purchase protection, which can cover eligible purchases against damage or theft within a certain period. This adds an extra layer of security when making significant purchases, ensuring that you’re not left out of pocket if something goes wrong.

Conclusion

The Miles® Visa Signature from Commerce Bank is a compelling choice for frequent travelers who want to maximize their rewards on travel-related purchases. With a generous 2.5x miles on travel purchases and 1x miles on all other purchases, this card offers a straightforward and lucrative rewards program. The 0% introductory APR for the first 12 billing cycles is a valuable feature, providing new cardholders with a year of interest-free purchases.
Additionally, the lack of an annual fee and foreign transaction fees makes this card an attractive option for those who want to avoid the extra costs often associated with travel rewards cards. However, it’s important to be aware of the high variable APR that follows the introductory period and the penalty APR for late payments.
Overall, the Miles® Visa Signature from Commerce Bank offers a robust travel rewards program, flexible payment options, and solid security features, making it an excellent choice for those who prioritize earning rewards on travel and want to manage their finances effectively. Whether you’re a frequent flyer, a business traveler, or someone who enjoys exploring new destinations, this card can help you make the most of your travel spending while providing valuable benefits and protections.