The Comerica credit card is available to all clients of Comerica Bank.
This financial institution, in cooperation with Elan Financial Services and Visa, offers four personal credit cards
and three business credit cards for consumers to choose from. This article will discuss the universal features of a
Comerica credit card and the basic benefits of one of them, the Comerica Visa® Platinum Card.
The universal features of a Comerica credit card include Visa’s zero liability program, identity theft protection,
and extended warranty insurance. Whenever a cardholder uses his/her Comerica credit card to purchase tickets, hotel
accommodations, and travel packages, s/he is given a travel accident insurance (up to $500,000), travel assistance,
collision or damage insurance for car rentals, discounts for car rentals, and waivers in case of auto rental damage
or collision. Supplementary cards are also given for free. When a cardholder shops online, s/he can be assured of a
safe transaction through the Verified by Visa service. All Comerica credit card holders also get an introductory
APR for the first six billing cycles of 0% on purchases and balance transfers and a zero annual fee. Each
cardholder can even manage his/her account through Comerica’s online account management service. An overdraft
protection option is also available for Comerica credit card holders through their checking account.
The Comerica Visa® Platinum Card is the basic credit card from Comerica. It can be enrolled with a checking account
in order for a cardholder to get a better hold of his/her finances. This traditional Comerica credit card offers
free credit card convenience checks, a 24/7 customer care service, and the ease of being accepted by millions of
stores and ATMs worldwide.
Standard fees for this Comerica credit card include a purchase and balance transfer APR that ranges from 9.99% to
20.99%. For cash advances, the APR is a variable 23.99%. A monthly minimum interest charge of $2 will also apply.
Transaction fees for this card include a balance transfer fee of $5 or 3% of the amount per transaction (whichever
is greater) and a foreign currency transaction fee of 2% (when the transaction is done in US dollars) or 3% (when a
transaction is done in a foreign currency) of the amount. Convenience checks also incur a $5 or 3% transaction fee.
For cash advances, either $10 or 4% of the amount is taken. For cash equivalent advance, however, 4% of the amount
or $20 will be incurred as fee. This Comerica credit card also has an overdraft protection fee of $10.
Penalty fees apply when payments are late or returned and when a Comerica credit card holder goes over the limit.
Both returned payments and over-the-limit transaction incur a $39 fee. For late payments, the fee is $19 ($100 or
below balances), $29 ($100 to $250 worth of balances), and $39 (balances worth at least $250). The annual gross
income required for this Comerica credit card is $12,000.
Source: Credit Cards For People With Bad Credit Rating
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