Comerica Cash Rewards Credit Card Review

The Comerica Cash Rewards Credit Card offers a straightforward cash back program that rewards everyday spending with no annual fee while providing tiered rewards that emphasize grocery, gas, and utility purchases for consumers seeking practical benefits without complicated redemption structures.

Cash Back Rewards Structure

The Comerica Cash Rewards Credit Card features a tiered rewards system that prioritizes common household expenses with higher earning rates than many comparable no-annual-fee cards on the market today.

Cardholders earn 3% cash back on eligible grocery store, gas station, and utility bill payments, creating substantial value for families who allocate significant portions of their monthly budgets to these essential spending categories.

The card provides 2% cash back on eligible restaurant and drugstore purchases, offering moderate rewards for dining experiences and pharmaceutical needs that complement the primary high-reward categories.

All other purchases earn a standard 1% cash back rate, ensuring that every transaction generates some return regardless of merchant category or spending type.

Sign-Up Bonus and Promotional Offers

New Comerica Cash Rewards cardholders can earn a $200 cash bonus after spending $1,000 on purchases within the first three months of account opening, representing a solid 20% return on required spending.

The card occasionally features limited-time promotional offers that boost cash back rates in rotating categories, though these promotions typically require enrollment and have spending caps that limit their overall earning potential.

Comerica Bank sometimes provides exclusive offers to existing banking customers who apply for this credit card, including higher initial bonuses or preferential interest rates that enhance the card’s overall value proposition.

Fees and APR Considerations

The Comerica Cash Rewards Credit Card charges no annual fee, making it accessible to budget-conscious consumers who want to maximize their rewards without an upfront cost commitment.

The card’s variable APR ranges from 18.99% to 27.99% based on creditworthiness at account opening, positioning it within the industry average range for cash back credit cards with similar reward structures.

Balance transfers incur a fee of 4% (minimum $10) of the amount transferred, which is slightly higher than the 3% fee commonly found on competing cards from major issuers.

Foreign transaction fees of 3% apply to all purchases made outside the United States, making this card less suitable for international travelers compared to alternatives that waive these charges.

Redemption Options and Flexibility

Cash back rewards can be redeemed as statement credits, direct deposits to a Comerica Bank checking or savings account, or as credits toward existing Comerica loans, providing reasonable flexibility for most cardholders.

The minimum redemption threshold is $25, which is higher than some competitors that allow redemptions starting at just $1, potentially delaying access to earned rewards for light spenders.

Comerica Bank does not impose expiration dates on cash back rewards as long as the account remains open and in good standing, allowing cardholders to accumulate rewards without pressure to redeem within specific timeframes.

Unlike some premium rewards cards, the Comerica Cash Rewards Card doesn’t offer options to transfer rewards to travel partners or receive enhanced value when redeeming for travel, limiting its appeal to frequent travelers.

Additional Card Benefits

Cardholders receive complimentary access to their FICO credit scores through online banking or the Comerica mobile app, helping them monitor their credit health without subscribing to separate credit monitoring services.

The card includes standard Mastercard benefits such as Zero Liability Protection, ID Theft Protection, and extended warranty coverage on eligible purchases, providing baseline security and purchase protections.

Comerica offers account alerts via text or email for unusual activity, payment reminders, and balance notifications, enhancing the card’s utility for budget management and fraud prevention.

Cardholders can add authorized users at no additional cost, allowing families to consolidate spending and maximize rewards earning across multiple individuals while maintaining centralized account management.

Fonte: Pixabay

Conclusion

The Comerica Cash Rewards Credit Card presents a competitive option for consumers who spend heavily in everyday categories like groceries, gas, and utilities, offering above-average returns on these necessities without charging an annual fee.

While the card lacks premium travel benefits and transfer partners found in more expensive alternatives, its straightforward cash back structure and reasonable redemption options make it an attractive choice for pragmatic consumers focused on reducing costs on routine purchases.

Existing Comerica Bank customers stand to gain the most value from this card through relationship bonuses and simplified rewards management, though even non-customers can benefit from its solid rewards rate on essential spending categories and user-friendly features.

Frequently Asked Questions

1. What credit score do I need for the Comerica Cash Rewards Credit Card?
   Most successful applicants have good to excellent credit scores (typically 670 or higher), though Comerica considers multiple factors beyond score alone when evaluating applications.

2. Can I combine cash back rewards from multiple Comerica credit cards?
   No, Comerica maintains separate reward accounts for each credit card, preventing the consolidation of cash back earnings across different Comerica card products.

3. How long does it take for cash back rewards to post to my account?
   Cash back typically posts to your rewards balance within 1-2 billing cycles after eligible purchases, with statement credits or deposits processed within 7 business days of redemption requests.

4. Are there spending caps on the 3% and 2% cash back categories?
   Currently, Comerica does not impose spending caps on the elevated reward categories, allowing unlimited earning potential in the 3% and 2% categories.

5. Does the Comerica Cash Rewards card offer purchase protection or travel insurance?
   The card provides basic purchase protections through Mastercard benefits, but lacks comprehensive travel insurance coverage found on more travel-oriented premium credit cards.