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Verdict: The rewards card field is a competitive one today. Cards such as Comerica Bank’s Visa Signature Credit Card can lost in the shuffle. This would be a shame: This card, while not a standout in the field, is still a solid offering. Consumers with high credit scores can qualify for a low purchase interest rate while earning rewards points on every purchase they make with their card.
Overview: Cardholders won’t have to memorize special spending categories to take advantage of the Comerica Bank Visa Signature card’s rewards program. This card rewards cardholders the same amount of points for every dollar that they charge.
How This Card Works: Once cardholders earn enough rewards points, they can redeem them for airline tickets. Cardholders can also choose to earn 1 percent cash-back bonuses for every dollar that they charge.
Travel and Shopping Benefits: This card’s rewards program comes with some flexibility. Cardholders can either earn 1 percent cash back on every purchase that they make with their cards. Or if they’d rather earn rewards points, they’ll earn one point for every dollar that they charge. The card also provides consumers with 2,500 bonus points after they make their first purchase with the card.
Fees: The purchase interest rate attached to this card ranges from a quite low 9.99 percent to 20.99 percent. The rate that cardholders earn depends on their credit scores, with those with the highest scores nabbing the 9.99 percent rate. The card also comes with an introductory interest rate offer of 0 percent on both purchases and balance transfers for the first six billing cycles after cardholders open their accounts. Cash advances cost $10 or 4 percent of the advance amount, whichever figure is higher. Penalty fees for late payments, returned payments and going over the credit limit can all hit up to $35. There is no annal fee with this card.
- No annual fee.
- Purchase interest rate of 9.99 percent for those with highest credit scores.
- Straightforward rewards program.
- Purchase interest rate can be as high as 20.99 percent for those with low credit scores.
- No way to earn extra rewards points with any purchase.