Last updated on July 3rd, 2023
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Comerica Premier Rewards American Express® Card
Comerica Premier Rewards American Express® Card
- 13.99% to 22.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 13.99% to 22.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 23.99% variable based on the Prime Rate Cash Advance APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee for the first year
- Earn 4X points on dining; 3X on airlines; 2X on gas; and 1X on all other purchases
- 10,000 bonus rewards points after you spend $1,000 in the first 3 month
- No foreign transaction fees
- Regular Purchase APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 23.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each advance, whichever is greater
- Annual Fee: $0 for the first year; $99 after that
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: Up to $35
Comerica Premier Rewards American Express® Card Review
The Comerica Premier Rewards American Express® Card is a versatile rewards card that more than justifies it’s $99 annual fee (which Comerica leaves for the first year). The card earns big rewards on every purchase, with no limit on the total number of points.
10,000 Introductory Bonus Points
The card benefits from a decent introductory offer of 10,000 points after spending $1,000 within the first 90 days. While 10,000 points isn’t the heftiest bonus, $1,000 in purchases is an easy task, as the monthly spending needed is around $333 for the first three months.
The value of the intro reward is $100, as points are worth $0.01. This return rate of 10% is impressive while making purchases towards that $1,000 goal in select categories further boosts the value.
How to Earn Reward Points
The Comerica Premier Rewards American Express® Card earns impressive points in select categories. The most lucrative group is restaurants, which earns 4X points. 4X points put the card on equal footing with Capital One Savor Card, one of the best dining cards on the available. The Savor earns 4% cash back on dining and entertainment, with a comparable annual fee as the Comerica Card.
The Comerica Premier Rewards Card also earns triple points on airline and gas purchase, 1X points on all other purchases. The Savor Card earns 1% back on all these categories. The only additional rewards come from 2% back at grocery stores and 8% back on Vivid Seats ticket purchases.
The rewards-earning versatility of the Comerica Card is its greatest asset. This versatility is present not only at home but all around the world, thanks to no foreign transaction fees. Getting 4X on dining and 2X on gas purchases means this card works great on commutes and on the town in the evening.
There is no cap on the number of points earnable, but points expire after five years.
How to Redeem Reward Points
Reward options with Elan Rewards program are the same you find with almost any other rewards program. Points are redeemable for travel, gift cards, or merchandise. Cash back is another award option available as a statement credit or a deposit into existing Comerica Bank accounts.
Comerica Premier Rewards Amex Travel Perks
As the foremost American Express card from Comerica, the Comerica Premier Rewards American Express Card offers additional travel perks to enhance the points it earns on airfare. Top among these perks is the reimbursement for TSA Pre-Check/Global Entry application fees.
TSA Pre-Check lets passengers quickly get through security at airports, while Global Entry expedites the border checks process when returning to the U.S.
The card also enjoys no foreign transaction fees, making it a useful tool worldwide. While no foreign transaction fees isn’t uncommon on a card like this, it’s still a helpful feature.
A Competitive APR
The Comerica Premier Rewards Card doesn’t come with the 0% intro APR periods found on other similar cards, such as the AMEX Blue Cash Preferred, but the card isn’t meant to be a balance transfer card.
The APR is good, but not extraordinary. Those with excellent credit scores can anticipate an APR inline with the national average – about 16%. Since the APR isn’t ideal, the card isn’t something to carry a balance on if you can help it. Those who do carry a balance, however, won’t be punished as severely as they may be with other cards.
Should You Apply for the Comerica Premier Rewards American Express® Card?
The Comerica Premier Rewards American Express® Card is an extremely enticing rewards credit card for those who want to earn rewards on their every day – and occasional – spending. The card earns impressive points on the things people like to use their card for –dining and gas especially.
The addition of triple points on airfare, however, gives the card versatility for travel. This is something that makes the card such a great value. No foreign transaction fees, plus credits for TSA Pre-Check and Global Entry fees increase these travel credentials. This fee is $100, repaying the card’s annual fee it charges for the second year instantly.