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Last updated on July 18th, 2021
Comerica Visa® Platinum Card
No Interest for 18 Months
- Regular Purchase APR 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.99% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 0% for 20 months from account opening date
- Processing Network Visa
- No annual fee
- 0% intro APR for 18 months
- Comerica's lowest interest rate
- Visa perks and protections
- Intro Purchase APR: 0% for 20 months from account opening date
- Regular Purchase APR: 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 20 months from account opening date
- Balance Transfer APR: 13.49% to 23.49% 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: 25.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each advance, whichever is greater
- Foreign Transaction Fee: Up to 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
At a Glance
The Comerica Visa® Platinum Card is a balance transfer credit card that lacks the fireworks of a rewards card but makes up for it with a typically low APR and an extensive interest-free introductory period on balance transfers and purchases.
Ideal for Those Who:
- Have an existing credit card balance to pay down
- Plan to finance a major purchase soon
- Don’t want to pay an annual fee for a low APR card
Comerica Visa® Platinum Review
The Comerica Visa® Platinum is a low APR credit card offering from Comerica Bank. The card is the exact same as another Comerica card, the Detroit Tigers Visa® Platinum Card – just without the baseball branding.
A Lengthy Introductory Interest-Free Period
The primary draw of the Comerica Visa® Platinum is the lengthy introductory interest-free periods it enjoys.
The card benefits from 0% intro APR on purchases and balance transfers for the first 18 months. This impressive period compares favorably with other similar cards, such as the BankAmericard and the BB&T Bright.
Very Competitive Low APR
Once that intro period ends, the Comerica Visa® Platinum benefits from a low rate every day. The exact APR varies depending on the creditworthiness of the applicant. At the lower end of the spectrum, however, applicants receive a rate below 14% – a full percentage point below the national average for a low APR credit card.
Ideal for Carrying a Balance
Even those without a perfect credit can expect a reliable APR that is likely lower than many other credit cards.
This combination of competitive APRs and 0% interest for the 18-months makes the Comerica Visa® Platinum a potent financial tool. The card is ideal for anyone planning to pay down existing balances. It also provides significant value for anyone planning a large purchase.
The 18-month period makes paying for home improvements or another major spend a breeze. The five quarters with no interest allow holders to pay down that cost over time. This ability dramatically reduces the financial strain of these buys – a huge perk.
Other Card Features
Beyond the introductory interest-free period and the no annual fee, the Comerica Visa® Platinum Card doesn’t bring a whole lot to the table. The card charges a foreign transaction fee of up to 3%, for example, and the balance transfer fee is also 3%. Neither of these charges is excessive, nor are they uncommon, but they are still additional costs, which is never great.
The only other perks that come with the card are the essential Visa® benefits and protections that come with all Visa® Platinum credit cards. These perks include Zero Fraud Liability, Auto Rental Collision Damage Waiver, Roadside Dispatch, and more. These travel and fraud protections aren’t unique to the Comerica Card, but they do provide an additional layer of security that makes paying with a Visa® Card so reliable.
Should You Apply for the Comerica Visa® Platinum Card?
The Comerica Visa® Platinum Card is a convenient, no annual fee, low APR and balance transfer card. The 18 months of 0% introductory APR is the focal point of the offer, but the regular APR isn’t too bad either. There are plenty of low APR cards that offer lower rates. Those cards typically lack the year and a half interest-free that comes with the Comerica Card, however.
The card also compares favorably to rivals from all the leading issuers. Since rewards are unimportant with these cards, the benefits of Chase or Barclays wash away, with the only essential items being the rates and the length of introductory offers. In both regards the Comerica card performs admirably.
Overall, the Comerica Visa® Platinum Card is a solid card – and worth considering closely.