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Review: Comerica Bank Business Credit Cards
September 26, 2019
Comerica-Bank

Review: Comerica Bank Business Credit Cards

September 26, 2019
As a small business owner, choosing the best business credit card can be a daunting task, especially when there seems to be countless options available. One way to narrow down the list of options is to find a high-quality bank that prides itself on building strong relationships with its customers — for example, Comerica Bank.

Comerica is the 40th largest bank in the United States and the largest U.S. commercial bank headquartered in Texas. It has offices throughout the U.S., including Texas, Michigan, Arizona, California, and Florida. The Bank also has business operations in other parts of the country as well as Canada and Mexico. With origins that date back to 1849, Comerica has proven itself to be stable and resilient.

To help you decide whether a Comerica business credit card is right for your business, we’ll review the Comerica Bank Business Credit Card options. In this post, you’ll find Comerica Bank’s eligibility requirements and card benefits, to help you determine whether these cards can help you achieve your business goals.

Are Comerica Bank Business Credit Cards Right for You?

Comerica Bank Business Credit Card Options:

Comerica Bank offers several business credit card options for small business owners. All cards are issued by Elan Financial Services.

  • Mastercard® Business Platinum Card: The Business Platinum Card comes with a lower interest rate, which makes it a great option for business owners who want to pay down their credit card balances faster.Although the card doesn’t come with additional rewards, you’ll have access to the same perks as reward card holders, including Comerica’s award-winning expense management tools and added security benefits.
  • Mastercard® Business Real Rewards Card: The Business Real Rewards Card allows you to earn rewards faster with 1.5 points for every $1 you spend monthly on eligible net purchases (equal to 1.5 percent cash back). You’ll also earn 2,500 bonus rewards points after your first purchase.
  • Mastercard® Business Rewards PLUS Card: The Business Rewards PLUS Card allows you to earn up to 3 points for every $1 you spend on qualified purchases and 1.5 points for all other eligible purchases. Plus, you’ll earn 20,000 one-time bonus rewards points if you spend $2,000 in the first 3 months.
  • Mastercard® Business Cash Card: The Business Cash Card lets you earn cash back every time you use your card. You’ll get 3 percent back on eligible purchases from office supply stores, phone, and TV services, 2 percent on eligible restaurant and gas purchases, and 1 percent on all other eligible purchases. As a bonus, you’ll get $25 cash back after your first purchase.

Pros and Cons of Comerica Bank Business Credit Cards:

All cards come with expense management tools, EMV smart chip technology for added security, and mobile payments in store, online, and in app using Apple Pay®, Google Pay™, and Samsung Pay. In addition, there’s no extra fee for adding employee cards.

Rewards cards also come with introductory bonuses that allow you to earn extra points or cash back. There’s no limit on the total cash back you can earn, and you have five years to redeem for rewards.

The primary drawback of these credit cards is that new customers must visit a Comerica Bank office to apply. This may be inconvenient for some, especially if you’re not located near a Comerica branch. In addition, Comerica doesn’t offer an introductory APR period like many of its competitors.

How to Apply and Qualify for the Comerica Bank Business Credit Card:

To apply for one of Comerica Bank’s business credit cards, new Comerica customers must visit a Comerica branch. Current Comerica customers can visit a branch or apply online through Comerica Web Banking®.

Comerica Bank doesn’t specify a minimum credit score to qualify for one of their business cards. However, Comerica has been praised for offering low starting APRs relative to other credit card providers for customers with higher credit scores.

Conclusion: Earn Rewards While Benefiting from Comerica’s Award-Winning Security and Financial Management Tools

With four distinct business credit card options, Comerica Bank offers something for everyone, regardless of your business needs and spending habits. The reward cards allow you to rapidly earn points and cash back, especially if you make frequent purchases in certain categories. You’ll also get a boost when you open your card, since all rewards cards come with an attractive introductory bonus.

On the other hand, if paying down your credit card balance is your top priority, the Business Platinum Card may be your best bet. This card offers a lower interest rate to keep your debt under control. In all cases, you’ll have access to Comerica’s suite of expense management and mobile payment tools, as well as industry-leading chip technology that provides an extra layer of security.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Post by: Fora Financial
Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].