Automobile Rewards Credit Cards: Chrysler MasterCard Review

Earn Triple Points on Chrysler, Jeep and Dodge Purchases

Chrysler MasterCard
Credit: http://fcamastercard.com/apply-now

With the Chrysler MasterCard, you can redeem points for parts, service or a new Chrysler, Jeep or Dodge vehicle.

Chrysler MasterCard Basics

The Chrysler MasterCard was designed for Chrysler, Jeep and Dodge customers who want to earn credit card rewards toward future dealership purchases. Credit seekers with a good or excellent credit score (600+) have a good shot of being approved for this card.

This card offers 0 percent APR on purchases for first six months, then the purchase rate of 16.99 percent on purchases and balance transfers after the introductory period.

But beware: With a misstep, your rate can quickly increase for 29.99 percent, which is the card's penalty APR.

Chrysler MasterCard Fees 
Annual FeeNone
Balance Transfer Fee5 percent of balance
Late Payment FeeUp to $35
Returned Payment FeeUp to $35

 

Pros and Cons of the Chrysler MasterCard

Like any credit card this MasterCard comes with it's advantages and disadvantages:

Pros

  • No annual fee.
  • No limit on points earned.
  • Points don't expire for seven years.

Cons

  • For Chrysler, Jeep and Dodge loyalists only.

The Card's Rewards

For regular Chrysler, Jeep and Dodge customers, this credit card comes with some good rewards:

  • Three points per dollar on purchases at Chrysler Group dealerships, including parts, repairs, accessories and maintenance
  • Two points per dollar spent on travel purchases
  • One point per dollar on everything else

Chrysler MasterCard Review

With this loyalty rewards credit card, you earn three points per dollar on qualifying purchases made at Chrysler Group dealerships, including parts, repairs, accessories and maintenance.

You also earn two points per dollar on qualifying travel purchases, and one point per dollar on all other spending.

You can use your points to buy new tires, discounts on service and parts, and oil changes at Chrysler dealerships, or to purchase or lease a new Chrysler or Fiat vehicle (at participating dealerships).

You can also redeem them for "hundreds of other rewards," including gift cards and cash back.

The problem with the card is that it's not clear what exactly is meant by "qualifying." For example, if you want to buy a new Chrysler vehicle and pay for all or part of it with this card - thus racking up points toward you next vehicle - can you do that? It's not clear. The fine print states ominously: "We reserve the right to determine whether any transaction qualifies as a Qualifying Transaction and our determinations shall be final." Don't start earning points unless you know for sure you can use them later.

There's no limit on the number of points you can earn, and points expire on a first-in, first-out basis after seven years.

The card comes in Chrysler, Jeep, Dodge and Ram varieties. There's no pre-set spending limit, although your actual limit will be at the discretion of the card issuer, First National Bank of Omaha.

Recommendation

If you're looking to buy a Chrysler, Jeep or Dodge vehicle soon, and want to earn rewards toward your next car, check with the dealership to see if you can use this card to pay for part of it. If so, you may be able to knock some serious dollars off your next car.

Just be sure you can pay off the balance, or get low-rate financing to pay it off.

Both the Toyota Rewards Visa and the Lexus Pursuits Platinum Visa let you do that, although there are limits on the number of points you can earn and redeem on a new card.

As far as automobile rewards cards do, the new Chrysler MasterCard isn't nearly as good as the GM Flexible Earnings Card, which gives you 3 percent back on all of your spending, not just at GM dealerships, which you can use toward a new car. But which card you prefer really depends on which manufacturer's cars you prefer.