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Chrysler Rewards MasterCard Credit Card Review - Can You Redeem Points For A Chrysler?

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Editor's Rating:
Intro Purchase APR Regular APR Intro Balance Transfer Annual Fee Credit Needed
N.A. $0* Good
Executive Summary - One of the four card in the Chrysler family group. This card distinguishes itself by allowing you to use points to get a new or used Chrysler, as well as for their services and accessories. But should you get this card is you are thinking of getting a Chrysler for your next car? Let's find out.

Summary - The Chrysler Rewards Visa credit card used to be affiliated with Bank of America. But it is now issued under First Bank of Omaha. The features have been revamped. So let's take a detailed look at this card.

Reward Formula - The new Chrysler Rewards MasterCard allows you to earn 3 points for every dollar that you spend on spent on qualifying purchases made at Chrysler Group dealerships - includes parts, repairs, accessories and maintenance. You will earn 2 points for every dollar that you spend on qualifying travel purchases and the standard one point for other regular purchases. To be more precise, qualifying travel means that your purchase are made whose merchant category code is classified with MasterCard® as AirLines, Air Carriers, Cruise or Steamship Lines, Travel Agencies, Tour Operations, Travel Services, Hotels, Motels, Resorts, Central Reservation Services and Lodging.

What Can You Use Reward Points For? - You can use your reward points for new tires, Chrysler gear, even oil changes. Or choose from hundreds of other rewards, including gift cards and cash back.

Fees and Rates - The is no annual fee for the Chrysler Rewards MasterCard.

What Can You Use The Points For?

The points that you earn can be used for several things. Firstly, You can use it for in-dealership purchases. This is defined as all purchases made in FCA US dealerships or FIAT studios, including parts, service, merchandise and vehicle payments. This also includes lease payment, full vehicle purchase and the purchase of certified used vehicles.

You get the best bang for the buck for using your point for in-dealership purchases. For example, if you use your card to pay a $3000 deposit for a car, you will earn 9000 points. If you are the type of person that likes to have your services at the dealership, then using this card is also a great idea since you earn 3X points. The value of the points that you earn at the dealership is one percent (ie 1,000 points is worth $10).

You can also redeem your points in other ways like gift cards, cash back or merchandise. But we would advice against that as the value for redeeming points this way is less than 1%. For example, if you redeem points for gift cards, it is 0.95%, 0.86% for cash back and 0.8% for merchandise.  

Chrysler Rewards MasterCard Peer Comparison

Before we compare this card with its' peers, let's compare it with the older version (ie when their card was a Visa and still issued by Bank of America). The old Chrysler Visa actually allowed you to earn 5 points on not just Chrysler, but also on Jeep and Dodge purchases. And you could redeem it for a purchase or leases of a new or 5-star pre-owned certified Chrysler vehicle from either Chrysler, Jeep or Dodge. You can also use them for parts and services etc. So as far as this new card goes, I see a slight step down in terms of rewards (common in many credit cards these days), though they make it up by offering double points on travel expenses and allowing you to earn cash back and other rewards.

When we compare it to other auto credit cards, the offerings appear to be pretty standard. Many offer 3 points for purchases at their dealership and allow you to use points for services, repairs and accessories at dealerships. The only card that still allows you to use points for new vehicles is the GM Card.

Chrysler MasterCard - Worth Getting?

Verdict - I am generally not a fan of auto rewards credit card. But for folks who think they will spend a lot of money at dealerships and do not want to feel the pain when there is a repair, such cards may be worth considering. The Chrysler Rewards MasterCard will obviously appeal to fans of Chrysler vehicles. If you are a big fan of Chrysler and feel you want to use reward points repairs and servicing then go ahead and get this card. But if you have new Chrysler and it is still under warranty, I see little reason to consider this card. Instead, getting a cash back card makes more sense.


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