Review: The 2013 Chrysler Credit Card Rewards Not Worth It

Chrysler Rewards CardQ: As someone who’s the proud owner of a 2013 Chrysler 300 SRT8, would it be beneficial to apply for their credit card? The dealership gave me an application and said I could use the MasterCard points to pay for service there.

A: Sweet car, but not a sweet card. Why? Because the points are only worth 1 penny a piece. You will notice the application is conveniently silent about this, or at least the one I looked at was. What I did was call up customer service (1-888-295-5540) to find out the point value and this is what she told me (I’m paraphrasing here because I couldn’t type everything while she was talking):

“You can redeem your points at any participating Chrysler dealer and use them in the form of a vehicle discount, parts, or service. Each 2,500 points equals a $25 credit. For example, if you had a $40 oil change and wanted to redeem 2,500 points, the dealership would log into a website and deduct the points from your Chrysler credit card account. With 2,500 points, that would equal a $25 discount which would mean your $40 oil change would cost $15.”

I then asked if there are any ways to redeem that could be worth more than a penny per point. For example, if you saved up a bunch of them, do you get more bang for your buck? Unfortunately she said no. I can’t say I’m surprised though because that’s pretty typical for cards that come from First National Bank of Omaha.

So it’s basically a cash back card for Chrysler purchases

That means you’re essentially earning 1% (1 pt) on regular purchases, 2% (2 pts) on travel purchases, and 3% (3 pts) for “qualifying” purchases made at the dealership (which includes repairs, parts, maintenance and accessories).

Now the 3% at the dealer is actually pretty good, especially considering that there are no caps on how many points you can earn. But aside from your car purchase (which I doubt you’re buying with your credit card) how much do you really spend at the dealer? Probably not much, especially if you drive a newer vehicle that’s still under warranty.

So that aside, it’s basically a flat 1% on spending and 2% on travel. That’s not awful but it’s nothing to write home about. I would imagine most people would be better off skipping the Chrysler rewards card, and instead, getting a regular cash back or airline card. At least that’s my opinion.

This article was written or last updated May 23, 2013

 
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