Review: The 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

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

No comments yet.