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The Chrysler Rewards Visa Credit Card was last reviewed on : 28th September 2006
Summary - The Chrysler Rewards Visa credit card is a reward credit card that will appeal to the current or future Chrysler vehicle who wants to earn reward points to save on their futurer Chrysler purchases. Let's explore this card in greater detail.
Reward Formula - The Chrysler Rewards Visa Card is a very good auto reward credit card. You earn 5 points for every dollar you spend on Chrysler, Jeep or Dodge purchases at their respective dealership and 1 point for every dollar you spend on other purchases. You can earn unlimited points. Points are valid for 5 years. You also get a singing bonus of 2,500 points after your first purchase with the card.
The best feature about the Chrysler credit card is the fact that you can use them to purchase or lease, a new or 5-star pre-owned certified Chrysler vehicle from Chrysler, Jeep or Dodge. You can also use points for parts and service at Chrysler, Jeep or Dodge dealerships, extended warranties, Motor parts and Dodge accessories and other branded merchandise by these companies. You can earn unlimited points, which is valid for 5 years.
Fees and Rates - The is no annual fee for the Chrysler Rewards Visa. The APR is either Prime Rate plus 5.99%, 7.99% or 9.99%. You get an introductory APR of 1.90% for 6 billing cycles for both purchases and balance transfers. The average daily balance method is used to calculate monthly balances.
Verdict - Like all of Bank of America's other auto credit card, the Chrysler Rewards Visa is attractive because you can earn 5 points for expenditure on at Chrysler, Jeep or Dodge dealerships and also because you can use points to buy or lease even a used certified pre-owned vehicle. There is also no annual fee and you can potentially get a low APR. We recommend the Chrysler Rewards Visa to those who want to use their reward points for their favorite Chrysler.
PositivesLow APR if you qualify No annual fee Flexible - can buy or lease, new or used vehicle Earn 5 points for auto or auto related purchases Earn unlimited points
Negatives
Points expire in 5 years
| Chrysler Rewards Visa Card | | Reward Benefits | | Bonus Points | 2,500 points upon first purchase | | Reward Formula | Earn 5 points for every dollar you spend at Chrysler, Jeep or Dodge Dealerships
Earn 1 point for every dollar you spend on other purchases | | Caps on Points | Earn unlimited Points | | Points Expiry | 5yr | | Travel and Insurance Benefits | Up to $1,000,000 Automatic Travel Accident Insurance
Auto rental insurance
Lost ticket and luggage replacements | | Other Benefits | Zero Liability from unauthorized use of your card
Purchase Replacement1, which provides for repair or replacement for covered purchases that are stolen, damaged or lost at a known location, within 90 days of the date of purchase
Purchase Guard1, which will double the manufacturer's original United States (U.S.) warranty period for covered purchases with a warranty duration of 1 year or less | | Cost/Fees/Interest rates | | Introductory rate | 1.90% introductory APR for 6 months (purchase and balance transfers) | | Annual Fees | No annual fee | | Purchase APR | Prime Rate plus 5.99%, 7.99% and 9.99% | | Balance Transfer APR | Prime Rate plus 5.99%, 7.99% and 9.99% | | Cash Advance APR | Prime Rate plus 15.99% | | Penalty/Default Rate APR | Prime Rate plus 23.99% | | Min Finance Charge | $1.50 | | Grace Period | 20 days | | Balance Calculation Method | Average Daily Balance (including new purchases) | | Cash Advance fee | 3% min $10.00 | | Foreign Currency Conversion fee | 3% | | Over-the-credit-limit fee | $15 for balances less than or equal to $500
$29 for balances $500.01 to $1000
$39 for balances greater than $1000 | | Late Payment fee | $15 for balances less than or equal to $100
$29 for balances $100.01 to $250
$39 for balances greater than $250 |
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