Looking for a discount on your next new or used vehicle? A credit card issued by a bank associated with the car or even motorcycle manufacturer may be the answer for you. Whether it’s new or used, you could save up to thousands of dollars on your next purchase of a vehicle.
Which credit card is right for you depends on your own personal tastes. Besides the reward points or whatever they are labeled, other features such as extended warranties, sweepstakes, concierge services, custom cards, built-in accident insurance, introductory low APRs can be just as important, if not even more in determining your selection.
Toyota Rewards VISA
Introduced only in October 2008, the Toyota Rewards VISA offers a hefty 5% points for every $1 spent at participating Toyota dealerships, 1 point for every $1 spent everywhere else that VISA is accepted, 2,500 Bonus Toyota Rewards Points upon first purchase and a special introductory 0% APR on purchases for the first six billing cycles. Couple that with no annual fee, this is the credit card for the loyal Toyota customer.
BMW Platinum VISA
BMW gives their Platinum VISA cardholders 1 point for every 2 dollars spent with no point cap, though there is a limit of $5,000 off the purchase of a vehicle. Points can be applied towards maintenance and other services provided by BMW dealers. A Performance Plus option available for $50 per annum matches 1 point for every 1 dollar spent. The points can be redeemed at many locations such as airlines, hotels, and even in stores like Macy’s and Bloomingdale’s.
Harley-Davidson USBank Card
The Harley-Davidson credit card earns 1 point per dollar spent, so $2,500 in purchases gives you 25 Harley Chrome Cash bucks towards Harley-Davidson services or merchandise. One lucky card member wins a new H-D motorcycle each month in the H-D Visa Free Ride Sweepstakes. Receive a $10 Harley Chrome Cash certificate when you open up a new account. Members can even get a custom H-D Visa Picture Card with their favorite picture put on the card when an appropriate picture is mailed to Harley-Davidson.
Subaru Platinum MasterCard
The Subaru Platinum MasterCard offers a generous 3% Subaru Reward Dollars on all purchases subject to a payout limit of $500 per year. As an incentive to lure new Subaru credit card applications, Subaru gives a 25 Subaru Reward Dollars bonus after the first purchase plus a 0% introductory APR for the first six billing cycles. Subaru Reward Dollars can be redeemed for parts and service at Subaru dealers, as well as purchases towards new or used Subaru vehicles.
Lexus Signature VISA
The basic Lexus Signature VISA card credits your statement with five points for every dollar spent at a Lexus dealership, and 1.5 points for every dollar charged elsewhere, which is generally 50% more than other cards give. There is no annual membership fee and the first six billing cycles charge you no interest at all. The card also includes VISA’s signature service package with concierge-type assistance and many other personal touches befitting a luxury automobile.
Chrysler Rewards VISA
With the Chrysler Rewards VISA, cardholders earn five points for every dollar charged at Chrysler, Jeep or Dodge dealerships and one point per dollar at other places. Unlike most other automotive credit cards, these points can be redeemed for a new or used Chrysler. The Chrysler Rewards card has no annual fee and no caps, though points expire after five years.
Mini-Cooper Platinum VISA
The Mini Platinum VISA card allows holders to customize their credit cards to look exactly like their own Mini. Wheels, mirrors, add-ons and colors can be configured to make your Mini card unique. Mini Motoring Rewards offers users one point per every dollar spent and two points for car washes, gasoline, tolls and similar car-related purchases. Cardholders earn up to $10,000 off their next Mini purchase or lease ($5,000 off on a purchase or lease and an additional $5,000 off if financed by Mini Financial Services).
GM CapitalOne Card MasterCard
This new card is issued by CapitalOne and you can make purchases up to your credit limit and pay NO interest charge for the first 12 months, as long as you pay the minimum balance each month. You get a hefty 5% earnings on the first $5,000 in purchases and 2% Earnings on all other purchases for the rest of the year. However the points can not be be redeemed for cash, but only on purchases of an eligible GM vehicle.
For others who prefer a cash reward card, GM offers the GM Extended Family Card, which allows points to be redeemed for cash, but only at 1% per dollar spent. Businesses can get a GM Business Card that gives a combination of 5%, 3% and 1% rewards, which are much more than the interest rates major banks offer.
Audi VISA Signature Card
Audi’s exclusive VISA Signature Card rewards Audi owners with one point per dollar spent anywhere, and two points on all purchases at participating Audi dealers. Points can be redeemed for a new Audi and Audi parts, accessories and services. Though the Audi points program is on par with most issuers, perks such as concierge services and travel assistance help make the VISA Signature Card a great choice for the loyal Audi client.
Mercedes-Benz VISA Card
Administered by Bank of America, the no annual fee version of the Mercedes-Benz VISA card credits the card holder 5 reward points for every dollar spent at Mercedes-Benz dealership and one point per dollar spent elsewhere that VISA is accepted. After the first purchase an additional 2,500 bonus points are added to the account, plus no interest is due for the first six months after opening the account. The accumulated points can be redeemed at any Mercedes-Benz dealership as well as towards finance payments and even prepaid gas cards.
Volkswagen Platinum VISA
For every dollar spent on the Volkswagen Platinum Visa (subject to a $500 annual earnings cap), you receive one point that can be used toward Volkswagen purchases (new vehicles, accessories, service and parts). If you’re a devout VW owner and want to display VW on your credit card, then this is the one for you to have.
Honda Rewards VISA
For the loyal Honda owner, Honda together with Chase offers a way to save on their Honda purchases and services. The basics are 1 point per dollar spent with a generous limit of 60,000 points per year. The points can be spent on Honda purchases as well as other brand-name items. There is no annual fee and the first six billing cycles carry no interest charge, although a minimum monthly is still due.