The Bank of America Chrysler Rewards Visa Credit Card

The Bank of America Chrysler Rewards Visa credit card is a platinum credit card designed for those with good to excellent credit standing. The point-rewards program of this card works in conjunction with Chrysler, Jeep and Dodge dealerships to provide cardholders with special discounts at these participating dealers. For cardholders with an interest in these vehicles or plans to purchase one in the near future, the rewards system of this card can be a beneficial tool.

With the Chrysler Rewards Visa card, members earn 1 point for every dollar spent on general purchases, and 5 points for every dollar spent at a Chrysler, Jeep or Dodge dealership. Cardholders also receive a bonus of 2,500 points at the time of the first purchase. Points are accumulated and can be redeemed towards the purchase or lease of any new, used or Five Star Certified Pre-Owned vehicle at a Chrysler, Jeep, or Dodge dealership. Members may also redeem their points towards parts or services offered by these dealerships. Parts and services include oil changes, tire rotations, tune-ups, body work, and more. There is also the option of redeeming points towards an extended vehicle warranty, for Mopar Parts and Authentic Chrysler Accessories by Mopar, or for other branded merchandise. Points may easily be redeemed online or at participating locations. There is no limit on the number of points that can be earned in a year, and points are good for five years after the date they are earned.

In addition to a strong rewards program, this card offers members an introductory APR of 1.9% for the first six months. After the introductory period, the variable APR takes hold. In general, the rates on this card are reasonable but not particularly low, and those with lower credit scores may want to think about a card with lower finance charges, particularly if they are planning on carrying a balance from month to month. Provided the cardholder has good credit standing, and pays the balance due each month whenever possible, the rates are not a problem, although other rewards cards may offer lower numbers. For many, the benefits of this specialized rewards program will outweigh the possibility of slightly higher finance charges.

To its advantage, this card does not have an annual fee, and all other charges associated with usage are standard, including a $35 over-credit-limit fee and late payment fees ranging from $19 to $39.

Because the Chrysler Rewards Visa is a platinum credit card, it offers members standard platinum benefits, including travel insurance, auto rental insurance, emergency travel and medical services, extended warranties on certain purchases, and zero liability for unauthorized charges.

For anyone interested in making purchases at Chrysler, Jeep and Dodge, the benefits program of this card can be very valuable. Those with high credit ratings who tend not to carry a balance on their card, and who will take advantage of the reward points, will benefit from this card and find that it is worth the investment. Others may want to keep looking for a card with lower rates or a less specialized rewards program.