A new slate of credit cards will offer enhanced rewards to BMW owners.
About the New BMW Mastercard and More:
This week, U.S. Bank announced the debut of redesigned credit card products from BMW, MINI, and BMW Motorrad. Each of these new cards features rewards tailored to BMW/MINI drivers — including the ability to double the value of earned points.
First, the BMW Mastercard, MINI Mastercard, and BMW Motorrad Mastercard each earn 3x points on eligible purchases from their respective brands. Additionally, the cards earn 3x points on gas, 3x points on EV charging, and 3x points on tollways (including bridge tolls). All other purchases earn 1 point per dollar spent.
What’s more, points are worth twice as much when redeemed toward an eligible BMW Financial Services loan or lease. That means that 10,000 points could be used for a $200 BMW reward. Meanwhile, the same points would be worth $100 in cashback.
With the launch of these cards, a new welcome bonus is also currently in place. Right now, new BMW/MINI/BMW Motorrad Mastercard customers can earn 10,000 bonus points after spending $500 on the card within the first 90 days. Additionally, cardholders can enjoy 0% interest on eligible purchases and balance transfers for the first 12 billing cycles (a balance transfer fee of 5% with a $5 minimum may apply).
The BMW Mastercard and its sibling cards have no annual fee.
What They’re Saying:
Discussing these new products, U.S. Bank’s head of co-brand cards Tanuj Suri stated, “BMW is the leading premium automotive brand that has created fierce loyalty with its customers. U.S. Bank’s upgraded BMW-branded credit card is designed to reward this loyalty. Our compelling new card benefits enable BMW customers to earn rewards rapidly when they make everyday purchases, but especially for BMW purchases.”
Suri continued, “Those rewards multiply when used for BMW products and services, including the ability to automatically apply rewards against a BMW Financial Services Loan.”
My Thoughts:
For BMW/MINI/BMW Motorrad (which is motorcycles, as I learned) drivers, these cards could actually be pretty lucrative. The combination of earning 3x on things like maintenance as well as gas, coupled with the double value on loan repayment redemptions, gives customers a pretty solid return. Plus, paying off a car loan is a pretty practical use of credit card points. Then again, I’m not sure how many Bimmer owners and leasees are concerned with practical personal finance habits…
One small downside is the welcome bonus. While a $500 minimum spending requirement is low, so is the 10,000 points reward. However, if redeeming for double value, suddenly the $200 return is quite respectable. In fact, I’d say that it’s really only worth getting this card if you’re willing to commit to the doubled redemption.
