Complete Chrysler Mastercard Review

The benefits explained

• Bonus certificate for the purchase of a vehicle: Cardholders can get a bonus certificate worth $1,000 towards the purchase of a new FCA US vehicle after spending $7,500 on the card in the first year. However, there are limitations on the eligible models, so it’s worth checking out the list if you have a particular one in mind. FCA’s other American brands are Jeep, Dodge, Ram and Fiat.
• No annual fee: There’s no annual fee with the Chrysler Mastercard, so there’s no worry about whether the rewards will outweigh the fees.
• Introductory price on select purchases: This card offers a continuous 0% APR for six billing cycles for purchases at an FCA US dealership of $499 or more. Each time cardholders make a qualifying purchase, they receive the introductory APR rate of 0% on that balance for six billing cycles.
• $100 statement credit: Cardholders who make FCA US purchases of $100 during the first billing cycle will receive a $100 credit on their statement. These purchases must be made at participating dealerships, such as for parts or service.

Disadvantages Explained

• 5% cash back only available at the dealership: Although there is a 5% cash back category with the Chrysler Mastercard, it applies only to vehicle service, merchandise or other qualifying purchases made at an FCA US dealership. Some other cards, like the Discover it card, offer 5% cash back on rotating categories that are more likely to be used for day-to-day expenses.
• Foreign transaction fees: This card charges a 3% foreign transaction fee on purchases made outside of the United States. So if you’re planning a trip abroad, it might make more sense to consider a card like the Capital One SavorOne card, which has no foreign transaction fees.
• Rewards expire: With the Chrysler Mastercard, your rewards expire seven years after they were awarded, so it’s important to remember to redeem them, if possible.

The Chrysler Mastercard would be best for someone planning to buy a new car from one of the FCA USA brands. One of the card’s most attractive benefits, the $1,000 bonus certificate, can only be used for this purpose.

For Chrysler loyalists, this card may also mean something, especially if they regularly bring their vehicles in for servicing at the dealership. This makes them eligible for the highest rewards tier of 5% cash back.

On the other hand, people who aren’t planning on buying a new car soon and often go elsewhere for service will get less from this card than they would from many others. While it offers 2% cash back on gas and travel, there are cards that reward everyday purchases more generously.

For example, Capital One’s SavorOne card offers 3% cash back on dining and entertainment purchases, as well as grocery store purchases. The Bank of America Travel Rewards visa offers 1.5 miles (equal to 1.5%) for every dollar spent, regardless of category, making it versatile for everyday use. Plus, it has no foreign transaction fees and no worries about points expiring.

Chrysler Mastercard Bonus

This card comes with two different bonuses. You can get a $100 credit by spending $100 at the dealership in the first billing cycle. You can also win a bonus of $1,000 if you spend $7,500 on the card in the first year. The $1,000 bonus can be used toward the purchase of a new FCA US branded vehicle.

While the $100 statement credit is pretty dull, since it only applies to purchases made at the dealership, the $1,000 bonus certificate can be invaluable if you’re planning on buying a car.

Reward Earnings Details

Earning rewards with the Chrysler Mastercard is quite simple. Qualifying purchases made at the dealership earn 5% cash back, while qualifying gas and travel purchases earn 2% cash back. Everything else earns 1% cash back.

While cash back is expressed as a percentage of purchase, rewards are actually awarded in points. Let’s say an oil change for a Chrysler 300 costs about $145. If this service is performed at a dealership four times a year, it would cost $580. At the 5% cashback rate, that translates to 2,900 points or $29 in rewards.

Reward Redemption Details

Cardholders can redeem rewards for cash back, travel, or gift cards by logging into their credit card account and choosing their redemption options.

They can redeem points for certain rewards even if they don’t have enough points to cover the full amount. For example, a cardholder could invest 1,000 points in a reward and then use the Chrysler Mastercard to pay off the remaining balance.

Cardholders can choose to receive cash back as a statement credit or through a ACH transfer into their current or savings account.

How to maximize your rewards

The best way to maximize rewards is to be a loyal Chrysler customer and use the card every time you visit the dealership for service. It may also be worth using it for gas and travel to earn the 2% cash back in those categories. Other cards that offer 2% or 2 points per dollar on travel are often cards like the Chase Sapphire Preferred, which come with an annual fee.

Outstanding Chrysler Mastercard Benefits

• Opportunity to win a $1,000 bonus certificate for a new car

Standard Benefits

• Zero liability in case of fraud
• Improved smart card

Cardholder Experience

The Chrysler Mastercard is issued by First Bankcard, which is a division of First National Bank of Omaha. This bank is not ranked in JD Power’s credit card studies. However, it is ranked in the 2021 U.S. Retail Bank Satisfaction Study. The First National Bank of Omaha ranked number four in the Lower Midwest region.

Cardholders have access to online and mobile banking, paperless statements and account alerts. Plus, they can access their FICO credit score for free at any time.

Security functions

In addition to providing $0 liability for fraudulent purchases, the Chrysler Mastercard offers fraud monitoring and its issuer will send alerts if there is a suspicious issue. The card is also chip-enhanced, adding another layer of protection.

Our opinion

Unless you plan to use it for the $1,000 rebate on buying a new car, there’s not much to this card. The 5% cash back is only available at dealerships, so if you’re not spending a lot of money there, you’ll likely get better results with a card like the Discover it card, which offers cash back 5% on rotating categories.

The 2% cash back on gas and travel can also be matched or exceeded by other cards offering 2% and 3% cash back in common categories such as groceries, gas, restaurants and entertainment.