The bonus certificate worth $1,000, one of the most valuable perks that come with the card, can only be redeemed for that one specific thing. On the other hand, those with no immediate plans to purchase a new vehicle and who often travel elsewhere for servicing would get a lesser benefit from this card than what they would receive from many other cards. Even though it gives 2% cash back on travel and petrol expenditures, other credit cards provide more substantial rewards on day-to-day transactions.

This Card is Best For

For instance, the SavorOne credit card from Capital One DrivePlus awards 3 per cent cash back on purchases made at grocery shops and expenditures made at restaurants and entertainment venues. The Bank of America Travel Rewards Visa is a flexible option for day-to-day usage since it awards 1.5 miles (equivalent to 1.5%) for every dollar spent, regardless of the category in which the purchase was made. Additionally, there are no costs associated with making transactions in a foreign country and no need to worry about your points expiring.

Chrysler Mastercard Bonus

The dealership during the first billing cycle will give you a credit of one hundred dollars on your statement. You are eligible for an additional bonus of $1,000 if you use your card to make purchases totalling $7,500 during the first year of having the card. The one thousand dollar incentive may be used to purchase a brand-new car bearing the FCA United States brand. Suppose you are planning to purchase a vehicle. In that case, the $1,000 bonus certificate may be beneficial, especially compared to the $100 statement credit. It is pretty unimpressive, given that it can only be used for purchases made at the dealership.

Pros

• After spending $7,500 on their new credit card in the first year, cardholders are eligible for a bonus certificate worth $1,000 that may be used against purchasing a new vehicle from FCA in the United States.
• Since the Chrysler Mastercard does not have an annual fee, there is no need to worry about whether or not the benefits will justify the cost of having the card.

Cons

• A category on the Chrysler Mastercard offers a cashback rebate of 5%.
• When used for transactions made in a country other than the United States, the international transaction fee for this card is 3%.
• Rewards Earning Details

Rack-up rewards when using your Chrysler Mastercard are not too difficult. Cashback of 5% is awarded for qualified purchases made at the dealership, while cashback of 2% is awarded for qualified purchases of petrol and travel. The cashback rate for anything else is 1%. Although "cash back" refers to a certain proportion of the total amount spent, the real benefits are given as points. Imagine that a Chrysler 300 requires an oil change that costs around $145. The total cost of this maintenance would be $580 per year if it were performed at a dealership every quarter. That is equivalent to 2,900 points, which can be redeemed for $29 in rewards at the cashback rate of 5%.

Rewards Redemption Details

By signing onto their credit card account and selecting their preferred method of redemption from the available choices, cardholders may exchange their points for cash back, travel, or gift cards. Even if they do not have enough points to pay the full value of the prize, they can still redeem their points for part of the incentives. For illustration purposes, a cardholder might use 1,000 points toward the purchase of a reward and then use their Chrysler Mastercard to pay off the rest of the amount. Cardholders can receive cash back either as a credit to their billing statement or as an electronic funds transfer to their bank or savings account.

How to Maximize Your Rewards

The most effective strategy for maximizing rewards is to have a long-term relationship with Chrysler as a customer and use the card each time you visit a dealership for maintenance or repairs. Using the card for gas and travel expenses may also benefit you to receive 2% cash back on purchases made in those categories. Cards with an annual fee, such as the Chase Sapphire Preferred, are often the only ones that give rewards of 2% or 2 points for every dollar spent on travel. Other cards that offer such benefits include:

Cardholder Experience

First Bankcard, which is a part of First National Bank of Omaha, is the company that is responsible for issuing the Chrysler Mastercard. The J.D. Power credit card surveys do not rate this particular financial institution. Nevertheless, it ranks in the Retail Banking Satisfaction Study conducted in the United States in 2021. The First National Bank of Omaha was rated number four among financial institutions in the Lower Midwest.

Security Features

The Chrysler Mastercard, in addition to giving a zero liability policy for fraudulent transactions, includes fraud monitoring. The card's issuer will send notifications when anything unusual appears on the card's account. In addition, the card has a chip enhancement, which provides an additional degree of security.