5 Things to Know About BMW Credit Cards
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BMWs are expensive to buy and maintain.
Still, for many car enthusiasts, the thrill of gripping the wheel, inhaling the leather-tinged new-car smell and zipping around town in a head-turning feat of German engineering makes those monthly payments worth it.
There’s an additional way to show your Beemer loyalty — by using BMW credit cards. The cards, previously issued by BMW Bank of North America, have been revamped with new names and rewards programs. They are now issued by Elan Financial Services, a division of U.S. Bank, and have been moved from the Visa network to Mastercard.
BMW Credit Card: $0 annual fee.
BMW Precision Credit Card: $99 annual fee.
BMW Motorrad World Mastercard® Credit Card: $0 annual fee.
While they’re associated with the luxury car brand, the cards' details vary. Here are five things to know about them.
1. They earn rewards on more than just BMW-related expenses
The previous versions of BMW credit cards mostly earned additional points on BMW purchases and at gas stations, but the new family of cards added another spending category to the mix: restaurants, including fast-food establishments.
The BMW Credit Card earns:
4 points per $1 spent on eligible BMW purchases.
3 points per $1 spent at gas and EV charging stations.
2 points per $1 spent at restaurants.
1 point per $1 everywhere else.
There's also a sign-up bonus: Earn 5,000 Bonus BMW Reward Points after you spend $500 in purchases within the first 90 days of account opening.
The BMW Precision Credit Card earns:
5 points per $1 spent on eligible BMW purchases.
3 points per $1 spent at gas and EV charging stations.
2 points per $1 spent at restaurants.
1.5 points per $1 everywhere else.
The sign-up bonus is as follows: Earn 7,500 Bonus BMW Reward Points after you spend $1,000 in net purchases within the first 90 days of account opening.
Both cards have solid rewards, but you can do even better in some categories — without paying a cent. The $0-annual-fee Wells Fargo Autograph℠ Card earns an unlimited 3x points on restaurants, travel and transit, gas and EV stations, popular streaming services, and select phone plans.
2. There's a card for two-wheel BMW enthusiasts, as well
The BMW Motorrad World Mastercard® Credit Card offers similar rewards to the BMW Credit Card, but its focus is on motorcycle purchases and maintenance. The card earns:
4 points per $1 spent on eligible BMW Motorrad purchases.
3 points per $1 spent at gas stations.
2 points per $1 spent at restaurants.
1 point per $1 everywhere else.
It, too, has a sign-up bonus: Earn 5,000 bonus BMW Reward Points after you spend $500 in purchases within the first 90 days of account opening.
3. Redemptions are flexible and valuable
Redeem your points for travel, cash back and merchandise at a value of 1 cent per point.
For a value of 1.25 cents per point, redeem for a BMW Rewards Card, which you can use at BMW Centers and BMW Motorrad dealerships to pay for a broad variety of purchases, including down payments, service and repairs.
4. The BMW Precision Credit Card offers additional perks
In exchange for the $99 annual fee, the BMW Precision Credit Card throws in a few more benefits that can help offset the cost:
A $70 annual dealership credit, which will automatically be applied to your account as a statement credit when you use the card for a purchase at BMW Centers or BMW Financial Services.
A higher sign-up bonus compared with the other two cards (though you need to spend more to earn it).
More point-earning potential with 5 points per $1 on BMW purchases and a minimum of 1.5 points otherwise.
0% foreign transaction fee.
5. The BMW Credit Card and BMW Motorrad World Mastercard® Credit Card have 0% APR promotional periods
Give yourself time to pay down your BMW purchase interest-free. Both the BMW Credit Card and BMW Motorrad World Mastercard® Credit Card charge 0% intro APR on purchases and balance transfers for 12 billing cycles, and then the ongoing APR of 20.49%-29.49% Variable. The balance transfer fee is 3% or $5, whichever is greater.
The BMW Precision Credit Card doesn’t offer a 0% APR period.
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