With a car reward credit card, your credit card spending could be earning points towards a new car or vehicle related rewards. What reward is better than a brand new car? Here is a comparison of some of the top car reward credit cards.
GM Flex Card – 1% Cash Back or 3% Towards a New GM
A full 1% cash back option
Earn a full 1% toward any new vehicle
Triple your Earnings to 3% toward an eligible, new GM vehicle
No Annual Fee
The GM Flex Card has a name that speaks for itself. It has the flexibility of either cash back on all purchases or a vehicle rebate. You can use the rebate as 1% towards any non-GM vehicle, or 3% towards any eligible new GM vehicle.
GM Business Card from Chase – up to 3% cash back & rebates on GM vehicles
0% Introductory APR for up to 12 Months+
No Annual Fee
3% Earnings on fuel purchases, restaurants, office supply stores, and authorized GM dealers on
GM parts and service
1% earnings on all other purchases
No caps or limits
Free cards for employees
$600 statement credit with every purchase or lease of new GM vehicle through GM Business Choice program
The GM Business Card from Chase is aimed at businesses that require company vehicles. Even if your business doesn’t plan to buy a GM vehicle, this credit card could be used to save on gas, office supplies or meals.
The Subaru® Platinum MasterCard® from Chase – Earn SubaruBucks
0% Introductory APR on purchases and balance transfers for up to 6 months
No annual fee
3% Rewards on all purchases (up to $500/yr)
Redeem for Subaru merchandise and services
The Subaru® Platinum MasterCard® from Chase can used to save towards a new Subaru or Subaru parts & service. The annual reward limit of $500 is still high as that is over $16000 in annual credit card purchases. The rewards program is restrictive unless you plan to purchase a Subaru or if you actually go to the dealership for service.
Volkswagen Platinum Visa® Card with Rewards – Flexible Car Reward Credit Card
0% Introductory APR for up to twelve months
No Annual Fee
2 points for every dollar on VW purchases
1 point for every dollar spent on all other purchases
Redeem points for VW cars, gear, service, and other rewards
The Volkswagen Platinum Visa® Card with Rewards allows you to earn points towards a new VW, parts & service or even non-VW rewards. Other rewards include airline travel, hotel rebates, car rentals or gift certificates. You can even use your points towards an existing VW lease or loan.
Car Reward Credit Cards Comparison
The GM Flex Card is probably the best car reward credit card. It lets you choose cash back or vehicle rebates. Plus it has the lowest APR rate among these consumer credit cards. The Volkswagen Platinum Visa® Card with Rewards is a close second with a rewards program that might be even more flexible than GM’s. It just didn’t offer as high a vehicle cash rebate percentage. The Subaru® Platinum MasterCard® from Chase offered up to 3% rebates, but the rewards are restricted to Subaru related purchases. The Subaru credit card only has a 6 month 0% introductory rate compared to 12 months for VW or GM. For businesses, the GM Business Card from Chase is a good deal, especially if you purchase GM vehicles.
Most car reward credit cards are very good deals. Ideally a rewards credit card offers rewards relating to your interests. So if the vehicle you drive or plan to drive offers its own credit card, why not apply? If you’re proud of your vehicle, show it with your credit card. It could earn you special discounts, cash back and other perks. Most car reward credit cards have no annual fee either. So apply online today.