BMW Card: Earn up to 4X in German-Engineered Rewards

BMW Card Review

The BMW Card is a co-branded auto and retail credit card with the luxury German automaker Bavarian Motor Works (BMW). Elan Financial Services issues the cards, which operate on the Mastercard® payment network. As a robust auto rewards card, the BMQW Mastercard earns points whenever they make purchases. This card features points tiers by which you earn different amounts of points for different types of purchases, with dining aficionados and daily commuters likely the happiest consumer segments.

Introductory Bonuses

New accounts can earn 5,000 bonus points when they sign up. They must spend $500 in purchases with their new card within the first 90 days after approval.

There are also two 0% intro APR offers that accelerate the value of the BMW credit cards. That intro APR offer is 12 months with no interest on purchases or balance transfers. While rewards cards are not the best for transferring balances, the APR with this card is competitive enough to make it an acceptable decision.

How to Earn Rewards

Earning points with the BMW Card is fairly straightforward. Yes, there are tiers. However, they are pretty easy to remember, with cardholders earning 4X points per $1 spent on BMW purchases, 3X on gas, 2X on dining, and a flat rate of 1X on all other purchases made with the card.

Regarding BMW purchases, you can earn those 4X points when you pay for parts, service, maintenance, or accessories – a great feature.

Limitations of Earning Rewards are Frustrating

Now, things get a little more complicated where merchant categories are concerned. You see, you don’t earn points on the type of item you purchased but rather the place where you purchased the item from.

For example, you will not earn 4X points if you buy a used BMW at CarMax or through a private dealer. You must purchase at a licensed BMW retailer. Similarly, your gas and dining purchases must be at gas stations and restaurants to qualify for extra points. This means you may not earn 3X points when purchasing gas at a supermarket pump. Additionally, buying a meal at a supermarket may not earn you 2X points, either.

There are other limitations to earning points, too. As with most rewards cards, you won’t earn points on balance transfers and cash advances. This card also includes restrictions on earning points for gambling purchases, including lottery tickets. Moreover, Elan Financial may take away points if it believes you are “abusing” your credit card. This may include excessive gas purchases, for instance.

BMW Credit Card Comparison

	BMW Mastercard	BMW Motorrad Mastercard	BMW Precision Mastercard
Annual fee	$0	$0	$99
Rewards on BMW purchases	4X	4X	5X
Other rewards	3X on gas, 2X on dining, and 1X on everything else	3X on gas, 2X on dining, and 1X on everything else	3X on gas, 2X on dining, and 1X on everything else
Credits	N/A	N/A	$70 dealership credit
0% intro APR	12 months on purchases and balance transfers	12 months on purchases and balance transfers	N/A
Other	N/A	N/A	Priority Pass Select
Network	World Mastercard	World Mastercard	World Elite Mastercard

How to Redeem Points

There are no caps on how many points are earned with the BMW Card. However, points expire roughly five years after earning them. They expire at 11 PM at the end of the calendar quarter, five years from the quarter the points were earned.

Cardholders can redeem BMW points for several award options:

You can redeem your points for BMW purchases or through the rewards catalog on MyBMWCreditCard.com. However, redeeming your points for BMW purchases increases the value of your points by 25%. The BMW site has a tool to calculate how many points you’ll earn when you spend a certain dollar amount and what those points will earn you.

What’s great about redeeming points with the BMW card is that you can use your points for any purchase at a BMW dealership and even online. This includes auto purchases and leases and services, parts, and accessories.

The downside of the BMW card is that applicants can’t find out what’s available in the rewards catalog. You cannot access the catalog until you sign up for the card. This feature is becoming increasingly popular with many rewards cards, but it doesn’t make it any less frustrating.

Mastercard Benefits

As noted, the BMW credit cards are Mastercard products. The basic, no annual fee BMW Mastercard is a World Mastercard product, meaning cardholders enjoy an elevated level of service and protections, including the following:

Elan Financial Ratings

How does Elan stack up as a credit card issuer? Here is a selection of ratings for the bank:

Should You Apply for the BMW Card?

Regarding auto rewards cards, the BMW Mastercard® may be a slight step above the rest. This may be due in part to the issuer, Elan Financial. Many other auto cards feature another credit card issuer, like Synchrony.

The APR range for this credit card is very reasonable. The lower end of the spectrum competes with some non-rewards cards. However, these lower APRs will only apply to applicants with excellent credit ratings. If you own a BMW, this card can be a great asset. You can earn points almost anywhere and use them to pay for maintenance or repairs.