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BMW Precision World Elite Mastercard

BMW Precision Card

Earn 7,500 BMW Reward Points

BMW Precision Card
  • Regular Purchase APR 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee $99
  • Credit Needed Excellent , Good
  • Processing Network Mastercard
Best Benefits
  • Earn up to 5X points per $1 on purchases
  • Get an annual $70 dealership credit
  • Get up to $1,000 in annual coverage for damage or theft of your cell phone
  • Free ShopRunner membership
  • No foreign transaction fees
Rates & Fees
  • Regular Purchase APR: 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR: 15.24% to 24.24% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: $99
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $35

At a Glance

The BMW Precision World Elite Mastercard is a premium auto rewards credit card from U.S. Bank and BMW. The card, which charges a $99 annual fee, offers 5X points on BMW purchases, 3X points on gas, 2X points on dining, and a flat rate of 1.5X points on all other purchases. The card also boasts a $70 annual dealer credit and no foreign transaction fees.

Ideal for Those Who:

  • Prefer to have their vehicle’s maintenance done at a BMW dealership
  • Travel frequently and make purchases abroad or in foreign currencies
  • Want an everyday card that offers versatility – for a price

BMW Precision World Elite Mastercard Review

The BMW Precision World Elite Mastercard is something of a rarity in the auto rewards credit card space. The card, from U.S. Bank and issued through Elan Financial Services, is strange in that it charges an annual fee of $99, where many auto cards feature no annual fee. Fortunately, it offers some impressive features that recoup that yearly charge.

How to Earn Rewards

First, the positives. The BMW Precision Card earns an impressive 5X points on eligible BMW purchases. This is more than the 4X points the basic BMW World Elite Mastercard earns. The card also earns 3X points on gas station purchases and 2X points on dining. All other purchases with the card earn 1.5X points per dollar spent.

The 1.5X points per dollar spent is an excellent perk that is reminiscent of the Discover It Miles Card. Sure, the 1.5X is also similar to the Chase Freedom Unlimited, but that card benefits from the greater value that comes with the Chase Ultimate Rewards portal, taking it out of the BMW Precision’s league.

On the negative side, the enhanced earning rates on both gas and dining purchases are exactly the same as you get with the no-annual-fee BMW World Mastercard. This similarity means that unless you plan to make use of the 5X points or 1.5X points categories (or get the special signup points bonus), the $99 annual fee might not be worth it.

Introductory Bonus Offer

Like other BMW credit cards, the BMW Precision World Elite Mastercard comes with an introductory bonus. That bonus is 7,500 BMW Rewards Points after making $1,000 in eligible purchases within the first 90 days of opening a new account. This 7,500 bonus is 2,500 more than comes with the no-annual-fee BMW Mastercard – a $31 value for BMW rewards or a $25 value when redeeming for anything else.

How to Redeem Rewards

BMW Rewards Points are the currency of all BMW credit cards, and points apply to several award options:

  • BMW purchases and dealership services
  • Loan or lease payments
  • Travel
  • Cash back
  • Merchandise

The best redemption value lies with BMW purchases and services. The card provides 25% more points value when choosing this option, which is excellent news for those who love to accessorize themselves or their vehicle in BMW-branded merchandise. It also goes without saying that this option is worthwhile whenever the occasional servicing or oil change is required.

Other reward options provide lower value. Still, the ability to select from multiple redemption options for points is welcome news – especially as most auto rewards credit cards are designed only for use with specific dealerships or brands.

Is the Annual Fee Worth It?

Unlike other BMW credit cards, the Precision Card does not feature a 0% intro APR on either purchases or balance transfers. Instead, BMW offers no foreign transaction fees and a $70 BMW dealer credit each year.

For the frequent global traveler, the waiver of foreign transaction fees is tempting. Since the card’s terms and conditions do not state that eligible purchases for dining must be made in the U.S., it also opens the opportunity to use the card as a powerful global dining rewards credit card.

The dealer credit is another great feature, though only for those who plan to use it each year for oil changes or other basic maintenance. Doing this can help offset the annual fee significantly.

Other Card Features

Given the $99 annual fee and no foreign transaction fees, it’s no shock that the BMW Precision Card is a World Elite Mastercard. World Elite offers the pinnacle of Mastercard perks and protections, including:

  • Lyft: Take five rides in a month and get a $10 Lyft credit. This is a recurring benefit and can be earned multiple times.
  • Boxed: Earn a 5% cashback reward on all Boxed orders. Boxed offers to ship for bulk orders worldwide.
  • Fandango: $5 off future movie tickets or at-home purchases for every two movie tickets purchased.
  • Onefinestay discounts, including 10% off bookings
  • Free ShopRunner Membership
  • Mastercard Luxury Hotel Collection access
  • World Elite Concierge access, 24/7
  • Cell Phone Protection of up to $1,000
  • ID Theft Protection
  • Zero Fraud Liability
  • Global Emergency Services

While U.S. Bank does not provide lounge access with the card, for a $99 annual fee the BMW Precision is a decent little travel card with auto rewards built in.

Should You Apply for the BMW Precision World Elite Mastercard?

So, is the BMW Precision World Elite Mastercard worth the $99 annual fee? If you own a BMW and take a trip to the dealership on more than one occasion per year, the answer is probably yes.

The $70 annual dealership credit is a nice bonus – as is the 5X points on BMW purchases and 25% additional reward redemption with BMW. These three benefits likely recoup the $99 annual fee – and the addition of 1.5X points basic earning rate, 3X on gas, and 2X on dining certainly help, too.

While World Elite Mastercard features don’t include lounge access, the addition of no foreign transaction fees and no visible language stating global dining doesn’t apply towards the 2X restaurant rewards, and the BMW Precision World Elite Mastercard is an excellent all-around credit card for the BMW enthusiast.

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