It earns you $300 in statement credit (if you spend over $2,000 within first 3 months of card membership) that you can use to make a lease payment. OP got another $200 in statement credit because he put down $7,000 on his lease.
You can read about the benefit terms for the BMW cards here: https://mybmwcard.com/
Edit: The bonus appears to apply only to the BMW Card (3x points, no AF) and BMW Signature Card (4x points, $75 AF not waived)
The Ultimate card is invite only, after spending $50K in a year on another BMW card (obviously not worth it). The one which gives 4% rewards points back would have almost have covered the annual fee, but probably not worth it.
Ah, wasn’t aware of that! Kind of silly that they have an invite only card with a low annual fee and no benefits. Not sure what appeal any of these BMW cards have.
I just checked the link you posted. it shows 4 credit cards but doesn’t mention the rewards any where. Maybe not clicking enough but the rewards types are not hyperlinks and just listed with no amounts
Thank you so much :)!
When you scroll to the bottom there’s a banner that looks like this:
And then when you click “learn more” for any of those 4 cards, it shows a drop down with how any points are earned per dollar spent.
Interestingly, a quick Google search and quick skim of their T&C didn’t land me on anything about redemption values. The assumption is 100 points = $1 but I’m not seeing that supported by BMW anywhere. Though, of course, a quick Google search also doesn’t give you much information about the BMW cards other than how much people think they suck.
Found it ! Thanks !!
When I got my 330e. The fincance guy offered the car to me so I got it. Only one hard pull on my credit from Monrovia BMW and one month later I have 36,000 points. Literally only got me 4 points down on my credit score which I got back a month later when I paid the credit card off.
So far my experience with BMW card has been positive. Good 24/7 customer service. Saw all the bad reviews as well but pulled the trigger anyways.
Can you confirm the points valuation? Ie 100 points = $1 ? Have you redeemed your 50k points yet? And was it redeemed as cash, statement credit or something else?
I personally won’t ever explore BMW cards as they really aren’t lucrative enough for me to bother with, but I figure this information might be helpful to others.
Can u send link for which Bmw. Edit card it is? Thx
Just the standard BMW Card - it is the first one that appears in their card lineup here:
Thx! I already leased my car and paid with another card before I saw post . Can u use card to pay monthly payments?
Doubt it 2020
Thanks for the tip…Im using this approach (along with the CCA membership) to handle the MSDs and get some cash back post sale:+1:
You cant use card to pay your monthly payments but I think you could go back to the dealer and have them cancel the transaction on your other card and have them run it again with the BMW one.
If the contract is funded, they won’t do that.
Why not just open a chase reserve or any card with a higher welcome bonus and just get the points or cashback from there, which would be worth more then $500 and would come on a card you will actually use.
Chase reserve card has a crazy annual fee. This is super easy way to get $500 toward a lease, save $ on interest, and not worry about having a card with an annual fee. Not sure of any other way to get $500 back on this purchase with a no annual fee card.
True. You just have to make sure you remember to get this card before you finalize all the paperwork.
