Best Car Credit Card

Save money on new vehicle purchases with a car reward credit card. This type of credit card may also give you discounts on vehicle repairs. Here you’ll find details about auto reward cards and gain access to credit card applications for selected cards.

Rebate Accumulation

Like most other credit card rewards, a majority of vehicle reward credit cards accrue rebates based on a percentage of what you spend in purchases. There are, of course, a few exceptions that give points instead of a percent. Exactly how much can you earn per transaction? The highest percent that I’ve personally encountered is 3%. Of course that’s not every credit card, only a select few.

Look for extra rebates on specific purchase types. Some car reward credit cards give extra rebates on purchases made at the cards’ affiliated brand dealerships. Others also provide category bonuses at, for example, gas stations, grocery stores, and drug stores. Always read credit card solicitations that you find online and receive by mail closely. They will describe exactly how your rebates accrue.

A number of car reward cards have a cap on the amount of points you can accrue per year, usually anywhere from 300 to 500. Ask the credit card issuer when you apply for the card, if you can’t find it on the solicitation. Also, don’t forget about your auto rewards, they usually have an expiration date. One of the longest expiration terms I’ve found is 5 years. Surely you plan on purchasing a vehicle in that time frame?

Reward Redemption

How would you like to redeem your rewards? With some car reward credit cards, you have options. You can simply redeem them when you purchase a new or used vehicle or some cards allow you to even redeem them for car repairs and service. Each card has a unique way of redemption, whether it involves you, sending the credit card issuer a bill of sale for the vehicle, or receipts for the service.

You may even receive bonus rewards for purchasing a specific type of vehicle with cards such as the good old GM Flexible Earnings Card. If you’re afraid you’ll change your mind about purchasing a vehicle in the future, find an auto reward credit card that gives a cash back or online point rewards. It’s a great additional option to have in case you change your mind about purchasing a vehicle, after you’ve already earned rewards with the card!

What credit cards are available?

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