FIAT® DrivePlus Mastercard® from First National Bank of Omaha Review

In the ever-evolving landscape of consumer finance, credit cards have become quintessential tools for managing expenses, earning rewards, and even financing big purchases. Among the myriad options available, the FIAT® DrivePlus Mastercard® from First National Bank of Omaha stands out, particularly for automobile enthusiasts and frequent travelers.
This review will delve deeply into the various facets of the FIAT® DrivePlus Mastercard®, providing a comprehensive analysis to help you decide if this card aligns with your financial goals and lifestyle needs.

FIAT® DrivePlus Mastercard® Review

The FIAT® DrivePlus Mastercard® is specifically tailored for those who are loyal to the FCA US brand, which includes notable names like Chrysler, Dodge, Jeep, Ram, and, of course, FIAT. This card is designed to offer substantial rewards on FCA US purchases, making it an attractive option for those who frequently find themselves at FCA US dealerships.

Rewards Structure

The FIAT® DrivePlus Mastercard® offers the following cashback rates:
– 5% Back on FCA US Purchases: This is the standout feature of the card, making it highly beneficial for those who are planning to purchase or regularly service their FCA US vehicles.
– 2% Back on Gas and Travel Purchases: Given the rising cost of fuel and the allure of travel, this rate is competitive and adds significant value for cardholders.
– 1% Back on All Other Purchases: This is a standard rate but ensures that every dollar spent earns some cashback.

Sign-Up Bonuses

The card comes with a couple of enticing sign-up bonuses:
– $1,000 Bonus Certificate: When you spend $7,500 in your first year, you receive a $1,000 certificate toward your next new FCA US vehicle. This is a substantial incentive for those already planning a vehicle purchase.
– $100 Statement Credit: Spend $100 on FCA US purchases within your first billing cycle, and you receive $100 back as a statement credit. This essentially offers a 100% return on your first $100 spent, which is a rare perk.

Introductory APR

– 0% Intro APR for 6 Billing Cycles: This applies every time you use your FIAT® DrivePlus Mastercard® for FCA US dealership purchases of $499 or more. It’s an excellent feature for financing larger purchases without incurring immediate interest charges.

Standard APR

– 21.24% – 30.24% Variable APR: This is relatively high, which is common for rewards cards. However, it underscores the importance of paying off your balance in full each month to avoid interest charges.

Fees

– Annual Fee: $0, making it an attractive, low-cost option for cardholders.
– Foreign Transaction Fee: This is a notable downside, as it can add up quickly for international travelers.
– Balance Transfer Fee: Either $10 or 5% of the amount of each transfer, whichever is greater.
– Cash Advance Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater.
– Penalty Fees: Up to $40 for late payments and up to $35 for returned payments.

Credit Score Requirement

– Good to Excellent (670-799): This card requires a solid credit score, which means it’s not accessible for those with fair or poor credit.

FIAT® DrivePlus Mastercard® Key Takeaways

Strengths

– High Rewards Rate for FCA US Purchases: The 5% cashback rate is exceptionally high, making it a top choice for loyal FCA US customers.
– No Annual Fee: This makes the card a cost-effective option for long-term use.
– Sign-Up Bonuses: The $1,000 bonus certificate and $100 statement credit offer significant upfront value.
– 0% Intro APR for Dealership Purchases: This is a valuable feature for financing larger purchases without immediate interest.

Weaknesses

– High Standard APR: The variable APR of 21.24% – 30.24% is on the higher side, requiring careful balance management.
– Foreign Transaction Fee: This limits its utility for international travelers.
– Limited Balance Transfer and Cash Advance Options: The fees associated with these features make them less attractive compared to other cards.

FIAT® DrivePlus Mastercard® Pros and Cons

Pros

– No Annual Fee: This ensures that you’re not incurring an extra cost just to hold the card.
– Generous Cashback on FCA US Purchases: 5% back is an excellent rate, especially for those who are regular customers at FCA US dealerships.
– Introductory APR for Large Purchases: The 0% intro APR for six billing cycles on dealership purchases of $499 or more can be a significant cost-saver.
– Sign-Up Bonuses: Both the $1,000 bonus certificate and $100 statement credit provide substantial initial value.

Cons

– High Variable APR: The standard APR is on the higher side, which can be costly if you carry a balance.
– Foreign Transaction Fees: These fees make the card less suitable for international use.
– Limited Rewards on Non-FCA US Purchases: The 1% cashback on all other purchases is standard but not particularly competitive.
– Balance Transfer and Cash Advance Fees: These fees can add up, making these features less attractive.

FIAT® DrivePlus Mastercard® Benefits

Cashback Rewards

The cashback rewards structure is one of the primary attractions of the FIAT® DrivePlus Mastercard®. The 5% cashback on FCA US purchases can significantly offset the costs of maintaining and upgrading your vehicle.

Introductory APR

The 0% intro APR for six billing cycles on dealership purchases of $499 or more is a standout feature. It allows cardholders to finance larger purchases without the immediate burden of interest, which can be particularly useful for major repairs or upgrades.

Sign-Up Bonuses

The $1,000 bonus certificate and $100 statement credit are valuable incentives that add immediate value. For those planning a new vehicle purchase, the $1,000 certificate can be a significant financial boost.

No Annual Fee

The absence of an annual fee makes this card a cost-effective option for long-term use. You can enjoy the benefits and rewards without worrying about an annual cost eating into your cashback earnings.

Fraud Protection

The card offers robust fraud protection, a critical feature in today’s digital age. This ensures that your transactions are secure and that you’re protected against unauthorized charges.

Travel Benefits

While the card does charge foreign transaction fees, the 2% cashback on gas and travel purchases can be beneficial. This includes expenses like airfare, hotels, and car rentals, making it a good option for domestic travelers.

Customer Service

First National Bank of Omaha is known for its customer service. You can manage your account and pay your bill online, and their customer service team is generally responsive and helpful.

Conclusion

The FIAT® DrivePlus Mastercard® from First National Bank of Omaha is a specialized credit card that offers significant value for a specific audience—loyal FCA US customers. The 5% cashback on FCA US purchases, combined with the generous sign-up bonuses and 0% intro APR for dealership purchases, makes it an attractive option for those who frequently find themselves at FCA US dealerships.
However, the high variable APR and foreign transaction fees are notable drawbacks. This card is best suited for those who can pay off their balance in full each month to avoid interest charges and who do not frequently travel internationally.
Overall, if you are a loyal FCA US customer looking for a credit card that offers substantial rewards on your vehicle-related purchases, the FIAT® DrivePlus Mastercard® is a strong contender. Its combination of high rewards rates, no annual fee, and valuable sign-up bonuses make it a compelling choice for the right user.