Mopar® DrivePlus Mastercard® Review

Choosing the right credit card can be a daunting task given the multitude of options available in the market. Each card brings its own set of rewards, benefits, and drawbacks, making it essential to thoroughly evaluate them before making a decision. Today, we’ll delve into the Mopar® DrivePlus Mastercard® from First National Bank of Omaha. This card is particularly appealing for loyal Chrysler, Dodge, Jeep, Ram, and Fiat customers, offering a range of benefits tailored to enhance the ownership and servicing experience of these vehicles.

Mopar® DrivePlus Mastercard® Key Takeaways

– 5% Cash Back on dealership purchases: Including service, parts, and accessories.
– 2% Cash Back on gas and travel purchases.
– 1% Cash Back on all other purchases.
– $1,000 Bonus certificate towards your next new FCA US LLC vehicle when you spend $7,500 in your first reward year.
– $100 Statement Credit when you spend $100 in dealership purchases in your first billing cycle after the account is opened.
– 0% Introductory APR for the first 6 billing cycles from the transaction date.
– Variable APR of 21.24% – 30.24% after the introductory period.
– No Annual Fee.
– Credit Score Requirement: Good to Excellent (670-799).

Mopar® DrivePlus Mastercard® Pros and Cons

Pros:

1. No Annual Fee: There’s no cost to maintain this card, making it an economical choice.
2. High Rewards Rate at Dealerships: Earn 5% cash back on purchases made at FCA US LLC dealerships, which is ideal for vehicle owners.
3. Introductory APR Offer: Enjoy 0% APR for the first 6 billing cycles, which can help manage large purchases.
4. Bonus Offers: The potential $1,000 bonus certificate and $100 statement credit can provide significant value.
5. Flexible Rewards: The card provides cash back rewards that can be used for various purposes.

Cons:

1. High Variable APR: Post-introductory APR ranges from 21.24% to 30.24%, which is on the higher side.
2. Foreign Transaction Fee: This card may not be ideal for international travel due to potential fees.
3. Limited Balance Transfer Options: No introductory balance transfer APR offer.

Mopar® DrivePlus Mastercard® Benefits

5% Cash Back at Dealerships

One of the most compelling features of the Mopar® DrivePlus Mastercard® is the 5% cash back on purchases made at FCA US LLC dealerships. This includes services, parts, and accessories, making it a valuable asset for vehicle maintenance and upgrades. Regular servicing and purchasing genuine parts can be quite expensive, and this feature offers substantial savings over time.

2% Cash Back on Gas and Travel Purchases

For those who frequently travel or have a long daily commute, the 2% cash back on gas and travel purchases is a notable benefit. This reward rate is competitive compared to other cards that offer similar perks. Whether it’s for a road trip or routine fuel expenses, this card ensures you get rewarded for your travel-related spending.

1% Cash Back on All Other Purchases

The card also provides 1% cash back on all other purchases, ensuring that every dollar spent earns you some rewards. While this is standard for many cash back cards, it’s a nice addition that rounds out the card’s benefits.

$1,000 Bonus Certificate

The Mopar® DrivePlus Mastercard® offers a $1,000 bonus certificate towards your next new FCA US LLC vehicle when you spend $7,500 in your first reward year. This is a significant incentive for those considering a new car purchase within the FCA US LLC lineup. It effectively adds value to your spending by contributing towards a major future purchase.

$100 Statement Credit

New cardholders can earn a $100 statement credit by spending $100 in dealership purchases within the first billing cycle after the account is opened. This is an easy-to-achieve bonus that provides immediate value.

0% Introductory APR

The 0% introductory APR for the first 6 billing cycles is a standout feature, allowing cardholders to make large purchases and pay them off over time without incurring interest. This can be particularly useful for major vehicle repairs or upgrades.

No Annual Fee

The absence of an annual fee makes this card accessible and cost-effective. You can enjoy all the benefits and rewards without worrying about an additional yearly expense.

Rate and Fee Information

Understanding the rates and fees associated with the Mopar® DrivePlus Mastercard® is crucial for managing costs effectively.

Purchase Intro APR

– 0% Introductory APR for the first 6 billing cycles from the transaction date.

Purchase APR

– 21.24% – 30.24% Variable after the introductory period, depending on your creditworthiness.

Balance Transfer APR

– None: There is no special introductory rate for balance transfers.

Cash Advances APR

– 30.24% Variable: This rate applies to cash advances, which can be quite high.

How to Avoid Paying Interest

– Your due date is at least 21 days after the close of each billing cycle. You will not be charged any interest on purchases if you pay your entire balance by the due date each month.

Fees

– Annual Fee: $0
– 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:
– Return Payment: Up to $35
– Late Payment: Up to $40

Pros and Cons

Pros:

1. No Annual Fee: Lower cost of ownership.
2. Attractive Intro APR: 0% for 6 months can be financially beneficial.
3. High Cash Back Rates: Especially advantageous for dealership and travel-related expenses.
4. Generous Bonus Offers: Provides immediate and long-term value.

Cons:

1. High Variable APR: Can lead to significant interest charges if the balance is not paid off.
2. Foreign Transaction Fees: Not ideal for international use.
3. Limited Introductory Balance Transfer Offers: Not suitable for those looking to consolidate debt.

About the Issuer: First National Bank of Omaha

The Mopar® DrivePlus Mastercard® is issued by First National Bank of Omaha, a reputable financial institution with a variety of credit card offerings. They are known for providing excellent customer service and a range of card options tailored to different consumer needs.
You can manage your account and pay your bill online through their website, which is user-friendly and secure. Additionally, their customer service is accessible for any inquiries or issues you may encounter.

Conclusion

The Mopar® DrivePlus Mastercard® presents a compelling package for loyal FCA US LLC vehicle owners and those who frequently utilize dealership services. The 5% cash back on dealership purchases, combined with the 2% on gas and travel, makes it a valuable tool for managing vehicle-related expenses. The $1,000 bonus certificate and $100 statement credit offer significant additional value, particularly for those planning to purchase a new vehicle in the near future.
However, the high variable APR post-introductory period is a critical consideration, as it can lead to substantial interest charges if the balance is not paid off each month. Additionally, the foreign transaction fees make it less suitable for international travelers.
Overall, if you are an FCA US LLC vehicle owner who frequently services your car at the dealership and pays off your balance monthly, the Mopar® DrivePlus Mastercard® can be a highly rewarding option. Its combination of high cash back rates, introductory APR offer, and bonus incentives make it a standout choice in the automotive credit card segment.