Ram DrivePlus Mastercard® Credit Card Review

In the world of credit card offerings, the Ram DrivePlus Mastercard® Credit Card stands out with its unique rewards structure and enticing introductory offers. Designed with the automotive enthusiast in mind, this card is particularly appealing for those who frequently make purchases with FCA US, the parent company of brands such as Chrysler, Dodge, Jeep, and Ram. In this comprehensive review, we’ll delve deep into the features, benefits, and potential drawbacks of this credit card to help you make an informed decision.

Ram DrivePlus Mastercard® Key Takeaways

– Reward Structure: 5% back on FCA US purchases, 2% back on gas and travel purchases, and 1% back on all other purchases.
– Introductory Bonus: $1000 Bonus Certificate towards the purchase of your next FCA vehicle when you spend $7,500 in your first year.
– Introductory APR: 0% Introductory APR for the first 6 billing cycles from the transaction date.
– Variable APR: 21.24% – 30.24% Variable APR.
– Annual Fee: $0.
– Credit Score Requirement: Good to Excellent (670-799).

Ram DrivePlus Mastercard® Pros and Cons

Pros:

1. No Annual Fee: One of the most appealing aspects of this card is that it comes without an annual fee, making it cost-effective for everyday use.
2. High Reward Rate on FCA US Purchases: The 5% cashback on purchases made with FCA US is a significant benefit for those who are loyal to brands like Chrysler, Dodge, Jeep, and Ram.
3. Introductory APR Offer: The 0% Introductory APR for the first 6 billing cycles can be advantageous for those planning large purchases or balance transfers.
4. $1000 Bonus Certificate: This bonus is particularly valuable if you plan to purchase an FCA vehicle, as it effectively reduces the vehicle’s cost by $1000 when you meet the spending requirement.

Cons:

1. High Balance Transfer Fee: The balance transfer fee is either $10 or 5% of the amount of each transfer, whichever is greater, which can be costly.
2. Foreign Transaction Fee: A 3% fee on foreign transactions can add up for frequent travelers.
3. High Variable APR: The variable APR ranges from 21.24% to 30.24%, which is on the higher side and can lead to significant interest charges if you carry a balance.
4. Limited Appeal Outside FCA Purchases: The card’s benefits are heavily skewed towards FCA-related purchases, which might limit its appeal to a broader audience.

Ram DrivePlus Mastercard® Benefits

1. Reward Structure

The Ram DrivePlus Mastercard® offers a tiered rewards structure that can be highly beneficial for certain types of purchases. Here’s a breakdown of the rewards:
– 5% Back on FCA US Purchases: This high reward rate is perfect for those who frequently purchase vehicles, parts, or services from FCA US brands. Given the high cost of automotive purchases, this can add up to significant savings.
– 2% Back on Gas and Travel Purchases: This is an attractive rate for those who travel often or have substantial commuting expenses. Gas and travel costs can add up quickly, making this a valuable benefit.
– 1% Back on All Other Purchases: While this is a modest rate, it’s still a nice addition to the card’s overall rewards program, ensuring you earn cashback on every purchase.

2. Introductory Bonus

The $1000 Bonus Certificate towards the purchase of your next FCA vehicle when you spend $7,500 in your first year is a compelling incentive. This bonus can substantially reduce the cost of a new vehicle, making the card particularly attractive for those planning a purchase within the FCA family of vehicles.

3. Introductory APR

The 0% Introductory APR for the first 6 billing cycles from the transaction date is a significant benefit for new cardholders. This offer allows you to make large purchases or transfer balances without incurring interest for the first six months. However, it’s crucial to pay off the balance within this period to avoid the high variable APR that follows.

4. No Annual Fee

With no annual fee, the Ram DrivePlus Mastercard® is a low-cost option that can still provide substantial benefits. This makes it an excellent choice for those who want to maximize their rewards without the added cost of an annual fee.

5. Good to Excellent Credit Score Requirement

The card is accessible to individuals with a good to excellent credit score (670-799), making it a viable option for a broad audience. However, those on the lower end of this range should be mindful of the high variable APR.

6. Additional Benefits

While the primary benefits of the Ram DrivePlus Mastercard® revolve around its rewards structure and introductory offers, it also includes several other features that enhance its overall value:
– Digital Account Management: You can manage your account and pay your bills online, providing convenience and ease of use.
– Customer Service: The card offers customer service support to assist with any issues or inquiries you may have.
– Security Features: As with most credit cards, you can expect standard security features such as fraud monitoring and zero-liability protection for unauthorized purchases.

Conclusion

The Ram DrivePlus Mastercard® Credit Card is a specialized credit card designed to provide maximum benefits to loyal customers of FCA US brands. Its standout feature is the 5% cashback on FCA US purchases, which can lead to significant savings for those who frequently buy vehicles, parts, or services from these brands. Additionally, the card offers a competitive 2% cashback on gas and travel purchases, making it a solid option for frequent travelers and commuters.
The $1000 Bonus Certificate towards the purchase of an FCA vehicle when you spend $7,500 in your first year is a compelling incentive, particularly for those planning to buy a new car. Coupled with the 0% Introductory APR for the first 6 billing cycles, this card provides substantial upfront value.
However, the card is not without its drawbacks. The high balance transfer fee and foreign transaction fee can be costly, and the high variable APR is a potential concern for those who may carry a balance. Additionally, the card’s benefits are heavily geared towards FCA purchases, which may limit its appeal to a broader audience.
Overall, the Ram DrivePlus Mastercard® Credit Card is an excellent choice for individuals who are loyal to FCA US brands and can take full advantage of the card’s rewards and benefits. For those outside this niche market, other credit cards may offer more versatile rewards and lower fees. As always, it’s important to evaluate your spending habits and financial needs to determine if this card is the right fit for you.