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  #1  
Old 10-05-2016, 10:35 AM
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Jeep credit card

Just received an email offer for the Jeep credit card, seems fairly average as far as perks go, you can accumulate points and use them on Jeep accessories and other things. There is one item I am not sure about: • A maximum of $3,000 toward your down payment, up to your credit limit, when you finance with Chrysler Capital

Does this mean I can use $3000 worth of points toward my downpayment or does this mean I can use the card for the downpayment? I believe they mean you can use your card for a downpayment (why would anyone do that?) but maybe I am missing something. Here are more details on the perks:
THE POINTS.


Plus, you’ll earn Maximum Rewards® for every qualifying dollar spent, and you can redeem points toward hundreds of rewards.
• 3 POINTS per $1 spent on qualifying purchases made at FCA US dealerships (including parts, accessories, maintenance, merchandise, etc.)1
• 2 POINTS per $1 spent on qualifying travel purchases1
• 1 POINT per $1 spent on purchases everywhere else1
• Plus, you have 7 years from when points are awarded to use them before they expire
THE REWARDS.
You can redeem these Maximum Rewards® points for hundreds of reward options, like FCA US vehicles, accessories, parts and service, or merchandise, dining, travel, charity and more. Redemptions start at just 2,500 points.

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  #2  
Old 10-05-2016, 10:48 AM
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Re: Jeep credit card

It says you can use the points toward a vehicle, so that should work for the down payment. It sounds like the GM master card.


I always make down payments using a credit card just to get the points. I only use points to get cash. Since I never carry a balance I never pay interest, so every time I use a card I make money.


Once you get past carrying a balance on credit cards, credit cards are a great thing. It isn't necessarily easy getting them paid off, but in the long run it is better to make money with a credit card than to pay 8 - 25 percent to get 3 back.


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  #3  
Old 10-05-2016, 10:53 AM
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Re: Jeep credit card

Quote:
Originally Posted by bill_de View Post
It says you can use the points toward a vehicle, so that should work for the down payment. It sounds like the GM master card.


I always make down payments using a credit card just to get the points. I only use points to get cash. Since I never carry a balance I never pay interest, so every time I use a card I make money.


Once you get past carrying a balance on credit cards, credit cards are a great thing. It isn't necessarily easy getting them paid off, but in the long run it is better to make money with a credit card than to pay 8 - 25 percent to get 3 back.


--

Same, I'm putting 10,000 down and had planned to put it all between two credit cards just to get the points and then immediately pay them off. But my dealer will only allow $3,000 to be paid on card so i'll do that and write check for the rest. Guessing the retailer has to pay a fee for CC transactions, hence the limit.

I put everything on credit card. hell even a $3 gallon of milk. Then pay it off each month. We use the points for a splurge item at the end of the year.
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Old 10-05-2016, 11:28 AM
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Re: Jeep credit card

I use a credit card for points as well (JetBlue, for the next 2 years), but I don't think this card allows you to use points for the downpayment, I think it allows you to charge up to 3k (real money, not points) toward the downpayment. If the points are worth like most cards 1c=1point you would need to spend 300k to accrue $3000 worth of points....I am sure I messed up somewhere in the calculation...
Dealers usually cap the maximum for a credit card, last time I was able to use my card up to 5k, some cap it at 3k at least here in NYS.
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Old 10-05-2016, 01:02 PM
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Re: Jeep credit card

Quote:
Originally Posted by rszwestko View Post
I use a credit card for points as well (JetBlue, for the next 2 years), but I don't think this card allows you to use points for the downpayment, I think it allows you to charge up to 3k (real money, not points) toward the downpayment. If the points are worth like most cards 1c=1point you would need to spend 300k to accrue $3000 worth of points....I am sure I messed up somewhere in the calculation...
Dealers usually cap the maximum for a credit card, last time I was able to use my card up to 5k, some cap it at 3k at least here in NYS.
From your post:

THE REWARDS.
You can redeem these Maximum Rewards® points for hundreds of reward options, like FCA US vehicles, accessories, parts and service, or merchandise, dining, travel, charity and more. Redemptions start at just 2,500 points.

A down payment is just a payment toward the vehicle. Some dealers won't even process the credit card if you say you are borrowing the full amount or paying part in cash when you pick up the car. Maybe you should contact the folks who sent you the credit card and get a definitive answer.


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Old 10-05-2016, 02:33 PM
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Re: Jeep credit card

Quote:
Originally Posted by rszwestko View Post
I use a credit card for points as well (JetBlue, for the next 2 years), but I don't think this card allows you to use points for the downpayment, I think it allows you to charge up to 3k (real money, not points) toward the downpayment. If the points are worth like most cards 1c=1point you would need to spend 300k to accrue $3000 worth of points....I am sure I messed up somewhere in the calculation...
Dealers usually cap the maximum for a credit card, last time I was able to use my card up to 5k, some cap it at 3k at least here in NYS.
From clicking on the details link which takes you to

https://www.firstnational.com/dynapp/dynamic.app

You can redeem points for (collectively, the "Rewards"):
  • FCA parts (including Mopar parts and accessories) and services at participating FCA dealerships; to purchase or lease a new or used Chrysler, Jeep, Dodge, Ram or FIAT vehicle at participating FCA dealerships


AMEX used to have a deal with makers that allowed you to put the entire cost of a new vehicle on your Amex card, where they presumed you would do it for the points, then either pay it in full or get alternate financing before your card balance became due.



$3K limit isn't really that competitive...
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Old 10-05-2016, 02:35 PM
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Re: Jeep credit card

Quote:
Originally Posted by lstowell View Post
You can redeem points for (collectively, the "Rewards"):
  • FCA parts (including Mopar parts and accessories) and services at participating FCA dealerships; to purchase or lease a new or used Chrysler, Jeep, Dodge, Ram or FIAT vehicle at participating FCA dealerships
This is more information than what was in the promo email, that makes sense now.
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Old 10-05-2016, 02:44 PM
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Re: Jeep credit card

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Originally Posted by lstowell View Post


$3K limit isn't really that competitive...
I am sure its not worth for the dealer to loose %3 on the transaction and deal with chargebacks and other issues which involves customer complaints and credit cards. Just imagine all the stop payments they have to deal with when a angry customer wants to retaliate for bad dealer experience. They just limit themselves to a 3k loss or hold vs no limit.
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Old 10-05-2016, 04:52 PM
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Re: Jeep credit card

Some areas it's a law in place that limits the amount that can go on a credit card. I got the same email and it reads like you can use the points towards the down payment, not the actual credit card. Otherwise, how is that a reward? You can put a down payment on any credit card, the perk is the ability to use the points.
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Old 10-05-2016, 06:32 PM
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Re: Jeep credit card

Looking at the fine print, it also looks like you can only use the credit points for a down payment when you finance through Chrysler Captol...
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  #11  
Old 10-05-2016, 06:47 PM
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Re: Jeep credit card

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Originally Posted by Tinman4181 View Post
Looking at the fine print, it also looks like you can only use the credit points for a down payment when you finance through Chrysler Captol...
What good would that do? Most dealers use Ally for their financing hub.
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Old 10-05-2016, 07:10 PM
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Re: Jeep credit card

Quote:
Originally Posted by rszwestko View Post
This is more information than what was in the promo email, that makes sense now.
I just got the email. Me thinks you didn't scroll all the way to the bottom. All the information posted is there.

So you can use points and charge up to $3,000 when buying a car.

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