Chrysler Group currently launched its new credit cards with rewards called the Co—branded credit cards. This is an automotive credit card program that is a collaboration of the efforts from First National Bank of Omaha and MasterCard.
These credit cards with rewards contain the brand names of different known automotive vehicles including Chrysler, Jeep, Dodge, Ram Truck or Fiat. Additionally, points may be earned through transactions with dealerships. These dealerships will also be used for application purposes of prospective card holders. Otherwise, customers can also opt to apply through the company’s site in www.chryslergroupcreditcards.com starting May 2011.
Points may be earned and exchanged for vehicle purchases, parts or service at Chrysler Group dealerships which range from travel, merchandise and gift cards.
Fred Diaz, President and CEO – Ram Truck and Lead Executive for U.S. Sales said that this program is primarily done to reward loyalty of their customers. Cardholders will earn three points for every $1 spent on participating dealerships while there will be 2 points for travel-related purchase and one point for other purchases respectively.
The use of these credit cards with rewards from their company is also seen as one of the most beneficial in the industry since it does not implement any cap relating to redemption and earning of points.
Craig Vosburg, Group Executive, Market Development, U.S. Markets, MasterCard Worldwide said that this card will only enhance the customers’ experience through their continuous loyalty for the brand, their earning of points and also the flexibility of using the card anywhere where MasterCard is accepted.