BMW, Mini and BMW Motorrad enthusiasts have a new way to demonstrate their love of the brand and earn accelerated rewards for their spend, with the launch of a suite of Mastercard credit cards.
The new cards, which are issued by Elan Financial Services, a division of U.S. Bank, are now available for new customers at the BMW, Mini and BMW Motorrad card websites and at participating dealerships
BMW and Mini previously had cards issued by BMW Bank of North America, a wholly owned subsidiary of BMW Financial Services NA, LLC. Many other automakers have branded credit cards including General Motors, Mercedes-Benz, Volkswagen, Lexus and Fiat Chrysler Automobiles.
The new BMW credit card offerings are designed to deliver the performance expected from premium brands, says Ian Smith, chief executive officer, BMW Group Financial Services NA.
“Our customers will experience greater functionality and improved benefits, engaging them and providing a platform for improved loyalty,” Smith says in a release.
Cardholders now have more ways to earn rewards that can be used at dealerships for parts and service, put toward monthly vehicle payments, or for travel or cash back.
Customers can send a text to receive access to a short digital application while in the dealership. The credit decision is nearly instantaneous, and if approved, customers will have immediate access to the credit card to use that day in the dealership.
Cardholders will receive up to five times rewards for purchases at BMW, MINI or BMW Motorrad, accelerated rewards on gas and restaurants and $70 annual dealership credit on the BMW Precision World Elite Mastercard.