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If supermarkets, gasoline retailers and a slew of other automakers can offer branded credit cards, why not Nissan?
The Japanese automaker most closely associated with the word “value” is throwing a perk at its customer base, rolling out a consumer credit card program to turn those fuel and meal purchases into real Nissan cents.
The Nissan Visa card, offered through Synchrony Financial, allows dedicated brand loyalists (with good credit) to collect points towards a new or pre-owned Nissan vehicle, or servicing. While some owners might entertain thoughts of gassing and eating their way into a new Armada, the card’s other features are probably a bigger draw. The fine print, however, might prove less tempting.
Cardholders can expect roadside assistance, auto rental collision damage waiver, as well as travel and emergency assistance services. Should they prefer to steer clear of Nissan dealers, the rewards points are redeemable as statement credit — maxing out at $300 a year.
According to the lender, each rewards point amounts to a shiny penny within the confines of a dealership. The program allots five points for each dollar spend on Nissan products, servicing and gas, or three points for ever buck dropped on food. All other purchases are good for one point to the dollar.
Getting into the finer details, it seems only diehard Nissan fan would happily agree to the terms of the card. Fees and interest rates fall on the high side. APR for purchases is, depending on your account type, prime rate plus 13.99 percent, or prime plus 19.99 percent. Cash advances for either account type equals prime plus 21.99 percent, plus transaction fees of $10 or 4 percent of the amount, whichever is higher. Synchrony lists late payment penalty fees as “up to $38.”
So, if you’re in the habit of paying off your balance each month and love the thought of a slight discount when servicing your fifth Nissan, your favorite automaker has just the card for you.
[Images: Nissan]
Not exactly new…GM has been trying to get me to sign up for a card through Capital One for years now. Not really a GM buyer, so I wasn’t interested.
I’ll stick with my cash-back card, thanks.
I recently got a Kohl’s credit card because they offered 25% off a $320 sale. If Nissan did that I’d get one.
They love to pressure you at Kohl’s. I actually avoid shopping there, but occasionally, they have good deals on kitchen gadgets I think I want. But I don’t need their credit card at this time. My line for whenever they badger me to sign up for a credit card is: “Sorry, I’m buying a house, so no credit inquiries at this time.”
Eventually, that’ll be true.
I’ve never been approached while shopping to get a card. I said no to her, but the girl at the counter made me an offer that I couldn’t refuse. I don’t believe legitimate inquiries hurt your rating.
Yeah opening a single store card that has a small credit limit isn’t going to affect someone with good credit.
Well, no, but the clerks don’t know that…
Penney’s does it too.
I’ve had a GM card for 13 years. Only redeemed points for a car purchase once. I keep it because it serves a purpose but I don’t go out of my way to use it because the amounts they let you redeem are too low to make much of a difference. Occasionally they run promotions that bump redemption allowances but still not enough to push me to make an otherwise unscheduled purchase. You want to interest me in a 35 thousand dollar purchase? Then offer at least a 5 grand redemption of my accumulated points. 55 thousand dollar SUV, don’t make me laugh by offering only a 2 or 3 thousand dollar redemption. I guess they make money on these cards but frankly the only reason I still carry it is the fact that I’m to lazy to switch to another provider.
I used $3500 in points on a $10,000 Saturn and financed the rest at 0.9%. Hard to believe GM made any profit on that sale!
I remember GM Canada made the points card a lot less attractive shortly thereafter. I think they assumed people would get a more expensive car with the points, but thrifty Canadians just used the points to make the car cheaper.
Nissan buyers qualifying for a credit card? The whole idea is preposterous.