The Nissan Visa credit card issued by Synchrony Bank may be worth considering for current or prospective Nissan drivers. The $ 0 annual fee card offers a special funding promotion and offers generous rewards that can be earned and redeemed at Nissan dealers.
There are some limitations to advertising funding, however, and redeeming rewards for purchases other than Nissan and Infiniti won’t get you the most bang for your buck.
Here are five things you should know about the card.
1. Receive bonus rewards for more than just Nissan purchases
The Nissan Visa Credit Card gives you increased rewards for Nissan-related purchases as well as some daily expenses. Cardholders receive the following:
5 points for every $ 1 spent at Nissan and Infiniti dealers.
5 points for every $ 1 spent on gas purchases.
3 points for every $ 1 spent on restaurants, including restaurants, cafes, and restaurants.
1 point for every $ 1 spent on all other purchases.
It’s worth noting that the card’s 5x earnings rate for gas purchases is just as competitive as some of the best gas rewards credit cards on the market.
Nerdy tip: Synchrony Bank also offers the Infiniti Visa credit card, which offers rewards that can be earned and redeemed at both Nissan and Infiniti merchants.
2. Redemption by non-Nissan is relatively unprofitable
Nissan points can be redeemed for purchases and credits. However, the value of your points depends on what you want to redeem them for.
Cardholders can redeem points for Nissan or Infiniti purchases, including services. Parts and accessories; and buying or leasing new, certified used or used vehicles. Points redeemed this way are worth 1 cent each, which is industry standard.
Points can also be redeemed for cashback in the form of a bank statement credit. This is the less lucrative option. Points are only worth half a cent each when redeemed this way. There is also a limit of $ 300 on how much cashback you can earn per year.
Regardless of your redemption decision, points expire five years after they are earned.
3. The card’s special financing offer is limited
When you use your card to make qualifying purchases of $ 499 or more, you will receive a 12 month special funding offer. This can give you interest-free time to pay off a big Nissan purchase. But there is one fine print to note:
The offer is not automatic, ie cardholders will only receive the financing offer if they explicitly request it at the time of purchase.
You will not receive the card’s ongoing rewards when you take advantage of the special financing offer.
Advance payments are not permitted for this promotional offer.
This is a deferred rate offer. This means that interest will not be waived and will continue to accrue during the card’s promotional period. If your purchase is paid in full by the end of the promotional period, you will not be charged interest. However, if there is any remaining balance, you will have to pay interest on the entire purchase for the entire duration of the special funding period. This can cost hundreds of dollars. (The best 0% APR credit cards come with real lead-in periods of 0% APR during which interest is waived.)
4. You cannot finance a Nissan with credit cards
The Nissan Visa credit card cannot be used to make payments on Nissan cars. However, the issuer advises that you can use your card to pay a deposit if the dealership where you are buying the car allows. Note, however, that down payments are not eligible for advertising funding for the card, as noted above.
5. It offers a decent sign up bonus (if you can get it)
For a limited time, new account openers can earn 20,000 Bonus Points if they spend $ 2,500 or more within the first 90 days of opening an account. While this offer can earn you a fair amount – $ 200 when redeeming for a Nissan purchase and $ 100 for bank statement credits – some applicants may not qualify for the offer. That’s because the 20,000 point bonus is only available when you open the card at a participating Nissan dealer. If you apply for the card online and get approved, you will not receive the welcome offer.