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Will you be getting the Ford Visa Credit Card?

  • Already have it

    Votes: 1 4.8%
  • Yes, this sounds fantastic

    Votes: 3 14.3%
  • No, I don’t want it

    Votes: 12 57.1%
  • I have to much plastic

    Votes: 4 19.0%
  • I’m bad with credit cards

    Votes: 0 0.0%
  • Maybe 🤔

    Votes: 1 4.8%
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Discussion Starter · #1 · (Edited)
I need to be clear, I’m not advertising or endorsing the Ford Credit card. The link below is not paying me in anyway. I strongly advise those that don’t pay off credit in full every month to not get one. I also won’t factor in APR as I presume everyone will pay it off monthly.

With that said, what are your thoughts on The Ford Visa Credit Card?

Points are valued at half a cent and can be used for anything for sells, that includes your next Ford vehicle, parts, service, etc.

Bonus sign up offers

11,000 FordPass™ Rewards Points* after your first purchase, get enough Points to enjoy The Works Service Package – a complimentary oil changepopup icon and tire rotation

Earn a $100 Statement Credit* when you spend $3,000 within your first 3 billing cycles after your account is opened. (Down payment on your Maverick).

Yearly bonus (every year) - effectively 3.333 percent cash back yearly (on the first 6,000) not including service points.
$200 Statement Credit Every Year*
When you spend $6,000 in 12 consecutive billing cycles after account opening

5%
Back in Points* on Ford Dealership Purchases

3%
Back in Points*on gas, auto insurance, tolls, parking and dining

1%
Back in Points* on all other purchases

10% Back in Points* on Ford Service

My thoughts is if you plan to spend 6,000 on this card and try to stay in the higher point categories you will net well over 4 percent back in value (3.333 percent credit and the remainder in points from Ford). Reminder, points are worth half a cent each in value for anything from Ford.


 

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Better pay the down payment off is 6 billing cycles or the interest rate will be higher than a car loan. 15.99% APR - 26.99 APR on the card.
 

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Discussion Starter · #3 ·
Better pay the down payment off is 6 billing cycles or the interest rate will be higher than a car loan. 15.99% APR - 26.99 APR on the card.
I don’t advise anyone run a credit card balance for more than a month. Pay in full monthly. There are some reasons to have credit card debt at 0 percent but for the average consumer I don’t recommend it.
 

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Discussion Starter · #5 ·
Much better credit cards out there.
If your limiting your self to one card than yes there are better options. Plenty of 2% cash back cards out there now with no limits. BOA has a good deal if you have over 50,000 with them. There are 5% cash back on discover it and chase freedom in select categories. You can also do the chase trifecta if you travel a lot to get 25-50 percent bonus points unlocking 7.5 percent for travel. However, I know of no card that nets over 4% cash back for the first $6,000 regardless of what you spend your money on. Well Fargo Propel is nice for 3% cash back on travel. The capitol one savor card used to be nice for 4% cash back on restaurants and entertainment but costs $95 a year now (I'm grandfathered into getting it free). The version Visa gives 4% back on grocery and gas, which is nice when I'm not getting 5% with chase or discover. I also get 5% back on utilities with US Bank.

So please explain?
 

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So if I was going to put 10k down on my Maverick....I could put it on this card...earn 5% points? I would of course pay it off almost immediately.
 

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Discussion Starter · #7 · (Edited)
So if I was going to put 10k down on my Maverick....I could put it on this card...earn 5% points? I would of course pay it off almost immediately.
I do want to say that you probably should verify with your dealer that they will take the card for 10k down payment and no fees. They should as it’s a Ford card and such but who knows.

Assuming you get approved for $10k plus you could smack $10k down and you would get the below perks. Total value of $610 (cash back being $300). You will pay no fees whatsoever as long as you pay it in full by the due date.

these perks should arrive in 1-3 months after your spend the 10k
5 percent Ford point $250 value
$100 statement credit
12,000 bonus points $60 value

$200 yearly bonus for spending $6k but not until your 1 year anniversary of owning the card.
 

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Can you buy a Maverick with a credit card? Getting cash back and not having to sign loan papers when you pay by check would be worth it.
 

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Discussion Starter · #9 · (Edited)
1303
Can you buy a Maverick with a credit card? Getting cash back and not having to sign loan papers when you pay by check would be worth it.
You can sure, however not all dealers will sell you the entire car with a credit card without charging a fee.

Ford advertises the card to pay the down payment with. You also have to have the credit limit needed to buy the car.

not sure why you had to sign loan papers than pay it off with a check. There will be very little paper work paying with a card. Don’t even let them pull your credit and sign anything with an APR.

If you take a car loan out you typically won’t be able to make payments with a credit card,
 
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