BMW Card Review

BMW Card is a store credit card issued by BMW Bank of North America. 

This card is designed for people with good credit. The minimum credit score to apply is 700. If you're wondering whether BMW Card is the right card for you, read on. This is everything you need to know to make a good choice.

Pros & Cons of BMW Card

The Good	The Bad
Lower than average purchase APRs. No annual fee. Has an introductory APR rate on balance transfers of 0%. Earn rewards on every purchase. BMW Card reports to multiple credit bureaus. No annual fee. Receive 1 point for every dollar spent on everyday purchases. Receive 1 point for every dollar spent on gas purchases. Receive 3 points for every dollar spent at BMW centers.	Does not offer a signup bonus. Does not offer rewards or cash back. Does not include many credit card rewards. Restrictions apply for points.

Is there a BMW Card cash back or rewards program?

No, BMW Card does not offer a rewards program.

BMW Card Rewards

Rewards rate (all purchases)	N/A
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the relevant APRs for BMW Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. BMW Card has lower than average purchase APRs.

BMW Card has a variable purchase APR that ranges from 15.24% up to 26.24%. The card has a variable balance transfer APR that ranges from 15.24% up to 26.24%. It also has a variable cash advance APR of 27.24% . Note that late payments are subject to an APR of 31.24% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

BMW Card Balance Transfers

Description
Balance Transfer APR	15.24% - 26.24%
Introductory Rate	0%
Intro APR period (months)	15

BMW Card Rates & Terms

Description
Balance Computation	N/A
Purchase APR	15.24% - 26.24%
Credit Limit	N/A
Penalty APR	31.24%
Cash Advance APR	27.24%
Security Deposit	N/A
Introductory Rate	0%
Intro APR period (months)	15

What are the BMW Card fees?

The following fees apply to BMW Card:

BMW Card Fees

Fees	Amount
Annual Fee	$0
Balance Transfer Fee	4%
Minimum Balance Transfer Fee	$5
Returned Payment Fee	up to $35
Late Payment Fee	up to $35

Does BMW Card report your account activity to credit bureaus?

BMW Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for BMW Card

• Visit the BMW Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.