BMW Ultimate Card

BMW Ultimate Card Review

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This is a store rewards card issued by BMW Bank of North America. If you're wondering whether BMW Ultimate Card is the right card for you, read on.

Key Takeaways

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• Competitive APRs. BMW Ultimate Card has a variable purchase APR that ranges from 15.24% up to 26.24%.
• 4% Balance transfer fee. BMW Ultimate Card charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Gas rewards. on eligible fuel purchases.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of BMW Ultimate Card

The Good

The Bad

Receive BMW Reward Points for premium Get Away Rewards like airline tickets, hotel stays, rental cars, cruises, and more. Earn 5 points for every dollar spent at BMW Centers. Earn 3 points for every dollar spent on gas purchases. Earn 1 point for every dollar spent on purchases. Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 15 months. There is then a variable purchase APR that ranges from 15.24% up to 26.24%. Cardholders can earn rewards on their purchases. BMW Ultimate Card reports to multiple credit bureaus.

Contains annual fee. Contains international transaction fees. Charges an annual fee of $75 Does not offer a signup bonus. Charges a foreign transaction fee of 3%. Charges a 4% balance transfer fee. Does not include many credit card benefits.

BMW Ultimate Card FAQ

Does BMW Ultimate Card have a cash back or rewards program?

BMW Ultimate Card is a travel rewards card.

BMW Ultimate 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 BMW Ultimate Card benefits?

It provides the following benefits:

• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for BMW Ultimate Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

BMW Ultimate 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%. 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.

What are the fees for BMW Ultimate Card?

The following fees apply:

BMW Ultimate Card Fees

Fees	Amount
Annual Fee	$75
Foreign Transaction Fee	3%
Returned Payment Fee	up to $35
Late Payment Fee	up to $35

Does BMW Ultimate Card report your account activity to credit bureaus?

Yes, BMW Ultimate 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 may help improve your credit.

How to apply for BMW Ultimate Card

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