We may change APRs, fees, and other Account terms in the future based on your experience with Elan Financial Services and its affiliates as provided under the Cardmember Agreement and applicable law.
Interest Rates and Interest Charges | BMW Precision World Elite Mastercard® |
Annual Percentage Rate (APR) for Purchases | 15.24% to 24.24% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate. |
APR for Balance Transfers | 15.24% to 24.24% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate. |
APR for Cash Advances | 24.99% This APR will vary with the market based on the Prime Rate. |
Penalty APR and When it Applies | Not applicable |
How to Avoid Paying Interest on Purchases | Your due date is 24 - 30 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. |
Minimum Interest Charge | If you are charged interest, the charge will be no less than $2. |
For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore |
Fees | BMW Precision World Elite Mastercard® |
Annual Fee | |
• Annual Membership Fee
|
$99 |
Transaction Fees | |
•
Balance Transfer
|
Either 3% of the amount of each transfer or $5 minimum, whichever is greater. |
•
Convenience Check Cash Advance1
|
Either 3% of the amount of each advance or $5 minimum, whichever is greater. |
•
Cash Advance ATM
|
Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
•
Cash Advance
|
Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
•
Cash Equivalent Advance
|
Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
•
Overdraft Protection2
|
None |
•
Foreign Transaction
|
None |
Penalty Fees | |
•
Late Payment
|
Up to $40 |
•
Returned Payment
|
Up to $35 |
•
Overlimit
|
None |
(a) Earning Points. You will earn points based on eligible Net Purchases (Net Purchases are purchases minus credits and returns) made with your Account. Elan Financial Services will credit your Account with points as follows:
If credits for returned purchases exceed new purchases in any billing cycle, the excess credits will be carried forward into successive billing cycles and subtracted from future new purchases to determine the Net Purchases for those successive cycles.
Merchants classify their business by selecting a merchant category code established by Mastercard. A purchase will not earn more than one and a half points if the merchant’s selected code is in a category that is not eligible for additional points earning. Elan Financial Services does not determine the category codes that merchants choose and reserves the right to determine which purchases qualify for additional points. Please allow up to sixty (60) days after a purchase for points on that purchase to post to your points balance. Your point balance is available online in the Rewards Center.
Eligible purchases do not include Advances (including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), convenience checks, balance transfers, unauthorized or fraudulent charges, overdraft advances, interest charges, fees, credit insurance charges, transactions to fund certain prepaid card products, U.S. Mint purchases, or transactions to purchase cash convertible items. Points will not accumulate for Account transactions that are business-related transactions or activities. Points will accumulate for personal, family, and household purposes only, and we have the right to adjust or reverse the number of points that were awarded or terminate the Account if we determine that purchases or transactions were outside of such use, including, without limitation, excessive or patterned gas purchases or excessive or patterned purchases of cash equivalent instruments, such as gift cards, rewards cards, and other prepaid cards.
Your Account must be open and current (that is, no Minimum Payment is past due) on the closing date for the billing cycle in order to earn points. Subject to credit availability, the number of points that may accumulate in any monthly billing cycle for your Account is unlimited.
(b) Points Expiration. Points will expire at 11:00 p.m. Central Time at the end of the calendar quarter that is five (5) years from the quarter in which they were earned. Points are redeemed or expire on a first-in, first-out basis, so that the points you earned are used first before later earned points.
(c) Transferring Points. You may transfer points you earned to other qualifying BMW Accounts, including MINI & BMW Motorrad Accounts. Please see your Rewards Program Rules for additional information.
(d) Rewards Program Rules. Complete terms and conditions for the Rewards Program (the “Program”), including rules regarding the redemption, expiration, loss or cancellation of points, award thresholds, eligibility, participation, and the right to amend or terminate the Program, are set forth in the BMW Rewards Program Rules (the "Program Rules"). Please review the Program Rules and FAQs by logging in at mybmwcreditcard.com and accessing the Rewards Center. The Program Rules will exclusively govern the rewards terms of the Program and, to the extent the Program Rules conflict with the terms of this Cardmember Agreement or any other materials, the Program Rules will control.
(e) BMW Financial Services (“BMW”). BMW is not a party to this Agreement and has no authority regarding the Account, including with respect to any extension of credit on the Account. BMW is not a creditor or owner of the Account, but you authorize us to share information about you and your Account with BMW.
(f) Elan Financial Services reserves the right to amend or cancel the Program or change the Program benefits at any time with or without notice to you.
The creditor and issuer of your credit card is Elan Financial Services, pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
©2021 BMW Financial Services NA, LLC. The BMW wordmark and BMW logo are registered trademarks of BMW AG