BMW Group Financial Services expanded BMW Credit Card program offers enhanced benefits
Salt Lake City - November 8, 2012... Offering unique benefits and exclusive rewards – including up to $10,000 towards the lease or finance contract on a new vehicle – designed specifically for members of the BMW community, BMW Bank of North America re-launches a new, three-tiered BMW Credit Card program.
The expanded Visa® credit card collection encompasses the BMW Card, the BMW Signature® Card and the BMW Ultimate Card – issued by the BMW Bank, a wholly owned subsidiary of BMW Financial Services NA, LLC.
The re-launch targets existing cardholders, introducing them to the new program and, where applicable, inviting them to upgrade to another tier, all without changing their account numbers.
Cardholders will have access to a range of premium reward redemption options developed from customer feedback and realigned with the BMW brand, including enhanced point earnings and a broader array of redemption levels.
In addition to redemption of points toward the lease or finance contract on a new BMW of up to $10,000, cardholders rewards will include the ability to purchase additional lease miles, pay for service and repairs and lifestyle merchandise at BMW centers, and attend exclusive BMW events.
New points earning opportunities are driven by a combination of the credit card selected by the customer and the type of purchase made. Customers can earn more points on their purchases made at BMW centers…3x, 4x or 5x per dollar spent.
“A dozen years ago we introduced the BMW Card to provide our customers, members of the BMW community, with a card tailored to their active lifestyles and rewarding them for being part of the BMW family,” explained Ken Petersen, President and Chairman, BMW Bank of North America. “Although the card has been extremely successful, customer feedback and a decade of change drove our decision to enhance our card products, but the heart of the program remains the same.”
The BMW Credit Card benefits go beyond points for purchases with bonuses for spending on gasoline and at BMW Centers. And there are BMW-unique rewards for point redemption including branded merchandise and toward vehicle purchases.
“The BMW Card is another way for us to reward loyalty — a way for BMW Financial Services to show its commitment to its customers and a means for the BMW community to show its passion for the brand,” added Petersen.
About BMW Group Financial Services
BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing of BMW products. Since then, the Group has expanded to provide service to markets in multiple countries and continues to evolve beyond its role as a captive finance unit.
BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The Group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With more than $34 billion in serviced assets and 1,000,000 automotive lending customers across the U.S., Canada and Mexico, BMW Group Financial Services finances almost three-quarters of the BMWs sold or leased in North America. BMW Group Financial Services employs more than 800 people, including consultants and temporary workers, most of whom are located in the Hilliard, Ohio, Regional Service Center, which serves the U.S., Canada and Mexico.
In 2001, the MINI Financial Services division was established to provide support for the brand’s dealer and customer networks by offering various financing and leasing options. Alphera Financial Services was established in 2006 to provide financial services to dealers who are not part of the BMW and MINI networks.
BMW Group Financial Services also offers credit card products through its subsidiary, the BMW Bank of North America. up2drive.com is a division of BMW Bank of North America, a wholly-owned subsidiary of BMW Financial Services NA, LLC. BMW Insurance Agency, Inc., a property and casualty producer, is also part of BMW Group Financial Services.