Hello everyone, I was recently reading the fine print of my MINI Card, and I was wondering if anybody else on here has one and can attest to how it works.
The card says you can save up to $10,000.00 of the price of a new MINI. It breaks down into two parts. You can accrue up to $5k in credits earned from purchases on your card. The second part states that you get another $5k off when you finance your MINI with MINI Finacial services.
It's the second part that has got me wondering. Based on what it says, my understanding is that if you have this card, and you finace it with them they knock 5 grand right off the top. Seems almost too good to be true. So does anybody have any experience with purchasing a new MINI and using the benefits of this card?
I bought my MINI last year and have the MINI VISA also. I didn't know about the credit card until I received a phone call from VISA about two months after I received my new MINI, go figure. I was wondering about this myself and called the 24hour number one day.
Note: These figures may vary based on your specific agreement.
Based on what they said it is only up to $5,000 off the price of a MINI (new car only). I'm almost certain its $5k off and you can't be eligible for both. You get two points for every dollar spent and you can only redeem the points at 5,000 point intervals. So for every $2,500 spent you get 5,000 points and can redeem that for $50.
So if you wanted $5,000 off the price of a new MINI and you calculated it out you would have to spend $250,000 on your credit card for 500,000 points to get $5,000 off the price of a new MINI. You can only earn up to 20,000 points a month. So if you spend $10,000 a month it would take you 2 years and one month to earn enough points for the $5K off.
Seems like lots of purchases just for the 5K off. I have not yet redeemed any points.
__________________
07' MC R56 CR w/ reverse colored viper stripes | Premium Package | Sport Package | Cold Weather | Thule roof rack | red head & tail light trim rings | BC adjustable suspension | 17" TZ10's w/ Parada Spec 2's 15mm spacers | "redbaron"
WHAT A SWEET DEAL! Hehe. Yeah after I posted this I found and read my agreement. It says in there that you get 2 points for every $1 spent on motoring items. Such as gas, tolls, and stuff bought from MINI. And you get 1 point for every $1 of all your other purchases. So it's even worse that you calculated. You could have to spend a HALF A MILLION DOLLARS just to get the five grand off.
Then it states that if you finance with MINI financial, you can redeem more points up to $5000.00 in value. So basically if you've spent a full million of your credit card, at only 20,000 points a month, you can redeem up to $10k off your new MINI.
What a joke, seriously. I mean don't get me wrong if it gets me $500 bucks off I'll take it. But cards like the GM card you get 5% of the value spent towards a new car. (alas not compatable with employee/supplier discount) which I get as a Dupont Employee. But whatever, you still can't really beat a MINI for value IMHO.
