iatacs19

I don't get the benefts of this card...

So the most you can save when buying a Lexus is $500???

I mean you can pay let's say up to $9,500 with a credit card when you buy a car, the rest you pay cash. So the total savings for tha transaction would be... a whopping $500? I can do better than that though my employee VIP car buying program.

flipside909

Yep I agree. Since I work as an Auto Club employee, we have internal rates with any Penske Automotive Group dealership i.e. Longo Lexus or Stevens Creek Lexus. But I have even better connections at another dealership that can do even better than my employee internal rate. But hey, every little bit helps, even if it's just $500.00.

XeroK00L

What sucks, that you can't use your GM card rewards to buy a Lexus?? Come on, they're trying to sell you a lousy GM vehicle, of course they'll have to give you more incentive to get you to use their card. You said it yourself, even though they're giving you 5% reward for everything you buy, it isn't making you use their card is it? Reward points are only meaningful when you can use them on something you actually desire.HELLO?? Read the fine prints please!! Your Blue Cash will only earn you a dismal 0.5% cash back UNTIL you've spent $6,500 year-to-date! That means for the first $6,500 you spend with this card in a year you're only getting 0.5% cashback, and then for the next $6,500 you spend even though you're getting 1.5% cashback, you're just finally breaking the 1.0% barrier on the year-to-date average!! I for one don't wanna be pressured to spend over $13,000 with one card each year just to be able to earn 1.0% in reward, which I easily can with any other card. I want to be able to earn that 1.5% right from the first dollar I spend! Not to mention that a lot of places don't take American Express. In short, Blue Cash sucks. I bet most people who bought into that "up to 5%" marketing scheme and didn't bother to do their own math don't even get to earn 1.0% on the average use of their Blue Cash. If you even care about the APR of a credit card, you're likely not in a financial position to buy a new Lexus in the first place anyway. Pay off your credit card balance first!!!Again, READ THE FINE PRINTS. You earn 5% for purchases made at Lexus dealerships, including a new Lexus. So the rewards will make it "Buy one $50,000 Lexus, get the second (can be a CPO mind you) for $2,500 off, or $2,500 worth of free maintenance!!" Now that's really something if you ask me.

EDIT: Also, your calculation was off even if you based it on your own words. $50,000 x 1.5% = $750, not $500! Sorry but I'm just mad when people don't do their math properly and jump to some very misleading conclusions.

DraGonMan

I can actually put the whole Lexus purchase on the credit card? wow....most dealers only allow me to put 5k ...

Threxx

You might notice that a lot more people in this country (and the world as a whole) drive GM vehicles than do Lexus vehicles. I'm considering buying a 6th gen Corvette or a 9th-gen Silverado work truck when it comes out as a third vehicle. Neither of them are crappy at all for the price I'd be able to get them for. Don't be a car snob, man... I don't care for most GM vehicles as a whole and obviously neither to you, but that doesn't mean I'll never buy any of them in the future.

I'm well aware of the 6500 clearance cap, which only pays between 0.5 and 1.0 percent cash back. For somebody who only spends that much per year on their card then I would say blue cash is not the way to go. Go with one of the cards that gives you a flat 1% cash back on all money spent. I spend an average of $40,000 /yr on my blue cash to date. I do a lot of business purchasing. So for the other 33,500 that I spend I get at least 1.5% back, up to 3.0%, more if I carry a balance, but like I said, I don't (or at least I thought people would be able to infer that by reading that I referred to carrying a balance as a dumb idea).

Like I said, last year I got 750 dollars CASH back after spending around 40,000. That's an average of 1.875% cash back between all my purchases including the ones before the 6500 limit. I sure like 1.875% CASH better than I do 1.5% credit toward a new car.


Like I said, I don't believe in carrying a balance. The 6.9% APR is just an example of the card being a good deal overall. 6.9% compared to 12.9%.... even if you never accumulate interest, it just makes me feel like the card vendor has a little bit better intentions should you ever need to actually carry a balance.
Furthermore... along your same snooty lines of thinking "if you can't afford to pay your card off every month you shouldn't be buying a lexus anyhow" ... let me ask you, if you don't even spend more than 10,000 dollars a year on your credit card, are you likely to be in a financial position to buy a Lexus, either? Maybe so, but it's the same closed-minded thought process you were going through.
While you're lecturing me on math and "reading the fine prints", maybe you should do a couple things for yourself:
Learn when to use an s at the end of the word, and when not to. It's "fine print".

AND, try learning how to read the fine print your own darned self; and if you already did, maybe you should learn how to do math.
It says: "- Earn 5 points for every $1 spent in net purchases at Lexus dealerships (earn up to 50,000 points per transaction when you use it to purchase your next Lexus)"

Now how much is one point worth according to their website?
It says: "7500 points = $75 redeemable at Lexus dealerships"

Now let's do some math here. 50,000 points (the most you can earn for a transaction when purchasing your next Lexus), divided by 100 equals 500 dollars!

Wow. Looks like maybe I know how to do math and know how to read fine print better than you; the one who was flaming me telling me I should learn how to do it. Consider the facts better before flaming somebody to the extent of flat-out telling them they're stupid, when in fact what they've said is 100% correct. You'll look a little more intelligent next time.

Honestly, overall I find it disturbing how much offense you took to my stance on this card. Are you this much of a Lexus fanboy that you even defend a credit card with such an extreme demeanor because it has a Lexus emblem on it?

Threxx

Wow... been quite a few days and still no response from XeroK00L after he flamed me based on a series of falsities. All I ask for is, seeing as how much effort you put into attacking me in the first place, you take a hair of effort to say "oops..."

LS4fun

Alright boys...this is getting nowhere....

Just agree that you disagree with one another.....there's too much hate in this world to fight about stupid credit cards....

JJG2005

Sorry to bump an old topic, but...
With a $2000 line of credit that some have received it seems like this is many people's first or second credit card... what kind of credit history did you guys have before applying? I'm 18 and just received my first credit card which will be paid in full every month... just wondering how long I should wait before applying for my Lexus card....

TheRupp

All I did was just put gas on my first CC when I was 18, maybe $60/mo and paid it off in full. That will jack up your credit limit sky high, not to mention your credit rating.

BTW, this card would look FAR better in black