DETROIT -- Ford Motor Co. formally launched the FordPass Rewards Visa card, which offers customers money back on vehicle-related purchases, among other perks.
The credit card, which became available in July, allows cardholders to earn 5 percent back on certain Ford transactions, plus another 5 percent through the FordPass Rewards loyalty program. The card offers 3 percent back for gasoline, auto insurance, parking and other auto-related purchases.
Automotive News first reported details of the credit card in March.
Cardholders get a $100 statement credit if they spend $3,000 within the first three billing cycles and a $200 credit if they spend $6,000 in 12 consecutive billing cycles after opening an account. Users are also eligible to get 0 percent interest for six months on purchases of $499 or more at Ford, Lincoln or Quick Lane stores.
"Building trust and delivering the best ownership experience possible for our customers is our top priority at Ford," David Loflin, manager of customer experience at Ford, said in a statement Monday. "Not only does this card match the features of other major players in the credit card space, it offers customers a means to reduce the cost of ownership by redeeming points to purchase, lease or service their vehicle."
The card is available in Blue Oval Blue or Model A Black, but Ford said it plans to offer customers cards in the color that matches their Ford vehicle, starting with the Bronco family of vehicles and redesigned F-150.
The card is offered through First National Bank of Omaha.
