Nissan Visa Signature Card Review

Full Review of Nissan Visa Signature Card

Pros Explained

• High rewards rates on gas and dining: Some of the best credit cards offer just 3% or 4% back for gas purchases. With this card, however, you’ll earn 5 points per $1, which essentially gives you a 5% rate if you redeem your points on eligible Nissan purchases. You’ll also receive 3 points per $1 on dining purchases at restaurants, which isn’t the best dining rewards rate available in the card market, but it’s close. 
• Offers some redemption flexibility with cash back: While the card is geared toward using your points for Nissan purchases, you do have the option to redeem them for cash back in the form of a statement credit instead. However, your points won’t be worth as much if you use them that way.
• Special financing for eligible large purchases: If you use your card to make a qualifying purchase of $499 or more at participating dealers, you’ll get special financing for 12 months, which could potentially save you money on interest. However, you’ll need to speak with an associate at the dealer to get the full details of the promotion, including the current rate and what happens if you don’t pay off the balance in full before the 12-month period ends. 

Cons Explained

• Low statement credit redemption rate: While you can use your points to get a statement credit, they're only worth 0.5 cents apiece when you redeem this way. So if you have 20,000 points, they're worth just $100, which is half of what you'd get if you redeemed with Nissan. Also, statement credits are capped at $300 per year, which limits your redemption options if you're a big spender. In contrast, cash-back credit cards generally give you a better redemption rate and won't limit how much you can redeem.
• Low base rewards rate: The card offers bonus rewards on certain categories, but many of your purchases will earn only 1 point per dollar. That's just a 0.5% rewards rate if you plan to use your rewards to get a statement credit. If you want more rewards on your everyday spending, consider getting a card that offers 1.5% or 2% back on all of your purchases.
• Special financing isn't automatic: The card's special financing feature could potentially save you money on large purchases. However, it is only available at participating dealerships and on certain purchases. What's more, it's subject to credit approval, which implies that you'll need to undergo another credit check to qualify. Credit cards that offer an introductory 0% APR promotion provide the details upfront, have fewer limitations, and don't require an additional credit check beyond the one the card issuer performs when you apply.

Who This Card Is Best For

The Nissan Visa Signature Card may be worth considering if you’re a loyal Nissan customer and you regularly replace, service, or accessorize your vehicles at the dealership. The card’s high rewards rates on Nissan purchases and on gas can provide a lot of value in that case.

However, if you use the card to get cash back, you’ll reduce your rewards rate by half—that means 2.5% cash back on gas and on Nissan purchases, 1.5% back on dining, and 0.5% back on everything else. With that in mind, you’ll get a lot more value with other cash-back rewards cards. 

This card may also be worth considering for its special financing. But because of the limitations and lack of a guarantee that your request will be accepted, you may be better off with a 0% APR credit card instead.

Rewards Earning Details

The Nissan Visa Signature Card offers 5 points per $1 at Nissan dealers and on gas, 3 points per $1 on dining, and 1 point per $1 on everything else. Once you’ve earned points with the card, they’ll be posted to your account within 30 days.

Note, however, that if you take advantage of the card’s special financing, you won’t get rewards points on those purchases.

Rewards Redemption Details

There are two ways to redeem your rewards with this card. The more flexible option—but also the less valuable one—is cash back in the form of a statement credit. If you do this, your points are worth 0.5 cents apiece, and you can only get up to $300 annually with this redemption option.

The better option is to use your points to get a discount with Nissan. Points are worth 1 cent each when redeemed that way, and eligible redemptions include:

• Purchase or lease of a new, certified pre-owned, or used Nissan vehicle
• Parts
• Service
• Accessories

Although you will get more value with this option, you’ll most likely have fewer opportunities to use your rewards this way. Even if you lease your vehicle, you probably only swap your car for a new one every few years. And while getting your vehicle serviced occurs more often, it’s still not as flexible as the option to redeem your rewards for cash back, which you can use anytime and for anything.

How to Maximize Your Rewards

The best way to maximize your rewards is to use them only for the Nissan purchases that qualify for the 1-cent-per-point redemption rate. Also, if you have multiple credit cards, make sure to use this one for its bonus categories if that earning rate exceeds what you’d get from your other cards. Because the card’s base rewards rate is just 1 point per $1, it may be a good idea to pair it with a card that earns a higher rate on all of your other purchases to maximize your rewards overall. 

Standard Benefits

• Auto rental collision damage waiver
• Roadside dispatch
• Emergency card replacement and emergency cash disbursement
• Warranty manager service
• Travel and emergency assistance 
• Visa Signature concierge

Cardholder Experience

Synchrony Bank, which issues the Nissan Visa Signature Card, ranked ninth out of 11 national card issuers and scored well below average in the J.D. Power 2021 U.S. Credit Card Satisfaction Study.

As a cardholder, you can contact the bank’s customer service team during their open hours. Most other major card issuers provide 24/7 customer service. There also seems to be an emphasis on email and online support rather than calling. You’ll also get access to your VantageScore credit score. However, many other major card issuers provide access to your FICO credit score, which is more widely used by lenders. 

You can manage your account online, but there’s no mobile app available for the card.

Security Features

Synchrony Bank provides the standard security features typical for major credit card issuers.

Fees to Watch Out For

For the most part, this card’s fees are typical for a credit card. One exception is that it doesn’t charge a balance transfer fee. However, there is no interest rate promotion on balance transfers, so you’ll pay your card’s regular APR of the prime rate plus 17.24% or the prime rate plus 23.24% on them.

Final Verdict

The Nissan Visa Signature Card looks good on the surface, with its high rewards rate on gas and dining. But because its rewards program is geared toward incentivizing purchases with Nissan, which generally don’t occur regularly, the card offers less flexibility than most rewards credit cards.

Even if you do spend a lot with Nissan, you may still get more value from a rewards credit card that offers better rewards on everyday purchases and more flexibility in how you can redeem them.