Goodyear Credit Card Works: All the Benefits and Rewards

In addition to financing tyres and other goods and services purchased at Goodyear stores, the Goodyear Credit Card from Goodyear Tire & Rubber Company (NASDAQ: GT) can also be used at Exxon and Mobil gas stations (including Exxon/Mobil stations).

The Citibank-issued card includes a few bonuses, including a six-month grace period for some purchases. It's essential to read the tiny print on any credit card before signing.

How the Goodyear Credit Card Works

Using the card at a Goodyear store or on its website is like using a regular credit card. The issuer sets the maximum amount of revolving credit available through this product. The card's borrower can finance purchases made at Goodyear. The essentials:

• The 0% interest rate offer on expenditures of $250 or more for the first six months is the best feature of the Goodyear Credit Card for customers.
• Customers that are dealing with a flat tyre would appreciate this. If a cardholder pays down the sum in six months or less, no interest will be levied on the amount. Interest charges begin to accrue if the debt is not paid in full by the due date.
• And over 17,000 Goodyear stores around the country accept the card. There are Exxon, Mobil and ExxonMobil service stations where it can be utilized as well. Cash advances are also available.
• In other words, this is a "private label" card, not a general-purpose credit card that can be used at any location. A prospective customer may fill out an application at a Goodyear retail location or online through its official website. The majority of customers get a credit approval within minutes.

Benefits and Rewards

The zero-interest financing offered by this card is by far its most valuable feature. For purchases of $250 or more, a six-month interest-free period is an excellent offer. Firestone and Discount Tire, two of Goodyear's opponents in the tyre industry, both have similar deals.

For new customers, the Goodyear Credit Card offers a $225 mail-in or online rebate on chosen sets of four tyres and installation (discount ends March 31, 2022).

Cardholders typically save $5 on oil changes and receive a complimentary tyre rotation when purchasing with their card. Non-cardholders will not be able to take advantage of these special offers on the website or in the store.

The Goodyear Credit Card Has A Few Drawbacks

• You'll be hit with hefty interest rates if you go beyond the six-month grace period. The interest rate on the Goodyear credit card can range from 0% to 29.24%. According to its competitors, this is a reasonable price.
• Goodyear provides all services for oil changes, lube and filter replacements, tyre maintenance, and wheel alignments. In addition, a large variety of tyres are available. Only a portion of what you'll require to maintain your vehicle operational is listed above. Consider whether you want an additional credit card or an additional monthly cost for a limited selection of goods or services.
• Customer loyalty is at the heart of cards like Goodyear's. Since it has over 17,000 sites, you're likely to find a Goodyear store nearby if you need a new set of tyres right away. If you're willing to put in the effort, you might come upon a different supplier or brand of tyre you prefer.

Who Should Consider the Goodyear Credit Card?

With this card, loyal Goodyear customers save the maximum money on tyres and oil changes. Unexpected blowouts are no problem with this card. Your monthly budget can be severely affected by having a flat tyre or even a complete set of bald tyres. With the six-month interest-free offer, it is helpful to have a card on hand to deal with it.

This card could be helpful to a motorist who spends a lot of time on the road. Compared to other credit cards, the Goodyear credit card can save a family with numerous automobiles a significant amount of money on interest.

It may not seem like much, but a $5 discount on oil changes for people who drive frequently or maintain many vehicles in their household can mount up over time.

It's unlikely that someone who doesn't often spend money at Goodyear will find much use for the card in this situation. Keeping another credit card to save a few dollars here and there may not be worth the trouble.

The Goodyear Credit Card Requires What Kind Of Credit?

Goodyear and Citibank have not published specifics about the card's credit qualification requirements.

Generally, a credit score of "fair" to "good" on a scale of 0 to 850 is required for store-affiliated cards. It's easier to receive a private label credit card because credit limits are usually limited, which lowers the risk to the lender.

To Sum It Up

If you're regularly on the road or your family owns more than one vehicle, routine vehicle maintenance may be a significant portion of your household's budget, and an unexpected tyre blowout may be a substantial financial drain. If you're equipping an SUV or a truck, the cost of new tyres can go as high as $1,000 per tyre.

If you're a frequent traveller, a Goodyear credit card could be helpful if you can pay off the balance during the six-month grace period before interest is charged.

Even if you're only commuting to work in a decent compact, you might be able to get by with a credit card that is universally accepted.