That means, for every $1,000 you spend on the card for everyday purchases, you’ll earn $40 in points. But beyond GM’s spending, you still get 4 points per dollar on everyday spending - an extremely generous rate for a card with no annual fee. You’ll earn 7X points per dollar on qualified GM purchases, which is a valuable way to save money if you do a lot of business with GM. But, you only have to spend $1,000 to earn the bonus, which is an appropriately low threshold that most cardholders should be able to comfortably meet. These points equate to $150, which is relatively low when compared to other rewards cards such as the Blue Cash Preferred® Card from American Express. Easy-to-earn bonusĪs part of its welcome offer, GM Rewards cardholders can earn 15,000 bonus points after spending $1,000 within the first three months. Additionally, cardholders are able to receive maximum rewards on qualified GM purchases and can use points toward the purchase of a pre-owned Chevrolet, GMC, Cadillac or Buick vehicle. My GM Rewards card offers a generous welcome bonus, a variety of perks and one of the highest rewards rates among cash back cards, as cardholders can earn 4 points per dollar spent on everyday purchases. Why you might want the My GM Rewards Card At a value of 1 cent per point, the 15,000 bonus points offer is only worth $150.The introductory APR period on purchases is lower-than-average at 12 months. The redemption program is more restrictive than many rewards cards.The card also comes with no annual fee.īut, if you’re looking for a rewards card that may help lower some of your GM-related expenses, the My GM Rewards Card could fit the bill. For example, the Wells Fargo Reflect® Card offers a 0% introductory rate for 21 months from account opening on purchases and qualifying balance transfers (18.24%, 24.74%, or 29.99% variable APR thereafter) qualifying balance transfers transfers must be made within the first 120 days to qualify for the introductory APR, (balance transfer fee of 5%, min $5). If you want to finance a large purchase over time without racking up interest, you may be better off with a card that provides a longer interest-free period. You’ll also earn a whopping 4X points back on all other purchases.īesides the solid rewards rate, My GM Rewards comes with a 0% introductory APR on purchases for the first twelve months (19.99% to 29.99% variable APR thereafter), which is not as long as many cards on the market. The card debuts with no annual fee and a better-than-average rewards rate with 7 points for every $1 spent on GM-related purchases, including new and certified pre-owned vehicles and vehicle service. The new My GM Rewards enters the marketplace as Goldman Sachs’ charged-up replacement for the now-discontinued GM Buypower card.
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