Credit cards can be presented in different classes or types that work for specific things, such as reward credit cards, which work to receive discounts or, better, money reimbursements for purchases you make, that’s why we will talk about the GM Credit Card. What is it for? And also we are going to say you that you must try to obtain it.
The GM reward credit card is basically a co-branded reward credit card program with other consumer credit cards and even business credit cards, which are prepared by the company Capital One, one of the main advantages of these credit cards is that they allow the titular user to accumulate profits or rewards that can be used in the purchase of new vehicles of the GM brand. It is a marvelous advantages that everybody can approve.
The first credit card that was offered under this credit card program was issued in 1992, the company invested a total of seventy millions dollars for credit card advertising in the first year of launch. This card was received by General Motor customers with great enthusiasm, and to this date it remains at a high level of acceptance.
These credit cards offer holders of these, a refund equivalent to 5 % of the first $ 10,000 you spend on purchases made with the credit card in one year ($ 500 in earnings for the first twelve months). What a credit card!
The Credit Card GM had for the first days of launch a card called “Gold” that offered holders of this a refund equivalent to 5 % of the first 20,000 dollars spent in the first twelve months, which is equal to saving about 1,000 dollars in a year, though, the Gold program was in effect for a couple of years after being suspended by the company.
GM credit card work
The GM Credit Card, like all other existing credit cards (or the vast majority at least) has a fairly specific and interesting functionality, so we’ll tell you a little about how the GM Credit Card works.
The credit card provides the holder with an unlimited refund equivalent to 5 % of the first $ 10,000 that is sold during the first twelve months through the GM Credit Card.
This credit card has an annual interest rate or APR of $ 39 and that can also be applied to the profits as well as being used for the purchase of a GM brand car. It is the best program among all credit cards that can be issued by the GM Company, the points you earn with this card will expire when they have passed seven consecutive years, first in, first out. You have to keep this in your mind.
The credit card program is still valid today, in fact, there are several people who have this program because they are early applicants for this credit card and its programs in the early 1990s, and also, the card was temporarily unavailable to those applicants who entered the earnings programs of the subsequent (or lower) GM Credit Cards.
The card can be obtained with different variants so that you can choose the one that best suits you and your needs such as GM’s flexible earnings credit card and some of its other variants, which we will discuss later. You can take the option whatever you want.
What are the GM credit cards you can choose?
Credit cards (or at least the vast majority of these) have other sister credit cards or variants that work for other things than the card you are using, so we want you to know which GM Credit Cards you can use. Choose, since you have at least three different variants among which you can choose the one that best suits your financial needs.
The GM card
The aforementioned, which offers a 5 % refund on the first $ 10,000 in purchases made with the GM card, consists of an annual fee of $ 39 applied to profits for the purchase of a GM brand car.
The GM purchase card
It offers a 5 % unlimited refund on the first 5000 dollars expended through the use of the same, apart from 2 % in annual purchases made through the card that can be applied for the purchase of a vehicle of the GM brand.
The GM flexible earnings card
It offers an unlimited 3% refund on all purchases and the refund can be used for the purchase or lease of a GM vehicle. It also allows to receive refunds in cash of 1% of the purchase.
The GM extended family card
The Extended Family credit card offers holders who have such a credit card the option to combine GM employee and supplier discounts with 1 % profits when buying any type of car, as well as having the option to receive a 1 % refund.
The Buy Power business card
This credit card is a business card (which is issued by the company Capital One and has the name Buy Power) that offers unlimited 5 % profits in GM brand dealers.
Redemption of rewards from the GM credit card
You already know some other things regarding the GM Credit Card, which are the variants among which you can choose at the time of acquiring one and how it works, so now it’s time to show you the rewards redemption of the GM Credit Card. But you can enjoy from an others advantages of the GM Credit Card too.
The profits you receive through credit cards can be used for the purchase or lease of any vehicle that is GM brand that you can find in most of the Chevrolet, GMC, Cadillac or Buick dealers.
Earnings can be redeemed as well as other discounts, although there are some exceptions, such as the GM Credit Union member discount, the dealers’ employee purchase program, and other types of programs that have to do with dealership workers of the company.