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Can someone give me the jist of how the GM credit card works. I rack up quite a bit in charges. Right now I have a card with rewards but I would like to know what is the dollars charged to reward dollars ratio deal with GM???
Is there a limit to dollars credited toward a new GM?

Thanks
 

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With the new card you get back 5% on all purchases in GM dollars. You have no limit on amount you can accumulate. Each car has a different amount that is allowed on turning in your GM dollars. You can check out further at GMcard.com
 

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The above is for the "new" version. Both new and old give 5%. The old version max's @ $500/yr. and $3500/vehicle and cannot be used on Saturns most of the time. The new version, I believe, max's the amount per vehicle @ $2000 but allows you to do that in one year and start up another, etc. so if you charge a lot and buy a lot of cars, the new may be better for you. I used to also use a CitiCard Driver's Edge card which gave 2% towards any vehicle, new or used, but then they offered me a big 3.9% loan using that card and now it is just a loan and does not help with car purchases. A few years ago, I used $2580 from GM and over a thousand from CitiCard on a vehicle. Last year, one of my GM Card accts. max'd at $3500 and I did not use it and it would start disappearing at the 8 year mark so I let a brother use the $3500. ANYONE can be designated as a user of the card and then eligible to receive the GM Card rebate money. My other acct. is at the $3300 mark and climbing but part of it will start to fall off May 13th. So the timing of that acct. goes well with my 401K money coming in March and the current buyers' market for special interest/performance vehicles.
 

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I have the newer GM Matercard. Transferred over from the old version a few years ago. Last year I pulled the money out as cash and they sent me a check. According to the rules of my newer card, you can get cash instead of using it on a vehicle purchase, as long as it is in $50 increments. Works for me.

Mike
 

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GM Card is a Scam...

I've had the GM card since 2000, and they changed the rules and didn't bother to inform me! I was in the dealership making a deal on a Van with the understanding I could apply any amount of credits towards the purchase ( I rack-up over $1,000 a year on average)... when the salesman called in for the credit, we were told the rulels changed and there was a $1,000.00 cap!

To this day, I've never been informed I could do anything with the credits except for putting them towards the purchase of a new vehicle in VERY limited amounts.

I have over $5,000.00 in credits - what a waste!

I use the card now only for backup. Prefer the Discover card which pays real money @ 5% towards every purchase. I get a check for about $1,000.00 a year
consistently with no fine print.

Cash is always better than gimmicks.
 

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Mike in AZ said:
I have the newer GM Matercard. Transferred over from the old version a few years ago. Last year I pulled the money out as cash and they sent me a check. According to the rules of my newer card, you can get cash instead of using it on a vehicle purchase, as long as it is in $50 increments. Works for me.

Mike
How do you go about doing that???? I wouldn't mind pulling a few bucks out of mine. I have not seen where that can be done.
 

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Forget the GM card

STAY AWAY FROM THE GM CARD! I have had mine for about 6 years now. Apparently they changed the Rules about 2 years ago. You can't use the earnings if you have employee discount. So the website states you have to convert to the GM extended card, and they will transfer your points to that account. Unfortunately they refuse to convert my card. They said they would give me a new card but I will lose all my points. Hopefully I can work something out with the Dealer as I am trying to purchase an 05 SSR hopefully this week. Also as put restrictions on your points it varies per vehicle only so many can be used at a time, cash back is a better option. Chase Bank has cash back credit card which I am switching to.
 

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sheldon young said:
I use the card now only for backup. Prefer the Discover card which pays real money @ 5% towards every purchase. I get a check for about $1,000.00 a year
consistently with no fine print.

Cash is always better than gimmicks.
You get %5 cash back with no balance rollover?
 

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Had my GM Card since 1993. Have remained under the old plan and redeemed $6133.07. Paid less than $100 in interest in the 13 years I have had the card.
No complaints here.

When I max out the earning on GM Card for the year, I switch to my Delta American Express.
 
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