Rewards Potentialįorbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages. Points may also be redeemed at a rate of $0.0025 per point toward up to $250 in gift certificates each year (100,000 points). Points can be used on eligible GM service, parts and accessories purchased from a participating dealer, OnStar® Connected Vehicle Services or toward eligible GM Financial monthly charges and SiriusXM. with a yearly maximum of $1,000 in value (100,000 points). Points can also be redeemed for a lease toward an eligible Certified Pre-Owned vehicle at a Program participating GM dealership in the U.S. Rewards cannot be redeemed for cash back, but may be redeemed at a value of $0.01 cent per point toward an eligible, new GM vehicle purchase. The My GM Rewards Card™ includes a first-year welcome bonus: 15,000 bonus points after spending $1,000 in the first three months.
Points don’t expire as long as the account remains in good standing. The My GM Rewards Card™ earns 7x total points with GM. With Platinum status, access to exclusive GM experiences and a dedicated member support specialist are unlocked as well. Though earning is not impacted by status, redemption maximums are increased once Platinum Status is achieved. To achieve Platinum Status, a cardholder must spend $15,000 annually on the card. The My GM Rewards Card™ comes with automatic Gold Status with the My GM Rewards Program, meaning points will not expire as they do with Silver Status after five years. World Mastercard Elite Benefits such as zero fraud liability are included, though notably missing from the list is MasterRental, Mastercard’s auto rental collision damage waiver benefit. A $50 annual vehicle detailing allowance is included and authorized users are permitted. Cardholders can either earn a $100 statement credit after spending $1,500 on fuel per calendar year or earn a $100 statement credit when using the card to pay six months of electric bills. This limited redemption option means this card should only be used by customers who want to make cash back count (albeit at a respectable rate) toward buying, leasing, repairing or outfitting a GM vehicle.Įxtra benefits of this card are fairly generous, too. A yearly maximum is also extended to gift cards, but at a quarter of the value-the gift card redemption isn’t particularly worthwhile from our seat. Though point redemptions are limited when it comes to buying eligible pre-owned vehicles from participating dealers, there are no limitations on using points toward an eligible, new GM vehicle. The card also offers a welcome bonus: 15,000 bonus points after spending $1,000 in the first three months and an introductory APR offer: 0% intro APR on purchases for the first 12 months, then a variable APR of 17.99%-27.99% applies. Issued by Goldman Sachs’ Marcus division, the My GM Rewards Card™ charges no annual fee nor any foreign transaction fees and earns 7x total points with GM.
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