GM Improves Rewards Program on Credit Cards
GM has announced a significant improvement in the rewards program for its credit card.
The new GM Card from Capital One has no limit on the amount of rewards you can earn and no expiration date for your points. Previously, the GM card capped the earnings at $500 a year.
The new card also offers 5% earnings for the first $5,000 spent on the card each year, which can be applied towards the purchase of a new Chevrolet, Cadillac, GMC or Buick. Cardholders earn 2% on transactions over $5,000.
There is no annual fee for the new GM card, and there are no balance transfer fees. GM is offering 0% APR for the first 12 months of card membership. The ongoing APR is 11.9% to 19.9%, depending on your credit worthiness.
This card is not everyone. You need to have good credit to be approved for a GM credit card, and you must be willing to apply your rewards towards the purchase of a new GM vehicle. Some models are excluded from the program, including all pre-owned GM cars.
If you are a die-hard Chevy driver who buys a new car or truck every few years, this card is one you must consider. And now, it has an enhanced rewards program.