My GM Rewards® Mastercard® review: An ideal rewards card for GM fans
A niche rewards card for the GM loyalist.
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Snapshot
4.1
Bottom line
The My GM Rewards Card earns big rewards on eligible GM purchases and everyday spending for staggeringly few fees, but the card’s limited redemption options may only make sense for GM car owners or lessors.
Intro offer
15,000 points
Rewards rate
4X - 7X
Annual fee
$0
Regular APR
20.24% to 29.99% variable purchase APR based on creditworthiness. Rates as of 8/1/2023
4.0
Cardholder rating
Meets needs
Online tools
Customer service
Information safe
4.1
Bankrate score
Rewards value
APR
Rewards flexibility
Features
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My GM Rewards® Mastercard® Overview
GM’s My Rewards Program offers solid loyalty rewards for nearly all things GM: eligible new and used vehicles, parts and accessories, dealership service and more. But the My GM Rewards® Mastercard® can take these rewards to another level. The card boasts a generous rewards rate on everyday purchases and GM-specific spending. It also offers several valuable perks and annual statement credits.
However, you’ll only get the full one cent per point value when you redeem points toward an eligible GM purchase. Other options come with a big cut in point value. So, while the My GM Rewards Card earns kudos for its low fees and high rewards rates, its limited redemption options make it worthwhile only for a niche audience of GM loyalists.
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Rewards
- 7X points on GM Certified Service, GM Genuine and ACDelco parts, eligible GM accessories, SiriusXM subscriptions and most OnStar and GM Protection plans
- 4X points on all other purchases
Expert Appraisal: Good
See our expert analysis -
Welcome offer
- 15,000 points after spending $1,000 on purchases within the first three months.
Expert Appraisal: Unimpressive
See our expert analysis -
0% intro APR offer
- 0 percent intro APR on purchases for 9 months
- 20.24 percent to 29.99 percent variable APR
Expert Appraisal: Typical
See our expert analysis -
Rates and fees
- No annual fee
- No foreign transaction fees
- No cash advance fees
- Late payment fee: up to $40
Expert Appraisal: Exceptional
See our expert analysis -
Other cardholder perks
- Automatic Gold Tier status
- Up to $50 each year towards vehicle detailing
- World Elite Mastercard benefits
- $100 statement credit when paying 6 months of electric bills or if you spend $1,500 on fuel per calendar year at eligible gas stations
Expert Appraisal: Good
See our expert analysis
What are the pros and cons?
Pros
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The card has remarkably low rates and fees, and no annual, foreign transaction, or cash advance fees.
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It has a great rewards rate for general purchases at 4X points.
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A relatively long intro APR could be helpful for large expenses like car repairs.
Cons
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The 15,000-point welcome offer is only worth up to $150 and is mediocre compared to other no-annual-fee cards.
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There’s an annual redemption value cap of $250 per year for statement credits with a poor redemption rate of 0.25 cents per point.
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Redemptions toward purchasing eligible Certified Pre-Owned GM vehicles are capped at $1,000 per calendar year.
Why you might want the My GM Rewards Card
While the My GM Rewards Card is tied specifically to GM dealerships, it has broader benefits that could be worthwhile. The rewards rates are great for GM vehicle owners who use the dealership services but also want a card that can be useful for general purchases. There’s also the added bonus of having fewer fees than most cards, making it a good no-annual-fee option for the GM loyalist.
Rewards Rate: Best flat-rate value on the market
The My GM Rewards Card earns 7X points on eligible GM purchases, including paid service, parts, accessories, WiFi at GM dealerships and select OnStar and GM Connected service plans. All other spending will earn 4X points, a much higher rate on general purchases than most cards.
Luckily, you can also earn extra rewards on other GM expenses through the My GM Rewards program with your Gold status, including 1X points per $5 spent on new GM vehicles and leases at a GM dealership, 2,500 points per pre-owned vehicle purchased at a GM dealership and 500 points per Protection Plan (i.e., extended coverage for certain repairs) purchased at a GM dealership.*
This combination provides solid rewards-earning value that can help build towards additional savings on GM expenses.
*Participating GM dealerships include Chevrolet, Cadillac, GMC and Buick dealership locations. Pontiac, Saab, Saturn, Hummer (H2, H3) and Oldsmobile owners may also be able to earn rewards on service, parts, etc. at these locations.
Intro APR: A rare addition for a retail card
The card comes with a 0 percent intro APR offer on new purchases for your first 9 months as a cardholder, after which the ongoing 20.24% to 29.99% variable purchase APR based on creditworthiness. Rates as of 8/1/2023 applies. While this offer is far from the longest intro APR period out there and has no balance transfer offer, retail cards often don’t come with intro APR offers. The intro APR could allow you to chip away at large expenses like car repairs.
Rates and fees: A unique, low-cost retail card
Retail cards and other co-branded cards are infamous for high rates and fees, but the GM Rewards card’s fees are among the best we’ve seen in this category. There are no annual fees, foreign transaction fees or cash advance fees to worry about. Compared to even the best no-annual-fee cards, this card will impact your budget less than most.
Benefits: Some valuable statement credits and a few extras
A useful card-exclusive perk is up to a $100 statement credit back when you make $1,500 in fuel purchases at eligible gas stations per calendar year (after offer activation) or when you make six electric bill payments per year if you’re charging an electric car (requires linking your electric vehicle to your My GM Rewards account). You can also get a $50 allowance toward vehicle detailing at a participating GM dealership. However, the value isn’t as much of a bargain considering full detailing packages can typically cost upwards of $200.
The My GM Rewards Card also carries World Elite Mastercard benefits, including partner perks and travel services. Highlights include:
- Peacock: $3 off Peacock Premium or $5 off Peacock Premium Plus each month
- Lyft: Receive a $5 credit each month after three rides or purchases
- ShopRunner: Free two-day shipping on all orders
- Instacart: 2 complimentary months of Instacart+ and $10 off your second order each month
Why you might not want the My GM Rewards Card
This card lacks auto-centric perks you might expect from a car rewards card and greatly restricts your redemption opportunities and value. You’ll miss out on common benefits like roadside dispatch service, auto rental collision damage coverage, travel insurance or purchase and extended warranty protections for large purchases.
Welcome Offer: The value drops quickly
As a new cardholder, you can earn 15,000 bonus points after spending $1,000 on purchases within your first three months. Welcome bonuses aren’t often available on niche co-branded cards and a $1,000 spend should be relatively easy to reach in the first three months, especially if you use the card for your everyday spending or large expenses like a car repair.
However, this offer weighs in at a maximum value of $150 if you redeem for eligible GM purchases and can plummet to nearly $38 if you redeem points for statement credits. A $150 bonus value is mediocre for a card with no annual fee. Many competitors offer at least a $200 value for an equal or lower spending requirement.
Redemption: Highly restrictive
Though there are many ways to earn rewards with the My GM Rewards card, the redemption process is tangled in restrictions. The ideal redemption is for a credit towards an eligible GM purchase at one cent per point. Conversely, redeeming for a statement credit will slash your point value down to 0.25 cents apiece. Statement credits are limited to $250 worth of redemptions per year (100,000 points).
There’s no limit when redeeming toward eligible GM purchases, but you can only redeem $1,000 worth of points (100,000 points) per year toward eligible pre-owned vehicles. To cover your GM purchases, you can redeem your points either at the dealership or through your online account for a statement credit. Along with statement credits, purchasing or leasing new or used vehicles, you can redeem for the following:
- Service at a GM dealership, including oil changes, tires, tire rotations, wiper replacement and brake and engine repairs
- Eligible accessories, including wheels and floor liners
- GM Genuine and ACDelco parts
- Select OnStar and GM Connected Services plans
- SiriusXM subscriptions
- GM Protection Plans for Chevrolet, Buick, GMC and Cadillac vehicles
- GM Financial monthly charges
Since you can only use your points once you receive your next billing statement, you can’t put the windfall of points you earn from buying a vehicle toward the cost of the vehicle itself. You’ll have to use your rewards toward future GM purchases, which means you’re essentially locked into buying from the dealership. You also can’t combine points with other discounts, packages or promotional offers, including the GM Fleet vehicle incentive program or any GM or GM-affiliated company employee discounts.
How the My GM Rewards Card compares to other rewards cards
Selecting rival cards to compare to the GM Rewards card is tricky since most cards don’t offer rewards tailored to car dealership or automotive purchases. A good zero-interest or flat-rate cash back card could be a rewarding option for vehicle-related purchases if you have enough money in the bank to cover it.
My GM Rewards® Mastercard®
Annual fee
Intro offer
Earn 15,000 bonus points after spending $1,000 in your first 3 months - that's $150 in value when you redeem with GM.
Rewards rate
Earn 7X total points for every $1 spent on GM purchases. Earn 4X points for every $1 spent on all purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Rewards rate
Earn unlimited 2% cash rewards on purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Capital One Walmart Rewards® Mastercard®
Annual fee
Intro offer
Introductory offer: Earn 5% cash back on purchases in Walmart® stores for the first 12 months when you use your card with Walmart Pay
Rewards rate
Earn 5% cash back on Walmart.com purchases, including pickup and delivery . Earn 2% cash back on purchases in Walmart® stores, Murphy USA and Walmart® fuel stations. 2% cash back on restaurants and travel purchases. 1% cash back on all other purchases everywhere else Mastercard® is accepted.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Best cards to pair with the My GM Rewards Card
Since the My GM Rewards Card is only valuable for GM-brand spending, many rewards cards can maximize your earning potential on other purchases. However, this card still has a rewards rate that many no-annual-fee cards can’t beat, so it may be best to pair it up with another card.
Who is the My GM Rewards Card right for?
While it carries useful benefits for most credit card users, this card is geared towards a very specific audience.
Bankrate’s Take — Is the My GM Rewards Card worth it?
If you’re willing to funnel all your rewards toward the cost of a GM car, services, or parts and repairs at a GM dealership, then the My GM Rewards Card can offer terrific rewards value and solid perks with remarkably few fees. Yet, the card’s laundry list of restrictions means only GM loyalists who spend heavily on GM purchases will benefit significantly.
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
Frequently Asked Questions
*The information about the Capital One Walmart Rewards® Mastercard®, GM BuyPower Card® and My GM Rewards® Mastercard® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
What cardholders think
My GM Rewards® Mastercard®
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.