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
This card’s rewards program may seem one-note at first: You’ll earn the most on eligible purchases with GM and a lower flat rate on all other purchases. Couple this earning structure with the linked My GM Rewards loyalty program, however, and you’ll also earn on many other GM purchases.
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.
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 variable APR of 20.24 percent to 29.99 percent (based on creditworthiness) applies. While this offer is far from the longest intro APR period out there, retail cards often don’t come with intro APR offers. While there’s no balance transfer offer, 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 purchase $1,500 of fuel 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