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TheHiddenFlask 
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
 Online
| The GM Card (Posted on 9/17/12 at 10:58 am)
This has to be one of the best cards out there if you are going to buy a new GM vehicle at least every 7 years?
5% back on everything.
The only downside is the cap per purchase is pretty low, but this would make a great "second card" to supplement and Amex, right?
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Chris4x4gill2 
Alabama Fan
North Alabama
Member since Nov 2008
1527 posts
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Had it for several years. Never used the rebate.
I prefer the cashback rewards now, typically just apply it t othe statement. Its nto as high of a % back (can be up to 5% though) but I actually use the rewards
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Beerinthepocket 
LSU Fan
Dallas
Member since May 2011
331 posts
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Parents have had one for years, it used to be ridiculously awesome until they capped the benefit per year since we always buy GM vehicles. I guess if you just use it until you hit the cap and then don't use it until the next year it's alright.
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BACONisMEATcandy
LSU Fan
My opinions are my own
Member since Dec 2007
37938 posts
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I think they capped it to $2500 off a car purchase... am I wrong?
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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
Online
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quote:
The "Redemption Allowance" is the maximum amount of Earnings that can be used toward the purchase or lease of each eligible, new GM vehicle. The Redemption Allowance for any given model is set at the start of the model year. For instance, limits on 2012 models include:
up to $1,000 on the Chevrolet Cruze or Buick Verano; and
up to $1,500 on the Chevrolet Silverado or Cadillac CTS; and
up to $2,000 on the GMC Yukon; and
up to $3,000 on the Chevrolet Corvette or Cadillac Escalade
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BACONisMEATcandy
LSU Fan
My opinions are my own
Member since Dec 2007
37938 posts
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Wow... It's getting worse and worse. I know in 2003 the cap was $5k on suburbans 
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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
Online
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quote:
Wow... It's getting worse and worse. I know in 2003 the cap was $5k on suburbans
Yeah. There is limited upside to it.
It just depends on how often you buy vehicles, I guess.
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lsu711
LSU Fan
Member since Sep 2003
5365 posts
Online
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The caps are lower, but now you can combine rewards with other incentive programs. A few years ago they wouldn't let me apply card rewards with the recent college grad discount.
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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
116244 posts
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Seems like a terrible idea only because you'll be trapped into buying a GM
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dewster 
Maryland Fan
TN
Member since Aug 2006
4737 posts
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5% is better than the cash back I get with my Amex.
I get a supplier discount with GM products. Can you use the card earnings with other discounts?
Might need to look into this. I've had great luck with GM trucks in the past. We probably won't need a new vehicle for a few years....so that should give me time to load up the points.
5% is a good deal. The caps are really not bad if you have more than one car.
This post was edited on 9/17 at 10:49 pm
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Jim Rockford
LSU Fan
Member since May 2011
23935 posts
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I have a thousand bucks in GM earnings on mine right now. Plus, sometimes they'll double or triple your earnings if you buy a vehicle within a certain time period, usually in the winter when sales are slow.
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Jim Rockford
LSU Fan
Member since May 2011
23935 posts
| re: The GM Card (Posted on 9/18/12 at 12:56 am to Powerman)
quote:
Seems like a terrible idea only because you'll be trapped into buying a GM
GM is the only dealership in my town so you have to buy a GM vehicle anyway if you want it serviced locally.
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Tigah in the ATL
LSU Fan
Atlanta
Member since Feb 2005
21020 posts
| re: The GM Card (Posted on 9/18/12 at 2:01 am to Jim Rockford)
quote:
GM is the only dealership in my town so you have to buy a GM vehicle anyway if you want it serviced locally.
When you buy a Honda you don't have to get it serviced.
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756
LSU Fan
Member since Sep 2004
8632 posts
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You lost me when you said GM product- I used to be GM loyal- bought 6 in a row until the last of the 6 - a total piece of junk, GM has thrown quality out the window
Take away their truck business and they will go under.
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dewster
Maryland Fan
TN
Member since Aug 2006
4737 posts
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Honda invented a car that doesn't require maintenance? That's impressive.
I grew up in a small town with parents who liked Japanese cars.....none of the local mechanics could fix them, and the numerous warranty repairs had to be performed at a dealer 50 miles away. That added significant repair costs and down time to cars that seemed to break far more often than the domestic car (Buick) they own now.
You have to take that into consideration in rural areas with Japanese cars. It's even worse for European cars.
This post was edited on 9/18 at 9:26 am
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Sheep 
USA Fan
Straight Outta Acy
Member since Jun 2007
13222 posts
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quote:
The only downside is the cap per purchase is pretty low
Well, that and you have to buy a GM vehicle.
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tigeryat
LSU Fan
God's Country
Member since Oct 2005
2411 posts
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quote:
Had it for several years. Never used the rebate.
This.
Chase Rewards Pays 3% cashback and you can buy whatever car you want.
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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16420 posts
Online
| re: The GM Card (Posted on 9/18/12 at 10:47 pm to tigeryat)
quote:
Chase Rewards Pays 3% cashback and you can buy whatever car you want.
You forgot the giant asterisk.
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cbtullis
LSU Fan
Baton Rouge
Member since Apr 2004
2779 posts
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I was a finance manager in the auto industry for 7 years with gm.
It used to be a great card for customers, but in 2005 when you started seeing 0% financing or gm supplier for everyone it was a terrible thing. Can't tell you how many cardholders were extremely pissed off.
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reb13 
Ole Miss Fan
Oxford, MS
Member since May 2010
8233 posts
Online
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I remember we bought a Buick with one of these deals. My parents had like 5000 in incentives towards the car.
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