GM's My Points program provides excellent loyalty rewards on a wide range of GM products and services, including new and used vehicles, parts and accessories, dealership servicing, and more.

The My GM Rewards CardTM, however, steps it up by offering a substantial rewards rate on both general and GM-specific spending, in addition to several valuable features, such as a $100 yearly statement credit for every $1,500 spent on gas.

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Obtaining Incentive

Seven times as many points are awarded when you use the My GM Rewards CardTM. So long as your account is in good standing, your points will never expire. One of the perks of the My GM Rewards CardTM is a welcome bonus of 15,000 points after spending $1,000 in the first three months.

Gaining Privileges

Rewards cannot be redeemed for cash but can be applied to purchasing an eligible new GM car at a rate of 0.01 penny per point. Up to $1,000 each year, your points can be redeemed for a lease on a certified pre-owned vehicle at any General Motors dealership in the United States that participates in the Program. You may redeem your points for monthly payments on your GM Financial account or subscriptions to SiriusXM and OnStar® Connected Vehicle Services at a partner dealer.

Rewards Prospects

Income and expenditure norms are calculated by Forbes Advisor using data from several government sources. Wage-earning families in the 70th percentile have a yearly income of $107,908.

From this total, we calculate that $32,072 is a reasonable amount to put on a credit card. We estimate the average cost per mile for servicing, fixing, and replacing tires on a brand-new vehicle is about $0.0955.

If you put 15,000 miles on your car each year, your minimum annual spending requirement for the My GM Rewards Card's 7 points per dollar category will be $1,432.50.

What's The Monetary Value Of The Incentives?

Your points will be 1 cent each when redeemed for eligible GM purchases. Also, if you want to exchange your points for a gift card, you'll have to give up some of their value because each point is only worth 0.25 cents in this scenario.

At 1 cent per point, the My GM Rewards Card offers a whopping 7% cash back on qualified GM purchases and 4% cash back on all other transactions, considerably outpacing the standard 2% cash back provided by the finest flat-rate cash back cards.

Extra Benefits For Cardholders

My GM Rewards card benefits are a mixed bag. The card lacks many fundamental automobile-centric features while having automatic Gold Tier rewards program status and a handful of crucial annual statement credits for vehicle grooming and gasoline or electrical charging. You won't have access to extras like emergency roadside assistance, rental car accident damage waivers, trip cancellation insurance, or extended product warranties.

Higher Redemption Limitations And Automatic Gold Tier Status

If you have a My GM Rewards card, you get the maximum yearly redemption limitations without climbing through the reward program's tiers. As a new cardholder, you will immediately be upgraded to the Gold Tier, and if you charge at least $15,000 a year, you will be eligible for the card's special Platinum Tier upgrade.

Up To $150 Per Year For Gas And Upkeep

Another unique benefit of this card is a statement credit of up to $100 for every $1,500 spent on gas at participating gas stations or six energy bill payments made in the same period. Additionally, you may obtain a $50 allowance toward vehicle detailing at a local participating GM shop if you're interested in giving your car a little TLC.

Payments And Interests

The GM Rewards card has some of the most reasonable rates and fees among retail and co-branded credit cards. There are no hidden costs, such as annual fees, fees for making balance transfers, cash advances, or penalty interest rates.

Cards with no yearly charge are standard, and many of them also remove international transaction fees and the penalty APR. However, cards with no balance transfer or cash advance costs are far more unusual.

How Beneficial Is It To Get A My GM Rewards Card?

The My GM Rewards Card may provide excellent credit value and some decent features with relatively few fees, but only if all of your rewards are applied to the purchase of a General Motors vehicle or the payment of servicing, parts, and repairs at a General Motors dealership.

However, the card's extensive list of limitations further specifies its target demographic to the point that only GM faithful who spend hundreds or thousands of years on GM products stand to gain.