[IWannaVolt]

I hear many of you have/ take advantage of the GM Rewards Credit Card. I'm curious about this and had a few questions.
1) How much can really be saved from a vehicle? I hear about the Top off thing at the beginning of the years and things like that but when it come to points to dollars. Is it like some others that advertise 1 cent per point?

2) I am one to get a car and hold on to it this concerns me slightly when I think well i rack up 6+ years and who knows what GM will the offer? I also noticed the points are for new car purchase only this feels like a huge drawback with the used car buyers. Has anyone been able to use points for anything other then a New vehicle?

 

[flmark]

There are multiple iterations of the card. I still have the original, although it will probably depart at some point in lieu of the current offering. When I got my card in 1992, it was 5% off all purchases- period. That was it, no strings attached. You could spend twenty grand a year on the card, for example, and accumulate a thousand bucks of rebate, which could be added up until you were ready for your next GM. Wait five years- five grand off. There is a $39 annual fee to keep my card (which is added back as rebate).

Then, the limits started showing up- how much you could accumulate- how long the rewards could last. Currently, I am limited to $500 per year for 7 years. But it is still 5% on ALL purchases. I now pull out the card and max out my $500 before my July anniversary.

The next iteration of the card had no limits on accumulation, but did have limits on how much you could use on a car. (Often $1000). I had no interest in that version, but for those who want to swap out cars every year or two, it might be a good deal.

The current iteration only gives you $250 worth of rebate at the 5% level and then drops off- BUT, there is no time limit on the accumulated rebate. Since I expect to keep my Volts for a long time, this newest version has some appeal for me.

If you KNOW you will be buying GM vehicles, the card is a decent one to have in your wallet. A 5% rebate is typically more than double of how much you can get back from pretty much everything else out there. That is why I hang onto mine.

How much has it been worth to me? My statement tells me that, from my 1993 Buick Roadmaster onward, I have cashed in $13,487.71 in rebates. A decent return, it would seem. [List of cars that got some rebate: 1993 Buick Roadmaster, 1997 Olds LS, 2001 Olds Aurora, 2008 Tahoe Hybrid, 2012 Chevy Volt (two of them)]...of course, if you do the math in reverse, it means I have utilized the card for about $270K worth of purchases in the two decades between first and last cars purchased. I have current earnings stored up of $1150.

 

[firehawk72]

I hear many of you have/ take advantage of the GM Rewards Credit Card. I'm curious about this and had a few questions.
1) How much can really be saved from a vehicle? I hear about the Top off thing at the beginning of the years and things like that but when it come to points to dollars. Is it like some others that advertise 1 cent per point?

2) I am one to get a car and hold on to it this concerns me slightly when I think well i rack up 6+ years and who knows what GM will the offer? I also noticed the points are for new car purchase only this feels like a huge drawback with the used car buyers. Has anyone been able to use points for anything other then a New vehicle?

As flmark has pointed out, there are many things to consider. I would suggest simply looking to buy a used car if saving money is an issue instead of trying to rack up a new car discount. It is just so hard to justify buying a new car for so many reasons. The Volt has truly been the exception to the "new car" buying rule. In many cases it was cheaper to buy a new car rather than a used one, but this is only true because of the massive tax credits from the federal government and sometimes states. I would also add I have always thought that I would be more tempted to trade more often knowing I had X amount of dollars on a GM card.

 

[electrcglide]

The best thing to do is go to www.gmcard.com and pick out the card that works for you, in addition any earnings can be used for leasing a vehicle.
---------------------------------------------------------------------------------
2014 ELR, Crystal Red, #00159

 

[Jim Fallston Md.]

They also now let you use your earned dollars/points for service visits to your GM dealer.

 

[bro1999]

I got a GM card the summer of '13. I made one $61 dollar purchase worth about $3 in rewards. Then come January 4th, 2014, I got topped off to $2k. I had the version that allowed unlimited 5% rewards, but limits on redemption amounts according to vehicle. Unfortunately I wasn't in the market for a vehicle, otherwise I would have basically had $2k of free money to play with.

 

[IWannaVolt]

Thanks all, I really like the idea of being able to use this on service charges at a GM dealer, I hope with or without a gm vehicle. I like the comment bro1999 if this allows me to do this I could get plenty of traction on a new vehicle planning '16 volt at the time which is what is making me curious about this I'm also planning to buy mid next year hoping price comes off MSRP a little bit as well. flmark I'm glad you got so much use out of your card I only use credit for the benefit of rewards so determining the best options is the only thing that matter give me 50% interest I don't care I will never have to pay it.
Have most of you noticed top offs around $2k? What kind of vehicle redemption limitations are there?

 

[llninja]

Thanks all, I really like the idea of being able to use this on service charges at a GM dealer, I hope with or without a gm vehicle. I like the comment bro1999 if this allows me to do this I could get plenty of traction on a new vehicle planning '16 volt at the time which is what is making me curious about this I'm also planning to buy mid next year hoping price comes off MSRP a little bit as well. flmark I'm glad you got so much use out of your card I only use credit for the benefit of rewards so determining the best options is the only thing that matter give me 50% interest I don't care I will never have to pay it.
Have most of you noticed top offs around $2k? What kind of vehicle redemption limitations are there?

If you already have $2K accumulated, they up the topoff to $3K. The original GM card had no redemption limits (which is what I have - I've bought two cars with over $3500 off collecting for 14 years). The "new" (now old) GM card had redemption limits. Most cars were $1000-1500, but caddys and suburbans could get $2000-3000. The newest GM Buypower has no redemption limits, but to be able to get a free car, you need to launder a few million dollars through your credit card.

Some people like to buy new cars every few years utilizing the topoff to offset the depreciation of trading in frequently. I in the other hand, drive my cars into the ground and buy only when needed, instead of when wanted like most others.

 

[imanjunk1963]

There are multiple iterations of the card. I still have the original, although it will probably depart at some point in lieu of the current offering. When I got my card in 1992, it was 5% off all purchases- period. That was it, no strings attached. You could spend twenty grand a year on the card, for example, and accumulate a thousand bucks of rebate, which could be added up until you were ready for your next GM. Wait five years- five grand off. There is a $39 annual fee to keep my card (which is added back as rebate).

Then, the limits started showing up- how much you could accumulate- how long the rewards could last. Currently, I am limited to $500 per year for 7 years. But it is still 5% on ALL purchases. I now pull out the card and max out my $500 before my July anniversary.

The next iteration of the card had no limits on accumulation, but did have limits on how much you could use on a car. (Often $1000). I had no interest in that version, but for those who want to swap out cars every year or two, it might be a good deal.

The current iteration only gives you $250 worth of rebate at the 5% level and then drops off- BUT, there is no time limit on the accumulated rebate. Since I expect to keep my Volts for a long time, this newest version has some appeal for me.

If you KNOW you will be buying GM vehicles, the card is a decent one to have in your wallet. A 5% rebate is typically more than double of how much you can get back from pretty much everything else out there. That is why I hang onto mine.

How much has it been worth to me? My statement tells me that, from my 1993 Buick Roadmaster onward, I have cashed in $13,487.71 in rebates. A decent return, it would seem. [List of cars that got some rebate: 1993 Buick Roadmaster, 1997 Olds LS, 2001 Olds Aurora, 2008 Tahoe Hybrid, 2012 Chevy Volt (two of them)]...of course, if you do the math in reverse, it means I have utilized the card for about $270K worth of purchases in the two decades between first and last cars purchased. I have current earnings stored up of $1150.

I have the same but one other note. If you order a car as I did and call the service desk to fax them a copy of your order, they will freeze the account for 90 days WHILE YOU STILL accumulate more dollars up to 4k with idea you have a car on order an no existing dollars accrued will expire during those 90 days. I did not know they offerred this courtesy trick and was able to use about 3750 on my 2014 ordered volt. I start the proces over in hopes of maybe upgrading to the 2nd or 3rd year of the new gen2.

 

[llninja]

The scary thing is that my anniversary is dec 1st, and by feb I hit my $500 annual limit on my original GM card. That's not a good sign... I'm spending too much, too quickly.

 

[Hal in Houston]

I had the original GM rewards. Got some off my 2001 Blazer, and it was maxed out when I ordered my 2011 Volt. Unfortunately, if you read the small print GM determines if your reward money can be used for your purchase.(Just like travel miles during "blackout" dates for other cards.)
Talked and wrote to many people at GM and GM Rewards and they wouldn't budge, so $3500 picked from my pocket.
So I switched to a cash rewards cards from a real credit card company. (A bird in the hand...)

Make your own decision, but I will never have another GM rewards card!

Do you think they will let you buy a new Bolt with your rewards? Just saying...

 

[llninja]

I had the original GM rewards. Got some off my 2001 Blazer, and it was maxed out when I ordered my 2011 Volt. Unfortunately, if you read the small print GM determines if your reward money can be used for your purchase.(Just like travel miles during "blackout" dates for other cards.)
Talked and wrote to many people at GM and GM Rewards and they wouldn't budge, so $3500 picked from my pocket.
So I switched to a cash rewards cards from a real credit card company. (A bird in the hand...)

Make your own decision, but I will never have another GM rewards card!

Do you think they will let you buy a new Bolt with your rewards? Just saying...

That's strange, I got over $3600 of GM Card rebates with my original GM card. Alas it was for a 2013 volt, so maybe that blackout was over.

 

[Scarlett]

I've used about $12000 over the years. You aren't going to get a 5% reward from many credit cards. As far as I am concerned, it if free money and you are near crazy not to take advantage of it. I don't have a great interest in buying a foreign car as a DD (Except maybe a Honda S2000, but sadly they are gone now) and I never liked much from Ford or Chrysler, so I am the perfect GM guy, I guess. I would not otherwise buy new cars for all of the reasons that get pointed out here frequently. I figure that the $2500 or so that I save on a new GM absorbs the hit of the big depreciation of the first year. So I can drive a new car for the same price as buying a one or two year old used one. New, no worries about who abused it before me, new tires, new everything, full warranty.... I'm good with that thinking. Over 20 years, I have used my $500 ever year plus some top up money on a couple of occasions. I think I have saved about $12K total. Basically, if you know you will be buying a GM car in the future, or even think you may buy one, why wouldn't you be using a GM car to get your $500/year? Like LLnnja says, Plan ahead GM Card.

If you don't know how it works, basically, you do not tell the sales person at the dealership anything about your GM card when working the deal. You cut your best deal on the car, then tell the salesperson that you have a GM card. The money you have racked up on it comes off of the price you agreed on. Never had a sales person question me at that point. Most think I am pretty smart when they realize the actual price I am paying. And when I tell people what I paid for cars, they refuse to believe it. I have had to get a purchase order out on a number of occasions.

Steve

 

[llninja]

Like LLnnja says, Plan ahead GM Card. .

Steve

Wait, for the record it was Scarlett who PMed me suggesting I add the phrase about the GM card. It cause me to bump Ari from the most frequent answers list where you have to supply with the question.

 

[stuski]

Another option is to use the Costco Auto buying program. My dealer in Anchorage used it and I saved more money than I had saved up on my GM Rewards card. Plus GM gives you an additional 750 dollars if you are a USAA member. Plan on getting the 2016 Volt later this fall too!

 

[Scarlett]

I'm not sure why you couldn't do the Costco buying program to get the police of the car established, the use your GM card dollars and your USAA membership to further reduce your actual out of pocket cost. They should be stackable afaik.

 

[aceinsp]

I have the original card that I used to purchase several vehicles over the years. Then they changed it to 1% but at least I get to use that plus my GM discount and USAA card plus Credit union discount plus what ever else they give for discounts. Has worked good. I'm not one to go nuts using a credit card just to get points. Later aceinsp

 

[firehawk72]

I would like to give this thread a bump as I am rethinking a GM BuyPower Card for different reasons. My daughter is getting closer to the driving age as she is now 15 (been giving her lessons in our LONG driveway) and we also have another younger daughter too. I am not interested in charging everything to this card as we currently do with our Citi card that earns 2% flat rate on everything because we may not purchase a new car at all as I generally don't. What I am considering mostly is the possibility of getting a serious Top Off offer at some point in the future if we did get a GM BuyPower Card. When the time comes to purchase (or possibly get an insane lease) another car, we will probably purchase used; however, sometimes with big discounts, plus private offers, plus Farm Bureau, plus a large top off offer, plus the federal tax credit, plus a loyalty reward, might sway me to purchase or lease something new for myself or my wife and let my daughter drive my current Volt. This is assuming that the stars align just right for it to happen. Generally, I like to buy used, but with EREVs sometimes it is tough to justify if the discounts are large enough. Can someone weigh in on the new GM BuyPower Card, specifically about Top Off offers? Does GM still give them? Is there anyway to determine what amounts might be offered or how that is calculated? Any info would be appreciated. This would be a new card as we currently don't hold one. Just thinking out loud here.

Also, from you own experience...is a person more or less likely to get a top off offer by charging more or less?? Sounds weird I know, but for example, if a person had 2.5k in rewards would GM offer them a 2 or 3k top off offer in addition to their earnings? Or would GM be more likely to offer that amount to a person that only had $500 in rewards? Examples would be appreciated.

 

[llninja]

I would like to give this thread a bump as I am rethinking a GM BuyPower Card for different reasons. My daughter is getting closer to the driving age as she is now 15 (been giving her lessons in our LONG driveway) and we also have another younger daughter too. I am not interested in charging everything to this card as we currently do with our Citi card that earns 2% flat rate on everything because we may not purchase a new car at all as I generally don't. What I am considering mostly is the possibility of getting a serious Top Off offer at some point in the future if we did get a GM BuyPower Card. When the time comes to purchase (or possibly get an insane lease) another car, we will probably purchase used; however, sometimes with big discounts, plus private offers, plus Farm Bureau, plus a large top off offer, plus the federal tax credit, plus a loyalty reward, might sway me to purchase or lease something new for myself or my wife and let my daughter drive my current Volt. This is assuming that the stars align just right for it to happen. Generally, I like to buy used, but with EREVs sometimes it is tough to justify if the discounts are large enough. Can someone weigh in on the new GM BuyPower Card, specifically about Top Off offers? Does GM still give them? Is there anyway to determine what amounts might be offered or how that is calculated? Any info would be appreciated. This would be a new card as we currently don't hold one. Just thinking out loud here.

Also, from you own experience...is a person more or less likely to get a top off offer by charging more or less?? Sounds weird I know, but for example, if a person had 2.5k in rewards would GM offer them a 2 or 3k top off offer in addition to their earnings? Or would GM be more likely to offer that amount to a person that only had $500 in rewards? Examples would be appreciated.

GM stopped doing big top offs this January and now gives $750 bonus rebates instead. I got one in Jan and another in May. So they happen more often, are less of a benefit, but I have the original GM card which has annual limits capped at 7 years of earnings, but no redemption limits. I'd be tempted to get a BuyPower card if I was spending a ton of money as I could then potentially buy a car for free after running $3-4M through the credit card. I wonder if one owned a company whether you could use that to buy company office supplies and computers then reap the benefits in the rebate.

It used to be if you had $500 in rewards, you'd see it bumped up to $1500, and N if you had $2K it might bump up to $3.5k. But no more. So this $750 bonus is nothing compared to the $3.5K I get by diligently buying $10K of stuff per year on my card. I'll need to do the math someday to see if me putting everything on the newer credit card will net me more, it might. But alas, I've been piling onto a Barclaycard which gives me 1% towards buying my next apple product. So maybe if I push $10M through that, I can afford the next Apple car paid for with a huge stack of $25 Apple gift cards.

 

[firehawk72]

Thanks, I didn't realize that there was no longer a top off offer.