Review: GM Credit Cards

Commonly thought of as simply the “GM Card,” there are actually 3 GM credit cards available, 2 for consumers and 1 GM business credit card. Our overview / review of available GM credit cards, along with links to apply via online or offline applications, is below:

  • The flagship BuyPower Card from Capital One is what most people would think of as “the GM Card.” It gives you a 5% rebate on the first $5000 in card purchases each year and 2% back on all purchases after that — the rebate dollars can be used toward the purchase of a new Chevy, GMC, Buick or Cadillac car. There is no limit to the amount you can earn and no limit to the amount you can use toward a new GM vehicle. Points don’t expire, so you can collect them without fear of losing them. There is no annual fee, and your interest rate will be either 13.9%, 17.9%, 20.9%, or 23.9%, depending on your credit history. You can apply via this online application.

  • The GM Extended Family Card is a very separate card from the standard GM Card. It allows GM employees, employee family members, suppliers, or anyone eligible for a GM employee discount to get savings on a new GM car beyond the employee discount. You can get 1% of your card purchases rebated back toward the purchase of a new GM vehicle, and those rebates can be used on top of your employee or supplier discount. Also, you have the option to take the 1% in cash instead. No annual fee. While this may sound good, simple math tells you that you’d be better off choosing one of the many cash back cards on the market that offers more than 1%, and taking the cash from that other card to put toward your GM vehicle.
  • The GM BuyPower Business Card also allows you to earn rebates on vehicles or get cash back: you get 5% back on purchases of GM parts, accessories and service; 3% back at gas stations, restaurants, and office supply stores; and 1% back on all other purchases. You’ll find an online application here.