Barclays streamlines General Motors (GM) credit card options, making them more straightforward.
In a significant move, General Motors (GM) has relaunched its rewards credit card program, consolidating it into a single, streamlined offering called My Rewards. The new program, issued by Barclays, aims to offer greater flexibility and value to GM's core U.S. brands: Buick, Cadillac, Chevrolet, and GMC.
Earning Points
Under the new program, cardholders can earn 7 points per $1 spent at GM dealerships on eligible products and services. This includes GM Genuine Parts, ACDelco Parts, GM Certified Service, OnStar, and GM Connected Services. For all other non-GM related purchases, cardholders earn 4 points per $1 spent. New cardholders can also enjoy a sign-up bonus of 30,000 points after spending $1,000 within the first 3 months.
Redeeming Points
The revised program allows members to redeem points toward the purchase or lease of a new GM vehicle, GM vehicle parts and accessories, GM services like OnStar and Super Cruise, and financing through GM Financial. Points can be used to reduce loan or lease balances. The program now allows members to combine points with Family First discounts available to GM employees, dealers, and suppliers.
Additional Program Details
The program enhances loyalty by helping members purchase higher MSRP vehicles, repurchase sooner, and encouraging servicing at GM dealers. The card offers no annual fee, no foreign transaction fees, and other perks such as statement credits for fuel or electricity use and vehicle detailing discounts at GM dealers. Points do not expire as long as the card remains active.
Important Considerations
While the program aims for flexibility, practical redemption may involve restrictions or require patience in customer service, as some cardholders have reported difficulties redeeming all of their points after the program's issuer change from Capital One to Goldman Sachs.
Later this year, GM and Barclays will launch the GM Business Mastercard, offering a higher earn rate on GM purchases and expanded redemption options. The changes to how points are earned and redeemed for automotive purchases mark an important first step toward a stronger, more unified program.
Sources:
- Detroit Free Press
- GM Rewards Program Details
- Javelin Strategy & Research
- Barclays Press Release
- Consumer Reports
- The My Rewards credit card program, introduced by General Motors and issued by Barclays, not only includes earning points for GM purchases but also for business expenses, given that technology plays a significant role in today's business environment.
- In the future, with the launch of the GM Business Mastercard, the company aims to provide even greater value to its business clients by offering a higher earn rate on GM purchases and expanded redemption options, further integrating finance and technology into their business operations.
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