April 23, 2024

In line with AAA’s 2023 Your Driving Prices research, the typical worth of a brand new automobile is $34,876. This hefty value may end up in excessive month-to-month funds which may be troublesome to handle, relying in your price range and complete down cost.

Fortuitously, sure bank cards may help offset the price of a brand new automobile buy, together with the card_name. It affords a number of perks, together with no annual payment, an introductory intro_apr_rate,intro_apr_duration buy annual proportion fee (APR), and excessive rewards charges.

My GM Rewards CardTM

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Right here’s what to know concerning the My GM Rewards card, its professionals and cons, whom it’s proper for, and extra.

TIME’s Take

The card_name may very well be a precious addition to your pockets should you’re contemplating buying a GM car—particularly should you’re already a GM proprietor. The cardboard affords impressively excessive rewards, no annual payment, and assertion credit you need to use to scale back your car-ownership prices. Nonetheless, its small welcome provide, restricted redemption choices, and choose redemption caps are drawbacks you’ll need to think about earlier than making use of for this card.

Professionals and cons


  • No annual payment
  • Introductory 0% APR
  • Excessive rewards fee
  • Assertion credit and allowances


  • Restricted redemption choices
  • Small welcome provide

Who’s the cardboard for?

When you’re a loyal GM buyer planning to buy a brand new or used GM car quickly, the card_name could also be value a glance. It enables you to earn 7x factors in your GM purchases and 4x factors on all different purchases, which is a really excessive rewards fee in contrast with what many different bank cards provide. Along with its profitable rewards, the My GM Rewards additionally affords a number of different perks.

Nonetheless, the cardboard in all probability isn’t the correct selection for individuals who aren’t all in favour of buying a GM car. Its reward redemptions are targeted on GM services, so it doesn’t make sense should you aren’t a GM buyer.

Marcus by Goldman Sachs, the My GM Rewards issuer, signifies that you simply’ll doubtless want a 660 FICO rating or a 630 VantageScore to get authorized for the cardboard.


The card_name has a number of options that might enchantment to GM loyalists, together with the next:


You’ll earn 7x factors on every greenback you spend with GM and 4x factors on all different purchases you make together with your card.

Introductory buy APR

You’ll additionally profit from a intro_apr_rate,intro_apr_duration introductory APR on new purchases for the primary 9 months, which might be helpful should you’re planning to make use of your card to pay for a portion of a brand new or used GM car.

Assertion credit and allowances

Card members can earn a $100 assertion credit score by spending $1,500 per yr in fuel or utilizing their card to cowl six months of electrical payments. Moreover, the cardboard provides you a $50 detailing allowance if you get your automobile detailed at an eligible GM vendor.

The positive print

The salient factors of the My GM Rewards card embrace:

  • A reg_apr,reg_apr_type.
  • An introductory intro_apr_rate,intro_apr_duration APR on purchases for 9 months.
  • A money advance APR of cash_advance_apr.
  • No introductory APR for steadiness transfers.

It additionally options potent rewards for cash that you simply spend on GM merchandise and gasoline and electrical payments.

Further hidden perks

Along with the options above, the My GM Rewards card additionally comes with World Elite Mastercard advantages, the cardboard community’s highest advantages tier. These advantages embrace:

  • Zero legal responsibility fraud safety.
  • ID theft safety.
  • Emergency help by means of Mastercard World Companies.
  • Round-the-clock concierge entry.
  • Gold concierge entry.
  • Reductions on choose streaming and rideshare providers.
  • Entry to pick resort, flight, and rental automobile upgrades.

What may very well be improved

Whereas the card_name options some spectacular perks, it additionally has a number of key drawbacks. Its welcome provide is comparatively small. Cardmembers earn simply 15,000 factors (a $150 worth) after spending $1,000 within the first three months of card opening.

Its rewards-redemption choices are additionally lower than strong, being restricted to GM-focused services. That is positive for a GM loyalist however not for the on a regular basis client. You possibly can redeem your rewards for brand new, used, or leased GM autos; GM-certified providers; GM elements and equipment; and GM reward playing cards. Some reward caps additionally apply. As an example, you possibly can solely redeem $1,000 value of factors when buying a used GM car.

Card alternate options

For charges and charges of the card_name, please go to this URL.

Backside line

When you’re a devoted GM buyer, the card_name is likely to be value contemplating, as you possibly can solely redeem your rewards for GM services. A card that provides more-flexible rewards may very well be a better option if you wish to redeem your factors for money again, journey, or one thing else.

These eager about making use of for the My GM Rewards card ought to plan to take action shortly, although, as numerous information shops have lately reported that Goldman Sachs is planning to discontinue it.

My GM Rewards CardTM

Credit score rating


Regularly requested questions (FAQs)

What’s a card_name?

The My GM Rewards card is a bank card issued by Marcus by Goldman Sachs. It affords GM-focused rewards, no annual payment, and different advantages for present and future GM car homeowners.

Is the GM card being discontinued?

In line with November 2023 information experiences, Goldman Sachs might be discontinuing its card_name. Current cardholders can proceed incomes rewards with their playing cards.

How do I entry my GM Rewards?

You possibly can log into your My GM Rewards dashboard to redeem your rewards or assessment your factors steadiness.

What’s the credit score restrict on a card_name?

Marcus by Goldman Sachs doesn’t disclose its credit score restrict for the My GM Rewards card. As an alternative, your credit score restrict will doubtless be based mostly in your creditworthiness.

All details about the Chase Freedom Limitless® has been collected independently by TIME Stamped and has not been reviewed by the issuer.

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