My GM Rewards Card™ Review [2024]: The Best Card for GM Lovers?

CREDIT CARDS - 0% APR CREDIT CARDS
Use the My GM Rewards Card to earn rewards and help fund your next GM vehicle purchase.
Updated Jan. 20, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Credit cards from specific car manufacturers don’t typically offer much value compared with other options. This is because they often lack helpful benefits or the earning potential is low. But the My GM Rewards Card™, which replaces the GM BuyPower Card, aims to change all that with benefits geared toward new and existing GM (General Motors) vehicle owners.

In this My GM Rewards Card review, we’ll discuss this new card’s benefits and drawbacks, as well as how earning and redeeming points works. This will help you decide whether the My GM Rewards Card makes sense for you.

Valuable Earnings for GM Customers

My GM Rewards Card™
4.0

My GM Rewards Card™

Current Offer

Earn 15,000 points after spending $1,000 in the first 3 months

Annual Fee

$0

Rewards Rate

7X points on GM purchases and 4X on all other eligible purchases

Benefits and Drawbacks
Card Details

In this My GM Rewards Card Review

Who should get the My GM Rewards Card?

The My GM Rewards Card offers points for all eligible purchases you make, and you can redeem your points for many GM-related expenses. This includes the purchase of a new GM vehicle or a certified pre-owned one and eligible services, parts, and accessories. Brands from GM include Cadillac, Chevrolet, GMC, and Buick.

If you don’t drive a GM car or aren’t interested in getting a new or pre-owned GM vehicle, this card likely wouldn’t make sense for you. The redemption options are geared toward GM purchases, and that won’t suit everyone.

But if you’re a happy GM vehicle owner or you plan on becoming part of the GM family, this card might be a good fit. You would still be limited with how you can use your points, but it could make sense if you have a lot of GM-related expenses. Additionally, getting 0% intro APR on purchases for 9 months from the date of account opening, and then 20.24% to 29.99% (variable), could be useful.

Card basics

Card type Rewards
Credit card issuer Goldman Sachs
Credit card network Mastercard
Annual fee $0
Intro bonus Earn 15,000 points after spending $1,000 in the first 3 months
Reward rate 7X points on GM purchases and 4X on all other eligible purchases
Recommended credit score Good, Excellent
Intro APR 0% intro APR on purchases for 9 months from the date of account opening, and then 20.24% to 29.99% (variable)
Foreign transaction fee 0%

My GM Rewards Card benefits and perks

  • Generous welcome offer: Earn 15,000 points after spending $1,000 in the first 3 months.
  • Rewards earning: Earn 7X points on GM purchases and 4X on all other eligible purchases.
  • $0 annual fee: Having a $0 annual fee makes it easier to profit from the rewards you might earn because there’s no annual cost to offset.
  • No foreign transaction fee: Although not a travel card, the My GM Rewards Card has no foreign transaction fees. This could be useful if you need a card to make foreign purchases.
  • My GM Rewards: Cardmembers automatically receive Gold Tier status (the second-highest membership tier) in the My GM Rewards program.
  • Fuel or electric vehicle statement credit: Activate this offer to receive a $100 statement credit once $1,500 is spent on eligible fuel purchases or six electric bill payments are made in a calendar year.
  • Vehicle detailing allowance: Receive a $50 allowance per calendar year for vehicle detailing when you use your card to pay for detailing at a participating GM dealer each calendar year.
  • GM redemptions: Redeem your points toward the purchase of a new or certified pre-owned GM vehicle, services, accessories, parts, select OnStar and GM Connected Services plans, and other eligible GM expenses.
  • Mastercard World Elite benefits: Cardholders receive unique benefits, including special offers with Fandango, Lyft, HelloFresh, ShopRunner, and DoorDash, as well as access to Mastercard concierge services. You also receive cell phone protection for coverage up to $800 per loss, with a $50 deductible.

Drawbacks to the My GM Rewards Card

  • Limited redemptions: You’re limited to redeeming your points toward GM-related expenses or on gift cards. The redemption value for using your points on gift cards is much lower than what you could receive for the other redemption options.
  • Limited potential for everyday use: The rewards rate is higher than average, but you likely wouldn’t want to use this card for everyday purchases because you might not have a reliable way to redeem your rewards. For cards with overall better everyday earning functionality, check out the best rewards credit cards.
  • Not a travel card: With no foreign transaction fees and some helpful travel benefits through Mastercard World Elite, the My GM Rewards Card might come off as a travel card, but it’s not. If you want to earn travel rewards and take advantage of helpful travel benefits, check out our page with the best travel credit cards.

Earning and redeeming cash back

Potential earnings in years one and two

Here's a look at how your points can add up with the My GM Rewards Card. To calculate these values, we used a point valuation of 1 cent per point.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $1,490.00

Year two earnings: $1,340.00

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which looks at points earned via spending, the sign-up bonus, and the annual fee.

Keep in mind that these earnings were calculated using the redemption rate available for putting points toward a certified pre-owned GM vehicle purchase, and this redemption option has a limit of 100,000 points per calendar year. If you redeem your points for gift cards, the point valuation is much lower.

Your earnings could also go up by $150 if you factor in the $100 fuel or electric vehicle statement credit and the $50 vehicle detailing allowance.

Best ways to earn

The best way to earn with most rewards cards is to make sure you’re using the card as much as possible for your everyday expenses. But if you’re not able to use your card for everything, at least use it in the card’s bonus categories (if applicable).

With the My GM Rewards Card, you can earn 7X points on GM purchases and 4X on all other eligible purchases. Because you have a 7X earning rate on many GM-related items, you would want to use your card whenever you visit a GM dealer and have to pay for parts or services.

Categories Rewards rate
GM purchases 7X
All other eligible purchases 4X

Maximizing your redemptions

If you compare credit cards, most rewards cards offer different redemption options. These are your available redemptions with the My GM Rewards Card:

  • Eligible new cars or certified pre-owned GM vehicles
  • Certified service, accessories, and parts
  • Select OnStar and GM Connected Services plans
  • GM Financial
  • GM Protection Plan
  • Gift cards

You typically receive a point valuation of 1 cent per point for GM-related purchases. For example, 100,000 points would get you $1,000 toward the purchase of an eligible certified pre-owned GM vehicle.

But for gift cards, you get a much lower point valuation of .0025 cents per point. This means you should stick to GM-related redemptions if you want to get the most value from your rewards.

My GM Rewards Card FAQs

What credit score is needed for a GM credit card?

You typically need a good or excellent credit score to qualify for a card such as the My GM Rewards Card. For FICO Scores, a type of credit score, good credit starts at 670 and excellent credit is 800 and above.

What can you do with your GM card earnings?

My GM Rewards points can be redeemed for eligible new or certified pre-owned GM vehicles, certified services and parts, select OnStar and GM Connected Services plans, and other GM services.

How do you redeem your GM card earnings?

You typically need to visit a GM dealership to redeem your My GM Rewards points. If you’re purchasing an eligible GM vehicle or having your car serviced, let the dealership know you’d like to redeem points toward the purchase. If you want to redeem points for gift cards, log into your account at MyGMRewards.com.

Other cards to consider

The My GM Rewards Card could make sense if you have lots of GM-related expenses, but it won’t be the right fit for everyone. For alternative options, consider the Citi Double Cash® Card and the Chase Freedom Unlimited®.

The Citi Double Cash offers 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. This is a lower rewards rate than the My GM Rewards Card, but you’re earning cash back compared with points. With cash back, you aren’t limited to mostly GM-related redemptions — you can use cash for just about anything, whether it’s groceries, travel, gas, or something else. You also get 0% intro APR on balance transfers for 18 months, and then 19.24% - 29.24% (Variable).

To learn more, check out our Citi Double Cash Card review.

The Chase Freedom Unlimited offers 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases. This isn’t necessarily a travel card, but your rewards can be redeemed for travel, especially if you pair it with a Chase Sapphire card. The Freedom Unlimited also offers 0% intro APR on balance transfers for 15 months, and then 20.49% - 29.24% Variable, as well as 0% intro APR on purchases for 15 months, and then 20.49% - 29.24% Variable.

To learn more, check out our Chase Freedom Unlimited review.

Valuable Earnings for GM Customers

My GM Rewards Card™
4.0

My GM Rewards Card™

Why We Like It

Earn 15,000 points after spending $1,000 in the first 3 months

See how these cards compare:

Citi Double Cash® Card
Citi Double Cash® Card
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
  • 0% intro APR on balance transfers for 18 months, then 19.24% - 29.24% (Variable) APR
  • No annual fee
  • Rates and fees
Chase Freedom Unlimited®
Chase Freedom Unlimited®
  • Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year)
  • Bonus rewards on eligible travel, dining, and drugstores
  • No annual fee
  • Intro APR on purchases and balance transfers

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is a Senior Credit Cards Writer at FinanceBuzz. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

Want to learn how to make an extra $200?

Get proven ways to earn extra cash from your phone, computer, & more with Extra.

You will receive emails from FinanceBuzz.com. Unsubscribe at any time. Privacy Policy

  • Vetted side hustles
  • Exclusive offers to save money daily
  • Expert tips to help manage and escape debt