My GM Rewards^® Mastercard^® Review [2024]: Only Consider it if you Love GM Vehicles

Card basics

The My GM Rewards^® Mastercard^® has $0 annual fee and helps you earn 15,000 points after spending $1,000 in the first 3 months. This is fairly easy for most people to achieve just with grocery shopping and dining out.

The My GM Rewards® Mastercard offers 7X points on GM purchases and 4X on all other eligible purchases. It also has 0% intro APR on purchases for 9 months from the date of account opening, and then 20.24% to 29.99% (variable).

Who should get the My GM Rewards Card?

The name says it all; if you aren’t a GM owner or about to become one, you won’t get much from the My GM Rewards® card.

Here’s why.

Each point earned is worth one cent only if you redeem them for points toward a GM purchase, such as a new or pre-owned GM vehicle, GM certified service, GM Genuine parts, certain warranties, and SiriusXM® plans.

The only non-GM-related option is a statement credit, but it drops your redemption value from $0.01 to $0.0025 per point, which is hardly worth it. You can also only redeem up to 100,000 points ($250) in statement credits annually.

So, it makes sense to only have this card if you are loyal to GM vehicles.

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: Includes an offer to receive a $100 statement credit once you spend $1,500 on eligible fuel purchases or six electric bill payments 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, Instacart, ShopRunner, and Peacock, as well as access to Mastercard concierge services.

Potential earnings and how to maximize them

I think it’s helpful to project your earnings for the first couple of years of opening any rewards credit card, to determine if it’s worth it. In the case of the My GM Rewards® credit card, there’s no annual fee, but there are other rewards credit cards that will pay you much better than what you could earn with this card.

Potential earnings in years one and two

To determine the first two years of earnings on the My GM Rewards® Mastercard, I used the FinanceBuzz Credit Card Rewards Valuation Model to determine the estimated annual household spend and what you could expect to earn on this card.

Year one: $1,800

Year two: $1,650

Best ways to earn

The nice thing about the My GM Rewards® Mastercard is its simplicity. I like that you don’t have to worry about tracking rotating categories, or wondering what point value you’ll get for your purchases. With this card it’s either 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.

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
• SiriusXM®
• Statement credit

Your best bet to maximize your redemption is to use your points toward the purchase or lease of a GM vehicle or toward GM-related services. The only time I’d suggest using points as a statement credit is if you have points leftover after a large purchase. You can use up to 100,000 points for a $250 statement credit annually.

My GM Rewards Card FAQ

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, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. 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 18.49% - 28.49% (Variable).

The Chase Freedom Unlimited offers 6.5% cash back on travel purchased through Chase Travel℠, 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, earn 5% cash back on travel purchased through Chase Travel℠, 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 19.99% - 28.74% Variable, as well as 0% intro APR on purchases for 15 months, and then 19.99% - 28.74% Variable.

Valuable Earnings for GM Customers

My GM Rewards^® Mastercard^®

4.0

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

My GM Rewards^® Mastercard^®

4.0

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

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

• Simple flat-rate cash back on all your purchases
• 0% intro APR on balance transfers for 18 months, then 18.49% - 28.49% (Variable) APR
• No annual fee
• Rates and fees

Chase Freedom Unlimited®

• High base rewards rate of 1.5%
• $0 annual fee
• Valuable welcome bonus for new cardholders
• Intro APR offers for purchases and balance transfers

Bottom line

I wouldn’t suggest the My GM Rewards® Mastercard® unless you are a loyal GM car owner and use GM facilities often. Since most people don’t buy cars too frequently, and the dealership can be expensive for normal repairs, most people won’t get the full value from this credit card.

However, if you buy GM cars frequently, or prefer to purchase parts directly from GM, you can earn healthy rewards to use toward your purchases. If not, I’d consider a no annual fee rewards card that doesn’t require loyalty to a specific car brand.

Valuable Earnings for GM Customers

My GM Rewards^® Mastercard^®

4.0

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

My GM Rewards^® Mastercard^®

Compare Credit Cards

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

Benefits

• Rewards GM-related purchases
• $0 annual fee
• Points never expire as long as your account remains open

Drawbacks

• The redemption value is weak if you don’t use them for a new GM vehicle or GM parts
• Statement credit redemptions drop the points value by 75%

Card Details

• Earn 15,000 points after spending $1,000 in the first 3 months
• 7X points on GM purchases and 4X on all other eligible purchases
• Intro purchase 0% APR offer: 0% for 9 months then 20.24% to 29.99% (variable)