Latest news with #GMRewards
Entrepreneur
7 days ago
- Automotive
- Entrepreneur
GM Rewards Mastercard undergoes major improvements
The GM Rewards Mastercard has undergone a significant update, bringing substantial improvements to cardholders. The revamped credit card now features enhanced benefits, most notably a valuable welcome offer and increased... This story originally appeared on Due The GM Rewards Mastercard has undergone a significant update, bringing substantial improvements to cardholders. The revamped credit card now features enhanced benefits, most notably a valuable welcome offer and increased rewards rates, making it more competitive in the credit card market. According to recent information, the new GM Rewards Mastercard offers better value on most fronts compared to its predecessor. This update marks a significant shift in the card's overall proposition to consumers, particularly for those loyal to GM vehicle brands. Enhanced Rewards Structure The updated GM Rewards Mastercard now provides higher rewards rates for cardholders. This improvement allows users to earn more points on their everyday purchases, making the card more lucrative for regular spending. The increased earning potential stands out as one of the primary enhancements in this card revision. While specific details about the exact reward rates weren't provided, the changes appear to position the card more favorably against competing automotive credit cards in the market. For GM customers and enthusiasts, these higher rates could translate to faster accumulation of rewards that can be applied toward vehicle purchases or services. Attractive Welcome Bonus Another major improvement to the GM Rewards Mastercard is the introduction of a 'valuable welcome offer.' New cardholders can now expect a more generous incentive when signing up for the card, adding immediate value to new applicants. Welcome bonuses have become a standard competitive feature in the credit card industry, and GM's decision to enhance this aspect suggests an effort to attract new customers while providing additional value. This initial bonus could help offset costs for GM customers planning vehicle maintenance or looking to accumulate points toward their next vehicle purchase. Comparison to Previous Version The revisions to the GM Rewards Mastercard represent a clear upgrade from its previous iteration. While most changes appear positive, the statement that it's better 'on most counts' suggests there may be some aspects where the card hasn't improved or potentially even taken a step back. Credit card revisions typically involve trade-offs, and consumers should review the complete terms and conditions to understand any potential downsides, such as changes to annual fees, interest rates, or redemption options that might not have been enhanced. For existing cardholders, these changes are likely to result in improved value from their card relationship, although they may need to activate or opt into certain new features to maximize the benefits. Market Position The timing of this card update coincides with many credit card issuers enhancing their offerings to retain customers in an increasingly competitive market. Automotive-branded credit cards face competition not only from other car manufacturers but also from general travel and cashback cards that offer flexible redemption options. By improving the GM Rewards Mastercard, GM and its banking partner appear to be strengthening their position in the co-branded credit card space, particularly appealing to consumers who are loyal to Chevrolet, Buick, GMC, or Cadillac vehicles. The enhanced card now offers more compelling reasons for GM customers to choose this financing option over general-purpose credit cards, potentially increasing brand loyalty and future vehicle sales for the automotive giant. As credit card rewards programs continue to evolve, these improvements to the GM Rewards Mastercard reflect broader industry trends toward offering more value to consumers, especially in categories aligned with their spending habits and brand preferences. The post GM Rewards Mastercard undergoes major improvements appeared first on Due.
USA Today
22-05-2025
- Automotive
- USA Today
General Motors revamps credit card, changes GM Rewards program to add discounts
General Motors revamps credit card, changes GM Rewards program to add discounts Show Caption Hide Caption General Motors: History, innovation, and legacy Learn about the rich history and notable innovations of General Motors, from its founding in 1908 to its leadership in electric and autonomous vehicle technology. There are over 13 million GM Rewards members. GM has had a branded credit card since 1992. The new credit card will include chances to earn toward member-exclusive experiences – such as trackside access at racing events and off-the-grid EV excursions. Taking cues from the travel industry, General Motors plans to relaunch its credit card under a new lender and change how points can be accrued and used on automotive purchases. The new card provides customers more ways to earn and redeem GM Rewards points on new vehicles, services, parts and accessories, according to the company. And starting May 20, GM employees, retirees, dealership employees and suppliers eligible for vehicle discounts will be able to use GM Rewards points on top of that discount. The card allows customers to earn up to 10 times the points on eligible GM purchases, broken down by seven times the points for every $1 spent when using the GM Rewards Mastercard, plus up to three times the points for being a GM Rewards member. All other purchases qualify for three times the points, which GM said can also be redeemed on GM Financial account balances. The automaker has more than 13 million GM Rewards members, the company said. GM has had a branded credit card since 1992. Cash back promotions: Are rewards credit cards worth it with surcharges, transaction fees? We explain. Changing rewards, adding ways to earn Members of the company rewards program on average purchase vehicles with 5% higher manufacturer-suggested retail prices than nonmembers, visit GM dealerships twice as often as nonmembers and typically repurchase GM vehicles almost three years sooner than a nonmember, according to Ralph Darmo, head of GM Rewards. 'The value of those members is why GM has made the decision to invest in those members,' Darmo said. 'We're making the program better.' Prior to joining GM, Darmo managed the Delta SkyMiles credit card and then managed the GM credit card when it was branded with Goldman Sachs. One of the main changes is simplifying the program, streamlining the various separate branded rewards to one, Darmo said. Instead of Cadillac Rewards, Chevy Rewards, Buick Rewards, GMC Rewards and My Rewards, starting May 20, all of that will be lumped into My Rewards. Details of changes to GM rewards The goal is to improve the experience for dealerships as well as customers, Darmo said, because of the confusion over whether or not a GMC Rewards member could apply points on a Buick purchase, for example. 'You will get more points when you buy GM under the new program. We're also removing some of the restrictions — there won't be earn caps, there's no redemption caps, there's no exclusion on vehicles anymore, and the points are universal — the points can be used across all GM brands for a new GM vehicle or a certified pre-owned vehicle,' he said. In addition, Darmo said GM rewards points can be shared not just with another member at your address; points can be transferred to any other GM Rewards member regardless of where they live. The GM Rewards loyalty program now works through GM Rewards Mastercard, serviced by Barclays US Consumer Bank. The Delaware-based bank has a broad portfolio of co-branded credit cards including JetBlue, Old Navy, Gap, Frontier Airlines and Carnival Cruise Lines. In addition to purchases at GM dealerships, the credit card also allows customers to gain and redeem points on digital services like most OnStar plans and Super Cruise, the hands-free driver assistance technology. Eventually, GM hopes to ensure the points can be used on electric-vehicle charging costs. Existing cardmembers should use them until Aug. 25, GM said, and can expect their new, replacement Barclays cards later this summer, along with activation instructions. Darmo also added that the card includes member-exclusive experiences — such as trackside access at racing events and off-the-grid EV excursions. Later this year, GM and Barclays plan to launch the GM Business Mastercard, specifically for business customers, with a higher earn rate on GM purchases and expanded redemption options. Jackie Charniga covers General Motors for the Free Press. Reach her at jcharniga@
Yahoo
20-05-2025
- Automotive
- Yahoo
General Motors revamps credit card, changes GM Rewards program to add discounts
Taking cues from the travel industry, General Motors plans to relaunch its credit card under a new lender and change how points can be accrued and used on automotive purchases. The new card provides customers more ways to earn and redeem GM Rewards points on new vehicles, services, parts and accessories, according to the company. And starting May 20, GM employees, retirees, dealership employees and suppliers eligible for vehicle discounts will be able to use GM Rewards points on top of that discount. The card allows customers to earn up to 10 times the points on eligible GM purchases, broken down by seven times the points for every $1 spent when using the GM Rewards Mastercard, plus up to three times the points for being a GM Rewards member. All other purchases qualify for three times the points, which GM said can also be redeemed on GM Financial account balances. The automaker has more than 13 million GM Rewards members, the company said. GM has had a branded credit card since 1992. Members of the company rewards program on average purchase vehicles with 5% higher manufacturer-suggested retail prices than non-members, visit GM dealerships twice as often as non-members and typically repurchase GM vehicles almost three years sooner than a non-member, according to Ralph Darmo, head of GM Rewards. 'The value of those members is why GM has made the decision to invest in those members,' Darmo said. 'We're making the program better.' Prior to joining GM, Darmo managed the Delta SkyMiles credit card and then managed the GM credit card when it was branded with Goldman Sachs. One of the main changes is simplifying the program, streamlining the various separate branded rewards to one, Darmo said. Instead of Cadillac Rewards, Chevy Rewards, Buick Rewards, GMC Rewards and My Rewards, starting May 20, all of that will be lumped into My Rewards. The goal is to improve the experience for dealerships as well as customers, Darmo said, because of the confusion over whether or not a GMC Rewards member could apply points on a Buick purchase, for example. 'You will get more points when you buy GM under the new program. We're also removing some of the restrictions — there won't be earn caps, there's no redemption caps, there's no exclusion on vehicles anymore, and the points are universal — the points can be used across all GM brands for a new GM vehicle or a certified pre-owned vehicle,' he said. In addition, Darmo said GM rewards points can be shared not just with another member at your address; points can be transferred to any other GM Rewards member regardless of where they live. The GM Rewards loyalty program now works through GM Rewards Mastercard, serviced by Barclays US Consumer Bank. The Delaware-based bank has a broad portfolio of co-branded credit cards including JetBlue, Old Navy, Gap, Frontier Airlines and Carnival Cruise Lines. In addition to purchases at GM dealerships, the credit card also allows customers to gain and redeem points on digital services like most OnStar plans and Super Cruise, the hands-free driver assistance technology. Eventually, GM hopes to ensure the points can be used on electric-vehicle charging costs. Existing cardmembers should use them until Aug. 25, GM said, and can expect their new, replacement Barclays cards later this summer, along with activation instructions. Darmo also added that the card includes member-exclusive experiences — such as trackside access at racing events and off-the-grid EV excursions. Later this year, GM and Barclays plan to launch the GM Business Mastercard, specifically for business customers, with a higher earn rate on GM purchases and expanded redemption options. Jackie Charniga covers General Motors for the Free Press. Reach her at jcharniga@ This article originally appeared on Detroit Free Press: GM revamps credit card, adds ways to earn with My Rewards
