[don129]

I just noticed that there's a new GM Card available.... Unlimited earnings & Unlimited redemption amounts. 5% Earnings on your first $5,000 in purchases every year, unlimited 2% Earnings on purchases after that. Earnings don't expire & no annual fee.

I sill have the old GM card limited to $500 earnings per year for 7 years ($3500 total) with no redemption limits. But this new card looks better in some ways.

What do you think??

https://www.gmcard.com/

 

[VQ35DE]

I did not switch. You can only carry over a max of $500 of your earnings.

 

[fincherific]

So, you can earn $250 a year in rewards at the 5% rate, which will take 4 years to hit 1k, which is typically the redemption limit on most of the cars that are eligible. And you can earn more than that at the 2%. Your "old" card sounds good in that there are no redemption limits. I have one that earns 5% on everything, no earning limit, no annual fee, but I have to follow the redemption limits. So I can get rewards fast but then they sit there as I'm not ready to buy a new car so I use other cards for their rewards instead. I think if you are one that gets a new car more often (every 4 years) the newer one sounds better, but if you're like me and try to wait closer to 9-10 years the old one is a better deal. Of course all this is assuming you pay the balance in full every month, because we're not even talking interest rates, if we were I'd suggest looking at Credit Union's CCDs, they have lower rates, but typically lower earnings. I've been in banking almost 14 years.

 

[2074]

I just noticed that there's a new GM Card available.... Unlimited earnings & Unlimited redemption amounts. 5% Earnings on your first $5,000 in purchases every year, unlimited 2% Earnings on purchases after that. Earnings don't expire & no annual fee.

I sill have the old GM card limited to $500 earnings per year for 7 years ($3500 total) with no redemption limits. But this new card looks better in some ways.

What do you think??

https://www.gmcard.com/

I have the old one too. I'm not switching because unless you spend huge amounts of money it won't pay. I have a ton of other cards and play the 5% quarterly bonus category cash back (real cash $$$ whenever I want to cash it in) deals. Keep a cheat sheet for what card to use for what purchase each quarter. I only use the GM card for stuff that isn't 5% cash on other cards and max out the $500 earnings every year with about a month to go before the anniversary date so the way I do it works out for me!