All of these funds are pooled together and can be used toward GM vehicle purchases, upgrades, services and more. The simplicity of this card is fantastic since you don't have to think about bonus categories. If you hit the $5,000 cap, you'll start earning 2% back with no limits. Obviously, the biggest draw here is the 5% earnings on up to $5,000 in purchases annually, for any purchases where this Mastercard is accepted. Of course, we don't recommend spending beyond your means, and as always, use your card responsibly. However, the 0% APR offer does give you the opportunity to make major purchases and pay them off within a year of account opening without accruing any interest charges. The card details on this page have not been reviewed or provided by the card issuer. The information for the Chase Freedom has been collected independently by The Points Guy. Unfortunately, unlike some cash-back earning cards such as the Chase Freedom (No longer open to new applicants) - which offers $200 back after you spend $500 in the first three months - the BuyPower Card has no such welcome offer. After that, your variable APR will be between 15.24% to 24.24%. The GM BuyPower Card offers an introductory 0% APR for 12 months after opening an account. A 5% return is impressive (even if it is capped), no matter how you slice it, but just know that you're locked into the GM ecosystem. By spending on this card, you'll be foregoing any other cash-back cards or rewards cards that may offer more in the way of perks and benefits. (Photo courtesy of General Motors)įor current GM car owners, your rewards can be used toward services, parts, and labor to minimize maintenance costs on your vehicle from everyday wear-and-tear.Īt the end of the day, this card is for those who prioritize their means of transportation above all else. GM offers this handy earning calculator on its website. An imminent car purchase may not be in your sights given the current environment, but the BuyPower card is more of a long-term play, since the earnings from the card can be accumulated over time to discount the price of a vehicle. With the coronavirus pandemic, many individuals are prioritizing essential purchases instead of splurges on things like vacations and entertainment. If you're reading this review, you're likely either a current General Motors car owner or lessee, or have your sights set on owning or leasing a GM vehicle in the coming years. The BuyPower Card from Capital One is a card for GM car enthusiasts. While there are a handful of now-defunct General Motors car brands, the current ones include Chevrolet, Buick, GMC and Cadillac. The information for the BuyPower Card from Capital One has been collected independently by The Points Guy. While there are other cash-back cards that are a better fit for most people, let's take a deeper dive into the GM BuyPower Card to see if it could align with your goals. It's certainly a niche product, but if you plan to shop for a new car in the years to come or identify as an existing GM car owner who wants to reduce maintenance costs, this could be a card to consider.
The BuyPower Card from General Motors is one such card. New to The Points Guy? Want to learn more about credit card points and miles? Sign up for our daily newsletter. The Points Guy will not share or sell your email. I would like to subscribe to The Points Guy newsletters and special email promotions.
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