If you have a Buick, Cadillac, Chevrolet or GMC vehicle, or you know you're going to get one, the
GMC Credit Card definitely warrants consideration. But if your wheels are sporting another company’s logo or you’re even a bit unsure about what kind of car you’re going to get next, you’ll probably want to take a pass on My GM Rewards. After all, you’re likely to earn more rewards that are easier to use from other plastic.
GMC Credit Card Review HighlightsRewards are generous, but redemption is limited.You will earn
4 - 7 points per $1. That’s worth about $3,020 over the first 2 years to the average person.
However, the fact that you can only redeem your earnings toward the purchase or lease of a vehicle from a handful of brands – Buick, Cadillac, Chevy and GMC – will likely prevent you from enjoying the fruits of your spending for months or even years. Gold and Platinum members can also redeem for gift cards, but only up to $250 per year.
No annual fee is always nice.This makes the Goldman Sachs My GM Rewards Card
$22.29 cheaper than the average credit card offer, according to WalletHub’s latest
Credit Card Landscape Report. And it means you can save more of your money for a car.
0% intro rate can help you avoid interest.If you’re planning a big-ticket purchase (besides a car) that will take longer than a single billing period to pay off, the My GM Rewards Card from Goldman Sachs is a decent option, offering 0% interest on new purchases for the first
9 months. Just make sure to pay your balance in full before the regular rate takes effect, as it has the potential to be quite high.
It’s worth considering other options.The good or excellent credit needed to get the Goldman Sachs My GM Rewards Card may also help you qualify for some of the market’s best rewards credit cards. Many of them have the potential to be far more lucrative than the My GM Rewards Card, which is all that really matters. After all, the more you save now, the more affordable your vehicle will be. It doesn’t really matter whether your savings come from cash back or GM credit.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.