GM credit card, anyone?

[janey99]

Hi all -

I'm wondering if anyone has a "GM Card" - the credit card that accrues dollars towards purchasing a GM vehicle as its rewards program. I've had one for many years, and since no GM car has ever rocked my boat, I've never redeemed any of the dollars - there are several thousand accrued!

In light of all the happening regarding GM, I wonder what will happen to these dollars?

I've been following the path of the "Cash for Clunkers" legislation, and my company offers a a cash incentive for buying a hybrid car.

In a perfect world, my GM dollars would still be valid, CforC would pass, and I could additionally use my company's perk to buy a Saturn hybrid SUV and probably save at least half the price with all these incentives combined!

Any other cardholders out there with an opinion on the current validity of the GM dollars and the advisability of cashing them in to get a GM car at this point?

Jane

 

[Catira]

I received a letter recently that they would give me up to a $2000 discount on a GM vehicle. I only had $35 and they were "giving" me $1965 for a total off $2000. Good luck...

 

[onyx8]

I have redeemed my GM points 2x so far for new GM cars - most recently in Feb 2009. There is a max amount of pts you can redeem based on the type of car you purchase. Also, the pts do expire. They do periodically send out offers to certain cardholders offering to "round up" their rewards, as the PP said.

 

[janey99]

I have redeemed my GM points 2x so far for new GM cars - most recently in Feb 2009. There is a max amount of pts you can redeem based on the type of car you purchase. Also, the pts do expire. They do periodically send out offers to certain cardholders offering to "round up" their rewards, as the PP said.

Did you bargain for your best deal, and then reveal at the end that were also going to use GM dollars? That is how I have heard you maximize their value.

If you don't mind me asking, which cars did you choose?

Thanks!

Jane

 

[jas_mom1]

DH and I have a GM Mastercard. We've redeemed the points three times. We bought a 2001 Blazer, 2004 Suburban and 2008 Silverado. The dealership has always known that we were going to redeem points. They didn't care. We always bargained for the best deal then the points were taken off that.

I just got a letter from GM today but I haven't opened it yet. I wonder what to do with the credit card. I've been using my Disney Visa more lately, even though no trip is planned.

Dianne

 

[JLKennedy]

In a perfect world, my GM dollars would still be valid, CforC would pass, and I could additionally use my company's perk to buy a Saturn hybrid SUV and probably save at least half the price with all these incentives combined!
Jane

Saturn is no longer a GM brand, it's now owned by Penske. So, I don't know what that would mean for your rewards, I know my warranty will be honored by Penske, since I have a new Saturn Aura, but other than that, who knows?

 

[mousefan1972]

My DH has a GM card, and he has about 3K in rewards dollars. He also got the "loyal customer" letter. Now he has his eye on a new Tahoe... His Trailblazer is a 2002 and has well over 125K miles on it, but I'm not sure if buying another GM vehicle is a good idea.

 

[onyx8]

Did you bargain for your best deal, and then reveal at the end that were also going to use GM dollars? That is how I have heard you maximize their value.

If you don't mind me asking, which cars did you choose?

Thanks!

Jane

Yes, I never told them I had a GM card with points til the deal was done. Just make sure it isn't in a prominant spot in your wallet when you open it to take out your ID, lol.

I got a 2006 Chevy Equinox in 2006 and a 2009 Pontiac G6 this past Feb.

 

[hookedup]

We do - we have used our redemption points 3 times in the past decade. We have the original card with no limits on the points or amounts allocated for brands. If you have had your card a long time you may have been grandfathered in on the older card (with better rewards limits).

We have stopped using our GM Card- we have enjoyed both cars we have bought (the other redemption was for a GM motorhome we got new) but since we bought a Pontiac Vibe, and then a new Saturn Vue a few months ago we are a bit bummed with GM right now. It kinda sucks to have 2 cars that are being discontinued!!! After we cleared out our points in September we switched over to a different card and since we are not very confident in GM right now I don't think we will renew it when it comes time to pay the annual fee.

 

[gshumaker]

Got a letter today from Government Motors saying "your GM Card earnings will continue to be honored in accordance with the program rules."

It came along with a Appreciation Certificate for $1000-$2750 depending on what 2009 car you purchase.

 

[silmarg]

GM card is one of the best. I have used it $5000 in rebates over 3 vehicles (1999 Yukon, 2001 Alero, 2003 Yukon XL) and have about $3000 in the hopper...

I have the grandfathered card (which is way better).

The fact that you can no longer combine a Supplier Discount with the GM Card is a shame.

I would love to buy the new Camaro or the CTS with my GM Card earnings. But will wait a year or two longer (since I work for a TARP recipient and who knows what compensation limits the govt will impose)