| Last updated on February 2nd, 2024
In-Depth Review: My GM Rewards® Mastercard®
The My GM Rewards Mastercard is an auto rewards credit card from Goldman Sachs and General Motors. The card makes saving up for your next vehicle a breeze, thanks to 7X total points on GM purchases, 0% intro APR for 9 months on purchases, and more – all for no annual fee.
0% Intro APR on Purchases
Rewards cards that feature introductory 0% APR periods on purchases is not uncommon – in fact, it is a great way for card issuers to entice new accounts to spend quickly on their new card and achieve lofty spending goals. Few auto rewards cards come with any promotional APR, however, with the exception of special financing on parts and servicing.
The My GM Rewards Mastercard is different in that it provides a nine-month, 0% introductory annual percentage rate on purchases. Once that initial period finishes, the APR returns to its standard rate (which you can see above). Nevertheless, it is still very competitive when compared to other similarly positioned rewards cards.
Earn Up to 7X Total Points on Purchases
The My GM Rewards Mastercard is an auto rewards card, so it earns its most significant rewards on eligible purchases at GM. Cardholders earn up to 7X total points on GM purchases, including service, parts, and accessories purchased at participating My GM Rewards Mastercard dealerships or online.
The card also earns 4X points for every dollar spent on the My GM Rewards Mastercard on eligible purchases outside of GM. That earning rate is exceptional – but only for those that plan to really make use of their card and spend towards the ultimate prize – a new GM vehicle. There’s no limit to how much a cardmember can earn and redeem toward an eligible, new GM vehicle.
Introductory Points Offer
New cardholders can earn 15,000 bonus points after spending $1,000 on the My GM Rewards Mastercard in their first 3 months. Judging value with auto rewards credit cards is difficult, given the extremely expensive award option many consumers select (a new card). Still, 10,000 points provide roughly the equivalent of 10% cash back, so it offers some solid value.
How to Redeem Points in the My GM Rewards Program
Redeeming points with My GM Rewards is straightforward. Cardholders can redeem points toward an eligible, new GM vehicle purchase or lease. Cardholders also have the option of selecting a pre-owned GM vehicle, with the ability to redeem up to $1,000 toward the purchase of a Chevrolet, Buick, GMC, or Cadillac Certified Pre-Owned vehicle.
Other redemption options include points towards paid GM Certified Service, GM Genuine Parts and ACDelco Parts, eligible accessories, OnStar and Connected Services plans, GM Financial and Protection Plans, and SiriusXM®. Gold and Platinum rewards members can also redeem points towards gift cards from various eligible merchants, stores, restaurants, and more, at a 1% redemption rate.
The biggest GM perk of the My GM Rewards Mastercard is the granting of automatic Gold Tier status in GM’s loyalty program. Gold tier is the middle tier of the My GM Rewards program and offers a quality selection of benefits:
| How to Unlock a New Tier | Silver | Gold | Platinum |
|---|---|---|---|
| 3-year total spend on a new, eligible GM vehicle | $0 to $44,999 | $45,000 to $109,999 | $110,000+ |
| Combined spend on paid, eligible GM service, eligible accessories or parts, and OnStar and Connected Service Plans | $0 to $1,499 | $1,500 to $2,499 | $2,500+ |
| Yearly spend on My GM Rewards Mastercard | N/A | Automatic Gold Tier | $15,000+ |
| Points expiration | Account is Closed; 5 Years of Inactivity | Never Expire | Never Expire |
Annual Bonuses
Cardholders can earn a $100 statement credit each calendar year after spending $1,500 on fuel. Or, as an alternative if you have an electric vehicle, you can instead choose a $100 statement credit when you use the My GM Rewards Mastercard to pay 6 electrical bills in a calendar year.
Cardholders also get a $50 allowance when using their My GM Rewards Mastercard for vehicle detailing at a participating GM dealer every calendar year.
Choose Your Own Card Design
Applicants have their choice of five unique card designs to help showcase their love for their favorite GM brands:
Other Card Features
The My GM Rewards Mastercard also benefits from Mastercard World Elite benefits. Mastercard World Elite® is the premier Mastercard product, offering the pinnacle of protections and perks, including:
| Zero Liability Protection | Airport Concierge | Cell Phone Protection |
| Mastercard Global Services | Priceless Experiences | Lyft Credits |
| ID Theft Protection | Priceless Golf | Mastercard Travel Services |
| Mastercard Hotel Stay Guarantee | ShopRunner Membership |
Other notable features of the card include no annual fee and no foreign transaction fees – both excellent benefits.
Auto Rewards Card Comparisons
Not sure if the My GM Rewards Mastercard is right for you? Here’s how it compares to two competitors:
| My GM Rewards® Mastercard® | DrivePlus Mastercard® | Toyota Rewards Visa® | |
|---|---|---|---|
| Rewards | Earn up to 7X points on GM purchases, including service, parts, and accessories at participating dealerships, and 4X points on eligible purchases outside of GM | Earn 5% back on FCA US purchases, 2% back on gas and travel purchases, and 1% back on all other purchases | Earn 3X points at Toyota dealerships, 2X on gas, dining, and entertainment, and 1X on all other purchases |
| Welcome bonus | 15,000 points and 0% intro APR offer | $100 back after spending $1,000 in first 90 days | N/A |
FAQs About GM and Goldman Sachs
- Goldman Sachs purchases the GM credit card portfolio from Capital One in a deal worth over $2 billion.
- No. There is no limit on the total number of rewards a My GM Rewards member can redeem.
- No. GM points never expire as long as the credit cardholder’s account is open and active. Non-GM credit cardholders points may expire, depending on their loyalty sttaus.
- Managing your My GM Rewards account is easy. You can manage your GM Financial Account through the GM Financial App or online by going to www.gmfinancial.com and signing in to My Account. There, you can make a payment, access billing statements, update your profile and communication preferences, and even message with our Customer Experience agents.
- Marcus can pull from any of the three major credit bureaus (Experian, Equifax, and TransUnion), but most datapoints point to TransUnion being the most commonly used scoring model.
Card Availability
The My GM Rewards Mastercard is available in all 50 U.S. states and the District of Columbia.
Goldman Sachs Ratings
How does the My GM Rewards Mastercard stack up? Here are a selection of expert reviews for the card and Marcus by Goldman Sachs – the card’s issuer:
| BestCards | Better Business Bureau | TrustPilot |
|
4/5 |
2/5 |
2.5/5 |
Should You Apply for the My GM Rewards® Mastercard®?
While the 7X total points will turn heads, is the My GM Rewards Mastercard worth the hype? If you are a loyal GM customer, the answer may be a strong yes. GM customers can benefit from the card’s high rewards-earning rate and GM-focused redemption options. Still, non-GM fanatics (or even those merely considering a GMC, Chevy, Buick, or other GM brand vehicle) might find the card to be thin on promise.
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