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Forum Thread
My GM Rewards Card™: Get 15K Points After Spending $1K in First 3 Months
Get 15,000 bonus points after you spend $1,000 in your first three months with the My GM Rewards Card™. Also earn unlimited 7x total points with GM, 4x points on purchases everywhere else. No annual fee*.
Card Details:
Goldman Sachs has an ownership interest in Slickdeals. Slickdeals' relationship with Goldman Sachs does not affect the presentation or availability of offers.
Card Details:
- The only U.S. co-branded card that offers unlimited 4x points on all purchases and no annual fee.*
- Get 15,000 bonus points after you spend $1,000 in your first three months.*
- Earn unlimited 7x total points with GM.*
- Redeem towards a new GM vehicle purchase or lease with no limit. For example, spending $12K per year on everyday purchases will earn you 48,000 pts/$480 toward future redemption with GM
- 0% intro APR on purchases for the first 12 months, then a variable APR of 19.49% to 29.49%.*
- No annual fee, no foreign transaction fees, or cash advance fees. Late fees may apply.*
- See if you're approved with no impact to your Credit Score. Accepting a card after your application is approved will result in a hard inquiry, which may impact your credit score.
- Terms & Limitations Apply. Click here to see *Rates and Terms and Benefit Terms. Subject to credit approval.
Goldman Sachs has an ownership interest in Slickdeals. Slickdeals' relationship with Goldman Sachs does not affect the presentation or availability of offers.
Created 04-05-2022
at 11:06 AM
by sd_keets
in
Credit Cards
(2)
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3 Comments
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If used for things like gift cards to restaurants or other stores the points are only worth 0.25 cents.
Meaning your 10k signup bonus is only worth $25.
Even if used toward a GM vehicle 10k points is only worth... $100.
Likewise the 4x points on spend is, if redeeming for non-GM rewards, only 1% cash back equivalent which is terrible.
So for most it's a pretty garbage signup bonus to waste a hard pull and a 5/24 slot on compared to... almost anything else.
Does it? I mean you can get 5% or better cash back on most categories of spend with other cards (though it does mean owning more than 1 card, and in some cases having things like BoA status) which seems to beat this ones "4% rewards ONLY FOR NEW GM CARS, 1% otherwise) rewards.
I guess if you specifically want a new GM vehicle for sure (not just are open to it) and use this card for anything you can't fit into a category, AND you never travel (because you can usually get yourself at least 4% usable for travel from other cards) then the 4% is marginally better than the 2-3% cash back you can get from other cards on non-category.....
Though even then there's an argument to be made that 2-3% NOW is better than 4% you won't be able to redeem for years of likely high inflation and only if you don't change your mind about what brand of car to buy years from now....
The only other decent use case I can see is for a business that maintains a fleet of GM vehicles AND does all their paid service at GM dealers (though that's kinda dumb in other ways since dealer service is heavily overpriced) since you'd be earning 7x on that spend that you could redeem toward future service visits.