GM Credit Card

The GM credit card is a MasterCard.  You will discover this card is very interesting for its rewards and its introductory rates.  We will explore what this card has to offer you to determine if it is something to be interested in.   Many cards offer rewards, but they are sometimes very similar to other cards that it makes it difficult to know what is really good and what is not.

The first thing we have noticed about the GM credit card is the balance transfer introductory deal.  The Balance transfer deal is zero percent interest for five months.  After the five month period is over you will be charged 14.9 percent annual percentage rate.  The annual percentage rate is 2 percent lower than the standard rate on most cards offering an introductory deal.  The difference in this portion of the benefits is the length of the introductory deal.  You only have five months from the beginning of the account being opened with zero percent interest.  This is one of the shortest balance transfer deals.  They are normally 12 month deals.  It would work if you can pay off the card in those five months without being charged the interest, but if you have a higher balance you may not be any further ahead in the end.  This card really isn’t about balance transfers, which is one of the reasons it may have such a short term deal.

Next, you do gain a little something special in the purchase deal.  Most cards have introductory purchase deals; however these deals are usually zero percent for three months.  There are a few that match the balance transfer deal of 12 months, but those are rare.  The GM credit card offers zero percent interest on purchases for five months.  This is the same length of time that is offered for the balance transfer deal.

The GM credit card has another key difference that could make this card the best for you.  If you are interested in GM vehicles such as the Vauxhalls or the Saabs, this card can help you get a discount on the overall card purchase.  It is a reward programme that allows you to accumulate points for the amount of money you spend.  You can get at least 2500 pounds off of a new card that is in a certain line of cars that GM produces.  The points are earned by 3 percent of whatever you spend.  You can also earn a rebate point per pound that you spend towards certain cars.  When you spend 100 pounds in the first month of using your card, all at once, you will earn 100 free rebate points towards the car.

This deal may sound great, and for some it will really work.  It works great for the person that can use the card and pay off the balance every month to avoid the interest rate charges.  However, if you accrue interest you are not saving money, but spending money you could use towards the purchase of that car.

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