My GM Rewards Mastercard review 2024

If you plan to buy a GM vehicle or currently have a GM loan, it could pay to use the My GM Rewards® Mastercard® * The information for the My GM Rewards® Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . You’ll earn 7 points per $1 spent at GM and 4 points per $1 elsewhere, and you can redeem the points as credits toward your GM purchase or lease payments or for GM services, parts or subscriptions. 

But if you’re not doing business with GM, you should give this card a pass. Our My GM Rewards Mastercard review walks you through the ins and outs of this credit card. 

My GM Rewards Mastercard basics

• Annual fee: $0.
• Welcome bonus: 15,000 points after spending $1,000 on purchases in the first three months of account opening.
• Rewards: 7 points per $1 spent at GM and 4 points per $1 elsewhere.
• APR: 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases.
• Recommended credit score: Good to excellent.
• Does the card offer preapproval? Yes.
• Other benefits: $100 annual statement credit when you spend $1,500 on fuel purchases at eligible gas stations per calendar year or earn electric vehicle owners can earn a $100 statement credit when using the card to pay six months of electric bills, $50 annual vehicle detailing allowance when using the card at a participating GM dealer and World Elite Mastercard benefits. 

My GM Rewards Mastercard review

The My GM Rewards Mastercard offers several perks tailored to a specific group of people: anyone who’s paying off or planning to buy a GM, including a Chevrolet, Buick, GMC or Cadillac.

There are complex rules around earning and redeeming points for this card, so even if you plan to buy a GM soon, you’ll want to read the fine print and think through the math before applying for the card. 

For example, you can earn 7 points per $1 spent at GM and 4 points per $1 elsewhere, but you’re not likely to spend much in this category if you have a brand-new vehicle or if your car is still under warranty. Plus, if you want to buy a Certified Pre-Owned GM, you can only redeem $1,000 worth of points toward your purchase. 

Want to earn the $100 annual statement credit on this card? That’s a little complicated too. You’ll first need to verify and activate your account through mygmrewardscard.com. If you have a gas-powered car, you must spend at least $1,500 on fuel purchases at eligible gas stations per calendar year. If you drive an electric vehicle, you’ll have to pay your electric bill for six months within the calendar year before you’re eligible for the statement credit.

The My GM Rewards Mastercard comes with a welcome bonus, but it’s underwhelming. You’ll get 15,000 points after spending $1,000 on purchases in the first three months of account opening. That might sound generous, but at a value of $0.01 per point, that’s just $150 when redeemed. In other words, the welcome bonus shouldn’t be your motivation for getting this card. 

It is a better bonus than what you’d get with the Toyota Rewards Visa® Credit Card * The information for the Toyota Rewards Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. or the FordPass® Rewards Visa® Card * The information for the FordPass® Rewards Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. , but you can get a better welcome offer from many other rewards credit cards.

With that said, some people who own or plan to buy a GM can still enjoy some of the card’s features. On top of having no annual fee and no foreign transaction fees, you also get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases. Ensure you can pay off your credit card balance before the intro offer expires since the rate adjusts to the regular APR afterward. 

Pros

• Earn points for every purchase: Earn 7 points per $1 spent at GM and 4 points per $1 elsewhere.
• Introductory APR offer: You’ll get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases.
• Annual credits and allowances: Cardholders can cash in on up to $150 yearly in combined statement credits and allowances. 

Cons

• Small welcome bonus: The welcome bonus has a low redemption value of roughly $150.
• Limited options for redeeming rewards: There’s a long list of restrictions on how to redeem rewards, and they don’t have much value other than paying for GM vehicles and services.
• No balance transfer offer:The introductory APR offer does not apply to balance transfers — in fact, balance transfers are not allowed on this card.

My GM Rewards Mastercard rewards

It’s rare for a credit card to offer seven points in any spending category. But as a general rule of thumb, the higher the point multiplier the more restrictive the spending category usually is. 

In the case of the My GM Rewards Mastercard, you aren’t likely to earn big points unless you plan to make a major GM purchase or your GM vehicle is no longer under warranty and requires a lot of maintenance that you’ll have done at a dealership. 

Here’s how the points break down: 

• 7 points: Certified Service at authorized participating dealers, GM Genuine parts, AC Delco parts, GM accessories, SiriusXM subscriptions, GM Protection Plans and most OnStar Service plans.
• 4 points: Everyday spending, not including cash advances, ATM withdrawals, savings bond purchases, gambling, finance charges or fees.

The offer on SiriusXM isn’t a great deal for some GM owners, since new GMs come with a free SiriusXM trial that lasts anywhere from three months to three years. You can also get up to three months of free OnStar services with a new GM.

Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has around $25,087 in annual expenses that can be charged to a credit card. Here’s how our sample household’s rewards could break down during an average year of GM ownership when the vehicle is no longer under warranty:

SPENDING CATEGORY	SPENDING AMOUNT	POINTS PER DOLLAR	POINTS EARNED
Services and parts	$794.00	7	5,558
SiriusXM basic subscription	$168.00	7	1,176
OnStar basic plan	$360.00	7	2,520
Other	$23,765.00	4	95,060
TOTAL	$25,087.00		104,314

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Based on our calculations, a cardholder who pays the average, out-of-pocket costs for repairs and services on their GM vehicle could earn 104,314 points annually. But remember that points have varying value depending on how you redeem them. 

Here’s what one point is worth for each redemption option:

• $0.01: GM purchases, including new and certified pre-owned vehicles and GM Certified Services.
• $0.0025: Statement credit for non-GM purchases.

You can redeem your points by visiting a participating dealership and using them at the point of transaction, by using your card to make eligible purchases or by logging in to mygmrewardscard.com to redeem them for a statement credit, up to $250 per year. 

My GM Rewards Mastercard APR

Cardholders get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases, which is a shorter introductory period than many 0% APR credit cards offer. 

After the intro APR period, the rate adjusts to the regular APR, with the lowest rate available to applicants with the best credit. But even if you qualify for the starting rate, your APR will barely be lower than the average credit card APR, which the Federal Reserve reported was 21.59% in February 2024.

My GM Rewards Mastercard perks

This credit card comes with a few extra perks that vehicle owners can cash in on each year: 

• Annual statement credit: Earn a $100 credit by spending $1,500 on fuel per calendar year or, for GM electric vehicle owners, using your card to pay for six months of your electric bills within the calendar year.
• Vehicle Detailing Allowance: Get $50 each calendar year toward vehicle detailing at a participating GM dealer.

Cardholders also get World Elite Mastercard benefits, which include discounts on certain streaming, food delivery and ridesharing services and complimentary identity theft monitoring services. 

How the My GM Rewards Mastercard compares to other rewards cards 

When it comes to credit cards issued by car manufacturers, there aren’t many options to choose from. While earning points on a major purchase like a car might entice you, the rewards you get from these cards don’t come close to the value you could earn on non-car branded credit cards. 

If you want to earn points to help you pay off your car loan, you may want to consider getting a cash-back card and then using the rewards you earn to pay extra towards your car loan payments. Here are some alternatives to consider: 

My GM Rewards Mastercard vs. FordPass® Rewards Visa® Card * The information for the FordPass® Rewards Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

If you’re shopping for a new car but you’re not set on a GM, you might consider using a FordPass Rewards Visa Card. This card has many features in common with the My GM Rewards Mastercard. 

For example, for no annual fee you earn up to 10 points per dollar on spending, with the highest rewards for Ford dealership purchases and services. The Ford card offers 11,000 FordPass Rewards Points the first purchase, and $100 statement credit after spending $3,000 in the first three billing cycles. Plus, you’ll get a $200 annual statement credit each year when you spend $6,000 on the card.

However, just like the My GM Rewards Mastercard, it doesn’t compete with other rewards cards. For example, the FordPass Rewards card has a high APR range even when compared to the GM card, and points can’t be redeemed for non-Ford purchases. 

My GM Rewards Mastercard vs. Toyota Rewards Visa® Credit Card * The information for the Toyota Rewards Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Toyota is another auto manufacturer that offers its own rewards credit card. The Toyota Rewards Visa offers 5 points per $1 spent at participating Toyota Dealerships, 2 points per $1 spent on gas, dining and entertainment and 1 point per $1 spent everywhere else Visa is accepted. Plus, you can earn 5,000 points after spending $500 on purchases outside of Toyota Dealerships in the first 90 days of account opening.

One area where this card stands out from the My GM Rewards Mastercard is redemption options for points. In addition to using them for Toyota purchases, you can redeem points for statement credits or gift cards, and they have a value of $0.01 when redeemed for statement credits versus the $0.0025 you get for GM points.

My GM Rewards Mastercard vs. Citi Custom Cash® Card

We don’t recommend using a credit card to buy a car, but it can pay to use an introductory APR rewards card for big purchases like vehicle repairs and servicing. The Citi Custom Cash® Card, for example, gives you a 0% intro APR for the first 15 months on purchases and from the date of the first transfer for balance transfers within the first four months. After that, the variable APR will be 19.24% to 29.24%. There is a balance transfer fee of 5% of each balance transfer with a $5 minimum. Plus, you can get $200 cash back, in the form of 20,000 ThankYou® points, after spending $1,500 on purchases in the first six months of account opening. This is a bigger welcome offer than what you get with the My GM Rewards Mastercard. 

You’ll earn cash back on every purchase. The Citi Custom Cash earns 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 spent each month and 1% cash back on all other purchases. Plus, an additional 4% cash back on hotels, car rentals, and attractions booked on the Citi Travel℠ portal through 6/30/25. You can redeem your rewards for a statement credit, as well as gift cards, travel and more. 

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Citi Custom Cash® Card

BLUEPRINT RATING

Our ratings are based on specific use cases for each card. We compared this card to others in the same category and developed our rankings based on this criteria, along with our editorial input. Note that although we chose this card as the best in its category, the right card for you will depend on your own financial circumstances.

Rates & fees / Terms apply

Rates & fees / Terms apply

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BLUEPRINT RATING

Our ratings are based on specific use cases for each card. We compared this card to others in the same category and developed our rankings based on this criteria, along with our editorial input. Note that although we chose this card as the best in its category, the right card for you will depend on your own financial circumstances.

Welcome bonus

Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back.

$200 cash back

Annual fee

$0

Regular APR

19.24% – 29.24% (Variable)

Credit score

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Fair, Good, Excellent

5% cash back on up to $500 in purchases in your top eligible spend category each billing cycle. All other purchases will earn 1% cash back. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.

Editor’s Take

Pros

• No annual fees.
• Easy-to-redeem cash-back rewards.
• Introductory APR period.

Cons

• Charges foreign transaction fees.
• There’s a balance transfer fee.
• Limited cash-back reward categories.

The Citi Custom Cash Card is an ideal choice for those who spend a lot in at least one or more of the bonus spending categories offered on the card, which includes restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment.

Card details

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
• 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
• Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.
• No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
• No Annual Fee
• Citi will only issue one Citi Custom Cash® Card account per person.

My GM Rewards Mastercard is right for you if:

• You currently have GM financing on your vehicle. 
• You plan to buy or service your GM at an authorized GM dealership.
• You can pay off your credit card balance before the intro APR expires.

Frequently asked questions (FAQs)