GM Card

[jimxo]

I'm not sure where to post this so I will start here.

I was thinking about getting the GM credit card to start working my way to that C6, however I understand there a lot of changes going on with the card.

My mother in law worked for GM and I can use the GMS(?) discount, but I think using the GMS and the GM card points are not available? Plus will I really be able to get a C6 at some point with the GMS program?

Your feed back is appreciated.

http://www.gmcard.com/extendedfamily/

 

[jimxo]

Well I just spoke to the GM Card toll free line and was told that a new GM family card will be coming out in September and I can get 1% cash back or credit towards a GM car.

The points have to be redeemed within 7 years. If I charge 10k per year thats only $100.00 credit.

If I sign up for the tradation GM Card I can get 5% towards my next C6, if I go for a C6 ZO6 at some point other than just a C6 the GMS plan may be impossible to get?

Does all of this sound right?

 

[RedRagTop]

In Canada the GM card gets 5% credit towards purchase but it is
limited by model. A Sunfire can only have $1500 applied against the purchase where a C5 could have the maximum $3500 put against it. I have had the card for 4 years and have got about $1700 in purchase credit accrued. Here you could only get a max of $500/year no matter what you spend. I put about $20,000/year on the card and I think now it is down to 3% no yearly cap. Be prepared to spend and be patient to rack up real bucks on that card!

 

[jimxo]

I guess what I need to decide is do I think I can buy a C6 or ZO6 with GMS program. If I cannot find a dealer who is willing to sell me a C6 a few years from now I might as well go for the traditional GM Card?

 

[Trixie]

I have a GM card and it has always been my understanding that the corvette is exempt from the program. You may want to check with cardholder services first.

 

[jimxo]

No, I just received this email from GM today.

"Thank you for contacting The GM Cardmember Services Redemption Center egarding the use of earnings.

Earnings may be applied towards the purchase or lease of a Chevrolet Corevette. Earnings may be applied towards the purchase or lease of a new and unused GM vehicle, excluding Saab and Hummer."

 

[cavettefan]

While earnings may be applied toward the purchase of a new Corvette, there is a limit to the amount of earnings that may be applied to the purchase. Presently the limit for Corvettes is $1,000 in earnings for holders of the Platinum GM card. (GMC Yukon Denalis have a $1,500 limit....)

 

[blocker44]

Presently the limit for Corvettes is $1,000 in earnings for holders of the Platinum GM card.

The limit on the old GM card is $3500.00.

 

[cavettefan]

If memory serves, the $3,500 limit was the maximum that could be accumulated in earnings ($500 maximum per year in earnings x 7 years) before the oldest earnings credit would be voided. The problem is that you would have to wait for seven years to raise the $3,500.

With the new Platinum card, you can build earnings as fast as you spend the money (and you are getting a 5% credit as well), with no annual limit on earnings. There is still the 7 year maximum accumulation period, however.