Image courtesy of Barclays
The GM Rewards Mastercard is changing, and on most counts, it’s better than the previous iteration. Highlights of the revamped card include a valuable welcome offer and high rewards rates.
This overhaul comes as the GM card switches issuing banks from Goldman Sachs to Barclays. Barclays and General Motors announced their partnership in October 2024, with Barclays agreeing to take on existing GM credit card accounts from Goldman Sachs.
The new GM credit card has the following benefits:
A new cardholder welcome offer: 30,000 bonus points after spending $1,000 within 90 days of account opening. One point is worth 1 cent, so the bonus is worth $300 — twice the value of the welcome offer on the old GM credit card.
10x points on eligible GM purchases. (Cardholders earn 7x points for paying with the GM Rewards Mastercard and an additional 3x points for belonging to the GM Rewards loyalty program, which you’re enrolled in automatically when you get the card.) The old GM credit card earned just 7x points on GM purchases.
3x points on all other purchases. The old GM card earned 4x points on non-GM purchases.
A one-time-use 0% APR period for 9 billing cycles from the transaction date for eligible GM purchases greater than $499 that are made within 30 days of account opening. This benefit could help people finance a new car or pricey repair.
An “always on” 0% APR period for 6 billing cycles from the transaction date for GM purchases greater than $499 that are made after 30 days from account opening. There’s no limit on the number of times cardholders can use this benefit.
The ability to combine GM Rewards points with other discounts such as GM employee and dealership discounts.
Purchases that qualify for the stellar 10x rate include new or pre-owned vehicles and repairs at a GM dealership. Points may be redeemed toward a new GM vehicle, GM Financial account balances, parts, accessories and services. Rewards expire after seven years of account inactivity.
Those who have the Goldman Sachs-issued GM card may continue to use their card until Aug. 25, 2025. They will receive a new credit card sometime in summer 2025. Any rewards and recurring expenses charged to the old GM card will be moved automatically to the new card account.
