New GM Rewards My Card is now a digitally enabled credit card


General Motors, which first introduced its branded credit card 30 years ago, is moving to a new digital platform and partnering with Marcus by Goldman Sachs.

“Points earned today can be redeemed tomorrow,” John Lazzati, general manager of consumer cards at Marcus by Goldman Sachs, said on Monday during a press call announcing the major change.

“The points will add up quickly.”

The GM Rewards My Card is designed to drive sales of GM cars and trucks and to reward loyal customers.

Julie Heisel, director of GM Rewards and GM Card, called the new My GM Rewards “a big win for our customers with more ways to earn and redeem points, including premium membership levels with exclusive offers and opportunities ”.

The card has three membership tiers – Silver, Gold, and Platinum – where customers can level up as they spend. Each level unlocks higher point earnings and trading caps. Gold and Platinum Rewards members can now redeem points for the purchase of GM certified pre-owned vehicles and their points do not expire.

Lazzati said more than 50% of GM customers will buy another GM vehicle, so the card will be attractive to earn points for car buyers and those who spend money on GM services.

The existing GM card has over 3 million card holders. Cardholders will automatically transfer to Goldman Sachs.

Select cardholders will receive the all-new GM Rewards My Card. But GM said he would still have his GM business card, extended family card, and GM cards. And customers will receive a new redesigned plastic in the coming weeks.

Both groups of clients will receive information on setting up their new account with Marcus by Goldman Sachs in the coming weeks. They have nothing to do and can continue to use their card.

GM is ending its credit card partnership with Capital One at the end of February. The card will continue to be part of the MasterCard range.

My GM Rewards card is going digital

Marcus by Goldman Sachs, the mainstream banking platform of the investment banking powerhouse, will gain even more recognition from everyday consumers by connecting with the giant Detroit-based automaker.

The My GM Rewards card is the second credit card issued by Marcus By Goldman Sachs. In 2019, Marcus partnered with Apple to launch the Apple Card.

Applications for the new card are already available on

Lazzati described a smooth online application process where credit can be issued immediately to those who qualify. The program will include a virtual card on the Marcus mobile app.

Consumers will enter information including their income, address and social security number. Lazzati said the system works behind the scenes to verify a consumer’s identity to prevent fraud.

He noted that consumers don’t have to wait seven to ten days to receive a card in the mail, but can use available credit immediately upon approval. The map is available through the app.

While consumers can leave their wallets at home, Lazzati joked that they don’t leave their phones behind when they leave home.

Features for those who sign up for the card include:

  • No annual fee
  • 0% introductory rate for the first nine months only. After this introductory rate, the annual rate for the card will range from 14.99% to 24.99%, depending on your credit score. Interest rates are variable and may increase or decrease in the future based on changes in the prime rate.
  • A bonus for those who sign up for the 10,000 point card after spending $ 1,000 on the GM Rewards card in the first 90 days.
  • Gold and Platinum members can receive a $ 100 credit for every $ 1,500 spent on fuel per calendar year.
  • For eligible GM electric vehicle owners, a $ 100 credit is available when you make six utility bill payments using the card per calendar year (cardholders must add their GM electric vehicle to their profile via My Account.)

Existing cardholders will not receive the 0% introductory rate or the early spending bonus offer. These offers only apply to newly acquired customers.

GM said there would be other offers to convert existing customers. For example, a customer can earn points or earnings by creating their Marcus account after the conversion.

The all-new credit card, the companies said, is seamlessly integrated with the My GM Rewards loyalty program, which launched in 2018 and now has more than 6 million GM customers.

Like many credit cards, a point is worth a dime. Thus, 10,000 points on the card will equal $ 100 to purchase or lease a GM car or truck or to cover services at a GM dealership.

The card offers four points for every dollar spent on daily purchases.

What will be of interest to GM customers, however, is that the card also offers seven points for every dollar spent on “GM Certified Service, GM Genuine Parts and ACDelco Parts, Qualifying Accessories and OnStar Plans.” and connected services ”.

Cardholders can redeem unlimited points for the purchase or lease of qualifying new GM vehicles.

But consumers can only redeem up to $ 1,000 for the purchase of certified pre-owned Chevrolet, Buick, GMC or Cadillac models.

Cardholders can redeem up to $ 250 for GM services and parts, including GM SiriusXM.

Gold and Platinum cardholders can redeem up to $ 250 per calendar year for gift cards from a variety of eligible merchants, stores, restaurants and more, at a 1% exchange rate.

Consumers, of course, want to factor in the cost of their credit card debt if they don’t pay the bill every month.

Know the interest rate you pay on any credit card because not everyone pays the same rate.

The average credit card rate is 16.13%, according to But people with a lower credit score can pay, on average, around 24%.

The environment remains competitive for most consumers. While the introduction of the new program is appealing to loyal GM buyers, there are plenty of offerings on the market right now, unlike when the pandemic started two years ago.

“Credit card marketers basically went into hiding in 2020 as the pandemic set in and risk and uncertainty reigned,” said Ted Rossman, senior industry analyst for

“Card issuers were concerned that their existing customers would reimburse them, given the sudden spike in unemployment and widespread disruption to business and society, and they had very little appetite to hire new customers,” he said. he declared.

But the expected increases in delinquencies and defaults never materialized.

For much of the past year, he said, card issuers were keen to grow their businesses again.

“They wanted their share of the rebound in consumer spending,” Rossman said.

Contact Susan tompoor vthat is to say [email protected]. Follow her on twitter @trickster. To subscribe, go to Rlearn more about the business and join our company newsletter.


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