The My GM Rewards Card works similarly to other rewards credit cards in that it doles out points based on how much you spend. With this card, you'll earn 7x points per dollar for GM Certified Service, GM Genuine Parts and ACDelco parts, eligible accessories, and most OnStar and Connected Services plans.
Cardholders will earn 4x points per dollar for all other purchases. Points are worth 1 cent, and there's no limit to the number cardholders can earn.
So, if you managed to spend $10,000 on your card the first year, you would rack up $400 total -- for general purchases. If you spent $10,000 on GM Certified Service or other qualifying purchases, you'd earn $700.
Beyond its lucrative earning structure, another great part about the card is that it doesn't charge an annual fee. If you were to use it for regular purchases and pay it off every month, the rewards you earn would be truly "free."
However, the kicker is that your rewards won't really benefit you at all unless you're planning on buying a new or used Chevrolet, Buick, GMC, or Cadillac vehicle.
Unlike other reward cards, the My GM Rewards Card doesn't let you redeem points for cashback or gift cards. You can only redeem your points for a discount on a new or used car through a licensed GM dealer, or for GM parts and services. Plus, you can't stack My GM Rewards Card earnings with fleet vehicle incentive programs or the GM employee discount.
There are three membership tiers cardholders are able to progress through, depending on how much they spend. The three tiers are Silver, Gold and Platinum. Cardholders can progress to Platinum by spending $110,000 or more in three years on an eligible GM vehicle, or by spending $2,500 in a year on GM Certified Service, accessories, parts, and the other 7x points qualifying card purchases.
Gold status comes with a $100 statement credit for every $1,500 cardholders spend on gas with their card in a calendar year. Electric car owners can get a $100 statement credit when they pay for six electric bills with the card between January and December 2022.