I'll be darned. Good thing I've only got $2300 on mine or I'd be really ticked

 

I kept my GM Gold Card on the old system, max out the $500 earnings, and then use the wife's card the rest of the year, which I converted ot the new GM Card, so I can accumulate as much rebate as we can.

I figured this was the best setup... I can always earn rebate, and I can still max out the $500/year for the unlimited redemption card.

 

EXACTLY the same strategy our family uses. We've captured over $12,000 in rebates in the last decade, doing this, charging everything possible to our cards, and paying them off in full each month

As for the cars... The GP GXP is a little more but has more features, performance and handling. However I must admit the Impala SS is a great performance value.

 

And we do everything you are saying here as well! I've been a member since they initially offered the GM Card way back in 1992, I believe.

It's an incredible offer, and frankly, I am AMAZED more people do not use this.... even if they have no plans to buy a GM car in the near future, it could payoff nicely 5-7 years down the road. If you KNOW you are going to buy a GM car... then I think you have to be totally INSANE not to use this system.

The 5% is the best "rewards" return out there on a credit card.

It's funny how many people look at me like I am nuts when I tell them what we do and say things like "Oh, I'd NEVER use a credit card, that's crazy!"... or "I don't have the self control to pay it off every month, so I use cash", etc etc etc... I just don't get it.

 

Total lifetime redeemed earnings: $7,163.10
I can't believe they haven't killed this program. I never expected it to last this long when I got my first card in December 1992.

 

Ya, I've always been a little amazed that it has stuck around.

It must drive a significant amount of business for GM.

I remember shortly after The GM Card came out... Ford offered The Ford Card, with 5% rebate earnings, basically a mirror program.

It only lasted like a year or so, and they shut it down.

I give a lot of credit to GM and Household Finance for keeping this program going!

 

I love it I only started mine back in June 2002, because before that I was still a student, and GM Card doesn't seem to like student annual incomes very much I redeemed about $700 of my dad's when I bought the GA in 7/02, and what's amazing is that he had just bought the Formula in 4/02, and already accumulated $700 in 3 months!!! I'm pretty sure they've earned over $10k throughout the years, having first redeemed about $2k or so on their old '95 GP. GM Card is great...I highly recommend it, and indeed it does earn more repeat business. They're very flexible, too...my dad just redeemed $2,400 on his '05 TB, despite the fact that the TB was really purchased by the company, not him! $2,400 cash back and a free car...lucky man

But yeah, I've accrued $1,700 or so in my 3 years (its gone up substantially since buying my house just under 2 years ago) with the card, and I plan to get Ashleigh one too, so we can keep accruing points Clean, your extra $300 will roll over to your next purchase, so you won't lose it.

 

I got $2400 off My Colorado last fall. If you are going to buy a GM vechicle in the future how can you not have this card?

 

are there any annual rates?

I've had a bunch of those applications mailed to me.. But never bothered... Hmm

 

No annual fees.

The Interest rate is somewhat high, though.... so it's not a card I'd carry a balance on (It's not good to carry a balance on ANY card, for that matter...)

But, the "Use itfor EVERYTHING and pay it off each month" is the perfect strategy.

 

In acouple of months my points are going to start expiring.

 

Well, the good thing is, at least from the way I remember from reading the program rules anyway, is that the rebate points drop off as they pass 7 years... so, at least you don't lose them, say, a year at a time... it's a day-by-day basis.

 

That's right, you lose them month by month.

Ironically, I got the card to save for a 2005 Z/28.

 

I just checked with Mastercard again. For those of you with the old blue cards, there is no limit to the amount of savings you can apply to the purchase of one vehicle. Also, there is NO $500 limit/year on what you can accrue in one year. There is no limit on the old blue card.

 

Just a curious question....why do the points not apply towards Saturn? I can kinda understand Hummer and Saab, but Saturn?