The GM BuyPower is strictly for those who plan to buy a GM vehicle in the future, or who now own one that they need to have regularly serviced. Keeping this in mind, we advise you to always pay on time and to pay the full balance. High late payment fee and relatively high APR: The late fee for this card can be up to $38 and the APR as much as 24.24%.The rewards can also be applied to the cost of vehicle costs like SiriusXM subscriptions or OnStar plans. Earnings can be used to buy or lease a new GM vehicle or, to an annual limit of $250, for in-dealership purchases of GM parts, servicing, and accessories. Both involve redeeming your rewards with GM. Limited Redemption Options: While most business cards offer multiple and quite different, ways to redeem rewards, the GM BuyPower has only two options. That’s a big drawback, especially considering that almost all other business cards offer such incentives. No Bonus: Unfortunately, the GM BuyPower doesn’t come with an introductory bonus.If you’re planning on making major purchases or taking a vacation, this introductory offer gives you a full year to make payments on them without paying interest charges. You’ll get 0% APR for 12 months after opening an account after that, your variable APR will be between 15.24% to 24.24%. Introductory 0% APR: The GM BuyPower card has an introductory 0% APR for purchases.That’s a higher rewards rate than you’ll find with most credit cards. You’ll get 5% in earnings on the first $5,000 you spend each year, giving you $250 towards a new car if you charge the maximum to the card. After reaching that spending threshold, you’ll get an unlimited (and still-decent) 2% in earnings on further purchases. High Rewards Rates For a Card With No Annual Fee: If you’re in the market for a new GM vehicle, the GM BuyPower card offers exceptional rewards, especially for a card with no annual fee.The new GM Extended Family Card will earn 1% cash back on all purchases and will provide a $100 credit after spending $1,000 on purchases in the first three months – for no annual fee.High late payment fee and relatively high APR The GM Extended Family Card will remain in the GM portfolio, with Goldman relaunching the card on February 18. Earn 3% back on gas, restaurants, office supply stores, and more.
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