GM BuyPower Card from Capital One

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Good for GM fans, bad for everyone else.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

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Editor’s note: This offer may no longer be available.

General Motors fanboys (and girls), here’s your credit card. If you plan to buy or lease a new Chevrolet, Buick, GMC or Cadillac in the next few years, the GM BuyPower Card from Capital One could help you save for that down payment — or to buy more car than you could otherwise afford.

On the other hand, if you’re not planning to bring home a vehicle in the GM family any time soon, this card is worthless.

Review

Cardholders earn 5% back on their first $5,000 in purchases every year. After that, all spending on the card earns 2% back. If you owned this card and made just $5,000 in purchases with it, you’d earn $250 a year.

That’s not too shabby for a card that carries no annual fee.

And since the rewards don’t expire as long as your account is in good standing, you could build them up over the course of several years and use them when you’re ready to buy or lease. The rewards can be used in addition to some other GM discounts, if you’re eligible for one.

The card comes with another nice benefit: 0% introductory APR for the first 12 months on purchases.

That being said, unless you want to be locked into using rewards solely toward a new GM, we’d steer clear of this one and choose a card with greater redemption flexibility. Get a rewards card that lets you use your earnings however you’d like, or just gives you money back.

Who should get this card

If you’re yearning for a new Chevrolet, Buick, GM or Cadillac, this card can help you save toward that goal. The card gives generous rewards back on spending towards a new car within the General Motors family.

The rewards don’t expire and you can apply them on top of any other dealer incentives, potentially netting you a new car for less. You can also use the rewards to make dealer upgrades and add features like a killer sound system or a plush leather interior.

Advantages
  • Earn cash to make a down payment on your new GM vehicle.
  • There’s no annual fee or foreign transaction fees.
  • Introductory 12-month, 0-percent APR on purchases.
Disadvantages
  • Since you can only use these rewards to buy or lease a new GM vehicle, you’re unable to apply them to another brand or even a used GM car.
  • You’d have to spend heavily on this card to earn enough rewards to make a dent in the price of a new car. If you spend $1,000 a month on this card, you’d earn only $390 in rewards over the course of a year. (You'll earn $250 on the first $5,000 (5% rewards) and $140 on the remaining $7,000 in spending (2% rewards).

Fees and APR

  • This card charges no annual fee.
  • There is no foreign transaction fee for purchases made outside the U.S.
  • Standard APR is a variable 14.74% .

Extras, perks and using rewards

Once you agree on a price for your new or leased GM car, your dealer can deduct the value of your rewards from the total price. You can use your rewards as a down payment or against the total purchase price. The rewards earned on this card can only be applied toward the purchase or lease of a new GM vehicle. They cannot be redeemed for cash or a cash equivalent.

This card comes with World Mastercard benefits which include travel protections, worldwide assistance and concierge services.

How this card compares

Citi® Double Cash Card
  • Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
  • Balance Transfers do not earn cash back
  • 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% - 25.49% based on your creditworthiness*
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases
  • No categories to track, no caps on cash back, no annual fee*
Credit Needed

Excellent/Good

Regular APR

15.49% - 25.49%* (Variable)

Annual Fee

$0*

Purchase Intro APR

N/A

Balance Transfers Intro APR

0% for 18 months*

When it comes to rewards value, the Citi Double Cash Card ranks among the very best cash-back credit cards that charge no annual fee. If a GM vehicle isn’t in your future, consider a cash-back card instead.

So why, you might ask, does this card not receive a higher score from Bankrate? There are a couple reasons, but the main thing dragging this card down is this: Because Citi Double Cash offers no sign-up bonus, it struggles to compete with many cards in this category.

Longer-term, the Citi Double Cash Card may earn you more rewards. Earn an unlimited 1% cash back when you make a purchase and another 1% back when you pay for those purchases.

Capital One® Quicksilver® Cash Rewards Credit Card
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 14.74%-24.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 14.74%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees
Credit Needed

Excellent, Good

Regular APR

14.74% - 24.74% (Variable)

Annual Fee

$0

Purchase Intro APR

0% intro on purchases for 15 months

Balance Transfers Intro APR

0% intro on balance transfers for 15 months

The Capital One Quicksilver Cash Rewards Credit Card is simple. And that’s a good thing.

The card’s rewards program is structured so you don’t have to think about whether this is the month that gas station spending pays more or that it’s time to take advantage of warehouse club spending. There’s also no annual fee, so you don’t have to do the math about how much you’ll have to spend to make the card worth it.

Fidelity® Rewards Visa Signature® Card
  • Earn unlimited 2% cash-back on every net purchase.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

Credit Needed

Excellent

Regular APR

14.99%. This APR will vary with the market based on the Prime Rate.

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

When it comes to credit cards that charge no annual fee, the Fidelity Rewards Visa Signature Card stands out. It’s similar to the Citi Double Cash in that it offers a top rate, but no sign-up bonus.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.