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My GM Rewards® Mastercard® review: An ideal rewards card for GM fans

A niche rewards card for the GM loyalist.

 /  13 min
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Bankrate rating
Rating: 4.1 stars out of 5

Bottom line

The My GM Rewards Card earns big rewards on eligible GM purchases and everyday spending for staggeringly few fees, but the card’s limited redemption options may only make sense for GM car owners or lessors.

Best for GM payments & leases
Image of My GM Rewards® Mastercard®

My GM Rewards® Mastercard®

  • Rewards value
    Rating: 4 stars out of 5
    4 / 5
    Rating: 4 stars out of 5
    4 / 5
    Rewards flexibility
    Rating: 2 stars out of 5
    2 / 5
    Rating: 3 stars out of 5
    3 / 5
Good to Excellent (670 – 850)
Recommended Credit

15,000 points

Intro offer



Offer valuation


4X - 7X

Rewards rate



Annual fee

20.24% to 29.99% variable purchase APR based on creditworthiness. Rates as of 8/1/2023

Regular APR

My GM Rewards® Mastercard® Overview

GM’s My Rewards Program offers solid loyalty rewards for nearly all things GM: eligible new and used vehicles, parts and accessories, dealership service and more. But the My GM Rewards® Mastercard® can take these rewards to another level. The card boasts a generous rewards rate on everyday purchases and GM-specific spending. It also offers several valuable perks and annual statement credits.

However, you’ll only get the full one cent per point value when you redeem points toward an eligible GM purchase. Other options come with a big cut in point value.

While the My GM Rewards Card earns kudos for its low fees and high rewards rates, its limited redemption options make it worthwhile only for a niche audience of GM loyalists.

  • Credit Card Cash Back


    • 7X points on GM Certified Service, GM Genuine and ACDelco parts, eligible GM accessories, SiriusXM subscriptions and most OnStar and GM Protection plans 
    • 4X points on all other purchases

    Expert Appraisal: Good
    See our expert analysis

  • Rewards

    Welcome offer

    • 15,000 points after spending $1,000 on purchases within the first three months.

    Expert Appraisal: Unimpressive
    See our expert analysis

  • Credit Card Apr

    0% intro APR offer

    • 0 percent intro APR on purchases for 9 months
    • 20.24 percent to 29.99 percent variable APR

    Expert Appraisal: Good
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • No annual fee
    • No foreign transaction fees 
    • No cash advance fees
    • Late payment fee: up to $40

    Expert Appraisal: Exceptional
    See our expert analysis

  • Congrats

    Other cardholder perks

    • Automatic Gold Tier status
    • Up to $50 each year towards vehicle detailing
    • World Elite Mastercard benefits
    • $100 statement credit when paying 6 months of electric bills or if you spend $1,500 on fuel per calendar year at eligible gas stations

    Expert Appraisal: Good
    See our expert analysis

What are the pros and cons?


  • Checkmark

    The card has remarkably low rates and fees, and no annual, foreign transaction, or cash advance fees.

  • Checkmark

    It has a great rewards rate for general purchases at 4X points.

  • Checkmark

    A relatively long intro APR could be helpful for large expenses like car repairs.


  • The 15,000-point welcome offer is only worth up to $150 and is mediocre compared to other no-annual-fee cards.

  • There’s an annual redemption value cap of $250 per year for statement credits with a poor redemption rate of 0.25 cents per point.

  • Redemptions toward purchasing eligible Certified Pre-Owned GM vehicles are capped at $1,000 per calendar year.

Why you might want the My GM Rewards Card

While the My GM Rewards Card is tied specifically to GM dealerships, it has broader benefits that could be worthwhile. The rewards rates are great for GM vehicle owners who use the dealership services but also want a card that can be useful for general purchases. There’s also the added bonus of having fewer fees than most cards, making it a good no-annual-fee option for the GM loyalist.

Rewards Rate: Best flat-rate value on the market 

This card’s rewards program may seem one-note at first: You’ll earn the most on eligible purchases with GM and a lower flat rate on all other purchases. Couple this earning structure with the linked My GM Rewards loyalty program, however, and you’ll also earn on many other GM purchases.

The My GM Rewards Card earns 7X points on eligible GM purchases, including paid service, parts, accessories, WiFi at GM dealerships and select OnStar and GM Connected service plans. All other spending will earn 4X points.

Luckily, you can also earn extra rewards on other GM expenses through the My GM Rewards program with your Gold status, including 1X points per $5 spent on new GM vehicles and leases at a GM dealership, 2,500 points per pre-owned vehicle purchased at a GM dealership and 500 points per Protection Plan (i.e., extended coverage for certain repairs) purchased at a GM dealership.*

This combination provides solid rewards-earning value that can help build towards additional savings on GM expenses.

*Participating GM dealerships include Chevrolet, Cadillac, GMC and Buick dealership locations. Pontiac, Saab, Saturn, Hummer (H2, H3) and Oldsmobile owners may also be able to earn rewards on service, parts, etc. at these locations.

Intro APR: A rare addition for a retail card

The card comes with a 0 percent intro APR offer on new purchases for your first 9 months as a cardholder, after which the ongoing variable APR of 20.24 percent to 29.99 percent (based on creditworthiness) applies. While this offer is far from the longest intro APR period out there, retail cards often don’t come with intro APR offers. While there’s no balance transfer offer, the intro APR could allow you to chip away at large expenses like car repairs.

Rates and fees: A unique, low-cost retail card

Retail cards and other co-branded cards are infamous for high rates and fees, but the GM Rewards card’s fees are among the best we’ve seen in this category. There are no annual fees, foreign transaction fees or cash advance fees to worry about. Compared to even the best no-annual-fee cards, this card will impact your budget less than most. 

Benefits: Some valuable statement credits and a few extras

A useful card-exclusive perk is up to a $100 statement credit back when you purchase $1,500 of fuel at eligible gas stations per calendar year (after offer activation) or when you make six electric bill payments per year if you’re charging an electric car (requires linking your electric vehicle to your My GM Rewards account). You can also get a $50 allowance toward vehicle detailing at a participating GM dealership. However, the value isn’t as much of a bargain considering full detailing packages can typically cost upwards of $200.

The My GM Rewards Card also carries World Elite Mastercard benefits, including partner perks and travel services. Highlights include:

  • Peacock: $3 off Peacock Premium or $5 off Peacock Premium Plus each month
  • Lyft: Receive a $5 credit each month after three rides or purchases
  • ShopRunner: Free two-day shipping on all orders
  • Instacart: 2 complimentary months of Instacart+ and $10 off your second order each month

Why you might not want the My GM Rewards Card

This card lacks auto-centric perks you might expect from a car rewards card and greatly restricts your redemption opportunities and value. You’ll miss out on common benefits like roadside dispatch service, auto rental collision damage coverage, travel insurance or purchase and extended warranty protections for large purchases. 

Welcome Offer: The value drops quickly

As a new cardholder, you can earn 15,000 bonus points after spending $1,000 on purchases within your first three months. Welcome bonuses aren’t often available on niche co-branded cards and a $1,000 spend should be relatively easy to reach in the first three months, especially if you use the card for your everyday spending or large expenses like a car repair.

However, this offer weighs in at a maximum value of $150 if you redeem for eligible GM purchases and can plummet to nearly $38 if you redeem points for statement credits. A $150 bonus value is mediocre for a card with no annual fee. Many competitors offer at least a $200 value for an equal or lower spending requirement.

Redemption: Highly restrictive

Though there many ways to earn rewards with the My GM Rewards card, the redemption process is tangled in restrictions. The ideal redemption is for a credit towards an eligible GM purchase at one cent per point. Conversely, redeeming for a statement credit will slash your point value by 75 percent down to 0.25 cents apiece. Statement credits are limited to $250 worth of redemptions per year (100,000 points).

There’s no limit when redeeming toward eligible GM purchases, but you can only redeem $1,000 worth of points (100,000 points) per year toward eligible pre-owned vehicles. To cover your GM purchases, you can redeem your points either at the dealership or through your online account for a statement credit. Along with statement credits, purchasing or leasing new or used vehicles, you can redeem for the following:

  • Service at a GM dealership, including oil changes, tires, tire rotations, wiper replacement and brake and engine repairs
  • Eligible accessories, including wheels and floor liners
  • GM Genuine and ACDelco parts
  • Select OnStar and GM Connected Services plans
  • SiriusXM subscriptions
  • GM Protection Plans for Chevrolet, Buick, GMC and Cadillac vehicles
  • GM Financial monthly charges

Since you can only use your points once you receive your next billing statement, you can’t put the windfall of points you earn from buying a vehicle toward the cost of the vehicle itself. You’ll have to use your rewards toward future GM purchases, which means you’re essentially locked into buying from the dealership. You also can’t combine points with other discounts, packages or promotional offers, including the GM Fleet vehicle incentive program or any GM or GM-affiliated company employee discounts. 

How the My GM Rewards Card compares to other rewards cards

Selecting rival cards to compare to the GM Rewards card is tricky since most cards don’t offer rewards tailored to car dealership or automotive purchases. A good zero-interest or flat-rate cash back card could be a rewarding option for vehicle-related purchases if you have enough money in the bank to cover it.

Image of My GM Rewards® Mastercard®

My GM Rewards® Mastercard®

Annual fee


Intro offer

15,000 points

Rewards rate

4X - 7X

Recommended Credit Score

Good to Excellent (670 – 850)
Image of Wells Fargo Active Cash® Card
Bankrate Score
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on Wells Fargo's secure site

Annual fee


Intro offer

$200 cash rewards

Rewards rate


Recommended Credit Score

Good to Excellent (670 – 850)
Image of Capital One Walmart Rewards® Mastercard®

Capital One Walmart Rewards® Mastercard®

Annual fee


Intro offer


Rewards rate

1% - 5%

Recommended Credit Score

Fair to Good (580 – 740)

Best cards to pair with the My GM Rewards Card

Since the My GM Rewards Card is only valuable for GM-brand spending, many rewards cards can maximize your earning potential on other purchases. However, this card still has a rewards rate that many no-annual-fee cards can’t beat, so it may be best to pair it up with another card.

Who is the My GM Rewards Card right for?

While it carries useful benefits for most credit card users, this card is geared towards a very specific audience.

Bankrate’s Take — Is the My GM Rewards Card worth it?

If you’re willing to funnel all your rewards toward the cost of a GM car, services, or parts and repairs at a GM dealership, then the My GM Rewards Card can offer terrific rewards value and solid perks with remarkably few fees. Yet, the card’s laundry list of restrictions means only GM loyalists who spend heavily on GM purchases will see significant benefit. 

How we rated this card

cards rated
rewards programs valued
data points analyzed
Credit Card Reviews
perks evaluated

We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.

Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest). 

We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:

Frequently Asked Questions

*The information about the Capital One Walmart Rewards® Mastercard®,  GM BuyPower Card® and My GM Rewards® Mastercard® has been collected independently by The card details have not been reviewed or approved by the card issuer. 

Written by
India Davis
Editor, Credit Cards
India Davis is an editor specializing in credit cards and updates. She believes in putting the reader first and carrying out a brand’s voice to its fullest potential. She has lived and worked in three different countries and hopes to explore more of the world post-pandemic.
Edited by Former Editor, Credit cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.