I've got one of the old ones that earn 5% and have no limit on the amount you can redeem towards any GM vehicle.

Starting to question the point of ever using the card though.

1) Will I be buying a GM again? Only the G8 GXP and the Camaro SS interest me (well, CTS-V as well, but, it's way out of my price range), and now Pontiac along with the G8 will be but a memory. Besides the whole bail out thing is just annoying.

2) They keep running promotions where they give people with 'small' earnings balances 'top offs' where suddenly they go from $120 in earnings to $3000 for a limited time. Anyone with high earnings balances get... nothing.

3) These earnings really can't be 'cashed out' (unless you buy a car), and have only a 7 year life.

Seems the card is only decent to hold for the random "top off's" (and in my case cuz it's my oldest card) but not actually use anymore. I.e. the card is more of a mailing list that GM will target people on for cash incentives, but, once you earn too much on the card, you actually will never get any incentives. Makes since as they probably figure if you have a lot of earnings there's a higher chance you'll use them, where as if you have few, very little chance you'll be looking to buy a GM without an incentive thrown your way. Naturally what might seem good for the bottom line, just annoys the more loyal users of the card.

At any rate, would be curious to hear from other FTers who actually have this card.