Anyone change from the old GM Card to the new? The new has limits on car purchases and the old doesn't. I was wondering if there is any incentive to the new card maybe additional redemption opportunities.

You are right. The NEW GM Card has different redemption limits for different GM models, with a minimum of $1000. The OLD GM Card lets you use upto $3500 in rebates accumulated over seven years (at $500/yr).

But the NEW GM Card has no limits on how much rebate you can accumulate in a year, whereas the OLD card has the $500/year limit. So if you are a heavy charger, say $30-$40K per year, you can accumulate $1500-$2000 in rebates in a single year. Add that to the current $1000-$3500 in GM Manufacturer's Rebates being offered plus the heavy dealer discounts, you could reduce your new car price very significantly.

IMHO, you should switch to the NEW card only if you are a heavy charger. If you only charge about $10K or so per year you will be stuck with the smaller redemption limits with the NEW card. Remember, once you switch from the OLD card to the NEW one, you cannot switch back.

P.S. I have the OLD GM Card. I chose to keep the OLD one as I only charge about $15K per year. Once I reach about $450 in rebates (on total charges of $9K) on the OLD card I switch to the no annual fee HILTON AMEX card (I also use the HILTON AMEX for all HILTON stays). If some merchant doesn't accept the AMEX card I use the GM Mastercard to earn the remaining $50 in rebates (on $1K charge) for that year. I also make sure that I accumulate the remaining $50 in rebate before the end of the card year.

Hope this helps. Good luck!

I think the new card also allows you to redeem for some vacation or other awards, but only in limited amounts--the prices on the packages I saw weren't especially impressive.

Mileboy was right--best to stick to the old card in most cases.

I actually redeemed just short of the max ($3450) in October after having the card nearly seven years. Coupled with a $2500 region-specific rebate and a $400 GMAC college grad incentive, I walked away with a new 2001 Cavalier for $6500. Very easy redemption.
I also use an Optima (Starwood) Card, but it's hard to beat the 5% rebate toward a car on the GM Card.

I buy a new car every year or so and am also a heavy charger so the new card works out the best for me.

Funny thing though, every year when my card renews I get charged a $39 fee. Their explanation is that a long time ago I had a card that had an annual fee. Sinced I switched to the no-fee cards and did not sign up as a new member, I should get charged the fee, even though the card has no fee. Every year I argue with them and every year they take the fee off and assure me it won't happen next year. Every year it happens again.

I just signed up for the card and they have sent me two balance transfer checks that will be eligible for the 5% rebate and the 2.9% intro interest rate for 6 months. Can I write the check to the bank, deposit it into money market and earn the spread on the interest for 6 months, pocket the 5% (on a $50,000 credit line), pay off the transfer after 6months, having made 3% on the money, and have 5% of 50,000, or $2500 in rebate points?

didn't say exactly what I meant....

after I pay off the transfer in 6 months, I'll have roughly 3% for half a year on $50,000 in money market interest over the interest charged, of about $750, plus have accumulated $2500 in rebate points.

I am interested in buying a Blazer, so it seems a super deal. Plus I've signed up at UPromise which pays $150 if you take delivery of a new GM vehicle.

With the NEW GM card, there are limits you can use of the rebate for specific vehicles as opposed to the old card where you could use the full $3,500 if you had it available.

The only scenario I can see for changing over to the new card is if you charge over $10K a year and plan to use the rebate within a year or two.

But I don't really like GM cars... and i know alot of out there don't really care about GM cars either.... plus, i know that every year, the benefits are getting less and less....

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Al

Thanks for your thoughts, you've enlightened my decision on a GM credit card.

hi, Hackman:

I saw your message that you are interested in buying a Blazer. I have a $1,000 GM coupon that can be applied to GM trucks, it expires 8/31, if you are interested, e-mail me at [email protected]

I have an old GM Card that earns the 5% and last week purchased a GM vehilce. The dealer went through the steps to see if the vehicle meet the card criteria and it did. After they called GM and spoke with 3 reps, on speaker phone, who authiorized it, The dealer then said NO we will not use the earnings because it doesn't qualify. I am in the process of following up directly with GM who initially has said it qualifies and they don't understand why the dealer refused the earnings. My questions " HAS ANYONE HAD THIS SAME PROBLEM USING THEIR EARNINGS ??" Any help would be great because I fear I might get the run around from GM also.

Alright! Resurrection of an 8 year old thread

Ok, I'll try to help you out here, but, I'm not entirely sure I understand what happened.

First off, if GM authorized it, there is absolutely no reason the dealer should refuse it.

The process should be; you negotiate your best price, and then once you handshake you tell them you would like to redeem GM earnings. At that point the dealer calls the redemption hot-line and gets the authorization code. If they did this and got the code, it's done! Your earnings are going to be deducted from your account applied to the purchase. Might want to check your earnings balance if this is your case.

Now, otherwise if this hasn't happened and you were only calling the number on the back of your card, then, the CSR there might not actually have all the facts straight. In fact, the CSR you call on the back of the card is an HSBC credit card agent, and might only have limited information about the GM program. So, if that was the CSR you got 'authorization' from, it really doesn't count.

Now, might I ask what vehicle you were buying?

I know that you can use the earnings for Chevy, Buick, Pontiac and Cadillac. They started to allow Saturn about a year or two ago... but, now that it's in the process of being sold (or is it already sold now), I am not sure it will count any more, likewise with Hummer and Saab.

Another thought: Is it you can't redeem your earnings at all, or just not all of them? As there are varying degrees of 'old card'. 'Old Card' could now imply 5% earned subject to redemption limits depending on vehicle type, vs the 3% the 'new card' earns today. 'Old Card' could also mean 'Old Old Card' where it earns 5% subject to a $500 cap per year, but, you are not subject to any redemption limit.

Essentially, we need a bit more detail to help you out.

I purchased a GMC which also qualifies. The dealer did in fact have the authorization number and at first put it through, while I watched. That's when he checked with his mgr because he didn't know how to handle the paperwork with the earnings, and came back and said they wouldn't accept the earnings. We did have them reverse the earnings at that point beacuse we didn't want the dealer to get the money from GM and keep it for themselves. All the earnings on my card would qualify for this purchase.
I really don't know if it's an issue of the dealer having to wait for the money from GM or that they could've gotten more money for the purchase if they knew I had the card. It's hard to know what they were thinking at that moment, but after the purchase price was agreed upon I did mention I had earnings.
My biggest frustration is GM earnings authorized it, with my information and the vehicle VIN number, and every requirement was met.

I hope you didnt actually buy the car from that sleezy dealership. I would have gone to the next dealership and given my money to them.

Interesting. There's no reason for the dealer to refuse after GM gave the authorization. The dealer would get the money -- unless the dealership is concerned that GM will enter bankruptcy again, and not pay them...

I bet it's either incompetence or, the sales manager has someone else who will buy that exact vehicle for more money.

Regardless, neither bodes well for you if you have a relationship with that dealership (which you would as presumably be doing your service and warranty issues there). So, I agree with gbryan84, go some where else.