GM Card
 

My wife has a GM Card from before we got married, and she still has some points left on it. Is there any way to transfer those points to something we'll actually use? (no offense to GM...allright maybe some offense). It looks like the only way to use them is to buy a GM car, but I thought maybe there is a loophole I don't know about.

I'm not aware of any way to transfer GM card points.

But if you and/or your wife travel abroad with any frequency, the card will be very useful. It's issued by Household Bank (HSBC) which is one of the few banks that still charges only a 1% foreign exchange fee. Most of the major card issuers assess a 3% fee for all purchases made in another currency, so you can save a considerable amount by using the GM card when you go out of the country.

That's a good point, thanks.

I believe there is a process where you can let a friend use your GM points to buy a car. It would need to be a close, trusted friend, because you have to get an additional card issued in their name (at least temporarily) in order for them to redeem your GM points.

I never knew this, I just assumed it had to be someone in your household. My points will soon have a home !!

Davesdog-
Please report back on your experience with this, either on this thread, or via PM if you prefer. I and perhaps others are interested in using this approach...

can someone please tell me what they like about the GM card?

nothing

I have been using the GM card for about 10 years now. I buy 2 or 3 GM's per year. So far I have used about $15,000.00 in GM/MC rebate cash. That is equal to a free car!

How are you able to us $15,000 over 10 years? I have the original gold card and they cap me at $500.00 a year. Which card do you have?

The original gold GM card allowed up to $1000 a year - later reduced to $500 a year. Six year ago when we bought a Malibu we were able to save almost $6400 on it because of the GM card. Also it originally had partners that matched the 5% credit making it 10% (Mobil was one such partner). Balance transfers also counted toward the annual $1000 limit. Annual fee also was rebated when you redeem. Great card!

The cap that was put in place awhile ago really diminished the value. My family has used it to reduce the purchase price of a Chevrolete Tahoe and Silverado. Not what I would have chosen, but it's not my moolah!

There seem to be different versions of the card out there.

I got the GM Platinum Card in late 2004, and there is NO annual cap on earnings. Earnings are valid for 7 years, and then they expire (so my 04 earnings are good til 2011, 05 til 2012 etc).

Redemption allowances range from $1,000-3,500 depending on model. http://www.gmcard.com/GMCard/apply/r...allowances.jsp
Nothing like the $6,400 that hernande got off a Malibu, but its something.

Nobody Buys GM Vehicles Anymore
 

That's the biggest problem with a GM card.

Who knows how much longer they will be in business.

I called them today, they said either it has to be someone from your household, or you can add the name to you credit card. They said they did not have to issue a card unless you wanted one for the 2nd party. Their name also has to stay on your account while the clearing process is being completed. (the points going to the dealer). You no longer have to call and have them mail the points to you, this is all done at the dealer that you get the car from. This deal can also be combined with the current employee discount program...