GM Card vs. GM Flexible Earnings Card

GM Card vs. GM Flexible Earnings Card

The highly popular GM Card, launched in 1994, is a credit card which provides a reward program that guarantees great savings on any new GM vehicle; whether its Vauxhall or Saab. The GM Card is one of the leading reward schemes in the UK. Cardholders can earn rebate points on all purchases made using the GM Card, enabling them to save up to an amazing £2000 on the purchase price.

In 2005, most of the GM Cardholders benefited from using their rebate points to save up to £2500 on new Saab model. By using the GM Card on all regular purchases, rebate points will significantly increase, helping cardholders to save up to £2000 on a new Vauxhall or £2500 on a Saab. The other prominent benefits offered by the card include 0% per annum on purchases and balance transfers fixed for five months from account opening. The reward rate is also extremely high at 3%.

On using the GM Card for the first time, 100 Rebate Points will be credited to the cardholder's account. Cardholders can earn additional Rebate Points, called Partner Points, when they use the Card at GM Card Partners. Consequently, for every £100 spent, cardholders can earn 3 rebate points and 3 partner points, amounting to an incredible £6 saving on the new Vauxhall/Saab. Any two Cardholders living at the same address can pool their rebate points. The cardholder can transfer collected rebate points to an eligible relative. If it's a company car, cardholders can redeem a maximum of 500 Rebate Points at a time.

The GM Flexible Earnings Card, issued by HSBC Bank Nevada, N.A.., has been created for those who plan to buy or lease a new GM car, truck, or SUV in future. The reward program provides cardholders three main options to redeem their rebates. Cardholders can triple their earnings and receive a 3% rebate on the purchase or lease of a new GM car, truck, or SUV. They can even acquire a 1% rebate on the purchase of any other new vehicle or a 1% cash rebate in increments of $100. There is no specific limit to the amount of cash rebates that could be earned. The 3% rebate that could be redeemed on GM vehicles has different redemption limits on the basis of the model of the vehicle. For GM Flexible Earnings Card, rebates expire in a period of seven years.

In case of purchases and balance transfers for those who qualify, the interest rates are competitive. However, there are minimum APR caps for all transactions. As a result, even if the Prime Rate falls considerably, the interest rates will not go below their minimum caps. The GM Flexible Earnings Card has lots of benefits for the cardholder: no annual fee, 0% introductory rate for purchases and balance transfers for the first twelve months. The card also offers certain usual benefits which include different kinds of online services, lost and stolen card reporting, and no liability for unauthorized transactions.

Nayanathara. S.

Hi-Tech Editorial Division