General Motors’ New Roads Are Paved with Incentives
General Motors Company (NYSE: GM) wants customers to “open the possibilities” their new credit card offers while flashing brand loyalty every time they use their plastic purchasing power. The card, advertised on their website, offers 5 percent earnings on the first $5,000 of purchases, and 2 percent thereafter.
There is no cap on earnings, and no limit on what portion of the earnings can be applied to a new GM vehicle, and they do no expire. No annual fee is associated with the card. GM is offering the card through Capital One Financial Corp. (NYSE: COF).
The previous Capital One card and points scheme was described by Automotive News. Four million people use the older card, their points expire, and earnings cannot surpass $500. That card is now closed, and only current customers can continue under its rewards program. Alternatively, they can apply for the new version.