punisherzx12r

I have asked the folks at capital one and the local dealer with both pointing towards the other. The 2014 Stingray Coupe and Convertible is listed on the GM card website. I wouldn't expect to see the Z06 listed as it isn't out yet but i need someone to give me a answer that will hold up a year from now.

If i change my company cards over to the GM card i will accumulate about 50,000 in points before the first Z is delivered...before i do all that i just need someone to tell me it will all be worth it.

Thanks for any help

william wyatt

No in the beginning most dealers will not honor it.If they do it will because they are $10k over sticker.

r1owner

I think the new card has no limits on earnings (5% for first 10K and 2% after that) and there are no exclusions (or limits) on the Corvette.

CGZO6

I think GM sets the limit on how much points may be redeemed on a new GM purchase. Currently it is 3000 on the Stingray (which is shocking that it is that high). Usually the higher redemtion allowances are for the higher priced vehicles and also last years vehicles usually have higher redemption allowances in order to help clear them off the lot.

Capitol One nor your dealer can say what the redemption allowance will be. Your dealer doesn't care as they get the price you negotiate, most from you and whatever from Capitol One. Gotta wait until GM decides, hopefully it will be more than 3K, but unlikely.

r1owner

The new card has no redemption allowance restrictions.

CGZO6

True, but GM does.

r1owner

^ Do you know where they are posted?

CGZO6

Deleted link.

I believe you have to be a cardholder and sign in to your account to see the redemption limits.

r1owner

Pretty sure those are for the old card.

I currently have the even OLDER card that has no redemption limits, but you can only earn 500 a year max. I called when I saw the new card and talked to someone at Capital One and they said the new card is unlimited earnings with no restrictions on redemption allowances.

Looking at their site according to the FAQ for the new card, this is what I see.

CGZO6

So you are saying that if you have 100K worth of GM card earnings, you can pay for the entire brand new 2015 Z06 with your GM card earnings.

Man, I wish you were correct.

r1owner

Based on the phone call I had with Capital One, that is correct. Only with this new card. Believe me, I asked my Credit Union if I could charge my house payment on my card and they said it would have to be a cash advance type thing otherwise I'd have the new card.

Also, if you transfer to the new card there is a limit to how much redemption dollars you can transfer. I want to say it's 500 but can't remember for sure.

CGZO6

Capitol One doesn't advertize what GM sets the redemption limits at. Why - If the limits were public information people would see that the redemption allowance on some vehicle is 0, nada, bupkiss. The current year corvette.

Capitol One has no redemption limit because it leads potential customers to believe that if you just use thier card enough you can get a free car.

When the customer finds out that GM has set a redemption limit, nobody gets pissed at Capitol one cuz it's GMs fault they actually have to pay real money for most of the car.

CGZO6

If this were true, somebody would have posted a thread that was titled: "Got my new Stingray for 70K under MSRP". Haven't see that one yet. Have seen several that stated they go to use 3K of points towards the purchase.

Again, CAPITOL ONE has no redemption limits (bait), GM does (switch).

r1owner

If Capital one is the one paying these redemption allowances, why would GM care one way or the other about how much the redemption allowance is? They still get their money either out of your pocket or Capital One's.

I'm not disagreeing with you, I'd like to get a direct answer to this question as well.

r1owner

Reading this right off a link from GM's site, it looks to me like there are no limits....

https://www.partnercardapply.com/Ter...aultTerms.html

However, there is the nebulous "Other exceptions may apply" under the How You May Redeem section.

Based on what I'm reading there, you can apply ALL earnings toward the vehicle.

CGZO6

From your link:

"Other Rules
To participate in this program, your GM Card Account must be open and in good standing. All Earnings and redemptions are subject to The GM Card Earnings Program Rules. These rules will be sent to you after you become a Cardmember.

GM reserves the right to change or terminate the Program and its rules or awards at any time.

Capital One, N.A. is the issuer of the GM Card. General Motors ("GM") is responsible for the operation and administration of the Earnings Program. "


and this is the "switch" in the bait and switch scam.

CGZO6

After giving it some thought, and referencing the link you provided. I now believe that if you redeem 3K of points Capitol One isn't actually paying GM 3K. GM owns the points program, GM decides how much you can redeem on a particular vehicle. If Capitol One were paying GM the entire redemption, GM probably wouldn't set any limits.

Dr Chill

Capital One basically gives a 2% rebate on all of their better cards, some come as a purchase eraser for previous travel related expenses, others as a straight up cash rebate. The Capital One GM Card gives you 5% of the first $5000 spent, then 2% afterward. That's a $150 additional benefit for the GM card over their other cards, but it limits, however, the rebate for use on GM vehicles only.

After all, does it really make a difference whether you save $3000 on a car or used the $3000 rebate to shave off your monthly credit card bills. Still the same in my mind.

DansVettes

I have a personal Capital One GM card and a Chase GM Business Card as well, I hope there are no limits as I am going for it on my Z06! If they limit me to $3K oh well, still a free $3k! I can use the rest on other company vehicles.

punisherzx12r

The card program i have right now gives me 2 percent cash back...my company charges so much on several employees cards it amounts to thousands of dollars a month. If a vendor doesn't give me a discount for a check i pay with the credit card and get 2 percent back. One of my cards gives 3 percent on fuel and since i am in the excavating and trucking business i purchase 20K plus a month.

there is no reason for them not to allow you to use the points because the better cards pay the same type rates as cash back. I need to change programs anyway because Bank of america is about to lower my cash back rate to 3 percent on fuel and 1 percent on everything else.

Right now the website says "anything in the showroom" ...reading deeper into it they list the stingray as an eligible car. My good friend actually owns a Chevy Dealer and he confirms there is no limit on points. What i worry about is a year from now they might exclude the Zo6....again i don't see why they would but i don't want to commit to the GM card now, rack up 50K in points, then not be able to use it.

The plan is to trade in my 2008 Z06, use 50K in points and come out of pocket ZERO