GM Points Explanation
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Melting Slicks
Joined: Nov 2017
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GM Points Explanation
Could someone help clarify what the deal is when points are accumulated on the latest GM card please. Past and current information would be helpful.
I have the new card and I thought the points equaled to a dollar a point today I found out it's .10 a point my 8886 points equal to $88.86 I'm sure my guy is telling me straight but
did I hear this dollar per point correctly or was I just mixed up? The information says the points can be used for practically anything even buying a car but sounds like you must accumulate 10s of thousands of points to purchase a car. Thanks folks
I have the new card and I thought the points equaled to a dollar a point today I found out it's .10 a point my 8886 points equal to $88.86 I'm sure my guy is telling me straight but
did I hear this dollar per point correctly or was I just mixed up? The information says the points can be used for practically anything even buying a car but sounds like you must accumulate 10s of thousands of points to purchase a car. Thanks folks
Safety Car
Joined: Nov 2000
Posts: 4,033
Likes: 2,600
From: Northern VA, USA
The NEW card is you earn 3 points per dollar spent on everything (except on GM purchases where it is 7 points per dollar spend.). Redemption is actually $.01 per point -- which does equate to your $88.86 if you have 8,886 points.
There were many different versions of old cards, so hard to say which you may have had before, but your dollars or points should have converted appropriately.
So, in order to get $1000 off of a new car, you need to spend $33,333 on the card (assuming none of your spend is on GM stuff). In essence it's a 3% cash back card (only you don't get cash, you have to buy GM stuff).
Your 8,886 point should be from $2,962 of spend (assuming no GM purchases).
There were many different versions of old cards, so hard to say which you may have had before, but your dollars or points should have converted appropriately.
So, in order to get $1000 off of a new car, you need to spend $33,333 on the card (assuming none of your spend is on GM stuff). In essence it's a 3% cash back card (only you don't get cash, you have to buy GM stuff).
Your 8,886 point should be from $2,962 of spend (assuming no GM purchases).
Melting Slicks
Joined: Jun 2005
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From: Rock Hill SC (Charlotte NC Area)
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What your guy told you is correct based on my understanding of the new "points" system. They used to show the rewards as a straight dollar amount on all the previous iterations of the GM Card up until Barclays took it over and they switched to this new points-based system and opened it up to more than just applying to vehicle purchases.
Le Mans Master
Joined: Jul 1999
Posts: 5,044
Likes: 296
From: Cincinnati Ohio
Take your points and divide by 100. That is your redemption amount.
With the new card there are supposedly NO LIMITS to the amount you are allowed to redeem, and what vehicles it can be used towards.
Even can apply to a Certified Pre Owned (CPO) car as well.
With the new card there are supposedly NO LIMITS to the amount you are allowed to redeem, and what vehicles it can be used towards.
Even can apply to a Certified Pre Owned (CPO) car as well.
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Le Mans Master
Joined: Jul 1999
Posts: 5,044
Likes: 296
From: Cincinnati Ohio
Safety Car
Joined: Nov 2000
Posts: 4,033
Likes: 2,600
From: Northern VA, USA