Rules for Redeeming a GM Card

You can save up to $3,000 on the cost of a new Chevrolet Corvette.

You can save up to $3,000 on the cost of a new Chevrolet Corvette.

The GM Card is a GM-branded MasterCard available from HSBC that allows you to accumulate points, which are called "earnings," towards the purchase price of a new GM vehicle. Whenever you use this credit card to make most types of purchases, 5 percent of the value is added to your accumulated earnings.

Earning Points

Purchases you make with your GM Card are eligible to earn GM earnings of 5 percent of the net purchase price. There is no limit to how many earning you can accumulate within the year. Additional earnings can also be accumulated through promotions like those on the GM Card Bonus Shop. Earnings are not eligible for cash advances on your card, automated teller machine withdrawals, balance transfers, convenience checks or credit card checks. Other cash-like transactions are also ineligible, including money orders, postage stamps, savings bonds or casino chips. Finance charges, credit card fees and service charges are not eligible for earnings.

Eligible Vehicles

Accumulated points can be redeemed with the retail purchase or lease of more than 30 different models of new GM cars, trucks and SUVs, including Chevrolet, Buick, GMC and Cadillacs. Vehicle models are subject to a redemption allowance, which is the maximum amount of earnings you can use on the vehicle. For example, at the time of publication, the Chevrolet Cruze and Buick Verano have a maximum redemption allowance of $1,000. The Chevrolet Silverado and Cadillac CTS are limited to $1,500. The GMC Yukon is limited to $2,000. The Chevrolet Corvette and Cadillac Escalade are limited to $3,000. The Redemption Allowance for each model is determined at the beginning of the model year and can be found on the gmcard.com website.

Expiry of Earnings

Earnings on a GM Card expire after seven years. Earnings are recorded monthly and expire seven years after the date of that month's billing cycle. This means that once you have had your card for eight years, earnings you accumulated in the very first month of having your card will be removed. In addition to this expiration period, your GM Card account must be active and in good standing before you can use your earnings.

Redeeming Earnings

You can redeem the earnings on your GM Card towards the purchase or lease price of a new GM vehicle when you purchase the vehicle at any Chevrolet, Buick, GMC or Cadillac dealer. Simply tell the salesperson you want to use your GM Card earnings after you have negotiated a price for the vehicle. Points may be redeemed in addition to other discounts with some exceptions. These exceptions include the GM Credit Union Member Discount, the GM Dealership Employee Purchase Program, the GM Enhanced Dealership Employee Purchase Program and the GM Supplier Discount Program.

About the Author

A published author and professional speaker, David Weedmark has advised businesses and governments on technology, media and marketing for more than 20 years. He has taught computer science at Algonquin College, has started three successful businesses, and has written hundreds of articles for newspapers and magazines throughout Canada and the United States.

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