My GM Rewards is the most comprehensive Automotive Loyalty program for members. Those rewards, however, are only valuable toward GM-specific costs. Up to $1,000. You can optionally include the value of any additional credit card perks, as long as you can give a monetary value to those perks. Applicants can see if they are approved for the My GM Rewards Card without impacting their credit score. MORE: NerdWallet's best cash back credit cards. For example, you could consider adding a, Blue Cash Preferred Card from American Express, to your mix to earn cash back on some of your purchases. You can redeem points for a variety of plans and lengths of time. If youre calculating your rewards for a period of less than one year, divide your annual fee by the number of months youre using to calculate your rewards. What are Loyalty Points Worth To redeem, log in to yourGMC My Account and go to your MyGMC Rewards dashboard. NerdWallet's ratings are determined by our editorial team. On Certified Service, Accessories, GM Genuine Parts and ACDelco Parts and GM Protection Plan As with all store or brand-specific points, the biggest problem is your inability to shop around. It may be difficult to save enough money to buy a car on your own. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. View your points balance and redemption options; each reward in the Redeem section shows step-by-step instructions for redeeming points. MORE: Auto repairs: Dealerships vs. independent mechanics. A Beginners Guide to Travel Points Credit Cards, Chase Ultimate Rewards Program: Your Complete Guide, Rule of Thumb for Redeeming Credit Card Points, How Credit Card Points Can Boost Your Bank Account Balance, How to Travel for Free With Credit Card Rewards, When To Keep a Rewards Credit Card and When To Move On, How To Get Cash From a Credit Card Without a Cash Advance, How to Plan Your Travel Rewards Card Strategy, How to Redeem Credit Card Reward Points for Experiences, the value of the rewards youve accumulated, switch to a different rewards credit card, Truth in Lending Act 1026.7 Periodic Statement. "Chase Sapphire Reserve with Ultimate Rewards Program Agreement." However, if you're in the market for a used GM vehicle, you can only use up to $1,000 in points toward that purchase per calendar year. LaToya Irby is a credit expert who has been covering credit and debt management for The Balance for more than a dozen years. No activation required. WebHas anyone used gm points before? 3Cardmembers can redeem up to $1,000 in points (100,000 points= $1,000 value when redeemed at GM) per calendar year toward eligible Certified Pre-Owned GM vehicles. To get the maximum value from your credit card rewards, you should earn more rewards than you pay in feesincluding a late fee or transaction-based fee like a balance transfer or cash-advance fee. . Contact a dedicated Member Support Specialist here. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. The exact ammount depends on which BofA rewards card you have and how you redeem the points. Disclaimer: NerdWallet strives to keep its information accurate and up to date.