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My GM Rewards Card Review – Forbes Advisor


My GM Rewards™ Card vs. Toyota Rewards Visa®*

For those who prefer Toyota (and for industry comparison purposes, as the car you own is likely to be the deciding factor here), the Toyota Rewards Visa®* Earn 5 points per dollar spent at Toyota dealerships, 2 points per dollar spent on gas, 2 points per dollar spent on dining and entertainment purchases, and 1 point per dollar spent everywhere else. Redemption options include the purchase or lease of a Toyota vehicle at participating dealerships, cash back as a statement credit (every 2,500 points earns you $25), and rewards as part of of the Toyota program. catalog website. When redeemed at a Toyota dealership, points are worth $0.01 per dollar.

Greater flexibility in redemption options is a big win for the Toyota Rewards Visa®*, but My GMMC Rewards Card rewards earn rates are supercharged. With only select Visa convenience benefits, including curbside shipping and fraud protections, the Toyota Rewards Visa®*The benefits of cannot compete. While we’re not convinced this would necessarily happen every time on a race track with the co-brands’ actual vehicles, the My GM Rewards Card™ smokes the Toyota Rewards Visa®* on the credit card trail.

My GM Rewards™ Card vs. DrivePlus℠ Mastercard®*

The DrivePlus℠ Mastercard®* earn 5% cash back on purchases at the dealership, 2% cash back on gas and travel purchases, and 1% cash back spent everywhere else.

Rewards can be redeemed for FCA parts and service at participating FCA US dealerships (i.e. Jeep, Chrysler, Dodge, Ram and Mopar) or to purchase or lease a Chrysler, Dodge, Jeep, Ram vehicle or new or used FIAT at participating FCA US dealerships. as well as for merchandise, gift cards, travel, or cash back in the form of statement credit or check/deposit.

With a wide variety of redemption options, the DrivePlus℠ Mastercard®* would be fierce competition for the My GM Rewards™ card if the credit card you have determined the car you drive. As credit card gurus, we’d like to think it does, but our colleagues at Forbes Wheels seem to be pretty adamant that it doesn’t work that way.

If card benefits were the last lap of this race, the DrivePlus℠ Mastercard®* would be fast, but crash soon after: the card offers a $1,000 bonus certificate for a new FCA US vehicle for spending $7,500 in the first year and a $100 credit for spending $100 in FCA US purchases during the first billing cycle after account opening, but no ongoing benefits beyond certain convenience benefits, including zero fraud liability and access to the FICO score at no additional cost.

My GM Rewards™ Card vs. BMW Precision Card*

The BMW precision card* earns 5 points per dollar spent on eligible BMW purchases, 3 points per dollar spent on eligible purchases at gas stations, 2 points per dollar spent on eligible restaurant purchases, and 1.5 points per dollar spent on all others purchases. Redemptions for Cash Back, Merchandise and Travel are done at $0.01 per point, but when redeemed for a BMW Rewards Card, the rewards are worth 25% more. BMW Rewards Cards can be redeemed for BMW Service, Accessories, End of Lease Charges and more.

While its reward rate may seem attractive, the card’s $99 annual fee is barely offset by the dealership’s $70 annual credit. With a handful of additional Mastercard World Elite benefits, we think the GM Rewards Card might actually pass the BMW Precision Card on the credit card highway. You don’t see this every day.

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