The GM Card is it worth it

[1sweet11SS]

Originally Posted by CHEAPHP

I have points to sell if anyone is interested. Under old plan so no restrictions. Have used twice before for my Suburban and a car my sister bought. Never sold them though which is what I need to do this time. Have $3400 roughly and would like to get $2200 for them. Let me know if interested or if you have any experience to share on how this would work.

The person purchasing the GM vehicle needs have a credit card under your account (or at least have their name/personal information under your account) to utilize your points.

Just FYI...

[CHEAPHP]

Thank you. I added my sister for a day to help her. Was easy then, course same last name too.

[880]

Yeah it's a really good deal. The best part is the 'Top Off' feature.

I had $600 in rebates, and GM sent me an offer and topped it off to $2,000. Then I had another $1,000 GM rebate that I got from their website for a total $3,000.

[mrfnuts]

So, GM has sent me a letter saying I will earn 10% on all my purchases until the end of July.

I wonder if there's any point to taking them up on this... it's inevitable that within 6 months they'll send a 'top off' that will round me up to $2000 regardless of what my earnings balance is.

[tonyko1]

The "original" GM card had unlimited earnings. That ended quick as smart people, especially business people/owners charged everything on it.

So the card I have, now the "old card" from 1994 limits you to $500 a year for 7 yrs or $3500. The years roll on, so if you don't buy in the 7yrs, it doesn't fall off, just figures out where you are at as time goes on.

GM has tried to change my card several times, but I say no way Jose Cuervo. I have bought 3 cars from them, the last just this past May, a 2012 2SS Camaro Convertible. I had $2034 on the card and right before going to buy it, GM Card sent me a flyer that an additional $1500 would be on top of my earnings for certain models, which included my beloved SS. Funny, their was an asterik next to the Camaro on available vechicles and I thought "OH F"......but it excluded the ZL1 Camaro only, thank God.

Of course the nice finance lady tried to tell me with that savings I could get the GM protection plan..............I paid cash, thanks anyways, lady.

[mrfnuts]

Originally Posted by tonyko1

...

So the card I have, now the "old card" from 1994 limits you to $500 a year for 7 yrs or $3500. The years roll on, so if you don't buy in the 7yrs, it doesn't fall off, just figures out where you are at as time goes on.
...

Not sure if I understood what you meant, but, the old card still does expire earnings after 7 years. Since they do it on a 7 years to the month basis, you can theoretically have $4000 of earnings not counting other bonuses that might also be added to that total.

Great trick is if you haven't hit your earning cap for the year, or better yet not even earned anything for the year, and you are going to buy a GM... Go to the dealer near the end of your card statement cycle. Negotiate your best price and everything, shake hands, and put as large a deposit as the dealer will let you on the GM card (in my case $10,000 as there was no point going above that since no earnings would be accrued). Say you'll pick up the car in a couple of days, and have rest of money and stuff then. Wait for you statement to cycle and the fresh $500 of earnings will be available in your GM Earnings account. At that point apply your earnings to your vehicle purchase, and enjoy the extra earnings you wouldn't have otherwise had.