GM BuyPower Card® Review
This is a
cashback credit card
issued by Capital One.
If you're wondering whether GM BuyPower Card® is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.
- Generous reward rate. You will get a
cashback rewards rate of up to 5%.
- 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 12 months.
- Competitive APRs. GM BuyPower Card® has a
that ranges from
up to 24.4%.
- No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your purchases, but you don't have to pay an annual fee for the privilege.
- No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
- Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, emergency support, extended warranty protection on purchases,
identity theft protection, purchase protection, travel accident insurance, travel assistance, and fraud protection.
- Good or better credit required. You will have low approval odds if your credit score is below 700.
Pros & Cons of GM BuyPower Card®
- 5% Earnings on first $5,000 in purchases every year, then 2% unlimited Earnings on purchases after that.
- Redeem Earnings to receive up to $250 in statement credits each year for in-dealership purchases of Certified Service, parts and accessories or GM extras. Earnings must be redeemed within 90 days of purchase.
- Redeem them whenever you’re ready to purchase or lease a new GM vehicle*, or toward care and certain GM extras for your current ride.
- Earn and redeem as much as you want toward a new GM vehicle. Plus, enjoy no annual fee.
- Lower than average purchase APRs.
- 0% APR on new purchases during the first 12 months.
- No annual fee.
- Multiple credit card perks.
- Offers auto rental collision damage waiver.
- Access to a concierge.
- Extended warranty on purchases.
- Free access to your credit score.
- Identity Theft Protection.
- Travel accident and travel assistance insurance.
- No foreign transaction fee.
- GM BuyPower Card® reports to multiple credit bureaus.
- Requires good to excellent credit.
- Does not offer a signup bonus.
GM BuyPower Card® FAQ
Does GM BuyPower Card® have a cash back or rewards program?
No, it does not offer a rewards program.
This is a cashback card. This means you earn a percentage of your purchases as cash back rewards.
You will receive 2% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $20 back in cash.
However, you can earn up to 5% for purchases in a bonus category.
What are the GM BuyPower Card® benefits?
It provides the following benefits:
- Free Credit Score
- Auto Rental Collision Damage Waiver
- Emergency Support
- Extended Warranty Protection
- Zero fraud liability
- Travel Accident Insurance
- Travel Assistance
- Reports to major credit bureaus
What are the relevant APRs for GM BuyPower Card®?
According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance.
It has lower than average regular APRs.
It has a
that ranges from
up to 24.4%.
The card has a
balance transfer APR
that ranges from
up to 24.4%.
It also has a
cash advance APR
Note that late payments are subject to an APR of 30.9% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.
Does GM BuyPower Card® have an intro APR offer on balance transfers?
No, it does not come with an intro APR offer for balance transfers.
Does GM BuyPower Card® have an intro APR offer on new purchases?
GM BuyPower Card® Purchase Intro Offer
|Purchase Intro APR Period
This card does offer an intro APR rate of 0% on qualified purchases
for a period of up to 12 months.
What are the fees for GM BuyPower Card®?
The following fees apply:
GM BuyPower Card® Fees
|Foreign Transaction Fee
|Returned Payment Fee
||up to $25
|Late Payment Fee
||up to $38
This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.
Does GM BuyPower Card® have a foreign transaction fee?
This card does not charge foreign transaction fees. If you are a frequent traveler, avoiding foreign transaction fees can save you hundreds of dollars in fees when you travel out of the country.
Does GM BuyPower Card® report your account activity to credit bureaus?
Yes, GM BuyPower Card® reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
How to apply for GM BuyPower Card®
- Visit the GM BuyPower Card® website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
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