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BuyPower Business Card™

BuyPower Business Card™

Earn up to $2,000 in Bonus Earnings

BuyPower Business Card™
  • Regular Purchase APR 16.99% variable based on the Prime Rate
  • Cash Advance APR 24.9% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent
  • Intro Purchase APR 0% for the first 12 months from account opening
  • Processing Network Mastercard
Best Benefits
  • Spend $5,000 within 3 months for $500 in bonus earnings
  • Spend $50,000 within 6 months for an additional $1,500 bonus earnings
  • 5% back GM parts, accessories and service at authorized GM Dealers
  • 3% back at gas stations, restaurants and office supply stores
  • 1% back on all other purchases
  • Add employee cards at no cost
  • No limit on earnings, points never expire
  • No annual fee or foreign transaction fee
Rates & Fees
  • Intro Purchase APR: 0% for the first 12 months from account opening
  • Regular Purchase APR: 16.99% variable based on the Prime Rate
  • Cash Advance APR: 24.9% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $38
  • Return Payment Penalty Fee: Up to $25

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At a Glance

The BuyPower Business Card™ is a highly specific auto credit card whose earnings can only be applied towards the purchase or lease of a GM vehicle from a dealership. Earn up to 5% with bonus categories for GM purchases, gas, dining, and office supplies.  

Ideal for Those Who:

  • Own a business that requires a fleet of vehicles -VAGUE 
  • Are looking to expand their current business fleet 
  • Have a business association membership to ABCAGC, or NAHB of America 
  • Will need company cards for your employees 
  • Are already enrolled in My GM Rewards
  • Will spend $50,000 within the first 6 months 

BuyPower Business Card™ Review

Saving for the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle is easy (and free) with the no annual fee GM BuyPower Business Card from Capital One. Ideal for small to mid-sized business owners who are looking to start or expand their fleet of company vehicles, this highly specific card can take a significant chunk out of the cost of purchasing a new vehicle.

Although the bonus categories are versatile enough to be used for more than just business purchases, the question then becomes whether you should use this as your primary credit card will depend on whether you’re comfortable with sinking your rewards for the down payment of a GM vehicle.

The BuyPower Business Card does not any sort of financial assistance for purchases such as 0% APR (even for purchasing GM parts or a vehicle) and balance transfers are not available through this card. As is the case with most other cobranded cards from Capital One, applicants will need to have excellent credit.

A Signup Bonus with Steep Spending Requirements 

New cardholders can earn a decent bonus within the first months of card ownership if they are willing to spend some major cash to do so.

Earning first bonus should be painless; a value of $500 requires spending $5,000 within the first 3 months – the average business should have little problem meeting this. The second bonus opportunity, however, is the kicker. In order to earn a $1,500 bonus, you must spend $50,000 within 6 months.

The amount needed to earn that $1,500 bonus might prove to be too much for smaller-sized businesses and put this offer out of reach. Fortunately, business owners don’t need to feel pressured to ramp up their spending in order to take advantage of the business, spending $50,000 on anything in the 3% categories will earn the exact same reward – and you can do so at your own pace.

If you’re going to try and qualify for the BuyPower Business’ full $2,000 signup bonus, you should have a several large purchases in the works before applying for this card.

Earning GM Rewards  

Having one singular redemption method paired with such wide accompanying bonus categories makes this card is a powerhouse for accumulating savings towards shiny new set of wheels. Thankfully, this card has far more versatility when it comes to earning rewards than redeeming them.

Offering bonuses for purchases on gas, dining, office supplies, and of course, GM products, the business version of the BuyPower card has category bonuses that are on on-par with those of more general use reward card.

  • 5% back on parts, service and accessories at authorized GM Dealers 
  • 3% back at gas stations, restaurants and office supply stores 
  • 1% back on all other purchases 

Unfortunately, the “business” part of this credit card leaves much to be desired as it only awards companies for making purchases at dedicated office supply stores – which can be limiting if your business doesn’t operate out of a traditional office setting. 

Redeeming GM Rewards 

The single redemption option available for BuyPower Business cardholders is for the lease or purchase of a GM vehicle (no more than 30 at a time). To do so, find a participating GM dealer near and your points will be deducted once used in person.

Earnings never expire and there are no limits on how much you can earn – great news if you have BuyPower Business employee cards in use (which also have earning power).

This feature is unarguably useful if company vehicles need to be replaced or purchased on a regular basis, but if you’re not sure if you’ll ever purchase a GM vehicle more than a few times, you could find yourself stuck with thousands of unusable points. 

Business owners looking for discounts on GM dealership service and maintenance should consider the much more flexible consumer BuyPower Card or register with the My GM Rewards program (which is separate from all BuyPower earnings and whose cannot be combined).

Should You Apply for the GM BuyPower Business Card? 

Since this card is solely focused on helping pay for the acquisition of a new vehicle, this card should only be used by companies the purchase new vehicles with any sort of regularity. Otherwise, cardholders could find their earnings stuck in a credit card program with no opportunities to cash them out. 

The signup bonuses are a nice touch, but not worth going out of your way to achieve. Still, be strategic with the time that you apply for this card in order to increase your likelihood of meeting the high spending requirements.

Overall, there is no shortage of similarly structured rewards cards that provide equally competitive returns on dining and gas (the categories that will likely do the bulk of the earning) and provide much more flexibility in their redemption options. The main reason to choose the BuyPower Business Card™ instead of a cash back alternative would be because you are undoubtedly certain that you will be purchasing a GM vehicle in the near future and want to make a dent in the down payment.