Last updated on September 8th, 2023
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My Chevy Rewards Card
My Chevy Rewards Card
- 20.24% to 29.99% variable purchase APR based on creditworthiness. Rates as of 4/1/2023 Regular Purchase APR
- 29.99% Cash Advance APR
- 0% for 12 months Intro Purchase APR
At a Glance
The My Chevy Rewards Card is a World Elite Mastercard and auto rewards credit card from General Motors and Marcus by Goldman Sachs. The card offers a lucrative sign-up bonus, an introductory 0% APR promotion, up to 7X points per $1 on eligible purchases, and no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 15,000 bonus points after you spend $1,000 in your first three months - that's $150 in value when you redeem with GM
- Earn 4x points for every $1 spent everywhere, and receive unlimited 7x total points for every $1 spent with GM. Points do't expire as long as your account remains open
- Points add up fast! For example, spending $12K per year on everyday purchases will earn 48,000 pts which is $480 in value toward future redemptions with GM
- Looking for a new GM vehicle? Redeem unlimited points towards the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac
- Already own or lease a GM vehicle? Use your points toward your loan or lease payment with GM Financial, Certified Service, eligible Accessories and more
- No annual fee, no foreign transaction fees, or cash advance fees. Late fees may apply
- 0% intro APR on purchases for the first 12 months, then a variable APR of 19.74% to 29.74%
- See if you're approved with no impact to your credit score. Accepting a card after your application is approved will result in a hard inquiry, which may impact your credit score
- Terms Apply. Subject to credit approval
- Intro Purchase APR: 0% for 12 months
- Regular Purchase APR: 20.24% to 29.99% variable purchase APR based on creditworthiness. Rates as of 4/1/2023
- Cash Advance APR: 29.99%
- Cash Advance Transaction Fee: $0
- Foreign Transaction Fee: $0
- Late Payment Penalty Fee: Up to $40
- You're planning on purchasing a Chevrolet, Buick, GMC, or Cadillac for your next vehicle
- You anticipate spending at least $1,000 within your first 3 months as a cardmember
- You have an excellent credit score
- You do not want to pay annual fees or foreign transaction fees
My Chevy Rewards Card Review
Earn Up to 7X Total Points on Purchases
The My Chevy Rewards Mastercard offers up to 7X total points per dollar on GM purchases, including service, parts, and accessories purchased at participating GM dealerships and service centers. That 7X point tally is impressive and provides excellent value if you are planning on getting a new GM vehicle via purchase or lease.
The Chevy credit card also earns 4X points for every dollar spent on eligible purchases outside of GM. That earning rate is exceptional – but only if you plan to use the card and spend towards the ultimate prize – a new GM vehicle, like the new Corvette. There’s no limit to how much you can earn and redeem toward an eligible, new Chevy vehicle.
Estimated Points Breakdown
Here is a breakdown of the estimated costs of a new 2023 Chevrolet Corvette Stingray at the $65,595 manufacturer’s recommended price (MSRP). This breakdown shows how much you can expect to earn when using your My Chevy Rewards Card to purchase the Stingray and the points totals. Please note that some rates and fees, including insurance premiums, are based on Florida rates.
- $65,595 new vehicle MSRP (1X points per $5 of the MSRP) = 13,119 points via My GM Rewards loyalty program, a $131.12 cash value
- $755 on auto Insurance (4X points) using the card = 3,020 points, a $30.20 cash value
- $500 on vehicle maintenance (7X points) using the card = 3,500 points, a $35.00 cash value
- $3,935 in taxes and fees (4X points) = 15,740 points, a $157.40 cash value
- GM Protection Plan = 2,500 points, a $25 cash value
- $300 OnStar Essentials plan (3X points) = 900 points, a $9 cash value
- Total: 38,779 points, a $387.79 cash value
Bonus Points Offer
After successfully applying for the card, new My Chevy Rewards Cardholders earn a 15,000-point welcome bonus after making at least $1,000 in purchases on the card within 90 days of opening the account. Judging value with auto rewards credit cards can be difficult, given the significantly expensive award option many consumers select (a new car). Still, 10,000 points provide roughly the equivalent of 10% cash back, so it offers some solid value.
How to Redeem Points in the My GM Rewards Program
Redeeming points with My Chevy Rewards is straightforward. Cardholders can redeem unlimited points toward an eligible, new GM vehicle purchase or lease. Cardholders also have the option of selecting a pre-owned GM vehicle, with the ability to redeem up to $1,000 toward the purchase of a Chevrolet, Buick, GMC, or Cadillac Certified Pre-Owned vehicle.
Other redemption options include points towards paid GM Certified Service, GM Genuine Parts and ACDelco Parts, eligible accessories, OnStar and Connected Services plans, GM Financial and Protection Plans, and SiriusXM® subscriptions. Gold and Platinum rewards members can also redeem points towards gift cards from various eligible merchants, stores, restaurants, and more, at a 1% redemption rate.
|How to Unlock a New Tier||Silver||Gold||Platinum|
|3-year total spend on a new, eligible GM vehicle||$0 to $44,999||$45,000 to $109,999||$110,000+|
|Combined spend on paid, eligible GM service, eligible accessories or parts, and OnStar and Connected Service Plans||$0 to $1,499||$1,500 to $2,499||$2,500+|
|Yearly spend on My GM Rewards Card||N/A||Automatic Gold Tier||$15,000+|
|Points expiration||Account is Closed; 5 Years of Inactivity||Never Expire||Never Expire|
You can also earn a $100 statement credit each calendar year after spending $1,500 on fuel. Or, as an alternative if you have an electric vehicle, you can instead choose a $100 statement credit when you use this card to pay 6 electrical bills in a calendar year.
Cardholders also get a $50 allowance when using their Chevrolet Rewards Card for vehicle detailing at a participating GM dealer every calendar year.
0% Intro APR on Purchases
Rewards cards that feature introductory 0% APR periods on purchases is not uncommon; in fact, it is a great way for card issuers to entice new accounts to spend quickly on their new card and achieve lofty spending goals. Few auto rewards cards come with any promotional APR, however, with the exception of special financing on parts and servicing.
The My Chevy Rewards card is different in that it provides a twelve-month, 0% introductory annual percentage rate on purchases. Once that initial period finishes, the APR returns to its standard rate (which you can see above). Nevertheless, it is still very competitive when compared to other similarly positioned rewards cards.
Other Card Features
The My Chevrolet Rewards Card also benefits from Mastercard World Elite benefits. Mastercard World Elite® is the premier Mastercard product, offering the pinnacle of protections and perks, including:
|Zero Liability Protection||Airport Concierge||Cell Phone Protection|
|Mastercard Global Services||Priceless Experiences||Lyft Credits|
|ID Theft Protection||Priceless Golf||DoorDash Offers|
|Mastercard Travel Services||ShopRunner Membership||Hello Fresh Savings|
|Mastercard Hotel Stay Guarantee||Fandango Savings|
Auto Rewards Card Comparisons
Not sure if the My Chevy Rewards family of credit cards is right for you? Here’s how they compare to two competitors:
My Chevy Rewards Card™
Toyota Rewards Visa®
|Earn up to 7X points on GM purchases, including service, parts, and accessories at participating dealerships, and 4X points on eligible purchases outside of GM||Earn 5% back on FCA U.S. purchases, 2% back on gas and travel purchases, and 1% back on all other purchases||Earn 3X points at Toyota dealerships, 2X on gas, dining, and entertainment, and 1X on all other purchases|
|15,000 points and 0% intro APR offer||$100 back after spending $1,000 in first 90 days||N/A|
FAQs About Chevy, GM, and Goldman Sachs
- Goldman Sachs purchased the GM credit card portfolio from Capital One in a deal worth over $2 billion.
- No. There is no limit on the total number of rewards a My GM Rewards member can redeem.
- No. GM points never expire as long as the credit cardholder’s account is open and active. Non-GM credit cardholders points may expire, depending on their loyalty sttaus.
- Managing your My GM Rewards account is easy. You can manage your GM Financial Account through the GM Financial App or online by going to www.gmfinancial.com and signing in to My Account. From there, you can make a payment, access billing statements, update your profile and communication preferences, and even message with Customer Experience agents.
- Marcus by Goldman Sachs can pull from any of the three major credit bureaus (Experian, Equifax, and TransUnion), but most datapoints point to TransUnion being the most commonly used scoring model.
Should You Apply for the Chevy Rewards World Elite Mastercard?
While the 7X total points per dollar can turn heads, is the My Chevy Rewards Mastercard worth the hype? The answer may be a strong yes if you are a loyal GM customer. GM customers can benefit from the card’s high rewards-earning rate and GM-focused redemption options. Still, non-GM fanatics (or even those merely considering a GMC, Chevy, Buick, or other GM brand vehicle) might find the card thin on potential.