I've done some research on rebate cards and I must say at 5% the GM master card is one of the best.
My problem is the "new" redemption allowace limits. For example, I could only redeem $2,000 on a 2002 Camaro, or $1,750 on a 2003 suburban.
That's good, but it's not all that compelling. I'll earn 2K on the card every 2-3 years and I'm not able to buy a new car that often. Maybe I should keep getting frequent flyer miles? Seems like a lot of money will get tied up on the card and I'm locked into GM. Who says I'm gonna like the 2005 Camaro? If I could afford a new vette, I would not really need to save a 1,000 on the purchase.
-Ryan Posted by Hawkeye (Member # 88) on :
I've been told GM is changing the game again.
July 31, 2003 is the end of the 5%. It will go to 1% after that with a $2,000 cap.
I've used several thousand dollars of GM points on my 98 SS and my 99 Suburban. Combine that with employee price and 1.9% financing I got pretty sweet deals. No more. Posted by MM (Member # 1247) on :
Not sure about the 1% part.... I thought that was only for GM employees and family members not the general public. At any rate it was nice as I got some money off my last two vehicles but being that they are changing the program for me I most likely will switch......
Posted by poSSum (Member # 119) on :
I have the GM Card and have benefitted from it a number of times. The part I don't like is the $500 annual earning limit. Takes me about 4 months to earn that.
I also have a CitiBank Drivers Edge Platinum Card, no annual fee, all the usual platinum card benefits and 2% rebate on any vehicle acquisition ... new or used ... private or dealer ... all you need for documentation is a bill of sale and vehicle registration. The annual earnings limit is $1,000, but of course one would have to spend $50,000 to earn all of it The other downside to this one is that you pay the money up front, and send in a request for the rebate. I haven't cashed anything on this one yet so I can't vouch for how well it works.
Posted by OLGZRSS (Member # 662) on :
I used $3,000 from my GM Card when I bought my '99 SS. The card, however, is changing to a "competitive" 1%. Current card holders have until August, 2003, to use the accumulated money. If you change to the new card now, accumulated funds are reduced to the 1%. The card was an excellent deal, but when GM started paying off, the cost was too great.
Posted by DanPazich (Member # 1352) on :
I have had the GM card for about 3 years and has benefited my a great deal when I bought my SS last august. The 5% was a huge savings. This 1% is the first time I heard. I'm sure they will lose a lot of customers. I'm not too worried since I'll be hanging on to my SS for quite a while and don't have the money to buy a second car any time soon.
Posted by Xsta Z 28 (Member # 740) on :
I have BOTH GM cards. Cannot beat the 5% back toward a new GM car!!!
Pros & Cons:
Both Cards - 5% earnings Old Card - Unlimited redemption towards new car Old Card - $500 earnings annually Old Card - Can't get it anymore New Card - Limited redemption towards car Both Cards - Dispute Department S%^KS!!! BIGTIME!! Posted by RHT (Member # 902) on :
Great comments everyone! 5% is great but without definate plans to buy a new car/truck in the next couple of years and the card changes, I think I'm out for now.
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