The GM Business™ MasterCard® is a credit card designed for business owners who have a fleet of General Motors vehicles. This card offers solid earning rates on GM purchases as well as at gas stations, restaurants, and office supply stores. However, the rewards earned with this card can only be redeemed towards the purchase or lease of GM vehicles, making it a limited option for those who do not regularly spend on GM products.
With no annual fee and a recommended credit score of 670, the GM Business Card offers a sign-up bonus of $750 in bonus earnings when you spend $5,000 in your first five months from account opening. While this is a decent return for a card with no annual fee, the limited redemption options may not be very helpful for those who do not spend a lot at GM.
In terms of benefits, the GM Business Card offers standard protections such as rental insurance, identity theft protection, and zero liability for unauthorized purchases. Cardholders also have access to personalized assistance with GM’s Business Assistant Concierge, as well as no foreign transaction fees or cash advance fees. However, this card lacks the more lavish perks offered by some of its competitors, such as annual credits or complimentary memberships.
When it comes to earning rewards, the GM Business Card offers 5% back on GM dealership parts or service, 3% back at gas stations, restaurants, and office supply stores, and 1% back on everything else. While these are solid earning rates for those who regularly spend on GM products, they may not be as attractive for those who do not have a fleet of GM vehicles.
One of the biggest drawbacks of the GM Business Card is its limited redemption options. Rewards earned with this card can only be used towards the purchase or lease of eligible GM vehicles, such as Chevrolet, Buick, GMC, or Cadillac. This makes the card only viable for businesses with multiple GM vehicles or those in the market for GM vehicles. For those who do not fall into these categories, there are plenty of other business cards on the market that offer more flexible redemption options.
Overall, the GM Business Card can be a good option for businesses looking to earn rewards towards a GM purchase in the future. However, for most business owners, a more general business card that offers cash back or travel rewards may provide more value. It is important to consider your spending habits and redemption preferences before choosing a credit card that best suits your business needs.