The Barclays GM Rewards Mastercard is now live. Let’s take a brief look:
- 30,000 bonus points after $1,000 in spend within the first 90 days
- No annual fee
- Card earns at the following rates:
- 7x points on GM purchases
- 3x points on all other purchases
- 0% introductory APR for 9 months on GM purchases more than $499 (within 30 days of account opening)
- 0% introductory APR for 6 months on GM purchases more than $499 (after 30 days of account opening)
Our Verdict
Intriguing card if you’re going to make a GM purchase. Points are worth 1¢ each towards a vehicle and discount applies after negotiation, you’d also get the 6 month interest free period (or 9 months depending on when you opened). Unfortunately this isn’t as good as the GM card that earned 4x points on all purchases. Personally don’t think it’s worth it compared to a standard card that earns at a high rate on everyday purchases as you’re locked into GM.
I used this only for the gas rebate. And it worked in Europe as well. With no DCF. Does the new version have foreign currency fees? Does it have the gas rebate?
“locked into a GM product”
yup, a now pointless card. Happens a gm card was my first card, sometime deep into last century…. Bought (a) Montana with it…. (lol, if only) Long ago, extended family only bought GM, father-in-law was a “Mr. Goodwrench,” Now, why? (Kept the card simply for credit rating…. never used it for over a decade) and never, ever again buying a GM anything.
Going from 4% to 3% is a hit for sure. Losing the $100 credit annually after $1,500 in gas station spend stings a bit too. I’ll keep using mine, almost hit the $5,000 mark in rewards. I’ve rarely used the card for anything MS-adjacent, but I’ll probably start just to make the juice worth the squeeze until I finally buy a GM product. After that? Sock drawer.
The hack here is finding a GM dealer that will let you buy a vehicle with this card even if they charge 3%. That’s a 7% profit right there .
oh sure, by golly….. and once a gm dealer realizes you’re to use this card, your deals just got worse (for a car you won’t really want)
if you sign up at dealership you usually get $500 discount
They also give you instant card number
I still have the original GM card which earns 5% on all purchases, so this is a big downgrade for me. Likely won’t use it much anymore after Aug 22.
yup, had that too….. for decades. The miles & points game came along — presenting infinitely better opportunity for earning points/miles that we’d actually use, regularly. A GM? lol
Anyone have any dp on how barclays handles transferred accounts from ppl they permabanned?
There was a footnote on the mailer that said in some cases accounts may not transfer to Barclays and those people will be notified.
Went from 4% to 3% on everyday spend so this is a big downgrade. Original Household GM card was 5%. I’ll be moving my spend to Robinhood except for tax payments. There is nothing better about this card than the Marcus card.
But the original Household Bank card points expired. I never wound up getting anything for them.
Since the transition for existing accounts is apparently not until August 22nd, any chance we could get the Barclay sign up right now?
Did they also remove that detailing credit the other card had? And the $100 gas rebate?
I looked around on their site a bit and there’s no mention. Fingers crossed, that alone made it a 6.7% cash back card for gas station purchases, even without including the 4%…