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.
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 .
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.
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.
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?
Current Marcus by Goldman Sachs GM cardholders were notified today that they’ll be transferred to the Barclays version on August 22. The rewards program also changed name as part of the transition, effective today.
Nerf
Marcus’ card had 0% on any purchase, which was decent for a business card. This is a substantial downgrade.
This is the personal card which is still a downgrade compared to the previous personal card from goldman.
The personal card also had 0% apr.