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.
Buying a GM vehicle means you don’t respect your money
How can they even do this? Is there no guarantee of rewards structure for a certain period after opening a card? Feels like a class action lawsuit
I have the current Marcus GM Rewards card. Got it in Sept 2022 a few months in anticipation of my purchase of a new 2023 Bolt EUV. Used the SUB points and spend points for the car purchase. Also received a $500 GM loyalty bonus for having the card. The 4% on all spend and the $100 yearly credit for electric utility payments made it worthwhile to use the card.
Now with only 3% earn and no mention of the $100 electric credit, that will be the end of my spend. I’ll keep the card since it is no annual fee, to keep GM loyalty, and for any GM purchases. But that is it.
Thought about applying for the new Barclay card before automatically getting converted from Marcus to Barclay to get the SUB, but the following makes it look like the SUB won’t be possible:
“INTRODUCTORY BONUS OFFER
Your credit offer may contain additional information about qualifying events, exclusions, and restrictions. That information can be found by logging in to your Card Account online and visiting the Rewards and Benefits section or calling the number on the back of your Card. These bonuses and/or incentives are intended for applicants who are not and have not previously been GM Rewards Mastercard cardmembers. You understand and agree that you may no longer be eligible for any bonuses and/or incentives in connection with a new GM Rewards Mastercard Card Account after this Card Account is opened. If you receive a bonus or incentive for which you are not eligible due to your status as a current or former GM Rewards Mastercard cardmember, we may revoke the bonus or incentive, or reduce your Points by the amount of the bonus or incentive or charge your Card Account for the fair value of the bonus or incentive, at our sole discretion.
“
Wow this card is horrible. They removed everything that was interesting about it (4x rewards on everyday spend, $100 annual gas or electric rebate, detailing credit, etc)
Who is the new card for? It has so much less value than either the Capital One or the Marcus version. Just a terrible product all around.
Can no longer redeem for SiriusXM.
Thanks, was about to ask. Are we still good through August?
Please talk me out of MS-ing heavily on this card (granted, for years) and buying a GM product at a pretty severe discount (~70%) off MSRP. How vigilant is Barclays re: about 20k of MS activity per month?
I used this only for the gas rebate. And it worked in Europe as well. With no FCF. Does the new version have foreign currency fees? Does it have the gas rebate?
F C F
“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.
I am about to lease a GM car that can be paid as a one pay around 8k. Is it worth it to get this card? 10x + 30k bonus = 110k points
What will you use the points for? I thought you got the 4% only in gm purchases or gm financial payments. If you make a one payment lease and get the points after, what will you use the points on?