Rewards Plan
Welcome Bonus
Credit Rating
Intro APR
Annual Fee
APR
- No Foreign Transaction Fee
- Statement Credit
- No Cash Back
- Restrictive Redemption Program
Rewards Plan
Welcome Bonus
Intro APR
PROS
- No Foreign Transaction Fee
- Statement Credit
CONS
- No Cash Back
- Restrictive Redemption Program
APR
20.24% to 29.99% variable APR
Annual Fee
$0
Balance Transfer Fee
5% or $5 (the greater)
Credit Requirements
Good – Excellent Credit
As its name suggests, the My GM Rewards card by Marcus is a co branded card that is ideal for GM brand loyalists. Despite having no annual fee, this card offers 4 points for every dollar you spend on purchases and 7 points per dollar on GM products, parts and services.
The My GM Rewards card also welcomes new cardholders with 15,000 bonus points when you spend $1,000 within your first 3 months of account opening. There is also an introductory 0% APR for the first 12 months on purchases and balance transfers, which makes it a good choice for those carrying a balance on another card.
However, while this card has a very generous rewards program, it does have a highly restrictive redemption program. So, unless you are a keen GM customer, you’re not likely to get a great deal of benefit from this card.
What can I redeem my gm card points for?
- Redeem towards a new GM vehicle or lease with no limit on redemptions
- Redeem for a Certified Pre-Owned vehicle purchase (up to $1,000 in annual rewards value).
- Redeem for gift cards to the value of up to $250 annually.
- Redeem for dealership services and GM ecommerce purchases at participating dealerships
- Redeem for GM Purchases or Leases
- No Foreign Transaction Fee
- Gift Card Options
- Vehicle Detailing Allowance
- Food Delivery
- ShopRunner Membership
- Lyft Credit
- Rewards Don’t Expire
- Statement Credit for Fuel or Electric Bills
- 0% APR on Purchases and Balance Transfers
- Fandango Rewards
- Mastercard Airport Concierge
- Restrictive Redemption Program
- Low Point Value
- No Cash Back
- Hefty Late Penalty Fee
What is the initial credit limit?
Marcus does not officially state a minimum initial credit limit for the My GM Rewards card.
However, from customer reviews, you can expect a minimum credit limit of $3,000, with some users enjoying an initial credit limit of tens of thousands of dollars. Once your account is opened, you should be able to request a credit limit increase after at least 60 days.
How long does it take to get approved?
It is possible to get instant approval for the My GM Rewards card, but in some cases, you may need to wait a day or two.
Does the My GM Rewards card offer an excellent digital experience?
Yes, Marcus has an excellent website and app that combine to offer a superb digital experience. Both the website and app have a clean, intuitive layout that makes for a simple user experience.
How’s the My GM Rewards card customer service availability?
You can access the customer service team 24/7 by helpline or chat. However, the chat feature is not currently available on the app.
What are the top Reasons NOT to get the My GM Rewards card?
The top reason not to get the My GM Rewards card is if you are not brand loyal to GM. The rewards and redemptions are almost exclusively weighted towards GM products and services.
So, if you are not interested in saving towards a new, certified pre owned or lease vehicle, or you don’t have a GM vehicle that requires parts and servicing this is not the right card for you.
In this Review..
Benefits
- Redeem for GM Purchases or Leases
You can redeem your rewards towards a lease or new GM vehicle with no redemption limits.
You can also use up to $1,000 in rewards annually towards purchasing a Certified Pre Owned vehicle or for dealership services at participating dealerships.
- No Foreign Transaction Fee
The card doesn't charge a foreign transaction fee. It can very helpful if you're a frequent traveler or flying on a regular basis.
- Gift Card Options
While it is limited, as you can only redeem up to $250 of rewards per year as gift cards, it does provide another redemption method
- Vehicle Detailing Allowance
The card offers a $50 annual vehicle detailing allowance.
- Food Delivery
Existing DoorDash members will receive a $5 discount on their first two DashPass orders each month, while new DoorDash customers will receive a free three month DashPass.
You can also earn 5% back on your HelloFresh purchases to be used on future purchases.
- ShopRunner Membership
As part of the Mastercard World Elite benefits package, new My GM Rewards cardholders will receive a free ShopRunner membership worth $79, which provides benefits such as free returns and free two day shipping.
Top Offers
Top Offers From Our Partners
- Lyft Credit
You’ll receive $5 in Lyft credit per month if you take three rides in that calendar month.
- Rewards Don’t Expire
If you want to save towards a new GM vehicle, you can continue to accumulate your rewards without worrying about expirations.
Providing your account is active and in good standing, your rewards won’t expire.
- Statement Credit for Fuel or Electric Bills
You can earn a $100 statement credit if you spend $1,500 in fuel per calendar year or if you use your card to pay for six months of electric bills.
- 0% APR on Purchases and Balance Transfers
If you are looking to balance transfer with 0% intro APR, the Marcus card offers 12 months on purchases and balance transfers.
- Fandango Rewards
You’ll get a $5 Fandango reward for every $20 Fandango purchase. This includes Fandango streaming services. You can redeem your reward for movie ticket purchases, online movie rental or Fandango home streaming.
- Mastercard Airport Concierge
This service is available at hundreds of locations worldwide.
You can request it anytime—24/7, year-round—to get access to special rates for a personal Meet and Greet agent who will assist you through the airport, whether for departures, arrivals, or connecting flights.
At certain airports, you may even be fast-tracked through security and immigration.
Drawbacks
- Restrictive Redemption Program
While it is possible to redeem some of your rewards as a gift card, the remaining redemption methods are all GM focused. This means that you need to be very committed to the GM brand.
- Low Point Value
While this is fairly typical, one point is only worth approximately one cent.
So, you may find that there are other reward cards that represent better value for your money for you and your typical spending habits.
- No Cash Back
This follows on from the previous point, but it is worth reiterating as a downside in its own right.
This card has no options to redeem your rewards for statement credit, bank credits or any other form of cash back.
- Hefty Late Penalty Fee
If your monthly payment is delayed for any reason, you could be hit with a late penalty fee of up to $40.
Rewards Simulation: How Much You Can Earn?
The card offers two levels of rewards based on the purchase category.
Here's a table that can help you understand how much exactly you can get back. Don't forget to adjust it to your own spending habits.
| |
|---|---|
Spend Per Category | My GM Rewards Card by Marcus |
$10,000 – U.S Supermarkets | 40,000 points |
5,000 – GM Products | 35,000 points |
$5,000 – Restaurants
| 20,000 points |
$2,000 – Airline | 8,000 points |
$2,000 – Hotels | 8,000 points |
$4,000 – Gas | 16,000 points |
Estimated Annual Value | 127,000 points |
How Much Does 127,000 Points Worth?
For GM redemptions, each point is roughly worth one cent; however, if you redeem for a gift card, you will only receive a quarter of a penny per point.
- $1,270 on GM redemptions
- $250 gift card + $270 on GM redemptions
How to Maximize the My GM Rewards Card?
There are three main things you can do in order to make the most of the GM rewards card:
- Explore the Mastercard World Elite Benefits: While the My GM Rewards card does have its own benefits, it is also part of the Mastercard World Elite cards. This provides an impressive benefits package. Although we’ve highlighted a few of these benefits in the card features section, it is well worth checking the latest benefits that come free with your card.
- Don’t Redeem For Gift Cards: While it may seem handy to get gift cards, this is the worst way to redeem your reward points. Although the points are worth approximately one cent each for GM redemptions, you’ll only get a quarter of a cent per point if you redeem as a gift card. This means that if you max out your gift card redemption at $250, it would have been worth $1,000 in GM redemptions.
- Check for Down Payment Terms: According to Marcus, you may be able to use your card to pay for a portion of the down payment on your car. This means that you could earn some serious reward points. However, this is not available with all dealerships and in some situations, you may incur a fee if you’re paying for your vehicle using a credit card.
How to Get a GM Rewards Card?
Marcus makes it easy to apply for the My GM Rewards card online. Here are the three main steps when applying:
- On the main product page, you’ll see an “Apply Now” button in a number of places.
- After you click the “Apply Now” button, you’ll be directed to an application form. This is a fairly standard form, which requires that you provide your basic personal information including your full name, address, contact details, income and Social Security Number.
- After you submit your application, the Marcus team will review your information and typically provide an approval decision within a day or two. In some cases, they may need additional details from you, and if that happens, they’ll let you know and explain how to provide the necessary documents.
Compare The Alternatives
If you're looking for rewards cards with no annual fees, there are many alternatives in the market. Here are some of the best:
|
|
| |
|---|---|---|---|
Wells Fargo Active Cash℠ Card | Chase Freedom Unlimited® | Bank of America® Customized Cash Rewards credit card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
2%
2% cash rewards on purchases (unlimited)
|
1.5% – 5%
5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining (including takeout and eligible delivery), 3% on drugstore purchases, and 1.5% on all other purchases
|
1% – 5%
3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings, 2% cash back at grocery stores and wholesale clubs and 1% cash back on all other purchases. The 3% and 2% cash back available on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter (then 1%)
|
Welcome bonus |
$200
$200 cash rewards bonus when you spend $500 in purchases in the first 3 months
|
$250
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
|
$200
$200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
|
Foreign Transaction Fee | 3%
| 3%
| 3%
|
Purchase APR | 19.49% – 29.49% Variable APR
| 19.99 – 28.74% variable
| 18.74% – 28.74% Variable APR on purchases and balance transfers
|
FAQ
It is possible to see if you can get pre approved for My GM Rewards. This will only involve a soft credit pull and a hard inquiry will only be initiated if you accept a card once your application is approved.
In many cases, Marcus will rely on your credit report and a self declaration of your income. However, there may be some scenarios where you may need to support your application with proof of income.
If this is required, Marcus will inform you and provide instructions on how to submit the documentation.
Marcus does not have an official income requirement to qualify for the My GM Rewards card. However, you will need good to excellent credit to qualify.
This will consider your debt levels, current obligations, length of credit history and other factors in addition to your income to make a determination about your eligibility.
You can add multiple authorized users to your My GM Rewards card and they do not need to reside in your household. You can initiate this via your online dashboard or by calling the helpline.
