General Motors today announced that the GM Card from Capital One, an automotive rewards credit card, has passed the seven-million mark in Cardmember vehicle redemptions. GM Cardmembers accumulate earnings with each purchase, which can be redeemed to buy or lease a new GM vehicle.
Thomas E. Jama Sr.’s eighth new-vehicle redemption using his GM Card earned him a $7,000 bonus in GM Card earnings toward a future GM vehicle purchase or lease. Jama’s Feb. 12 purchase of a 2014 GMC Terrain Denali from Nick Abraham Buick GMC in Elyria, Ohio was No. seven million. He has been a GM Cardmember since 1996.
“The GM Card is a great way to save money on a new car or truck and it’s really easy – you just show up at the dealership and show your card,” Jama said.
Said Chuck Thomson, general manager, GM Retail Sales and Marketing Support: “The GM Card has been the key to putting a new Chevrolet, Buick, GMC or Cadillac in our customers’ driveways since 1992, and this is a great milestone.” GM and Capital One last year introduced the new GM Card from Capital One, which Thomson said sets a new standard in the automotive rewards card category.
The GM Card from Capital One offers consumers 5-percent earnings on their first $5,000 worth of net card purchases every year and an unlimited 2 percent on all other purchases. It comes with no annual fee and offers no limits on the rewards consumers can accumulate and redeem toward the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac. Rewards don’t expire and, as with all other Capital One cards, there are no foreign transaction fees.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.