GM Card from Capital One Celebrates Reward Milestone
DETROIT--Feb. 27, 2014: 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.