Credit Cards » Credit Card Reviews » My GM Rewards Card by Marcus Review 2023
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My GM Rewards Card by Marcus Review 2024

the My GM Rewards card by Marcus is a co branded card that is ideal for GM brand loyalists. Is it worth for the average customer?
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: April 15, 2024
The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
Interest Rates Last Update: April 15, 2024

The banking product interest rates, including savings, CDs, and money market, are accurate as of this date.

We earn a commission from our partner links on this page. It doesn't affect the integrity of our unbiased, independent editorial staff. Transparency is a core value for us, read our advertiser disclosure and how we make money.

My GM Rewards Card by Marcus

My GM Rewards Card by Marcus review

Rewards Plan

4x-7x 4 points for every dollar you spend on purchases and 7 points per dollar on GM products, parts and services

Welcome Bonus

15,000 points 15,000 bonus points when you spend $1,000 within your first 3 months of account opening

Credit Rating

Good – Excellent Credit

Intro APR

12 months on purchases and balance transfers

Annual Fee

$0

APR

20.24% to 29.99% variable APR
My GM Rewards Card by Marcus

My GM Rewards Card by Marcus review

Rewards Plan

4x-7x 4 points for every dollar you spend on purchases and 7 points per dollar on GM products, parts and services

Welcome Bonus

15,000 points 15,000 bonus points when you spend $1,000 within your first 3 months of account opening

Intro APR

12 months on purchases and balance transfers

PROS

CONS

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

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.

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.

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

The card offers a $50 annual vehicle detailing allowance.

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.

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

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners

Amex gold

Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus:
60,000 points 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership

upgrade cash rewards

Rewards Plan:
1.5% 1.5% cash back on payments
Welcome Bonus:
$200 Earn a $200 bonus after you open & fund a Rewards Checking Plus account & make 3 debit card transactions within 60 days. If you previously opened a checking account through Upgrade or do not do so as part of this process, you are not eligible. Payout made within 60 days of meeting the conditions.

AMEX Blue Cash Preferred Card review

Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus:
$250 $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
Advertiser Disclosure
The product offers that appear on this site are from companies from which this website receives compensation.

You’ll receive $5 in Lyft credit per month if you take three rides in that calendar month.

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.

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.

If you are looking to balance transfer with 0% intro APR, the Marcus card offers 12 months on purchases and balance transfers.

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.

This feature is available at hundreds of destinations around the world. 

You can request this service 24/7 365 to receive access to preferred rates for dedicated, personal Meet and Greet agents to escort you through the airport for departures, arrivals or connecting flights. 

In some airports, you may even be expedited through security and immigration.

Drawbacks

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.

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.

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.

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.

My GM Rewards Card by Marcus review

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:

  1. On the main product page, you’ll see an “Apply Now” button in a number of places.
  2. 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.
  3. Once you submit your application, the Marcus team will review your details and provide an approval decision within a day or two. In some cases, you may need to support your application with additional information, but Marcus will notify you if this is required and explain how to submit the required paperwork.

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 card

Bank of America® Customized Cash Rewards

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% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all 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
$200 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
20.24% to 29.99% variable APR
20.24%–28.99% variable
18.24% – 28.24% Variable APR will apply. A 3% fee (min $0) applies to all 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.

Picture of Andrew O'Malley

Andrew O'Malley

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

Credit Card Reviews Methodology

In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.