The GM Business Card™ is quite a niche specimen in the business credit card space, and it’s not a good fit for the average consumer.
Yes, its return rates are fabulous. Yes, it’s got an astronomical sign-up bonus for a no annual fee card. But the rewards it earns are almost exclusively GM oriented.
If you don’t find yourself regularly swiping your card for GM parts and services, the card will underserve you. If you don’t purchase or lease a new car but once every six years (like the average American), there might be more remunerative business credit cards for you and your business.
However, if you do make these kinds of purchases with regularity, this card is hard to beat. I’ll show you why.
Key Features
- Best for: SMBs that own or plan to own a GM vehicle (Chevrolet, Buick, GMC, Cadillac)
- Welcome offer: $750 after meeting minimum spending requirements
- Intro APR: 0%* APR for the first 12 Months* on new purchases. After that the APR is 16.24%-26.24% Variable, based on creditworthiness*.
- Rates: Excellent earning rates for GM parts or services; as well as for gas stations, restaurants, and office supply stores
- Annual fee: None for primary cardholder or employee cards
- Other features: TurboTax discounts, business assistant concierge, free ShopRunner discounts, etc.
In-Depth Analysis
Welcome Offer
The GM Business Card™ comes with a $750 bonus after spending $5,000 on eligible purchases within the first five months of account opening.
Most no annual fee cards tend to offer bonuses worth between $100 and $250 (though there are some exceptions), so $750 is definitely noteworthy. And the minimum spending requirement should be easily achievable for most small businesses.
Unfortunately, there’s a bit of a catch to this bonus — it’s not exactly “cash.” This detracts from the true value of the bonus, as I’ll explain in a minute.
Earning Rewards
The GM Business Card™ gives some of the best-in-class return rates for spending in the following categories:
- 5% in Earnings on GM dealership parts or services
- 3% in Earnings on purchases at gas, restaurants, and office supply stores
- 1% back on all other eligible purchases
The card’s 5% category is a bit niche and likely not a frequent spending category for even avid GM owners. But 3% back on super common expenses like restaurants and gas stations is a big win for a card with no annual fee.
Redeeming Rewards
As with the welcome offer, the return you receive for spending with your GM Business Card™ isn’t hard cash. It’s distributed as “My GM Rewards points,” which is effectively GM credit that you can use for specific GM purchases. You can redeem your points at a GM dealership or online.
At the GM dealer, points can be redeemed for:
- New GM vehicle purchases or leases
- Chevrolet, Buick, GMC, or Cadillac certified pre-owned vehicles (up to $1,000 annually)
- Certified service, accessories, GM genuine parts and ACDelco parts, and GM protection plans (up to $250 annually)
If you redeem your points online, you can use up to $250 annually for:
- GM accessories
- Most OnStar and Connected Services
- GM payment
You can redeem points at GM partner sites, as well, for a GM Financial bill payment and your SiriusXM statement. Finally, you can buy up to $250 in third-party gift cards via GM’s online gift card mall.
One saving grace concerning GM Rewards is that your points never expire as long as your account is active and in good standing. You can essentially hoard points for several years and cash them in when buying a new car.
Fees and Interest Rates
The GM Business Card™ comes with 0%* APR for the first 12 Months* of account opening. After that, the ongoing APR will be 16.24%-26.24% Variable, based on creditworthiness*.
You’ll also be charged 29.24% APR for cash advances, and up to a $40 fee if you make a late payment.
This card does not charge foreign transaction fees.
Other Benefits
Small business credit cards can provide business owners with benefits beyond rewards on spending. For instance, using a business credit card is one of the best ways to separate your personal and business finances.
Other than that advantage (which applies to every business credit card, not just this one), this particular card isn’t exactly rich with flashy benefits. But there are a few helpful perks a small business owner can utilize for added value.
For example, you can add multiple employees to your account for no extra charge. The points they accrue will deposit into your account, so it’s a good way to earn rewards more quickly. You’ll also get helpful expense tracking tools on Marcus.com — and you can set unique limits on employee cards to ensure that nobody overspends.
Because this card is a World Elite Mastercard, you’ll get the following as well:
- Business Assistant Concierge — 24/7 assistance locating tech support, arranging dinners for clients, reserving meeting rooms, etc.
- Mastercard BIZ Cell Phone Protection — Pay your phone bill with the card and get $800 in coverage per damage or theft incident ($50 deductible). Max two claims and $1,000 in coverage per 12-month period.
- ShopRunner membership — Free two-day shipping from 100+ retailers. The typical membership cost is $79 per year without the card.
You’ll also get various discounts on business-centric apps and services such as Intuit, Salesforce, ZOHO, and Microsoft Advertising.
