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GM BuyPower Business Card from Capital One® review

Published: May 16, 2018

Partner Offer: carefully review product terms on Capital One's site before applying

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Ratings Policy
Business Rating:
2.6 rating
2.6 rating
2.6 / 5
Rewards Value 2.7
Annual Percentage Rate 1.0
Rewards Flexibility 2.1
Features 3.0

In a nutshell:

The GM BuyPower Business Card from Capital One offers rewards you can use to buy a new Chevrolet, Buick, GMC or Cadillac vehicle.

Learn more about this card

Rewards Rate

  • 5% on GM parts, accessories and service at authorized GM dealers
  • 3% on gas, dining and office supplies
  • 1% on other purchases

Introductory Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($4,000 monthly spend)
$806

APR
14.74% (Variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • Unlimited earnings
  • Use your points to upgrade your vehicle
  • Use your rewards alongside other GM discounts and incentives (except for employee/supplier discounts)

Cons

  • Can only use rewards toward Chevrolet, Buick, GMC and Cadillac purchases, car payments and upgrades

Other Notable Features: No foreign transaction fees, EMV chip technology, World Elite MasterCard benefits, $1 million in travel accident insurance, car rental insurance, concierge service, extended warranties, identity theft services, emergency card services, price protection, trip cancellation & interruption insurance, MasterCard travel services, Priceless cities, travel assistance

If you’re a car enthusiast who buys a new Chevrolet, Buick, GMC or Cadillac vehicle every few years, the GM BuyPower Business Card from Capital One may make sense for you. This card lets you earn tiered rewards that can add up to big savings on a new car. Plus, you can use the rewards you earn in conjunction with other discounts and rebates.

The card’s rewards scheme is fairly simple: You get 5-percent earnings on purchases of GM parts, accessories and service at authorized GM Dealers, 3-percent earnings on purchases at gas stations, restaurants and office supply stores and 1-percent earnings on all other purchases. The rewards you earn are unlimited and they don’t expire as long as your card account is open.

No sign-up bonus and no annual fee

While the rewards this card offers can add up to big savings, you don’t have the option to earn a sign-up bonus. This is a disappointment since many comparable business rewards cards offer bonuses worth several hundred dollars.

However, the GM BuyPower Business card doesn’t charge an annual fee. This detail makes the lack of a sign-up bonus more understandable. Without an annual fee, the rewards you earn are just gravy as long as you pay your credit card balance in full each month.

The rewards aren’t for everyone

Before you sign up for this card, it’s important to note the very limited ways you can use your rewards. Basically, you can only use your rewards toward Chevrolet, Buick, GMC or Cadillac purchases, upgrades and car payments.

You can’t use them toward a used vehicle or a car sold by another brand. You also can’t redeem them for cash back, travel or gift cards. For this reason, the card is only a good idea for someone who is assured of purchasing a new Chevrolet, Buick, GMC or Cadillac vehicle every few years. If you aren’t in the market for a new car, the rewards you earn will be useless.

If you want to have more flexibility in how you redeem your rewards, you may want to consider a general rewards card or a cash back credit card that lets you redeem points for statement credits or gift cards.

Big earnings on gas, restaurants and office supplies

While the 5-percent earnings category for GM parts, accessories, and service at GM dealerships is fairly unimpressive since you can’t maximize it, it’s nice to know you’ll earn 3 percent for all your gas station, restaurant and office supply store purchases. This could be a huge benefit if you spend a lot in these categories each year and want to parlay your spending into a huge discount off a new vehicle.

Pool your rewards with other discounts

Negotiate the price for your new car first then take advantage of any special promotions or financing that may be available. Once all those details are squared away, you can use the rewards from your credit card to save even more off your new car price. These savings can reduce your monthly payment each month or lower your sales price.

One caveat: You cannot pool your rewards with a GM employee or supplier discount, so keep that in mind.

Other benefits for cardholders

The GM BuyPower Business card comes with no foreign transaction fees, which makes it a good option for purchases made abroad.

You also get access to an array of World Mastercard benefits, including $1 million in travel accident insurance, car rental insurance, concierge services, extended warranties, identity theft services, emergency card services, price protection, trip cancellation and interruption insurance, MasterCard travel services, Mastercard Priceless cities and travel assistance.

Why get GM BuyPower Business card?

  • You are definitely getting a new Chevrolet, Buick, GMC or Cadillac vehicle in the near future and want to save money.
  • You don’t need the option to redeem your points for cash back or travel.
  • You want a business card without an annual fee.

How to use GM BuyPower Business card:

  • Use it for all your expenses to save as much as you can on your new Chevrolet, Buick, GMC or Cadillac vehicle.
  • Get free employee cards for all your workers so you can rack up more rewards on all your business expenses.

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