The My GM Rewards Loyalty Program Expands Rewards for Chevrolet, Buick, GMC, and Cadillac Owners

Rhea-AI Summary

On January 10, 2022, General Motors (NYSE: GM) launched the enhanced My GM Rewards loyalty program, which includes three membership tiers: Silver, Gold, and Platinum, offering more options for earning and redeeming points. The program allows members to earn points on vehicle purchases, parts, and services. Alongside this, the My GM Rewards Card was introduced, enabling unlimited point redemption for new and Certified Pre-Owned vehicles. The program aims to enhance customer loyalty and streamline the experience for over 6 million current members.

Positive

• Launch of the expanded My GM Rewards program offering three membership tiers (Silver, Gold, Platinum) to enhance customer loyalty.
• Introduction of the My GM Rewards Card, which integrates seamlessly with the loyalty program, allowing unlimited points redemption.
• Members can now redeem points for Certified Pre-Owned vehicles, indicating a broader scope of rewards.
• No-cost signup available for current and past GM customers, improving accessibility.

Negative

• None.

DETROIT, Jan. 10, 2022 /PRNewswire/ -- Today, General Motors (NYSE: GM) launched the all-new My GM Rewards loyalty program for Chevrolet, Buick, GMC, and Cadillac customers, featuring three membership tiers and new ways to redeem, unlocking a new world of appreciation for rewards members. My GM Rewards is the most comprehensive Automotive Loyalty program for members. Today also marks the launch of the all-new My GM Rewards Card, in collaboration with Marcus by Goldman Sachs and Mastercard.

"For six consecutive years GM has been recognized as having the Highest Overall Manufacturer Loyalty by IHS Markit¹, driving us to create an all-new My GM Rewards that greatly enhances the ownership experience," said Julie Heisel, director of GM Rewards and GM Card. "The new My GM Rewards is a big win for our customers with more ways to earn and redeem points, including premium tiers of membership with exclusive offers and opportunities²."

The all-new My GM Rewards launches today with easy, no-cost signup to any current or past Chevrolet, Buick, GMC, or Cadillac customers. With three membership tiers – Silver, Gold and Platinum² – customers can level up as they spend. Each tier unlocks higher points earnings and redemption caps. Gold and Platinum rewards members can now redeem points toward the purchase of GM Certified Pre Owned vehicles³ and their points do not expire.

The expanded program allows members to earn and redeem points toward buying or leasing a new GM vehicle, as well as for parts, accessories, paid Certified Service, and select OnStar® and Connected Services plans.

My GM Rewards originally launched in 2018, as the industry's first automotive rewards-based customer loyalty program. Today more than 6 million GM customers are part of My GM Rewards.

Now, pair My GM Rewards with the all-new My GM Rewards Card
Together with Marcus by Goldman Sachs and Mastercard, GM is introducing the all-new My GM Rewards Card. The all-new credit card is seamlessly integrated into the My GM Rewards loyalty program and allows Cardmembers to redeem an unlimited number of points toward the purchase or lease of a new Chevrolet, Buick, GMC, or Cadillac vehicle.⁴ Cardmembers can also redeem points toward the purchase of Certified Pre Owned vehicles³ or toward eligible in-dealership GM services – paid Certified Service, parts, accessories, select OnStar® and Connected Services plans, as well as gift cards⁵. 

To apply, go to www.mygmrewardscard.com today. Applicants can see if they are approved for the My GM Rewards Card without impacting their credit score. There will be a hard credit check if applicants accept their approved offer, which could impact credit scores. 

The My GM Rewards Credit Card benefits include:

• Unlimited 7X points for every $1 spent at GM⁶
• Unlimited 4X points for every $1 spent everywhere else – the card that earns you unlimited 4% toward a new GM vehicle⁶ 
• Points do not expire with an open account in good standing
• Earn a $100 card statement credit when you spend $1,500 on fuel or pay six months of electric bills for a registered electric vehicle per calendar year⁷ 
• Up to $50 per year applied toward a vehicle detailing charge from a participating dealer⁸
• Immediate Gold Tier in My GM Rewards, upon card approval
• World Elite Mastercard® benefits

Goldman Sachs Bank USA is the issuer of the credit card and Mastercard is the network of choice.

GM has been a pioneer in co-branded rewards card programs, launching its first consumer card in 1992. Since then, millions of customers have redeemed earnings toward the purchase of new Chevrolet, Buick, GMC, and Cadillac vehicles.

In addition to unifying with the My GM Rewards Card, the new My GM Rewards also eases the customer experience by integrating with online accounts and mobile applications used by Chevrolet, Buick, GMC, and Cadillac owners. Customers can manage their My GM Rewards accounts within their existing online account and mobile apps, with no need for an additional or unique account nor password.

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which will power everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. 

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Marcus by Goldman Sachs
Marcus by Goldman Sachs® offers products and tools designed to help people and small businesses achieve financial well-being. Marcus offers a high-yield Online Savings Account; certificates of deposit in a variety of terms; no-fee, fixed-rate unsecured personal loans, unsecured financing for small businesses; managed portfolios of ETFs; credit cards and free financial tools & trackers. All Marcus loans and savings products are provided by Goldman Sachs Bank USA, Member FDIC. Brokerage and investment advisory services offered by Marcus Invest are provided by Goldman Sachs & Co. LLC, which is an SEC registered broker-dealer and investment adviser, and member FINRA/SIPC. Research our firm at FINRA's BrokerCheck. All Marcus products benefit from Goldman Sachs and its over 150-year history of financial expertise, risk management and customer service. For more information please visit www.marcus.com.

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

¹According to IHS Markit U.S. owner loyalty analysis, General Motors had the greatest percentage of owners who returned to market and purchased or leased another GM vehicle in each year between 2015-2020.

²GM Card Earnings are those reflected as of date indicated and are subject to additional purchases, returns, redemptions and expiration.  Please see Program Rules that are applicable to your Account for terms, conditions, exclusions and limitations.

³Cardmembers can redeem up to $1,000 in points (100,000 points= $1,000 value when redeemed at GM) per calendar year toward eligible Certified Pre-Owned GM vehicles. Exclusions apply, please see complete Program Rules, log in to mygmrewards.com.

⁴Points are those reflected as of date indicated and are subject to additional purchases, returns and redemptions. For complete Program Rules, log in to mygmrewards.com.

⁵Cardmembers must log in to mygmrewardscard.com to redeem points toward gift cards. Each point redeemed toward a gift card is worth $0.0025 (e.g., 100,000 points = $250). Cardmembers are eligible to redeem up to 100,000 in points for $250 in gift cards per calendar year. Log in to mygmrewardscard.com for more details.

⁶ Subject to credit approval.  4x earn outside of GM may be subject to online setup of certain service plans.

⁷ Eligible GM electric vehicle owners must verify their account and activate through mygmrewardscard.com to receive a $100 statement credit for using their My GM Rewards Card to pay 6 electrical bills from January 2022 to December 2022. For complete rules log in to mygmrewardscard.com.

Cardmembers must verify their account and activate through mygmrewardscard.com to receive a $100 statement credit once $1,500 is spent on the My GM Rewards Card in fuel purchases at eligible gas stations per calendar year. Points will be applied based on the merchant category code used by the merchant who reports a transaction. GM and Goldman Sachs Bank USA are not responsible for merchant category code errors made by merchants. Log in to mygmrewardscard.com for more details.

⁸ Cardmembers receive a $50 allowance per calendar year to apply toward vehicle detailing services at a participating GM dealer. Dealer will apply allowance at time of service. No activation required.

Forward-Looking Statements
This press release and related comments by management may include "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent our current judgement about possible future events and are often identified by words such as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law

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SOURCE General Motors Co.

FAQ

What is the My GM Rewards loyalty program launched by GM?

The My GM Rewards loyalty program is an enhanced automotive loyalty program offering three membership tiers (Silver, Gold, Platinum) that allows customers to earn and redeem points on vehicle purchases, services, and more.

When did GM launch the My GM Rewards Card?

GM launched the My GM Rewards Card on January 10, 2022, in collaboration with Marcus by Goldman Sachs and Mastercard.

How can GM customers earn points in the My GM Rewards program?

Customers can earn points by purchasing or leasing new GM vehicles, buying parts and accessories, and using eligible paid services.

What are the benefits of the My GM Rewards Card for GM customers?

The My GM Rewards Card offers unlimited points earning on GM purchases, points that do not expire, and a $100 statement credit for specific spending, among other benefits.

How many customers are currently enrolled in the My GM Rewards program?

As of the launch of the enhanced program, over 6 million GM customers are enrolled in the My GM Rewards program.