High late payment fee and relatively high APR: The late fee for this card can be up to 38 dollars and the APR as much as 24.24%.The rewards can also be applied to the cost of vehicle costs like SiriusXM subscriptions or OnStar plans. Earnings can be used to buy or lease a new GM vehicle or, to an annual limit of $250, for in-dealership purchases of GM parts, servicing, and accessories. Both involve redeeming your rewards with GM. Limited Redemption Options: While most business cards offer multiple, and quite different, ways to redeem rewards, the GM BuyPower has only two options.That’s a big drawback, especially considering that almost all other business cards offer such incentives. No Bonus: Unfortunately, the GM BuyPower doesn’t come with an introductory bonus.If you’re planning on making major purchases or taking a vacation, this introductory offer gives you a full year to make payments on them without paying interest charges. You’ll get 0% APR for 12 months after opening an account after that, your variable APR will be between 15.24% to 24.24%. Introductory 0% APR: The GM BuyPower card has an introductory 0% APR for purchases.That’s a higher rewards rate than you’ll find with most credit cards. You’ll get 5% in earnings on the first $5,000 you spend each year, giving you $250 towards a new car if you charge the maximum to the card. After reaching that spending threshold, you’ll get an unlimited (and still-decent) 2% in earnings on further purchases. High Rewards Rates For a Card With No Annual Fee: If you’re in the market for a new GM vehicle, the GM BuyPower card offers exceptional rewards, especially for a card with no annual fee.High late payment fee and relatively high APR
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