BuyPower Card Credit Card Review & Application

The BuyPower Card (formerly known as the GM Card) rewards you with Earnings on every purchase to get an Aeligible, new Chevrolet, Buick, GMC or Cadillac vehicle. This card has a powerful earnings, which is 5% Earnings on your first $5,000 in purchases every year, and 2% unlimited Earnings on purchases after that.

BuyPower Card is now a World First-class MasterCard: It offers you a large amount of additional benefits and protections beyond the perks offered by the issuer. The card still has no annual fee and allows you to earn back a percentage of your spending, which you can then put toward an eligible new GM vehicle (retail purchase or lease).

Here are some benefits of this credit card:

Firstly, this card has a trip insurance and refunds any non-refundable purchases you’ve made for a trip if you have to cancel or end your trip.

Secondly, you can get complimentary room upgrades, late check-out, early check-in and free breakfast from Luxury Hotel & Resorts program. And you can also get discounts for certain airlines and itineraries and, sometimes, even complimentary seat upgrades.

Thirdly, in the past, the GM Card had a ceiling of $500 for some vehicles and up to $3,000 for others. However, the BuyPower Card has no such limits. You can redeem as many rewards as you earn, up to the full price of a new GM vehicle in some cases.

However, the biggest drawback of this card is that, the redemption options are pretty limited just like many loyalty cards. The card is designed for customers who have brand loyalty to General Motors. If you aren’t a fan of GM, you probably wouldn’t have this card in the first place. Even if you spend $10,000 on the card per year, you’d have just about $1,750 after five years. That’s not enough to entirely cover the cost of a new vehicle, and probably not even the sales tax when you really crunch the numbers. So, if cost is a concern, you can certainly save money by forgoing the card altogether and buying a used car.

Basic information:

1) Annual Fee: None

2) Transaction Fees:

Balance Transfer: none

Cash Advance: Either$10 or 3% of the amount of each Cash Advance, whichever is greater.

3) Penalty:

Late Payment: up to $30

Returned Payment: Up to $25

4) APR for purchase: 0% Introductory APR for the first 12 months

5) APR for Balance Transfers: 12.15%, 16.15% or 20.15%, based on your creditworthiness.

6) APR for Cash Advances: 25.15% This APR will vary with the market based on the Prime Rate

7) Penalty APR and When It Applies: 29.65%

How to apply a BuyPower Credit Card:

1) Visit the website

2) Press“Apply Now”button to be redirected to the instruction for application

3) Filling personal information about you,such as your first name, second name, Email Address, date of birth etc

4) Press “Continue application” button and follow the on-screen instruction to finish the next step.

Please note: If you have already received a BuyPower Card offer from Capital One, you should go to the website and enter the 10-digit invitation number to continue the application process.