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Goldman Sachs Bank USA is launching their second co-branded credit card - My GM Rewards® Mastercard®. The bank will be issuing three General Motors co-branded credit cards: My GM Rewards® Mastercard®, GM Business™ Mastercard®, and GM Extended Family™ Mastercard®.
Goldman Sachs is a newcomer to the credit card space. Their first credit card was Apple Card which was launched in cooperation with Apple in 2019. Now, they have a new win and will replace Capital One, who has issued co-branded cards for GM since 2012.
The new Goldman Sachs My GM Rewards card will have a new look and rewards program as GM is revamping its loyalty program as well. The program will have three membership tiers - Silver, Gold and Platinum. Each tier unlocks a set of exclusive benefits. My GM Rewards cardmembers will get Gold Tier status automatically, and that means unlimited earning and redemption power.
Here's the My GM Rewards® Mastercard® card at a glance:
- Earn 15,000 bonus points after spending $1,000 in your first 3 months - that's $150 in value when you redeem with GM
- 7X total points for every $1 spent on GM purchases
- 4X points for every $1 spent on all purchases
- No annual fee. No cap on rewards earned. Points don't expire
- Access to World Elite Mastercard benefits
- Special offers for cardmembers
- Automatic Gold Tier.
My GM Rewards cardmembers will be able to redeem an unlimited number of points toward an eligible, new GM vehicle purchase or lease. Also, they can redeem points toward paid GM Certified Service, GM Genuine Parts, ACDelco Parts, and more.
Active cardmembers will get upgraded to the new My GM Rewards® Mastercard® automatically. Marcus by Goldman Sachs will begin servicing GM credit card accounts on February 22. That means, cardmembers should receive their new card somewhere between the end of February and early April. Until then, they can use their old GM card.
