Buying A New Vehicle Using A Credit Card: GM Credit Card
The use of credit cards and the distribution of credit cards has become a very big business. In fact it is estimated that the average individual has in their possession an average of eight credit cards. It would also stand to reason that many consumers carry a balance on their credit cards. Estimates of average balances carried by the average credit card user varies anywhere from $4,000 to $8, 000.
Is it any wonder that many businesses diversify their options by not only dealing with mainstream products, but also offer credit cards? Examples of this business combination include such big business firms as American Airlines, Wal-Mart, the teaming up of Sears and Kmart, etc. Often when an individual opens up a credit card that bears the logo of a specific business there are rewards that the credit card user can take advantage of.
Therefore, if an individual is going to open up a credit card account it is best to take full advantage of all of the perks that each of the various competitive companies offer.
One such business that is offering credit cards to qualified individuals is the GM credit card. In the event that the individual is looking to purchase a new vehicle in the not too distant future it may be beneficial to that individual to look into the opening up of the GM credit card.
Who Is GM?
GM actually stands for general motors. GM is the one of the largest automakers globally. Specifically, GM products include Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer and Cadillac.
GM was founded in 1908 and the total estimated number of employees around the world is estimated at well over 284.000. Headquartered in Detroit, Michigan, GM lays claim to the fact that they have been the automotive sales leader for over 76 years.
In addition to providing quality vehicles to their customers and credit card services GM also provides "onboard emergency services." These "onboard emergency services" are operator monitored and are designed to communicate with the operator of the vehicle as needed or in the event of an accident the driver cannot notify emergency personnel.
The Benefits Of A GM Credit Card
Many credit cards offer rewards for their customers who utilize their credit cards. Some of these rewards are based on the accumulation of points. This accumulation of points equates to the dollar amount of the purchases made by the consumer. In addition, some cards give back to their customers a cash back bonus. This cash back bonus is based on a certain percentage offered by the credit card company.
As with similar credit cards, the GM credit card offers rewards to their customers who utilize the GM credit card. Specifically, a percentage, one or three percent, is given to the consumer per each dollar that is spent utilizing the GM credit card.
In addition, the consumer has three options of accepting the rewards. The first option is to draw out a reward of $100. This is accomplished when a minimum of $100 worth of purchases is made through the credit card. The next option is that the reward can be applied to the purchase of any vehicle. In both of the above instances the drawing out of the rewards accumulated can only be done through $100 increments. The last option is that the individual may opt to utilize their rewards towards the purchase of a new GM vehicle. If this option is exercised the earnings are increased to 3%.
