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Review of the
GM Business Card from Chase
The GM Business Card from Chase was last reviewed on 6th March 2008
Summary - The GM Business Card from Chase
will appeal to the small business owner who is looking to earn rebates and save on a future new GM vehicle purchase. Find out how you can make use of this card.
Reward Formula - The GM Business credit allows you to earn 3% earnings (or rebates) for purchases on fuel purchases at the pump, at restaurants, office supply stores and at authorized GM dealers on parts and service. You earn 1% "earnings" dollars spent on "other purchases". "Earnings" are valid for 5 years. You get a $600 statement credit every time you purchase or lease an eligible new GM vehicle though the GM Business Choice program. There are no caps on the amount of "earnings" or rebates you can earn and also no limits on redemptions for your next new GM purchase.
Fees - There is no annual fee for this card nor is
there any fees for additional employee cards. New cardholders get a 0% apr introductory offer for both purchases and balance transfers for 12 billing cycles. The apr is prime rate plus 5.99%, 9.99% or 14.99% depending on your credit. The two-cycle average daily balance method for computing balances.
Verdict - If you are a small business owner who is looking to purchase a new GM vehicle in the future, the
GM Business Card from Chase will helps you save money on your next purchase. You can earn unlimited rebates and best of all, there is no cap on the redemption you can use on your next GM purchase.
Positives
No caps on earningsNo limits on redemptionNo annual fee or additional employee card fee
GM Business
Card from Chase
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| Reward Benefits |
| Reward Formula |
Earn 3 points for every dollar you spend at the pump, at restaurants, office supply stores and at authorized GM dealers on parts and service
Earn 1 point for every dollar you spend on other purchases |
| Other Benefits |
Online Account Access
Online account statements
Chase Bill Management Center
Credit Line increases |
| Cost/Fees/Interest rates |
| Introductory rate |
0% introductory APR on balance transfers and purchases for 12 billing cycles |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 5.99%, 9.99% or 14.99% |
| Balance Transfer APR |
Prime Rate plus 5.99%, 9.99% or 14.99% |
| Cash Advance APR |
Prime Rate plus 15.99% |
| Penalty/Default Rate APR |
Prime Rate plus 23.99% |
| Min Finance Charge |
$1.00 |
| Grace Period |
20 days |
| Balance Calculation Method |
Average daily balance method (including new purchases) |
| Balance Transfer Fee |
3%, min $5.00 max $75.00 |
| Cash Advance fee |
3% min $10.00 |
| Over-the-credit-limit fee |
$39.00 |
| Late Payment fee |
$15.00 - up to but not including $100
$29.00 - $100 up to but not including $250.00
$39.00 - $250.00 and above |
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