I believe a family member in the same household is ok. They can’t be transferred card to card, I tried that a couple of times with my dad when he had some on his that he didn’t plan to use.
The new program is a lot different as of a couple years ago. It used to be that rewards were tied to the card itself. I once had to add myself to my dad’s card as an authorized user to use a bonus earnings offer he had. Now it earns points that go to your GM Rewards account and they go into the same account/bucket as other points you earn on new vehicle purchases and the like. They aren’t tied to the credit card after earning them.
Right. But adding someone as an authorized cardholder to a credit card wouldn’t help because the points aren’t tied to the card once earned. That only worked before they switched to the current setup.
Weird. I never considered My GM Rewards as a card, but I guess maybe they do for that purpose.
Goldman Sachs issues a credit card called My GM Rewards, which replaced the Buypower card. Cardholders are automatically enrolled in the My GM Rewards program, which does allow you to earn points beyond the standard credit card stuff but credit card purchases are the primary way to earn. You don’t have to have a GM Rewards card to enroll in the rewards program. They try to sign up all their customers for the program when they purchase or lease.
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Fair point. Still seems like a lot of hassle and risk for minimal gain.
A lot of hassle maybe. Risk - you can get offers before buying the car.
And minimal gain? Based on OP swiping $1.2m per year every percent difference in cash back is $12k.
I never got the card specifically because of the inability to stack with supplier. Anyways I applaud OP’s creativity. An item that has a high value, is in high demand and is relatively easy to ship are the roof crossbars for Tahoe/Yukon. If the points don’t expire I’d just wait it out until the market turns in your favor on one of the vehicles you listed.
Isn’t GM supplier pricing effectively just a car’s invoice without the hassle of negotiating?
Unless it’s a hot new model (which is likely excluded from supplier pricing anyway), one should be able to negotiate down to invoice pricing + stack with the GM rewards points.
Most quotes are good for 7 days but no ibuyer will buy without a title. Most states take 3-4 weeks or more to issue a title. So you have risk between the time you get a quote and the time you receive a title. Read the forums to find many examples of ibuyer quotes dropping drastically within a few weeks.
Valid point. I misread the original post as $100k/year, not $100k/month.
Supplier gives a kickback to the dealer for a portion of the discount between MSRP and the supplier price. So if used correctly you can get a bigger discount then without code (ie go way below the supplier price). Or say currently when all Yukons are basically at MSRP you can find a dealer to do supplier and be better off than most.
You can use supplier, finance through GM Financial, and apply your earnings toward the loan now once it’s funded. It’s an extra step, but it’s also been useful to be able to redeem points earned between vehicle purchases.
Wasn’t there a $1,000 limit on GM Financial redemption?
I remember thinking there was a limit at one point but completely forgot about that. I’ve redeemed well over $1,000 in total and haven’t run into it. I haven’t redeemed more than $1,000 at once, though. Definitely a risk if you’re counting on a large redemption.
If points are transferrable I will buy them at a discount. I recently bought it.a GLE63 from a GMC dealer lol. Got approved with GM financial and got a GM card myself
You can make GM Financial Lease or Finance monthly payments with points I do it every month
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You can stack the business version with supplier FYI. I have used it 3 times with supplier.
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Only issue is the earning rate on the business card is much lower. Either way the ability to apply towards your lease payment basically makes the supplier restrictive not a big deal. Only thing holding me back is the reviews I just read on Marcus and their complete incompetence.