Today, Capital One Financial Corporation (NYSE:COF) and General Motors
(NYSE:GM) along with MasterCard (NYSE:MA) announced a multi-year
extension of their co-brand card partnership and the launch of the new
GM Card from Capital One, a transformational new product in the
automotive rewards credit card category. This new card delivers
tremendous value and rich automotive rewards by offering consumers 5
percent Earnings on their first $5,000 worth of net card purchases
annually and an unlimited 2 percent on all other purchases.
![Today, Capital One Financial Corporation (NYSE: COF) and General Motors (NYSE: GM) along with Master ...](http://mms.businesswire.com/media/20131016005653/en/387636/4/GM_Card_Vertical_shdw-WR.jpg)
Today, Capital One Financial Corporation (NYSE: COF) and General Motors (NYSE: GM) along with MasterCard (NYSE: MA) announced a multi-year extension of their co-brand card partnership and the launch of the new GM Card from Capital One, a transformational new product in the automotive rewards credit card category. (Photo: Business Wire)
The new GM Card from Capital One comes with no annual fee and offers no
limits on the rewards consumers can accumulate and redeem toward the
purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle. In
addition, rewards don’t expire and as with all other Capital One cards,
there are no foreign transaction fees.
“We are very excited about the new GM Card from Capital One and value
the commitment of our strategic partners to offer best-in-class products
to our customers,” said Bill Cilluffo, Executive Vice President, Card
Partnerships at Capital One. “Consumers told us they wanted a
straightforward way to earn greater benefits than their current auto
rewards card. Together, in partnership with General Motors, we have set
a new standard in this category, and are providing a better solution for
consumers to plan for and save toward their next new Chevrolet, Buick,
GMC, or Cadillac vehicle.”
Since its launch in 1992, GM Card Earnings have been redeemed toward the
purchase of nearly 7 million new GM cars, trucks, SUVs and crossovers.
With the launch of the new card consumers can obtain and enjoy one of
the richest automotive rewards credit cards available today.
“Our customers have never had a better or bigger lineup of new
Chevrolet, Buick, GMC and Cadillac models to choose from to meet their
needs,” said Chuck Thomson, general manager, GM Retail Sales and
Marketing Support. “We are introducing 27 new or refreshed cars, trucks
and SUVs in 2013 and 2014 – an average of one per month – and the new GM
Card is the key for customers to put one in their driveways.”
Features of the new GM Card from Capital One include:
-
5 percent Earnings on the first $5,000 of net card purchases every
year and an unlimited 2 percent earnings on all other purchases
-
NO LIMITS on the amount of Earnings a customer can accumulate
-
NO EXPIRATION of Earnings
-
NO LIMIT on the amount of Earnings that can be redeemed toward the
purchase or lease of a new Chevrolet, Buick, GMC, Cadillac vehicle
-
NO annual fee
-
Access to World Elite MasterCard benefits including Trip Cancellation
Insurance, Emergency Card Replacement, and MasterCard Travel Services™
--- a suite of travel benefits including amenities, upgrades, VIP
Status, premium travel offers from best-in-class travel companies, and
world-class travel advisors available 24/7 to address cardholders’
specific interests and provide complimentary travel planning.
The new GM Card, designed in collaboration with the General Motors
global design staff, features a vertical card design and is available in
five options including a universal design, as well as four division card
designs featuring Chevrolet, Buick, GMC and Cadillac for consumers who
take pride in their brand affinity. Regardless of the design, customers
can redeem their rewards toward the purchase or lease of any Chevrolet,
Buick, GMC or Cadillac vehicle.
“Today's consumers are savvy and realize that it's smart to leverage
their spending while still saving money on major purchases like a new
automobile,” said personal finance expert Lynnette Khalfani-Cox, founder
of AskTheMoneyCoach.com.
”As a GM car owner, I am excited about the great benefits that Capital
One and General Motors are delivering with this new card.”
Capital One’s continued partnership and extension of the agreement with
General Motors reinforces the company’s commitment to building its
credit card partnership business. To learn more about the new GM Card
from Capital One, visit www.gmcard.com
About Capital One
Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $209.9 billion in
deposits and $296.5 billion in total assets as of June 30, 2013.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum
of financial products and services to consumers, small businesses and
commercial clients through a variety of channels. Capital One, N.A. has
more than 900 branch locations primarily in New York, New Jersey, Texas,
Louisiana, Maryland, Virginia and the District of Columbia. A Fortune
500 company, Capital One trades on the New York Stock Exchange under the
symbol "COF" and is included in the S&P 100 index.
About General Motors Co.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles
in 30 countries, and the company has leadership positions in the world's
largest and fastest-growing automotive markets. GM, its subsidiaries and
joint venture entities sell vehicles under the Chevrolet, Cadillac,
Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling
brands. More information on the company and its subsidiaries, including
OnStar, a global leader in vehicle safety, security and information
services, can be found at http://www.gm.com.
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