GMCard
The GMCard Mastercard
How you Earn With the GM Card®
You earn 5% on GMcredit card purchases which is redeemable on the purchase or lease price of a new GM car, truck or SUV (excluding Saturn, Saab and HUMMER H1). There are no limits to the amount of Earnings you may acquire within an Account Year.
Unless used or terminated under The GMCard Earnings and Redemption Allowance Program Rules, Earnings are valid for seven years from the end of the billing cycle in which they were earned. In the eighth year, GMCard Earnings accumulated from the first year will expire and GMCard Earnings accumulated in the eighth year will be added in their place, and so on. Expiration after seven years will occur month-by-month, so seven full years of Earnings are maintained. (These Earnings are in addition to most other discounts General Motors may offer, excluding The GM Supplier purchase programs, GMO, GMS and PEP, The GM Dealership Employee Purchase Program and The GM Supplier Purchase Program.) Upon being approved for the GMCard, you will earn 5% on your first two Balnce Transfer Checks included in your Welcome Package if posted within 60 days of opening your Account. The 5% does not apply to cash advances or use of other Balance Transfer Checks and Convenience Checks unless otherwise expressly disclosed. Use of the GMCard and the GM Platinum card is subject to The GMCard Earnings and Redemption Allowance Program Rules which will be supplied to all new Cardmembers following receipt of theirGM Card. GM reserves the right to change or terminate the program rules, regulations and rewards.
Vehicle Redemption Allowances
The Redemption Allowance is the maximum amount of GMCard Earnings that can be applied toward the purchase or lease of each eligible, new GM Vehicle. Redemption Allowances are established for the duration of each vehicle’s model year and may increase during promotional periods. Details are available at gmcard.com or by calling the GM Cardmember Services Redemption Center at 1-800-947-1000, prompt 4.
Rate Information
Annual Percentage Rate (APR) for Purchases An Introductory APR of 0% will apply for the first 12 billing cycles of your Account. After that, a variable Premium APR will apply: 11.24%, 16.24%, or 18.24% as of 8/1/05, depending on your creditworthiness
(Minimum Premium APR: 10.99%, 15.99%, or 17.99%.)
Other APRs Balance Transfer APR: 0% for the first 12 billing cycles of your Account.
Variable Cash APR: 21.65% as of 8/1/05. (Minimum Cash APR: 20.99%).
Variable Default APR: 28.24% as of 8/1/05. (Minimum Default APR: 27.99%).
Variable Rate Information Your APRs may vary. The rates are determined by adding the Index (described below) and:
· 4.99%, 9.99%, or 11.99% (”Spread”) depending on your creditworthiness, for the Premium APR for credit card purchases and cash advances made by credit card check.
· 15.4% (”Spread”) for the Cash APR for cash advances.
· 21.99% (”Spread”) for the Default APR.
For each billing cycle, the Index is determined in the month prior to the month in which the billing cycle ends. In that prior month, the highest Prime Rate published in The Wall Street Journal is selected (the “Index”). If the Index has changed, the new variable rates will take effect with the billing cycle that ends on or after the first day of the month following the Index change.
Grace Period for Repayment of Balance for Purchases At least 20 days after the close of the previous billing cycle on new credit card purchases, provided you paid your previous balance in full.
Method of Computing the Balance for Purchases Average Daily Balance (including new purchases) Method.
Annual Fee None.
Minimum Finance Charge $.50 for each billing cycle in which a periodic Finance Charge is payable.
Cash Advance Fee: 3% ($15 minimum) on all cash advances including Convenience Checks, unless otherwise disclosed. Normal periodic Finance Charges apply from date of transaction.
Balance Transfer Fee: 3% ($15 minimum) for advances by Balance Transfer Check, unless otherwise disclosed, and a $75 maximum on Balance Transfer Checks included in your Welcome Package. Normal periodic Finance Charges apply from date of transaction unless subject to the 0% Introductory APR. Balance Transfers may not be used to make payments to any Beneficial or HSBC credit card, including any GMCard, Corvette MasterCard, Union Plus Credit Card, Household Bank or Orchard Bank Credit Card, or to pay a loan made by any other HFC, Beneficial or HSBC company.
Overlimit Fee: $35. Accessing the full amount or most of your available credit may result in an overlimit fee.
Late Fee: The late fee will vary based on the amount of your total outstanding balance on your Payment Due Date, or during the period up to 5 days after your Payment Due Date, as determined by us, and will be: $19 if your balance is $100 or less; $29 if your balance is more than $100 up to and including $1,000; or $39 if your balance is greater than $1,000.
Please visit : www.gmcard.com