GM BuyPower Capital One Credit Card Review

The no annual fee GM BuyPower card earns 5% cash back on the first $5,000 in a spending per account year. 

The BuyPower card also offers nice benefits such as cell phone insurance, price protection, purchase protection, and rental car insurance.

The card is currently issued by Capital One, but the card and cardholders are transitioning to Goldman Sachs by the end of 2021. 

Deals Points Card Rating:
3/5
Capital One GM Buypower card

GM BuyPower Card Information

Application Link: Capital One BuyPower Card.

Current Sign Up Bonus: 5,000 points (worth $25) if you first sign-up for the free GM Rewards program and then apply for the GM BuyPower card.

Annual Fee: No Annual Fee.

Earning Rewards:

  • 5% cash back up to $5,000 in spending every year (maximum of $250 back at 5%)
  • 2% cash back after the first $5,000 in spending each year.

Redeeming Rewards

You can only redeem cash back earned with the GM BuyPower card at GM Dealers for a purchase or lease of a new Chevrolet, Buick, GMC, or Cadillac vehicle.

Alternatively, you can redeem up to $250 in statement credits for in-dealership purchases of Certified Service, parts, accessories, or GM extra such as Sirius or OnStar subscriptions.

You can combine the GM College, Educator, First Responder, or Military discount. 

But you cannot use the GM Employee or Supplier discount with rewards from the GM BuyPower card.

Redeeming Cash Back of GM BuyPower Card

GM BuyPower Card Benefits

The GM BuyPower card offers nice MasterCard World Elite benefits such as cell phone insurance, price protection, trip cancellation insurance, and rental car insurance. 

Cell Phone Insurance

You and your family’s cell phones are covered from theft or damage when you pay your cell phone bill with the BuyPower Card.

The benefit is limited to $1,000 per year with $800 per claim, and there is a $50 deductible. 

Price Protection

If you find a lower price for an eligible item within 120 days of purchase, you can be reimbursed for the price difference.

Extended Warranty

This benefit doubles the original manufacturer’s warranty up to an additional year when you pay using your BuyPower card.

Purchase Protection

Eligible items purchased with the GM BuyPower card are covered from damage or theft for 90 days from purchase up to $1,000 per claim.

Luggage Insurance

Luggage insurance provide reimbursement, up to $1,500 per claim, for checked or carry-on baggage that is lost or damaged while traveling on a common carrier (airline, bus, cruise, etc.) and you paid for the ticket using the BuyPower card.

The coverage is limited to two claims per twelve month period.

Trip Cancellation and Interruption Insurance

Trip cancellation and interruption insurance provides reimbursement for you and yur family if your trip is cancelled or interrupted due to a covered reason and the trip was purchased with your BuyPower card.

A covered reason could include that you or an immediate family member got injured or very sick before or during the trip.

Secondary Rental Car Insurance

The BuyPower card offers secondary rental car insurance when you pay for your rental using the card.

The Verdict

The Capital One GM BuyPower option is a decent credit card if you know you plan on buying or leasing a new GM vehicle or you plan to redeem the cash back for GM in-dealership services.

But after you spend $5,000 on the BuyPower card in a year, which earns 5% cash back for the first $5,000, it is best to switch your spending to another credit card.

We suggest the no annual fee Citi Double Cash, which earns 2% cash back that can be used anywhere, instead of only at GM dealerships.