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The Offer
- Capital One is offering up to $2,000 in Bonus Earnings on the BuyPower credit card. Bonus earnings can be used on the purchase or lease of a new GMC or any other GM vehicle. Bonus is broken down as follows:
- Spend $5,000 in 3 months and get $500 in bonus earnings
- Spend $50,000 in 6 months and get $1,500 in bonus earnings ($2,000 total)
Card Details
- Card earns at the following rates:
- 5% Earnings on purchases of GM parts, accessories and service at authorized GM Dealers
- 3% Earnings on purchases at gas stations, restaurants and office supply stores
- 1% Earnings on all other purchases
- Valid until 9/30/19
Our Verdict
The bonus earnings is applied after any negotiated discounts or publicly available rebates (basically treated like cash). Another thing reader Curmudgeon mentioned is that they frequently send out offers for $1,000 in bonus earnings (no spend required but the bonus earnings do need to be spent in the next few months). If you spend the $50,000 required it’s basically like earning 5% back on all purchases (4% from the bonus and then another 1% from the regular earning rate). OK deal if you’re planning on purchasing a new GM vehicle anyway and have no issues meeting minimum spend requirements. For most people this offer is simply not worth considering, bit of a tough sell with the recent Capital One data breach as well. If you’re seriously considering this card then read these things everybody should know about Capital One credit cards.
Hat tip to reader Curmudgeon
Is a benefit of this card that my business details can be stolen at no cost?
Is it 4% earning? 4% of 50k is 2k (1.5k bonus + 500 on the original 1%)
You get a minimum of 1%, plus the $2k bonus, so on $50,000 spend you’ll get a minimum of $2500 in rewards. If you spend at gas stations, restaurants, office supply or GM dealers you’ll get more than that.
Got me all excited until I read about the redemption option…
GM accounts for about 20% of all new car sales each year in the US, so a lot of people would benefit from this.
I see a lot of people swooning over the Amtrak card offer, but it’s worthless to me because no one takes a train in my area.
If you’re planning on buying a new GM vehicle soon, this is a pretty great deal. You can MS the entire $50k and come out way ahead of the fees with the bonus.
click on my name on the “hat tip” line and it will take you to the everything you need to know page. I think he just put the link in the wrong spot.
Fixed thanks