Link:
http://gmtv.feedroom.com/iframeset.jsp?ord=701928
HFS is introducing a new GM Card - and for the first time you can use your earned points towards the purchase of any other vehicle from any other manufacturer.
That's correct: Your GM Card earnings can now go towards a Honda, Nissan, Toyota or VW for example!
However - A bonus exists should you choose a GM product.
Details:
DETROIT– Consumers who want to acquire a GM Card, one of the richest co-branded credit cards in existence, but who also want more flexibility in how they can use their earnings now have a new option.
The GM Flexible Earnings Card will allow cardmembers to earn a full one percent on all their credit card purchases. GM will triple these earnings when they are applied toward the purchase or lease of a new GM vehicle. Alternatively, cardmembers will have the option of redeeming their one-percent earnings for the purchase of any other new vehicle or for cash. This new card can be used anywhere MasterCard is accepted and will be available Sept. 29. The GM Flexible Earnings Card is issued by HSBC Bank Nevada, N.A. and has no annual fee.
The GM Flexible Earnings Card joins the suite of credit card products for various customer segments offered by GM Cardmember Services. These products include the GM Card, the GM Extended Family Card for GM employees, suppliers and relatives, and the GM Business Card for small business owners.
“General Motors is expanding the success of the GM Card by offering consumers the Flexible Earnings Card, which gives them more rewards options,” said Jack Bowen, general director, GM Customer Relationship Management.
“This new credit card is yet another feature of GM’s Total Value Promise strategy for the 2006 model year. GM is making a promise to consumers to provide industry-leading value by offering the best vehicles possible at the best possible price. The Flexible Earnings Card represents one more way that GM is delivering on that promise,” Bowen said.
“GM has been a great partner and we are pleased to have a part in providing this innovative card for consumers,” said Walter Menezes, group executive at HSBC Card Services.
Features of the new GM Flexible Earnings Card include a full one percent earnings on all purchases, which can be redeemed for any new or used vehicle make or for cash. These earnings will be tripled to a full three percent if applied toward the purchase or lease of a new Chevrolet, Pontiac, Buick, GMC, Cadillac or Hummer vehicle.
“The redemption options for new GM vehicles, other new or used vehicles, or cash back offers consumers the best of both worlds, as it gives them choices if they do not want to commit to a specific brand years in advance, or decide not to purchase a new vehicle at all,” Bowen said. “From GM’s perspective, this will expand the number of potential GM Cardmembers and enable us to talk to more people on a regular basis about GM’s great lineup of cars, trucks, SUVs and cross-over vehicles.”
Bowen said that the new GM Flexible Earnings Card’s cash-back feature now also enables GM Cardmembers to use their Earnings to purchase vehicle service, accessories and other items from GM dealers.
The GM Card has bolstered GM’s bottom line over the past 13 years by helping to sell or lease nearly five million vehicles. There are currently six million GM Cardmembers.