While the My GM Rewards Card is tied specifically to GM dealerships, it has some broader benefits that could be worthwhile for cardholders. The rewards rates are great for GM vehicle owners who use the dealership services but also want a card that can be useful for general purchases.

The card_name could be a valuable addition to your wallet if you’re considering purchasing a GM vehicle—especially if you’re already a GM owner. The card offers impressively high rewards, no annual fee, and statement credits you can use to reduce your car-ownership costs.

The GM Business Card offers plenty of value for businesses with a fleet of General Motors vehicles, but not much value for anyone else. You'll enjoy healthy earning rates with no annual fee, but minimal perks and redemption options for those who don't spend a lot with GM.

The My GM Rewards Card won't let you earn a new car, but it does let you save up rewards to make a hefty down payment. How? By rewarding you for every dollar you spend. If you're a GM enthusiast who is always trading up, this card probably sounds like a good deal. Like anything else, however, the devil may be in the details.

Depending on your needs and purchasing habits, the My GM Rewards® Mastercard® may be a good deal. But, just like purchasing a car, it's a good idea to shop around and see what else is out there when it comes to choosing a credit card. Here are some other options to consider.