Guest: NightStar
Post subject: GM Credit Card TermsPosted: Sun Nov 16, 2003 6:47 pm
http://www.gmcard.com/GMCard/index.jsp
The GM Card®
You earn 5% on GM credit card purchases which is redeemable on the purchase or lease price of a new GM car, truck or SUV (excluding Saturn, Saab and HUMMER). There are no limits to the amount of Earnings you may acquire within an Account Year. Unless used or terminated under The GM Card 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, GM Card Earnings accumulated from the first year will expire and GM Card 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 GM Card, you will earn 5% on your first two Balance 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 additional Balance Transfer Checks and Convenience Checks unless otherwise expressly disclosed. Use of The GM Card and The GM Platinum Card is subject to The GM Card Earnings and Redemption Allowance Program Rules which will be supplied to all new Cardmembers following receipt of their GM Card. GM and Household reserve the right to change the program rules, regulations and rewards.
**Vehicle Redemption Allowances
Base Redemption Allowances are established for the duration of that vehicle model year and may change based on such things as promotional offers and new model year introductions. Redemption Allowances should not be less than $1,000 as long as The GM Card Earnings and Redemption Allowance Program remains in effect.
Annual Percentage Rate (APR) for Purchases
Premium APR: Variable 9.99%1, 13.49%1, or 15.49%1 as of 11/1/03, depending on your creditworthiness.
Minimum Premium APR:
9.99%, 13.49%, or 15.49%.
Other APRs
Balance Transfer APR:
Fixed 0%2 (for the first six billing cycles of your Account).
Cash Advance APR:
Variable 19.99%3 as of 11/1/03. (Minimum Cash Advance APR: 19.99%).
Variable Rate Information
Your Premium APR may vary. The variable rate is determined by adding the Index plus 4.99%, 7.99%, or 9.99% ("Spread") depending on your creditworthiness. 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 rate 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 Purchases
No periodic Finance Charges are assessed on new credit card purchases if the New Balance is paid in full each month within 25 days after billing.
Method of Computing the Balance for Purchases
Average Daily Balance (including new purchases) Method.
Annual Membership Fee
None.
Minimum Finance Charge
$.50 in any billing cycle in which a periodic Finance Charge is payable.
Cash Advance Fee Finance Charge:
3% on all cash advances including Convenience Checks, unless otherwise disclosed ($15 minimum). Normal periodic Finance Charges apply from date of transaction.
Balance Transfer Fee Finance Charge:
3% for advances by Balance Transfer Check unless otherwise disclosed ($15 minimum). This fee will be waived on Balance Transfer requests permitted at the time of application or on the Balance Transfer Checks included in your Welcome Package, provided the checks post within 60 days of opening your Account. Normal periodic Finance Charges apply from date of transaction unless subject to the 0% Introductory APR.
Overlimit Fee:
$29. Accessing the full amount or most of your available credit limit may result in an overlimit fee.
Late Fee:
The late fee will vary based on the amount of your total outstanding balance as of the close of your billing cycle as follows: $15 if your balance is $100 or less; $25 if your balance is more than $100 and up to and including $1,000; and $35 if your balance is greater than $1,000.
1. The variable Premium APR will be based on your creditworthiness and will apply to credit card purchases and cash advances made by credit card check.
2. The Balance Transfer APR is fixed for Balance Transfer Checks for the first six billing cycles of your Account, as long as a Minimum Payment is received and posted to your Account by the end of the current billing cycle. After the first six billing cycles of your Account, or if a Minimum Payment is not received and posted to your Account by the end of the current billing cycle, the APR for balances from these Balance Transfer Checks and for other Balance Transfer Checks will change to the variable Premium APR.
3. At all times, the variable APR for cash advances, excluding cash advances made by credit card check and Balance Transfers subject to the 0% APR, will be based on the Index (see Variable Rate Information) plus 10.49% ("Spread"). Cash advances may be limited.
Currently payments are generally applied to interest, fees and then principal balances, lowest rate first. The application of payment is subject to change at any time, without notice.
To receive certain credit limit amounts, you will need to provide documents evidencing your income. If you do not provide such documentation, you may receive a lower credit limit. Total credit limit available on all combined accounts issued by any Household® entity, including Household Finance Corporation (HFC), Household Retail Services (HRS), Household Credit Services, Inc., Household Credit Services (II), Inc., Household Bank (SB), N.A., and any Beneficial® entity (including any Household Bank® credit card account, any GM Card, Corvette® MasterCard®, Union Plus® Credit Card, Orchard Bank® Credit Card, or any of their lines of credit) may not exceed $50,000.
The GM MasterCard credit card will be issued by Household Bank (SB), N.A. (referred to as "Household Bank", "we", "us" or "our" above), in Las Vegas, Nevada, and serviced by its affiliates, Household Credit Services, Inc., and/or Household Credit Services (II), Inc. The GM Card Earnings and Redemption Allowance Program is offered by General Motors Corporation.
MasterCard is a registered mark of MasterCard International, Inc. The GM Card, Chevrolet, Corvette, Pontiac, Oldsmobile, Buick, Cadillac, GMC, Yukon Denali, Silverado, Grand Prix, Blazer, Park Avenue and Seville are registered trademarks of General Motors Corporation. "Aurora" is used with permission of Hankook Tire. The GM Platinum Card and What are you charging toward? are service marks of General Motors Corporation.
The information about the costs and benefits of the card described in this Application is accurate as of 11/1/03. This information may have changed after that date. To find out what may have changed, write to: Household Credit Services, Inc., P.O. Box 80084, Salinas, CA 93912-0084. You understand that if based upon our review you do not qualify for The GM Platinum Card, you will be considered for The GM Card with the same terms.
CardRatings.com is the most comprehensive source for
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Guest: Verne
SENIOR MEMBER (Member for 2 yrs.+)
Post subject: GM Credit Card TermsPosted: Sun Nov 16, 2003 6:52 pm
GM ben berry berry good to me.
Frequent credit limit increases.
Low interest balance transfers without fees.
berry berry good.
Guest
Post subject: GM Credit Card Terms Posted: Mon Nov 17, 2003 5:52 am
They keep on sending me pre-approved offer. But I don't know about Household Bank, Orchard Bank, and HSBC.
Guest: Randysbarb
Post subject: GM Credit Card TermsPosted: Mon Nov 17, 2003 7:02 pm
Hey nightstar:
May I make a suggestion? I would like to see what criteria is needed for each card in order to be approved. Like scores, negs, bk friendly, etc. If that's not possible, I understand. Just my opinion and thanks for reading.
