BuyPower Business Card™ Review
BuyPower Business Card™
CardRatings Editor's Analysis: Pros & Cons
- With earning rates of 5% for the first $5,000 spent each account year and 2% on everything after that, you stand to rack up rewards at a decent clip.
- Rewards can only be redeemed toward the purchase or lease of a new GM vehicle, so you can think of this card as a sort of savings plan for your next vehicle.
- Take advantage of zero interest on purchases for the first 12 months with this card.
- This isn't a traditional cash-back card – you can't redeem for cash directly into your wallet or bank account – so if you're looking for literal cash rewards this isn't the card for you.
GM BuyPower Card from Capital One® Essentials
With the BuyPower Business Card™, everyday purchases - even putting gas in your current car - will help you out when it comes time to purchase or lease your next car.
BuyPower Business Card™ card members receive 5% back on their first $5,000 spent with the card each account year and 2% back on every dollar spent beyond that. Those rewards can then be redeemed toward the lease or purchase a new Chevrolet, Buick, GMC or Cadillac vehicle. With no limit to the amount of earnings you can accumulate or redeem toward your new vehicle, and with no expiration date on your earnings, the BuyPower Business Card™ is a good option for those looking to save for their next car purchase without even thinking about it.
Plus, CardName cardholders can combine earnings with current GM offers and incentives, allowing cardholders to maximize benefits and savings.
GM BuyPower Card from Capital One®'s most notable features:
- 5% earnings on every dollar spent up to $5,000 each account year.
- Unlimited 2% earnings on every dollar spent over $5,000 each account year.
- No annual fee, no redemption limits, no balance transfer fee, no earning expiration dates and no foreign transaction fees.
- Additional savings are available when you combine your earnings with current GM offers and incentives.
- 0% intro APR on purchases for the first 12 months.
- Earn 20% back on Amazon.com purchases on the Card within the first 6 months of Card Membership, up to $200 back.
- Plus, earn $150 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership. You will receive cash back in the form of statement credits.
- $0 intro annual fee for the first year, then $95.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
What Our Editors Like Most about the GM BuyPower Card from Capital One®
The BuyPower Business Card™ is unique in that it gains you earnings to be used specifically towards the leasing or purchasing of a new vehicle, but while some other rewards cards are limited to point gain only on select purchases, the BuyPower Business Card™ allows you to earn points on every purchase made, making it an appealing option for those looking to use the card for everyday purchases.
Keep in mind that this isn't a cash-back card, per se, and there's no option to redeem points directly back into your bank account or wallet, but that also means you won't be tempted to spend your rewards on anything other than that next new car purchase or lease.
With 5% earnings on the first $5,000 spent, and 2% earnings on everything beyond that, BuyPower Business Card™ cardholders can quickly and easily gain earnings to use towards leasing or purchasing a new Chevrolet, Buick, GMC, or Cadillac vehicle. Even if you only collect 5% on the first $5,000, you'll earn $250 a year in rewards. Make this your go-to credit card and you stand to accumulate substantially more.
BuyPower Business Card™ cardholders have the opportunity to use earnings toward upgrade options like leather seats, remote keyless entry or premium sound systems, allowing members to enjoy luxury perks of a vehicle they might not otherwise be able to experience without those BuyPower Business Card™ points.
Furthermore, with no annual fees, no redemption limits and no earnings expiration dates, the BuyPower Business Card™ could be a good choice for those looking to use the card long term to accumulate earnings over an extended period of time. Since cardholders have the ability to gain 5% back on $5,000 each year, long-term use of the card allows GM BuyPower Card from Capital One® cardholders to maximize point earnings, making it a good option for those looking a few years ahead to their next new car.
Potential Downsides of the GM BuyPower Card from Capital One®
While no earning expiration dates could be beneficial for those BuyPower Business Card™ cardholders who are in no hurry to cash in on their points, those looking to quickly redeem their earnings might not like the 2% earnings rate that cardholders earn after spending their first $5,000. Cardholders can quickly earn their first $250 once they reach that $5,000 level, but after that, it will take more than double the spending (just over $12,000), to accumulate the same earnings with the 2% earnings rate.
Furthermore, this isn't really an "instant-gratification" cash-back card; in fact, it's not a literal cash-back credit card at all -- more of a niche cash-back card. The only option for redeeming your rewards is during the purchase or lease of a particular make of vehicle, so if you aren't sure you'll be buying one of those vehicles in the future, this card's rewards could go unused.
Additionally, though GM BuyPower Card from Capital One® cardholders can combine earnings with current GM offers and incentives, earnings may not be combined with the GM Employee Purchase Program, GM Supplier Discount Program, GM Employee QRD Purchase Program/Company Owner Vehicle Program, Credit Union Member Discount from GM, or any other GM BuyPower Card or GM Card Product Earnings Program, including GM Business Card Earnings. While this is unlikely to affect most BuyPower Business Card™ members, it could be a disadvantage for GM employees and for anyone participating in these programs looking to maximize their benefits and savings.
How the GM BuyPower Card from Capital One® Compares to Other Rewards Cards
GM BuyPower Card from Capital One® vs. Chase Freedom Unlimited®
With no annual fees and an earning rate of 5% on travel purchased through Chase, 3% on dining at restaurants, 3% at drugstores and 1.5% on all other purchases, Chase Freedom Unlimited® is a good option to consider for those not specifically interested in applying earnings toward the purchase of a car.
Similar to the GM BuyPower Card from Capital One®, the Chase Freedom Unlimited® card allows you to gain earnings on all purchases made, making it a good choice for those looking to benefit from using the card for everyday expenses. Furthermore, new cardholders earn 5% cash back on up to $12,000 spent at grocery stores (excluding Target and Walmart) in the first year. And, also like with the GM BuyPower Card from Capital One®, Chase Freedom Unlimited® rewards do not expire as long as the account stays open.
Lastly, the Chase Freedom Unlimited® card is a traditional cash-back credit card in that you can redeem your rewards for cash as well as for a variety of other travel, products and services.
GM BuyPower Card from Capital One® vs. Bank of America® Travel Rewards credit card
Looking for the flexibility to redeem points towards flights, hotels, vacation packages, cruises, rental cars, and baggage fees? While the GM BuyPower Card from Capital One® and the Chase Freedom Unlimited® card are good card options for cash back and car purchase earnings, the Bank of America® Travel Rewards credit card is a worthy contender for those looking to earn great travel rewards by using their credit card.
The Bank of America® Travel Rewards credit card earns you an unlimited 1.5 points per dollar spent on all purchases, and 25,000 bonus points after spending $1,000 in the first 90 days of opening an account.
Also like the GM BuyPower Card from Capital One® and the Chase Freedom Unlimited® card, the Bank of America® Travel Rewards credit card has no annual fee, and points do not expire as long as the card is active. It also has no foreign transaction fees, making it a viable option for frequent international travelers.
GM BuyPower Card from Capital One® vs. Fidelity® Rewards Visa Signature® Card
If you're in the market for a card that helps you save, but aren't necessarily in the market for a new car anytime in the next several years, you might want to consider the Fidelity® Rewards Visa Signature® Card.
Fidelity® Rewards Visa Signature® Card members can get unlimited 2% cash back into an eligible Fidelity account to either spend or invest. Your rewards can be deposited directly into one or several Fidelity savings accounts, including Fidelity-managed 529 College Savings plans, brokerage accounts, IRAs and retirement accounts. That means your purchases today could casually build up in your savings for the future.
Up for grabs is also a $100 bonus offer you can receive after spending $1,000 within the first 90 days of opening an account.
There's no annual fee for the Fidelity® Rewards Visa Signature® Card, but you will pay a 1% foreign transaction fee for each purchase made while abroad.
Who Should Get This Card?
Though the BuyPower Business Card™ does not offer much flexibility in how you can redeem your earnings, it does gain points on all purchases, which makes it a practical card to keep in your wallet if you are looking to lease or purchase a new Chevrolet, Buick, GMC or Cadillac vehicle in the next several years. It has low fees, so there's no worry of offsetting fees with your earnings each year.
With 5% earnings on every dollar spent up to $5,000, and 2% on every dollar spent after that each year, the BuyPower Business Card™ is an ideal choice for those loyal to the GM brand and who are looking to accumulate earnings long term to apply to upgrade options or the lease or purchase a new GM vehicle.