If Capital One’s confrontational Viking commercials weren’t enough, maybe the potential for thousands in new car purchase discounts will sell you on signing up.
General Motors announced a new credit card today with Capital One and Mastercard that offers holders five percent earnings toward the purchase of a new GM vehicle. Users can gather up to $5,000 at five percent every year. After that, the rate lowers to two percent but can accumulate uncapped at that pace for the rest of the year.
There are no annual fees and the rewards don’t expire. Over the course a few years, someone who spends heavily could wind up with a free car. More realistically, it could cover your downpayment.
This is the most generous GM Card since the company began offering it 21 years ago. Capital One card partnerships executive Bill Cilluffo said the card sets “a new standard in this category.”
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