General Motors Co. (GM) and Barclays US Consumer Bank have announced a long-term partnership, effective from next summer. This collaboration positions Barclays plc as the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard within the United States.
With the GM Rewards cards, users will be able to earn significant rewards when purchasing new vehicles from GM's Chevrolet, Cadillac, Buick, and GMC brands, including their new line of electric vehicles. Cardholders will also have the opportunity to earn and use rewards for vehicle servicing and accessorizing.
This partnership aligns with Barclays' strategy to expand its U.S. credit card portfolio by partnering with leading American brands, a growth plan that was unveiled last February. Barclays will also acquire the card program's receivables from the current issuer in the upcoming year.
Current holders of the My GM Rewards card can continue using their cards for everyday purchases while earning rewards that can be redeemed for GM products and services. Details on transitioning to the new Barclays-issued GM card will be provided to cardholders before the transition takes place.
The GM credit card program remains solely under the Mastercard brand, offering a variety of additional benefits to card members. Launched in 1992, GM's credit card portfolio is one of the longest-running co-branded credit card programs in the U.S., boasting millions of loyal customers.
