issues with gm card

[THE BIGPUNN]

has anyone had problems with their gm card interest? ive had my card for 5 years now and i have bought 3 gm vehicles using my 5% back and have received about $3,000 back. i recently built a house and used the card for many purchases and paid the purchase off once i received money from the bank. after the house was done i bought my wife her envoy. i have never been late on a single payment but in december they raised my interest rate almost double what it was before. so i call them, the service rep agreed with me that i have great payment history. (i feel credit is everything!) she said a letter was sent to notify me of the interest rate change. i dont recall getting this. anyway she puts in a request to lower it back cause she could not find a reason why it was raised! i get a letter denying the lower. i just sent them a check and completely paid off the balance! i wonder if they are trying to get money back from me for what they have given me back using my 5%. anyone else with trouble.

[Black02Silverado]

No problems here, but then they probably hate me anyway because I pay it off every month.

 

My card is getting ready to max out at the $3,500 here at the end of next year. Not sure what we will be getting to use that money. Since I have the Jetta I don't use the truck much so it is still in great shape, the wifes Venture is getting to be well used and will have close to 200k on it by then but we don't like the Uplander at all, it seems to have less room than the Venture does and we need the low stance and slidding door for our one daughter that has special needs.

[gave20]

I never carry a balance on my GM or Cabelas cards. If they want to pay me for using their card that's fine with me. I do remember hearing in the news though, credit card companies are now allowed to raise or double their current rates; some new law passed by congress.

[tbyrne]

Yup, they can pretty much do what they want and not really tell you why. I'd push the issue with them.

 

The GM Cards work very well for people that pay them off monthly and buy a GM vehicle every few years. I have the GM Business card and use it often. I'm up to about $6500. to be used towards my next vehicle. That will be built in a couple of weeks

 

Tom

[RyanbabZ71]

hmmm I have no idea on mine havent really noitced. I pay mine off monthly. I just put my eye surgery on my credit card just to get the points. Maybe later this summer I am going to look seriously into a tahoe.

[ShakinLM7]

Do you guys 5% back on the money you spend toward the GM vehicle or does that apply to anything you buy with the card? I have a Sam's Club Discover card that I bought thinking I would get 2% of everything I put on the card but come to find out its only on stuff I buy at Sam's Club and its only 1% cash back on most everything I buy.

[THE BIGPUNN]

i get 5% on mine. i called and spoke to another rep on the phone. what happened was they pulled an annual credit report and i got put into high risk cause of two house loans. we sold the old house but the first mortgage co has not reported paid off yet.

[tbyrne]

I only get 1% of purchases but there is no cap to the amount that I can use towards a vehicle. I believe some versions of this card have a cap depending on the vehicle. I wanted to work up to getting a free car but couldn't hold out that long I'm thinking that I will charge the new truck when it comes in. That will be like getting another $500.00 off.

[1999 Tahoe 4x4]

I had problems with them too. Despite my more than excellent credit rating and my frequent usage of the card they kept lowering my available balance to $ 000305.- !!! (threehundred and five)

 

The only reason why I did not cancel the card is because I have more than $500.- on earnings toward a new GM and because it is free to keep in the drawer. Seems to be GM Card has a looser way to do business. I did not call no GM rep, I'm not going to fight for "their" business. If they want to increase my available balance I won't let them do it any more. It is best not to deal with stupid people.

[GeoHawk]

My GM Card has the worst interest rate by far of any card I carry. It doesn't bother me to use it though since I pay everything off each month.