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General Motors Plans New GM Credits Cards 
General Motors Corp.is putting some new muscle behind the GM Card in an effort to broaden its appeal. John Smith, GM group vice president, North America vehicle sales, service and marketing, said Thursday the GM Cards will be offered to small business owners. In addition, GM also plans to offer an updated version of the card to the company's employees, dealers, retirees and qualified suppliers. "With the introduction of these new products, and the support of our bank partners, GM is looking forward to extending the fundamental value proposition of The GM Card - to save toward the purchase of 'gotta-have' GM products - to millions of consumers, small business owners and GM family members throughout the country," Smith said.
Since it was introduced in 1992, The GM Card has helped sell four million GM vehicles, GM officials noted. Jack Bowen, general director of GM Card, said the decision to offer a card specifically aimed at small businesses grew out of GM's experience with its own fleet customers. Small businesses using the GM credit card under the new service will be able to save money towards GM vehicles, Bowen said.
"If you spend $50,000 a month on GM card, you will qualify for one new, $30,000 vehicle every five years," said Bowen, who added that GM won't cap the savings under the program. The target market, however, extends beyond GM's fleet customers to all small businesses, he said. GM also will now offer the GM Extended Family Card to employees, retirees, dealers and qualified suppliers. The new extended family card will allow owners to combine unlimited 1 percent earnings with GM's New Vehicle Purchase Program discounts and use them toward the purchase or lease of a new GM vehicle. In the past, GM had placed restrictions on the use of the rebates from GM Card and employee discounts in the same transaction, Bowen said.
General Motors Corp.is putting some new muscle behind the GM Card in an effort to broaden its appeal. John Smith, GM group vice president, North America vehicle sales, service and marketing, said Thursday the GM Cards will be offered to small business owners. In addition, GM also plans to offer an updated version of the card to the company's employees, dealers, retirees and qualified suppliers. "With the introduction of these new products, and the support of our bank partners, GM is looking forward to extending the fundamental value proposition of The GM Card - to save toward the purchase of 'gotta-have' GM products - to millions of consumers, small business owners and GM family members throughout the country," Smith said.
Since it was introduced in 1992, The GM Card has helped sell four million GM vehicles, GM officials noted. Jack Bowen, general director of GM Card, said the decision to offer a card specifically aimed at small businesses grew out of GM's experience with its own fleet customers. Small businesses using the GM credit card under the new service will be able to save money towards GM vehicles, Bowen said.
"If you spend $50,000 a month on GM card, you will qualify for one new, $30,000 vehicle every five years," said Bowen, who added that GM won't cap the savings under the program. The target market, however, extends beyond GM's fleet customers to all small businesses, he said. GM also will now offer the GM Extended Family Card to employees, retirees, dealers and qualified suppliers. The new extended family card will allow owners to combine unlimited 1 percent earnings with GM's New Vehicle Purchase Program discounts and use them toward the purchase or lease of a new GM vehicle. In the past, GM had placed restrictions on the use of the rebates from GM Card and employee discounts in the same transaction, Bowen said.
Is this really the case?