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GM business card: Offering corporate-style rewards to small
and mid-sized businesses, General Motors and Chase announce
the launch of the GM Business Card from Chase. This new co-branded
MasterCard offers small to mid-sized businesses outstanding
vehicle savings and the type of strong online reporting capabilities
that today's business owners need to keep an eye on the bottom
line.
The GM Business Card provides customers with a variety of
reward components. GM business card accounts will be automatically
enrolled in the earnings program, and will earn 1% on all
purchases made anywhere MasterCard is accepted — over
30 million worldwide locations. In addition, customers will
earn an additional 1% (for a total of 2%) on GM parts and
service purchases at authorized GM vehicle dealers. Accounts
will be charged 2.99% on balance transfers for 6 months, and
will receive 2% earnings on balance transfers for the first
60 days after account opening.
All earnings from employee accounts roll-up to the business
owner's account, for personal or business redemption. There
are no annual limits on earnings, and no limits on the amount
of earnings that can be redeemed toward the purchase of eligible
GM vehicles. As an added benefit, all transactions will appear
on one consolidated statement, which will help business owners
streamline expense reconciliation and fleet reporting. GM
business card features include the flexibility of designating
spending limits and categories for employees, consolidated
central billing statements and online account access, reporting
and payment capabilities.
“We see tremendous potential in a product designed
for small business owners, who are some of GM's best and most
loyal customers. The GM Business Card offers the best of both
worlds — the personal benefits of a consumer-oriented
credit card and the detailed control and reporting capabilities
of a business credit card,” said Jack Bowen, general
director, GM Customer Network. “As a leading provider
of financial services to the business community, Chase was
the perfect partner to launch this product, which will make
it even easier for our fleet customers to do business with
GM.”
“Business owners want to 'earn' even though they are
spending,” said Rajive Johri, executive vice president,
Chase Cardmember Services. “For businesses that rely
on their vehicles, this card is a smart expense management
tool that will get them into a new GM vehicle faster.”
General Motors has 7,100 authorized vehicle dealers nationwide
where cardmembers can redeem their earnings as well as apply
for the card. To apply for the GM business card, business
owners may visit any authorized GM vehicle dealer.
In addition to earnings, the GM business card also offers
cash access at more than 900,000 ATMs worldwide and services
including Auto Rental Insurance, Medical Assistance, Legal
Assistance, Travel Accident Insurance Coverage up to $500,000
and Extended Warranty/Purchase Protection.
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