OT: GM Mastercard

I know I have about $1700 that I want to let my Dad use.

Not likely they would allow free transfer of those benefits. No one else does. Cards that allow cash benefits get 1%. Even the GM card used by GM Employees gets only a 1% benefit.

I hear what you're saying. But where's the harm? GM gets to sell a car that maybe they wouldn't have anyway. The money was made, fair and square.

And I have the good, OLD one, that I can use on any vehicle. Not the *new*, crappier one.

Pardon me for jumping in here. I, too, have an "old type" GM card. They tried like heck to get me to switch to the new one, but I didn't go for it. But, what is the difference between the new and the old. It's not real clear to me.

Jump away.

Old card has a cap of either 3500 or 4500. But it's for any GM car. If the Nova is $13,000 you get it for 9000. New one has a ranging cap that slides up higher with the more expensive luxury cars. BUT, you get lower or nothing on the cheaper ones.

Like Ford, Chevy calculated that they were too generous, and made an "enhancement". Ford dropped their card all together, GM just screwed the customer a little more.

As far as I recall.

At one time, stopping to buy gas at Mobil was an extra 5 or 10 percent. That went away in a hurry.

OK. Thanks for explaining that to me. It's probably covered in the fine print somewhere on their Web site, but it either eluded me or else I didn't understand it. Glad I still have my old style card now that you cleared up the mystery for me.

Yeah, in between reading all the prospectuses you get for your investment portfolio.

I have the old card too (blue) and the way I understand it is: up to $500 per year in a 7 year period. therefore if maxed out at $500 per year x 7 = $3500. I have used mine twice in its lifetime.

That may be more accurate than my description.

I've used it only once. You have to use the money 90 days after you cancel the account.

I have the old gold card. It was up to $1000 per year for 7 years but was eventually dropped to $500. Still has the $7000 cap though, and the next use for a purchase, my third, will be its last.