Comments on: Is It Time To Part Ways With My GM Visa Card? http://www.myfindependenceday.com/is-it-time-to-part-ways-with-my-gm-visa-card Personal Finance Advice for 30 Somethings and Beyond Sun, 18 Sep 2011 00:21:40 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: CC http://www.myfindependenceday.com/is-it-time-to-part-ways-with-my-gm-visa-card#comment-1280 CC Tue, 22 Dec 2009 17:51:08 +0000 http://www.myfindependenceday.com/?p=925#comment-1280 I got rid of the GM VISA as soon as the terms of service changed so that you couldn't indefinitely accumulate points, as barb unfortunately found out. But I did so after I reduced the points accumulated by purchasing two new GM vehicles over the course of six years. I had accumulated enough points in each case to offset the depreciation experienced by driving a new car off the dealer's lot. So I figured I got each brand new car for the purchase price of about a six-month old vehicle. I also chose to take the extended warranty on the more expensive (to buy and to repair) vehicle and that warranty more than paid for itself a couple times over. I'm now using credit cards that either offer cash back (MBNA Platinum Plus Smart Card - no annual fee) or offer money back for any travel-related purchases (TD Infinite Travel VISA - no annual fee with the select service TD bank account). I got rid of the GM VISA as soon as the terms of service changed so that you couldn’t indefinitely accumulate points, as barb unfortunately found out. But I did so after I reduced the points accumulated by purchasing two new GM vehicles over the course of six years. I had accumulated enough points in each case to offset the depreciation experienced by driving a new car off the dealer’s lot. So I figured I got each brand new car for the purchase price of about a six-month old vehicle. I also chose to take the extended warranty on the more expensive (to buy and to repair) vehicle and that warranty more than paid for itself a couple times over. I’m now using credit cards that either offer cash back (MBNA Platinum Plus Smart Card – no annual fee) or offer money back for any travel-related purchases (TD Infinite Travel VISA – no annual fee with the select service TD bank account).

]]> By: barb http://www.myfindependenceday.com/is-it-time-to-part-ways-with-my-gm-visa-card#comment-1275 barb Tue, 27 Oct 2009 16:22:50 +0000 http://www.myfindependenceday.com/?p=925#comment-1275 TD GM VISA CARD SUCKS!!! After 7+ years accummulating GM points (can't afford to buy a new vehicle yet) they start DEDUCTING POINTS !!! Sure, it's in the contract, what a RIP ...thanks TD for getting all my interest for all these years and then GM & TD just take away the points. This month I earned 13 points and had deducted 79 points. THIS SUCKS !!!!!!!!!!!!! TD SUCKS !!!!!!!!!!!!! I called GM Points center and the guy was so obstinate about "your fault madame you didn't read the small print".. I feel violated!!!!! Thanks TD for nothing and GM for even less. TD GM VISA CARD SUCKS!!! After 7+ years accummulating GM points (can’t afford to buy a new vehicle yet) they start DEDUCTING POINTS !!! Sure, it’s in the contract, what a RIP …thanks TD for getting all my interest for all these years and then GM & TD just take away the points. This month I earned 13 points and had deducted 79 points. THIS SUCKS !!!!!!!!!!!!! TD SUCKS !!!!!!!!!!!!! I called GM Points center and the guy was so obstinate about “your fault madame you didn’t read the small print”.. I feel violated!!!!! Thanks TD for nothing and GM for even less.

]]> By: mfd http://www.myfindependenceday.com/is-it-time-to-part-ways-with-my-gm-visa-card#comment-450 mfd Tue, 14 Apr 2009 05:44:43 +0000 http://www.myfindependenceday.com/?p=925#comment-450 @Alan - Ya I think I've come to that conclusion as well. I still a bit concerned about applying for additional credit since my fico score is now on the mend. @Alan – Ya I think I’ve come to that conclusion as well. I still a bit concerned about applying for additional credit since my fico score is now on the mend.

]]> By: Alan Schram http://www.myfindependenceday.com/is-it-time-to-part-ways-with-my-gm-visa-card#comment-443 Alan Schram Tue, 14 Apr 2009 03:03:54 +0000 http://www.myfindependenceday.com/?p=925#comment-443 As much as it might suck to lose 5 years of credit card benefits, if you are never going to use it, drop it as soon as you can. There's no point in losing 6 or 7 years to a crappy rewards card. I just signed up for the Capital One Platinum cash back card (0.5% to 3k/year, 1% after that on all purchases). One month later I'm sitting at about $9 earned, just for using the card. Also, no annual fee. I also never keep a balance, so I don't know what the interest is. Probably around 19% or so, but that doesn't bother me, I always pay it off in full. As much as it might suck to lose 5 years of credit card benefits, if you are never going to use it, drop it as soon as you can. There’s no point in losing 6 or 7 years to a crappy rewards card.

I just signed up for the Capital One Platinum cash back card (0.5% to 3k/year, 1% after that on all purchases). One month later I’m sitting at about $9 earned, just for using the card. Also, no annual fee.

I also never keep a balance, so I don’t know what the interest is. Probably around 19% or so, but that doesn’t bother me, I always pay it off in full.

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