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GM BuyPower Business Card from Capital One® review

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Have a vehicle-dependent company that's constantly on the road? This may be the credit card for you.

  • Get this card if you have more than one GM vehicle and want to purchase another.
  • Pick something else if you want a variety of reward redemption options.
  • Apply with fair credit or better.

Up to 5x

Points

$0

Annual fee

0%

Intro purchase APR

for the first 12 months (then 16.99% variable)

740

Recommended credit score

Details

Product NameGM BuyPower Business Card from Capital One®
Card typeMastercard
Annual fee$0
Purchase APR0% intro for the first 12 months (then 16.99% variable)
Balance transfer APRN/A
Cash advance rate24.9% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $38
Additional cardholder fee$0

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The GM BuyPower Business Card from Capital One® by Capital One comes with accelerated rewards on GM parts, accessories or services purchased at authorized GM dealers, as well as purchases made at gas stations, office supply stores and restaurants.

Once you earn enough rewards you can redeem them toward your new GM vehicle. The cool thing is that you can combine your earnings with other vehicle offers. In addition, you get a long 0% intro APR period on purchases, which can help you save money on interest on large purchases.

On the downside, you don’t get to earn a signup bonus and you can’t redeem your rewards for anything other than GM vehicles. If you want to redeem your rewards for cash or travel, consider other credit cards.

Overall, if yor businesses has more than one GM vehicle — Chevrolet, Buick, GMC and Cadillac — and you want rewards toward leasing or purchasing new GM vehicles or adding additional equipment to new vehicles, this card is definitely worth considering.

Card benefits

  • Earning rewards.

    You earn 5% per dollar spent on all GM parts, accessories or services purchased at authorized GM dealers, 3% per dollar spent at gas stations, office supply stores and restaurants and 1% per dollar spent on all other purchases. You can redeem your earnings toward purchasing or leasing new GM vehicles or put them toward customizing your new car.

  • Intro APR on purchases.

    The 0% intro APR on purchases for the first 12 months, and 16.99% variable APR thereafter, may be useful for keeping down the costs of any big initial purchases. Keep in mind that if you make a late payment, Capital One may end your intro APR and impose a penalty APR of . Penalty APRs can last indefinitely.

  • No annual fee or foreign transaction fees.

    Your small business can save big in the long run with $0 annual fee and 0% fees to use your card internationally.

  • Mastercard perks.
    • Concierge service.
      You have access to 24/7 complimentary personal concierge service when you use this card.
    • Travel assistance.
      With World Mastercard perks, you get a set of complimentary benefits, upgrades, VIP status and premium travel offers.
    • Rental insurance.
      When you use this card to pay for your rental vehicle, Mastercard rental insurance covers damages and theft of the vehicle.
    • Mastercard easy savings program.
      You can save up to 25% on qualified purchases at participating merchants in the Mastercard easy savings program. You can save on hotel, restaurant, fuel and maintenance and travel-related purchases.

What is the GM BuyPower Business Card from Capital One® Rewards program?

Rewards break down into three categories:

  • Earn 5% per dollar spent on purchasing GM parts, accessories and services at authorized GM dealers.
  • Earn 3% per dollar spent at gas stations, at office supply stores and restaurant purchases.
  • Earn 1% per dollar spent on all other business purchases.

If you’re planning to make a large purchase early on, presumably to acquire GM vehicles, you may find the 0% intro APR on purchases for the first 12 months valuable. The APR on purchases is 16.99% variable after the promotional period ends. However, Capital One may end your intro APR early and impose a penalty APR of if you’re late on a payment.

What to watch out for

  • No balance transfer APR.

    The GM BuyPower Business Card from Capital One® has no balance transfer feature. If you’re looking to transfer your debt from another card, compare balance transfer cards.

  • No variety for redeeming rewards.

    You won’t find an option to use your earnings to redeem airline tickets, gift cards or to get cashback rewards. Your earnings can only be applied towards the lease or purchase of a new GM vehicle.

  • Penalty APR.

    If you make a late payment, you may lose your intro APR on purchases and you may have to pay a penalty APR of . The penalty APR has the possibility of sticking around indefinitely, too.

What should I know before I apply?

When you apply for the GM BuyPower Business Card from Capital One®, you’ll have to provide information about yourself and your business, including:

  • Business name and address
  • Year the business was established
  • Legal structure
  • Whether your business legally formed in the US
  • Whether your business is headquartered in the US
  • Whether your business is based in the US
  • Business ownership type
  • Annual business revenue
  • Industry type
  • Business Tax ID number (TIN)
  • Personal information of the credit card owner, including annual income, residence type and monthly mortgage or rent amount

How to apply for the GM BuyPower Business Card from Capital One®?

  1. Go to the BuyPower card website.
  2. Select the GM BuyPower Business Card from Capital One® and click Apply Now.
  3. Complete the application form with all the required information on your business and the employee who will receive the card.
  4. Review your application and submit it.
  5. Alternatively, you can apply by phone at 1-800-458-4165.

What credit score do I need?

You can apply with a fair business credit score, but to increase your chances of getting approved, it’s better to apply with a good credit score or higher.

Compare business credit cards

Name Product Rewards Purchase APR Annual fee
Ink Business Preferred® Credit Card
3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases
15.99% to 20.99% variable
$95
100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening. That's $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards®
Ink Business Cash℠ Credit Card
5% at office supply stores, on Internet, cable and phone up to $25,000 combined annually (then 1%), 2% on gas and dining up to $25,000 combined annually then 1% after that and on all other purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months.
Ink Business Unlimited℠ Credit Card
1.5% cash back on all purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$0
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.
United℠ Business Card
2x miles on United, restaurants, gas stations, office supply stores, local transit and commuting, and 1x miles on all other purchases
16.49% to 23.49% variable
$0 intro annual fee for the first year ($99 thereafter)
Earn 75,000 miles once after spending $5,000 in your first 3 months.
Universal Premium Mastercard®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
27.24% variable
Up to $120
Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.
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What size business is the GM BuyPower Business Card from Capital One® good for?

This card is designed for small businesses that have one or more GM vehicles, including those from the Cadillac, Buick, GMC or Chevrolet lines. The value comes in especially if your company spends thousands of dollars at gas stations, office supply stores, restaurants or on vehicle maintenance — and you’re loyal to the GM brand.

You can redeem the earnings you build over time toward a new GM vehicle purchase or lease, or to customize your new purchase.

For example, let’s say that your monthly business expenses are:

Monthly expenseEarnings percentageEarnings
GM maintenance: $2,0005%$100
Gas stations: $6,0003%$180
Restaurants: $1,5003%$45
Office supply stores: $1,5003%$45
All other purchases: $5,0001%$50
Total spending: $16,000 per monthTotal earnings: $420 per month

Total spending in this scenario is $16,000 per month or $192,000 per year, with total earnings of $420 per month or $5,040 per year. Your earnings never expire as long as your account is open, so if you renew your GM vehicles every four years, you can use your accumulated earnings any time or at the end of those four years. In our example, four years of earnings would get you $20,160, which you can use as a down payment, to lower your monthly payment or to add optional equipment toward a new GM vehicle.

GM BuyPower Business Card from Capital One® reviews and complaints

Capital One has been accredited by the Better Business Bureau (BBB) since 1995. As of this writing, the credit card provider gets an A+ rating and a composite score of 3.79 out of 5 stars, based on more than 150 customer reviews — 90% of which are negative. Customers in general complain of poor online support, issues disputing unauthorized credit card charges and problems receiving monthly bill statements.

Meanwhile, others praise the credit company for helping those with poor or no credit get a credit card, giving them a chance to rebuild their credit score.

I got the card. Now what?

  • Avoid paying fees. Make timely payments to avoid penalty fees, which can be up to $38. Late payments can also result in Capital One ending your intro purchase APR period before the 12 months are up. You may also be charged a penalty APR of , which can last indefinitely.
  • Contact customer service. Call BuyPower’s customer service team at 1-800-446-5347 with any questions you may have.

Bottom line

A vehicle-dependent small business will likely get more out of the GM BuyPower Business Card from Capital One® than any other. The more GM vehicles your company has in use, the more you’ll benefit from this card.

If you’re a small business owner with more than one GM vehicle and you spend thousands of dollars each month at gas stations, restaurants and office supply stores, then GM BuyPower Business Card from Capital One® may be the right card for you.

Before you apply, you may want to compare your credit card options. Another card may have a better set of features, APR or fee structure that makes more sense for your particular business.

Frequently asked questions

Images: buypowercard.com

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