Review: BuyPower Credit Card

The BuyPower Card is a credit card issued by Capital One that lets you earn rebates that you can put toward a new Chevrolet, Buick, GMC, or Cadillac vehicle. (It is the current version of what was once known as the GM Card.) The card’s application has this to say about the possibility of instant approval: “Get a decision in as little as 60 seconds.”

The BuyPower Card offers you rebates on all of your purchases, which are then collected into an account that can only be used for the purchase or lease of a new vehicle, so there is no flexibility in how these rewards get used. If you decide you don’t want a Chevy, GMC, Buick, or Cadillac, you have no other options to use your rebates.


That said, the upside here is that the rebate is super generous, way better than you’d get with any regular cash back card. You get:

  • A 5% rebate on your first $5000 in card purchases each year
  • A 2% rebate on all card purchases beyond $5000

So, as an example, if you spend $10,000 in a year with the card, you’d earn $350 that you could put toward a new vehicle.

You can choose to use those rebates to lower the overall cost of the vehicle or to make the down payment on a new vehicle. You could also use them for upgraded options at the time of purchase, though this is essentially the same as lowering the vehicle cost.

There is no annual fee for the BuyPower Card. It also has no foreign transaction fees when used outside of the United States. The card’s interest rate will depend on your credit history: you could be offered a rate as low as 13.9% or as high as 23.9%. Either way, don’t carry a balance with this card or the interest you pay will essentially cancel out some or all of the rebates that you earn.