With automotive costs skyrocketing the previous 2 years, the Scotiabank GM Visa Infinite Card had an honest deal the place we are able to earn 5% money again (on the primary $10,000) on GM purchases.
Sadly, the cardboard has been discontinued, efficient June 15, 2022 to new prospects. However present card holders can proceed to make use of their card.
Under are the highlights of the Scotiabank GM Visa Infinite Card.
- $79 annual charge
- Earn 5% money again in GM Earnings on the primary $10,000 spent yearly on all purchases
- Earn 2% money again in GM Earnings on all purchases after the primary $10,000 of purchases yearly
- Money again for use for the acquisition worth or lease of a Chevrolet, Buick, GMC, or Cadillac
It’s too dangerous that this card is being discontinued, however in the event you do lease a automotive that may profit from the 5% bonus, I might advocate to hold on to the cardboard when you nonetheless can. I say lease as a result of not all automotive dealerships enable bank card funds of $10,000 when buying a automotive. Moreover, it’s not like we buy a brand new automotive yearly.
Right here is how the mathematics breaks down: web $421 in money again yearly ($10,000 x 5% – $79) on the 5% money again bonus.
I’m unhappy to see this card discontinue as a result of it does scale back the aggressive within the general bank card market.