*** Updated New Info: GM Credit Card Holders....a change could be in your future

[sccredit]

Looks like September according to this

https://www.thebalance.com/goldman-sachs-named-issuing-bank-of-gm-credit-cards-5095743

[James3]

Goldman Sachs will be the issuing bank for GM’s credit card programs, with a targeted start of September 2021. Mastercard will remain the network of choice for the offerings.

Maybe Goldman Sachs can convince me to use this card for something. The GM card is definitely the least useful of my cards.

[designated_knitter]

Boy, the Cap1 Buypower card was absolute garbage -- an Elite MC that gave everyone starting limits of 300 bucks!  (wooo, don't spend it all in one place!). And it never grew either.  Maybe after 200 years, you might be able to afford a decent discount on a car...

If the sale of this card is anything like when Cap1 sold the Sony card to Comenity last year, it is a good thing.  In the 3 years that I had the Sony card with Cap1, I only got 1 or 2 small CLIs to bring it up to a 2200 total CL.  It took a year before Comenity gave me a CLI but they gave me an auto CLI of 500 bucks in November.  Since then, I have hit the luv button twice and it is now sitting at 4900 bucks!  

It does make you wonder if Cap1 is in trouble since this is at least the 2nd co-branded card they have sold off in 2 years.

I realize Goldman Sachs is most definitely not Comenity but seriously, they couldn't be any worse than Capital 1

[Anonymous]

@designated_knitter Maybe they are in trouble and that is actually why they have become so utterly tight...?

[FinStar]

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@Anonymous wrote:

@designated_knitter Maybe they are in trouble and that is actually why they have become so utterly tight...?

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Quite the contary @Anonymous, GS is doing pretty well, Capital One is not "in trouble" + the GM consumer cards contract was due to be renewed.  So, whichever party offered the most attractive or competitive bid (plus a number of other key factors in the purchase) was the one that won the contract.

[Goos]

Don't mean to disturb an old thread , but anyone heard anything ? We are running out of September . Just curious to see the offering and maybe apply . 

[ChargedUp]

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@Goos wrote:

Don't mean to disturb an old thread , but anyone heard anything ? We are running out of September . Just curious to see the offering and maybe apply . 

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Evidently the move is still in the process. New apps aren't being accepted until after the new lender has taken over.

https://www.gmcard.com/gmrewardscards/?intcmp=bpc_Homepage 

[Goos]

Yeah , I was hopeful someone had an update . The articles all sad September but I guess , just have to be patient . Not my strongest attribute . 

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@ChargedUp wrote:

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@Goos wrote:

Don't mean to disturb an old thread , but anyone heard anything ? We are running out of September . Just curious to see the offering and maybe apply . 

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Evidently the move is still in the process. New apps aren't being accepted until after the new lender has taken over.

https://www.gmcard.com/gmrewardscards/?intcmp=bpc_Homepage 

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[FinStar]

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@Goos wrote:

Yeah , I was hopeful someone had an update . The articles all sad September but I guess , just have to be patient . Not my strongest attribute . 

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@ChargedUp wrote:

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@Goos wrote:

Don't mean to disturb an old thread , but anyone heard anything ? We are running out of September . Just curious to see the offering and maybe apply . 

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Evidently the move is still in the process. New apps aren't being accepted until after the new lender has taken over.

https://www.gmcard.com/gmrewardscards/?intcmp=bpc_Homepage 

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@Goos 

I currently have the card and no communications as of yet on the potential GS integration.  So, it may take a bit for current cardholders to learn of any upcoming changes.

[Red1Blue]

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@FinStar wrote:

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@Goos 

I currently have the card and no communications as of yet on the potential GS integration.  So, it may take a bit for current cardholders to learn of any upcoming changes.

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I am in the market for new car. I know the Car and Credit Card Applications are different. Where does new applications for new GM Card go. Does the new applications go to GS for approval? I'll check out GM Card website and see what it says.