With automobile costs skyrocketing the previous 2 years, the Scotiabank GM Visa Infinite Card had a good deal the place we will earn 5% money again (on the primary $10,000) on GM purchases.
Sadly, the cardboard has been discontinued, efficient June 15, 2022 to new clients. However current card holders can proceed to make use of their card.
Beneath 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 unhealthy that this card is being discontinued, however if you happen to do lease a automobile that may profit from the 5% bonus, I might advocate to hold on to the cardboard whilst you nonetheless can. I say lease as a result of not all automobile dealerships permit bank card funds of $10,000 when buying a automobile. Moreover, it’s not like we buy a brand new automobile yearly.
Right here is how the mathematics breaks down: internet $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 total bank card market.