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Scotiabank® GM®* VISA* Card

Scotiabank® GM®* VISA* Card

Get closer to your new car with up to 5% in GM Earnings

Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$0.00 *$0.00 each Supplementary Card 19.99% 22.99% 22.99% Good 5.00% *maximum
  • Card Details Details
  • Our Review Review

Card Details

  • Get closer to your new car with up to 5% in GM Earnings

  • Earn 5% in GM Earnings on the first $5,000 spent annually, and 2% thereafter

  • $1 in GM Earning = $1 off the purchase price or lease of a new Chevrolet, Buick, GMC, or Cadillac

  • No earning or redemption caps

  • Rates, fees and other information are effective as of Sep 1, 2020. Subject to change.

*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

RateSupermarket.ca's Review

This intriguing credit card should be considered if you're likely to purchase a new car within the next few years. In a nutshell, every time you make a purchase on this card, you receive GM Earnings. Once you are ready to buy a new car, these GM Earnings are converted into cash savings against the purchase price of a new GM vehicle.

You're rewarded with GM Earnings wherever you choose to shop, and there is no limit to the amount you can earn or redeem. Based on the spending habits of the average Canadian over a two-year period, you can reasonably expect almost $900 off your next vehicle by using this program.

The card does have some additional benefits, including purchase security/extended warranty on new items, and discounts at some car rental locations. However, the real value comes from the savings you stand to enjoy against a new car purchase.

On top of this, the Scotiabank® GM®* VISA* Card does not charge an annual fee. If you are committed to buying a new car but are concerned about the cost, start using this card for your everyday purchases and see how much you can save.

Earning Potential: $887.02 in GM Earnings (discount on a new GM vehicle)

So, how does this card stack up to other rewards options? We crunched the numbers using our Best of Finance methodology to see how much you could earn over a 24-month period.

Assuming $1,222.96 is spent on the card monthly at eligible retailers in the following categories*:


Pharmacy Food Gas
$ 55.33 $ 758.53 $ 155.72**
Travel Other Monthly Total
$ 151.21 $ 102.17 $ 1,222.96


GM Earnings rewards earned over a 24-month period: $887.02 off a new GM vehicle.

*Source: Statistics Canada – amount spent by average Canadian each month
**Based on $1.00/litre gas prices



  • No annual fee!
  • A supplementary card is also free. A supplementary card enables a spouse or other family member to contribute towards your next auto purchase.
  • Earn up to 5% in GM Earnings on the first $5,000 spent annually, and earn 2% thereafter.
  • $1 in GM Earnings = $1 off the purchase price or lease of a new Buick, GMC, Cadillac or Chevrolet.
  • Your earnings do not expire so long as you maintain this credit card account. You can keep earning and saving towards your next car and redeem when you are ready.
  • Enjoy the peace of mind of purchase security and extended warranty for everything you buy with this card.
  • Do you have a favourite car brand? You can choose to personalize your credit card with one of five different card designs: GM, Cadillac, GMC, Chevrolet or Buick.
  • The minimum credit limit is only $500 so debt load is low.
  • As a cardholder, you are eligible for a 25% discount at select Budget and AVIS locations across Canada and the U.S.



  • This card does not offer travel insurance. If you are a frequent traveller, consider upgrading to the Scotiabank® GM® VISA Infinite Card and take advantage of the travel insurance benefits.
  • By its nature, this card is valuable if you are planning to buy a new car within the next couple of years. If this is not in your plan, you may benefit from a card with more flexible reward redemptions , like a cash-back program, for example.

Rate, product information and rewards estimate are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details

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