The BuyPower Card from Capital One Can Help Put You Behind the Wheel of a New Corvette

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The BuyPower Card from Capital One Can Help Put You Behind the Wheel of a New Corvette


The following post was sponsored by Capital One. All opinions are my own and not directed by Capital One. Unless noted otherwise in this post, Capital One is not affiliated with, nor is it endorsed by, any of the companies mentioned. All trademarks and other intellectual property used or displayed are the ownership of their respective owners. To learn more about the BuyPower Card from Capital One, visit: www.buypowercard.com

I’ve been aware of the BuyPower Card from Capital One for some years now, but the skeptic in me thought it would take a lifetime to generate enough Earnings to make a dent in the price of a new car, let alone a $50,000+ Corvette.

But then I was offered a unique opportunity to visit Las Vegas for a special card member event and meet with other GM vehicle owners who have the BuyPower Card in their wallets. These were regular, everyday people who had redeemed their Earnings towards new GM vehicles, and they were invited to Las Vegas to participate in a VIP culinary experience and a two-day trip out to Spring Mountain Motorsports Ranch and Motor Resort to learn how to drive Corvettes on the track!

And since one of the aspects of Corvettes that we focus on here at CorvetteBlogger.com is buying and selling, I decided to take a closer look at this unique program that could help you save thousands when planning for your next new Corvette purchase.

Today’s consumers have many options when it comes to choosing a credit card for personal or business use. There are cards that give airline miles, while others do cashback. But there is only one card that can help get you behind the wheel of a new Corvette and that’s the BuyPower Card.

Now, you might be saying, “A credit card that rewards you with Earnings towards a new Corvette? What’s the catch?”

Actually, there really isn’t a catch that we’ve been able to find, so we dug deeper into the program for more details.

The BuyPower Card is a rewards card that becomes a savings plan toward a new GM vehicle once you start using it – ideally leveraging your daily spending. If you plan to purchase or lease a new Chevrolet, Cadillac, Buick or GMC in the future, your Earnings will continue to accrue until you are ready to redeem them.

One of the easiest ways to start earning is with your everyday purchases.

To give you an example, you probably have monthly expenses like a cell phone bill, cable TV or other regular charges. And let’s not forget about the things you’re buying every day like food, gas, personal items, or paying for business expenses. Instead of writing a check or using your Bank ATM card or bill pay service, shifting those regular payments over to the BuyPower Card could result in Earnings from these everyday expenses that will go towards your new GM vehicle.

In addition, many businesses, like cell phone companies or cable TV operators, offer discounts or other savings if you enable automatic bill pay (my cable service provides a discount on my bill for having this enabled). Plus, you’ll get the simplicity of combining these expenses into this single credit card bill each month, so there can be added benefits. As always, just make sure you have the necessary funds to pay your monthly bill.

Let’s take a look at some of the key features of the BuyPower Card:

Earnings

The BuyPower Card gives cardmembers 5% Earnings on the first $5,000 in purchases every year, and then 2% unlimited Earnings on all purchases after that. Every year, this resets so that you start again with the 5% up to $5,000 and then the 2% unlimited Earnings afterwards.

These Earnings don’t expire and as mentioned previously, there are no limits to how many Earnings you can receive.

Redemptions and Fine Print

Earnings generated from your use of the BuyPower Card are redeemed at your chosen GM dealership (All General Motors dealers participate in the program). So when you are ready to purchase or lease a new GM vehicle, go to the dealership of your choice and start the car-buying process.

You are not required to inform the dealer upfront that you plan to redeem your Earnings, and any rebates, incentives or special offers that are available can be bundled with your Earnings.

Your Earnings can be used to purchase or lease the vehicle outright, you can apply your Earnings as a discount off the total price, or you can use them as a down payment to lower your upfront, out-of-pocket costs.

The BuyPower Card has a 12-month 0% APR for the first year and then goes to a variable rate of 13.15% to 23.15% depending on rates and your credit history. There is no balance transfer fee.

The Experience

Back in Las Vegas, our group of loyal BuyPower card members enjoyed a private culinary experience at five-star restaurant on the Las Vegas Strip.

BuyPower card members enjoyed a private culinary experience at a five-star restaurant on the Las Vegas Strip


The menu featured more than a dozen Spanish dishes, but by far the star of the restaurant was the open-fire wood grill with huge skillets to cook paella.

The next day, the group headed out to Spring Mountain and the Ron Fellows High Performance Driving School where for the next two days they would learn to drive the Corvette Stingray on 2.2 mile North/South track configuration.

A little bit of rain wasn’t enough to dampen the enthusiasm from many in the group for whom this was their first time driving a C7 Corvette. As always, we come away impressed with the instructors and facilities of Spring Mountain.

BuyPower Card members on the track at Spring Mountain and the Ron Fellows High Performance Driving School BuyPower Card members on the track at Spring Mountain and the Ron Fellows High Performance Driving School

The BuyPower Card sounds like a great way to start saving toward your next new GM vehicle. It was interesting to hear the real-life experiences of BuyPower card members who saved and redeemed their Earnings towards new GM vehicles including a Chevy Corvette Z51 Stingray, a Chevy Tahoe and a Cadillac Escalade.

Want to learn more? For more information about the BuyPower Card, including rate and fees, visit BuyPowerCard.com.