General Motors Company GM and Barclays US Consumer Bank have entered into a long-term agreement. Per the contract, Barclays will become the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard in the United States starting next summer. Per S&P Global Mobility, GM boasts the largest customer base among U.S. automakers and has led the industry in customer loyalty for nine years. These advantages have made GM's credit card portfolio, introduced in 1992, one of the longest-running co-branded credit card programs in the country, which attracted millions of dedicated customers.
GM Rewards cardholders can earn and redeem points on new Chevrolet, Cadillac, Buick and GMC vehicles, including GM’s new electric vehicle (EV) lineup, as well as on vehicle servicing and accessories. The new partnership with Barclays will offer cardmembers exclusive rewards and experiences that only GM can provide.
Per Paul Jacobson, executive vice president and CFO of General Motors, the company aims to make the GM Rewards Mastercard a favorite among consumers by offering high-value rewards and unique experiences. For Barclays, this deal will further expand its U.S. credit card portfolio, aligning with its strategy to partner with top American brands. As part of the partnership, Barclays will acquire the card program’s receivables from the current issuer next year.
Current My GM Rewards cardmembers can continue using their cards and will be notified with instructions before the transition to Barclays. The GM credit card program will remain exclusively under the Mastercard brand, which offers additional benefits to cardholders.
General Motors is swiftly advancing in its electrification journey. It aims to achieve improved sales and profitability in its EV business by reducing battery costs, introducing new models and scale expansion. General Motors’ existing and upcoming EV offerings, including Cadillac Celestiq, Chevrolet Silverado EV, Cadillac Escalade IQ, Chevrolet Blazer EV, Chevrolet Equinox EV, Cadillac Lyric, GMC Hummer EV SUV and pickup, GMC Sierra EV, Cadillac Optiq and BrightDrop Zevo, are expected to drive the company’s EV momentum.
GM’s Zacks Rank & Key Picks
General Motors currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Modine Manufacturing Company MOD, BYD Company Limited BYDDY and Suzuki Motor Corporation SZKMY, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MOD’s fiscal 2025 sales and earnings suggests year-over-year growth of 8.44% and 18.77%, respectively. Earnings per share (EPS) estimates for fiscal 2025 and 2026 have improved by a penny and 8 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BYDDY’s 2024 sales and earnings suggests year-over-year growth of 21.88% and 17.12%, respectively. EPS estimates for 2024 and 2025 have each improved by a penny in the past 30 days.
The Zacks Consensus Estimate for SZKMY’s fiscal 2025 sales and earnings suggests year-over-year growth of 7.36% and 22.51%, respectively. EPS estimates for fiscal 2025 and 2026 have improved by 78 cents and 99 cents, respectively, in the past 60 days.
Infrastructure Stock Boom to Sweep America
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