GM VISA card

General Motors of Canada has raised the bar on its competitors with the launch of a new visa credit card in conjunction with the Toronto-Dominion Bank.The GM Visa card rewards its users by giving them a rebate on their purchases that...

General Motors of Canada has raised the bar on its competitors with the launch of a new visa credit card in conjunction with the Toronto-Dominion Bank.

The GM Visa card rewards its users by giving them a rebate on their purchases that can applied against the purchase or lease of a new gm car

The card, the first to be launched by an auto maker in Canada, is expected to be available in May. Applications will distributed through gm dealerships and td bank branches.

When consumers use the card to make a purchase, five per cent of the amount spent is to be funneled into a special rebate account. Consumers can accumulate up to $500 a year or $3,500 over seven years .

Additionally, gm and td intend to sign on corporate partners willing to kick in another five per cent rebate. So card holders who use their cards to purchase goods or services from the corporate sponsors will receive a rebate worth 10% of their purchase.

Canadian corporate partners have yet to be announced.

Tom Mason, vice-president of marketing for gm of Canada, said at the press launch that being first on the market with such a program sends a message to consumers that the auto maker is a leading-edge company.

Ron Fabbro, vice-president of Hughes Rapp Collins in Streetsville, Ont., the direct response and data base marketing firm that runs customer loyalty and retention programs for Air Miles, Toyota Lexus, Bell Canada and others, says gm has taken automotive marketing to a new level of competitiveness with the launch of the new loyalty program.

Fabbro says being first in the market in situations such as this creates the most impact and usually brings the most success.