General Motors and Barclays forge long-term credit card partnership

General Motors (GM) and Barclays have signed a long-term partnership agreement that positions Barclays as the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard in the United States. This alliance, set to take effect next summer, aims to enhance customer loyalty and engagement while bolstering Barclays’ footprint in the highly competitive US credit card market.

The partnership brings together GM’s extensive customer base—widely recognised as the largest of any automaker in the US—and Barclays’ expertise in developing successful partner credit card programmes. GM’s credit card portfolio, which dates back to 1992, is one of the longest-running co-brand credit card initiatives in the country, with millions of active users. The new agreement marks a significant step forward for GM as it seeks to further strengthen its customer engagement, particularly in the growing electric vehicle (EV) sector.

Paul Jacobson, GM’s Executive Vice President and Chief Financial Officer, emphasised the value of the partnership in creating unique opportunities for customers.

“Our goal is to make the GM Rewards Mastercard a card that consumers will love to use because of the reward value and unique experiences only GM can deliver. We’re bringing thousands of new customers to our family of brands every year, especially as we grow in electric vehicles, and we look forward to creating new opportunities to reward our most loyal customers,” said Jacobson.

Under the new partnership, GM Rewards cardholders will continue to earn points on their purchases, which can be redeemed for a wide range of GM products and services. This includes new Chevrolet, Cadillac, Buick, and GMC vehicles, as well as options for servicing and accessorising their cars. As GM moves deeper into the EV market, customers will also benefit from rewards linked to its electric vehicle offerings, enhancing the appeal of the rewards program for future customers.

For Barclays, this partnership is a critical element in its U.S. growth strategy. Denny Nealon, CEO of Barclays US Consumer Bank, highlighted the significance of partnering with GM, a leading name in American automotive history.

“Barclays is thrilled to partner with General Motors, a truly iconic brand that has defined our country’s love of the automobile for over a century. As a leading and experienced player in the U.S. partner card market, we look forward to helping GM create an industry-leading credit card product that unlocks new value for customers and drives successful business outcomes for GM,” Nealon said.

As part of the agreement, Barclays will acquire the card program’s receivables from its current issuer next year. Existing cardholders will be transitioned to the new GM-branded credit cards issued by Barclays, with further details provided ahead of the changeover. Importantly, the credit cards will remain under the Mastercard brand, ensuring cardholders continue to enjoy the additional benefits associated with Mastercard’s global network.

This partnership with GM signals a further deepening of Barclays’ commitment to expanding its U.S. credit card portfolio, building on similar arrangements with brands such as American Airlines and Gap. For GM, the deal underscores its focus on rewarding customer loyalty, with an eye on future growth, particularly in the fast-evolving EV market.

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