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In reply to the discussion: Retail Workers Bear Brunt Of Sluggish Holiday Sales [View all]exboyfil
(17,865 posts)that does my GM Credit Card. I try to time my purchases so that I can have a maximum rebate when I go to buy a car. A couple of years ago they dropped me down to $300 credit limit. I am looking at buying a new car in about 7 years (the full cycle for the credit card rebate). i contacted them this morning, and they would not raise my limit even though I have very good credit.
It seems odd since they tie me into being GM for my next car purchase. The 5% represents the best deal I can get out there (you spend $10,000/yr for 7 years and have $3,500 rebate). Time it at the end of year close out of the current model cars, and you can do pretty well. Since I buy cars closer to 12 year cycles, I have several years of inactivity before I kick it up again.