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The rewards points holders of cobranded General Motors Corp. credit cards have accumulated are safe for now, despite the automaker's bankruptcy filing earlier this month. The U.S. Bankruptcy Court for the Southern District of New York, which is handling the reorganization, last week affirmed that GM rewards-point programs would be maintained, a GM spokesperson tells CardLine. But the bankruptcy filing has caused ripples of concern among credit card customers accumulating points toward purchasing new GM vehicles and parts. A spokesperson for HSBC Card Services, which issues the GM Flexible Earnings MasterCard and the GM Extended Family MasterCard, tells CardLine it is reassuring concerned customers that their GM cards are still good. HSBC offers answers to frequently asked questions about the bankruptcy filing's effect on GM card rewards points on its Web site but refers questions about earning and redeeming points to GM, which administers the program. A spokesperson for JPMorgan Chase & Co., which issues the GM Business World MasterCard, tells CardLine the issuer is not seeing any increase in customer call volume related to fallout from GM's bankruptcy filing. On its Web site, GM says credit card rewards points associated with its cobranded cards will be honored "in accordance with program rules." HSBC's GM Flexible Earnings card enables cardholders to earn 1% cash back, 1% toward any new vehicle or 3% toward an eligible new GM vehicle; its Extended Family card provides similar benefits for GM employees and suppliers. Chase's GM Business World MasterCard enables cardholders to earn 1% on all purchases and 3% back on purchases of office supplies, gas, dining, and GM parts and service at GM dealers.
