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GENERAL MOTORS OPEN ITS ONE MILLIONTH GM CARD ACCOUNT

 GENERAL MOTORS OPEN ITS ONE MILLIONTH GM CARD ACCOUNT
 DETROIT, Oct. 8 /PRNewswire/ -- General Motors opened its


one millionth GM card account yesterday, less than one month after it launched the new MasterCard on Sept. 9.
 "GM has signed up one million credit card customers faster than any other credit card in history, and during an unbelievable time of competition within the industry," said Ronald Zebeck, managing director of GM's Credit Card Operations. "People understand the value of the GM Card, and for the 14 million people who buy a new car this year, the GM Card can make that purchase easier than ever before," he added.
 The GM Card features a 5 percent rebate on purchases that can be used toward the purchase or lease of a new GM vehicle. Plus, cardholders may earn a 10 percent rebate if they use the GM Card with Corporate Partners such as Avis, MCI and Marriott. The GM Card also features no annual fee and a 16.4 percent APR.
 "The GM rebate account rolls over for seven years, so if you're thinking about buying a car in the next few years, the GM Card makes a lot of sense," Zebeck said. "We actually issued the one millionth card about a week ago." he added.
 The first GM car was also bought on Wednesday using a GM rebate earned from the GM Card. A GM Cardmember in Jacksonville, Fla. used a $250 rebate earned by transferring balances from another credit card towards the purchase of a Buick Park Avenue.
 -0- 10/8/92
 /CONTACT: Nancy Maffucci of General Motors Corp., 212-213-7080/
 (GM) CO: General Motors Corp. ST: Michigan IN: AUT FIN SU:


TS-KW -- NY068 -- 7892 10/08/92 13:13 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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