MCLEAN, Va. & DETROIT — Capital One and General Motors, along with Mastercard, have announced a multi-year extension of their co-brand card partnership and the launch of the new GM Card from Capital One.

The new GM Card from Capital One offers consumers 5 percent earnings on their first $5,000 worth of net card purchases annually, as well as unlimited 2 percent earning on all other purchases. It comes with no annual fee and offers no limits on the rewards consumers can accumulate and redeem toward the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.

Since its launch in 1992, GM Card earnings have been redeemed toward the purchase of nearly 7 million new GM cars, trucks, SUVs and crossovers.

“Our customers have never had a better or bigger lineup of new Chevrolet, Buick, GMC and Cadillac models to choose from to meet their needs,” said Chuck Thomson, general manager of GM retail sales and marketing support. “We are introducing 27 new or refreshed cars, trucks and SUVs in 2013 and 2014 – an average of one per month – and the new GM Card is the key for customers to put one in their driveways.”

The new GM Card, designed in collaboration with the General Motors global design staff, features a vertical card design and is available in five options, including a universal design, as well as four division card designs featuring Chevrolet, Buick, GMC and Cadillac.