The Owner's Reward Credit Card by M1 is a cashback card that caters to investors. It helps them earn cash back on everyday purchases and up to 10% additional money when buying products or services from companies they've invested in through M1 Finance, thus building long-term wealth.
Your first three months of M1 Plus is free.* Get exclusive features and discounts to help you build your wealth.
3 tiers reward program: 2.5%, 5%, or 10% cash back when you shop at select merchants
Earn 1.5% on every other dollar spent
You can reinvest rewards or redeem them as a cash
2 account levels - M1 and M1 Plus
No annual fee for 1 year, then $95 or $125 for the M1 Plus account
Powered by Deserve and issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.
Owner’s Rewards Card is Best for
Passive investors interested in building long-term wealth;
Investors looking for favorable cashback rewards;
Investors already shopping at companies in the 5% and 10% cashback rewards categories;
M1 Finance users investing in individual securities.
What Are M1 Owner’s Rewards Card Advantages?
This cashback credit card offers favorable benefits to cardholders.
Up to 10% cash back on eligible purchases
You can earn back up to 10% cash when buying products or services from eligible companies you’ve invested in using an M1 Invest account. The standard cashback baseline for all everyday purchases is 1.5%, regardless of the merchant. However, you can add extra cash when spending at select merchants. The three cashback tiers include:
Netflix, Tesla, Dropbox, Spotify, Peloton, Lululemon, Adobe, etc.
* – Terms & Conditions apply
The Owner’s Rewards Program includes over 70 brands, with the list constantly expanding. However, M1 refreshes it periodically according to investment popularity.
No annual fees with an M1 Plus membership
This card has a hefty $95 annual fee, but you can use it for free with an active M1 Plus membership. The membership has a $125 annual fee, but the first year is fee-free. Paying more gives you additional benefits, including:
Four monthly ATM fee reimbursements instead of one;
Lower interest rates if you open an M1 Borrow account to borrow against your investments.
This credit card also has a variable APR that’s pretty low compared to most premium credit cards. Another plus is no foreign transaction fees.
Reinvesting rewards into an M1 portfolio
You can redeem your cashback rewards by transferring them to your M1 Spend account, but you can also reinvest them into your underlying securities for continuous growth. M1 automatically reinvests them into your portfolio (it calls it a “Pie”) depending on your target percentages for each slice – every eligible company you’ve invested in using your M1 Invest account. You can allocate a minimum of 1% of your rewards to each, and they should add up to 100%.
Here’s an example: you have four companies in your investment portfolio, and you set your Pie to spread the rewards equally across all those companies. If you’ve earned a monthly cashback of $200, you’ll reinvest $50 (25%) of your cashback into each company. You can include individual assets or multiple Pies into a single Pie. You can also choose the so-called “Expert Pie” with various investment strategies.
Visa Signature Benefits
The Owner’s Rewards card is a Visa Signature credit card from FDIC-insured Celtic Bank. Some of the numerous Visa Signature® benefits1 include:
Zero liability policy;
ID Navigator for identity theft protection;
Emergency card replacement;
Travel and emergency assistance services;
24/7 customer support;
Luxury Hotel Collection for exclusive benefits at prestigious hotels;
The sleek, metal card supports mobile (Google Pay and Apple Pay) and contactless payments.
Are There Any Disadvantages?
No credit card is perfect. Add rewards to it, and you’re bound to disappoint some users. Here are the most significant Owner’s Rewards card’ features that may be a deal-breaker for some people.
Maximum $200 cashback per month. You can’t earn more than $200 in cashback rewards on eligible purchases per calendar month. That may not be as much as you hope to gain or reinvest.
A high annual fee without an M1 Plus membership. If you don’t want to pay for an M1 Plus membership, you must pay a hefty $95 annual fee. The membership cost may be higher but offers additional benefits you might use. Late and returned payment fees are also pretty high, and M1 will charge high interest if you miss a payment. Moreover, it will immediately report your activity to Experian, negatively affecting your credit score.
Strict eligibility requirements. You must meet a few eligibility requirements2 to get the Owner’s Rewards Card by M1. They include: having an active M1 Invest account, having at least a good credit score (700-749), and, an address that is in one of the 50 US states (US territories are not supported yet). However, using the card for purchases at select merchants doesn’t guarantee cashback rewards. You must own at least a fractional share of an eligible company and invest in it using a qualified M1 Invest account. Custodial and trust accounts don’t fall into that category. This limitation means you can’t snatch the rewards for, for instance, Apple purchases (besides the standard 1.5% cashback) unless you have Apple in your M1 portfolio.
What Makes M1 Finance Owner’s Rewards Card Different
The Owner’s Rewards Card isn’t your regular rewards card. It’s a unique product for investors looking to earn like business owners. Besides saving on your purchases, it lets you support your favorite brands and boost wealth in the long run.
M1 Finance offers3 a dedicated mobile app for iOS and Android to streamline its users’ automated investing and direct trading. The Finance Super App is intuitive and offers digital banking, margin lending, and fractional shares trading. You can also use it to manage and freeze your card and customize your trading strategies while enjoying the lack of account management fees and trading commissions.
Another advantage of using this card is the SIPC (Securities Investor Protection Corporation) insuring up to $500,000 worth of securities in M1 Invest accounts.
Competition and Alternatives
Save Wealth Plus – replaces rewards with investments, $10K signup investment bonus, up to 4% APY average return, and $2,5K investment per referral
The M1 Owner’s Rewards Card is excellent for passive investors looking to build long-term wealth. It can help them automate reinvestments from savings on frequent purchases with companies in which they own stock. The annual fees may be off-putting, but you can avoid them with the M1 Plus membership and enjoy additional benefits. Investors looking to build an investment portfolio should look for solutions other than a rewards credit card. This one doesn’t connect with brokerage platforms, but ties to your M1 Invest account. You must buy and hold individual stocks in select companies to receive and preserve the best rewards. Additionally, M1 Finance periodically refreshes the company list, making it challenging to keep track of investments.
Frequently Asked Questions
Who is eligible for the Owner’s Reward card?
Only users with an active M1 Invest account who live in a US state (US territories are not supported) are eligible for this card. They also must have a good-to-excellent credit score.
How can I apply for the M1 Owner’s Reward card?
You must first sign up by clicking the “Apply Now” button for an M1 Invest account and provide information on your annual income, housing type, and housing expenses. You can then apply for the card on the official website or app, and M1 will pre-fill some of the details using your account information. If you have a security freeze on your credit report, you’ll have to contact Experian to lift it temporarily before applying. You can expect the card within 7–10 business days if you receive approval.
Does M1 run a credit check for the Owner’s Reward card applications?
M1 runs a soft credit inquiry that doesn’t affect your credit score. If you receive provisional approval and accept the offer, the company will run a hard credit inquiry through Experian.
Are there daily spending limits?
This card has no daily spending limits. However, your credit limit will affect how much you spend monthly.
Is an M1 Plus membership worth it?
If you think its additional features will benefit you, paying extra for an M1 Plus membership is worth the cost. Its valuable perks can help you maximize savings and investments, so the additional $30 might be worth it.
* - Your free trial (a $31.25 value) begins the date you enroll in the M1 Plus subscription and ends 90 days after ("Free Trial"). Upon expiry of the Free Trial, your account is automatically billed an annual subscription fee of $125 unless you cancel under your Membership details in the M1 Platform.
** - Must own securities in a qualified M1 investment account as explained in M1's Owner's Rewards Terms & Conditions to be eligible for 2.5%, 5%, & 10% categories.
*The information provided for Owner's Rewards Card by M1 Finance is believed to be accurate at the time of evaluation or recent update on July 13, 2022. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.
Owner's Rewards Card by M1 Finance
Owner's Rewards Card by M1 Finance
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