Save® Debit Invest Mastercard®
You spend $10, we invest $10 on your behalf
Updated: Feb 13, 2023
The Save Debit Invest Card is like no other. It offers unique services for people who want to invest in the long run. Depending on how much money you pay, the Save company matches the exact amount and invests in the market. It means that it doesn't take your money to make investments, it gives you.
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- An average 2.87% APY return since 2006
- Makes your spending work for you
- Market Savings and referrals are 2 more ways to ear Save
- Advanced Portfolio Design
- No cap on spending. Match on spending
- No Return, No Fee
- FDIC-insured checking account
- Service is provided by Lending Club Bank
When you’re signing up for Save, you’ll get a regular bank account, Save Invest Debit Mastercard, and an investment account. Your initial deposit is going to be 100% FDIC-insured. These accounts are beneficial because they’ll keep you and your money safe. You can choose a Plus or a Premium account. To get into the whole thing, your physical Save Debit Invest Mastercard will cost $5.
Save Debit Invest Mastercard is Best for
- Consumers interested in securities investments
- Investors looking for automated investments
- Consumers looking for higher returns on market investments
What Are the Advantages
The Save Debit Invest Card comes with significant advantages.
- Investing money in the market. The primary purpose of this debit card is that it invests money on your behalf. If you invest $100, Save matches that amount and invests $100 in your chosen security. Those can be popular stocks like Vanguard, iShares, SPDR, or Invesco.
- Receiving returns after a year of investment. After a little over a year of spending money on investing, you’ll receive returns. However, don’t mistake returns with the invested capital. You’ll receive about 3% of the annual return from the money Save invested minus the 0.59% fee.
- No PIN transactions. Unlike other accounts, Save accounts require no PIN transactions. When purchasing online, you will give your signature to confirm the purchase. That also applies to contactless transactions.
- Diversified portfolios. There are three types of portfolios you can choose from: Conservative; Moderate; and Growth. These portfolios are excellent because you can use them to your advantage. They’re beneficial concerning the annual returns. If you use the Growth portfolio and it’s a good year financially, you can receive a bit more return percentage than the usual 3%. However, remember that they can also range in risk amount, with a Growth portfolio being the riskiest one. When you undergo a sign-up process, Save will ask you questions to determine how risky your investments might be.
- Low-risk transactions. When you open your checking and investment account, you can rest assured that your funds will stay safe and secure. Since your initial deposit is FDIC-insured, you won’t be dealing with scams or fraud. You can also avoid debt while using your card.
- Unlimited spending. No matter how significant an amount you spend on a Save card, Save won’t have any problems investing the matched money. However, keep in mind that the management fee (0.59%) can rise depending on your amount.
- No fees if your returns are below the management fee. You don’t have to pay the 0.59% management fee if your returns are lower. That also applies if you don’t receive any returns.
- Referral rewards. Save has a referral program that helps you improve your investments. If your referral uses your referral link and spends $250, you will receive up to $5,000 each. You get $1,500 or $5,000 each, depending on your account (Plus or Premium).
What About the Drawbacks?
The Save Debit Invest Card has a few drawbacks to consider.
Minimum spend requirement
As already mentioned, Save can invest the money that matches your spent amount. However, that won’t work if you spend less money than what Save requires. You must use your card for at least $250 in monthly purchases to make the automated investment work. However, it’s not that big of a disadvantage. If you spend less than $250 during one month, Save will only exclude that month from investments. The rest of the months you spent at least $250 will count towards the money invested. Also, you can still use your bank account as usual.
More suitable for high-earning consumers
Since it requires a minimum of $250 a month for investments, Save may not be the most suitable option for low-earning consumers. It’s more appealing for bigger businesses or high-earning consumers of any age.
What Makes Save Debit Invest Mastercard Different
The Save Debit Invest Card is one of the first cards to invest on your behalf. If you belong in the higher-paying category, you can use the card for automated investing.
As the name suggests, this card invests in your investment account. If you pay $1, Save will invest $1 for you. However, that doesn’t mean you’ll give them an extra dollar to invest in your portfolio. Instead, they’re matching your spending amount and investing in the market for you.
The investing can last for a little over a year. The invested money gets transferred to your bank account (minus the 0.59% Save fee), and you keep all the returns. The expected annual return is about 3%, which can be acceptable. It means that you can earn from the money you’re already spending.
Similar Offers and Alternatives
- M1 Spend Visa Debit Card – no-fee digital banking account with rewards and investment options
- Aspiration Plus Spend & Save – $150 welcome bonus, up to 10% cash back, savings account, and low fees
- Yotta Credit Card – get 2,000 tickets, 20% tickets back for each purchase, no annual fee, and unique savings options
The Save Debit Invest Mastercard comes with many benefits, making investments for you and securing your funds. However, you would have to pay the required minimum to make it work. When you do, after a little over a year, the return percentage will go straight to your account. You can choose different portfolios to determine the risk of investments. Save will make sure you’re not going to face overwhelming risks. On the contrary, it will ask you to see which portfolio matches your needs best. This card is an excellent choice if you want to invest efficiently.
Frequently Asked Questions
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Additional Information & Comments
You would not get investment matching in the months you do not spend at least $250 or more