What is the M1 Finance Credit Card?
When you’re looking for a card that will give your money more stability and security, the M1 Finance Card is an excellent choice. This card offers rewards from purchases which go back into your investment account with M1 Finance – where they can grow even bigger! The cool thing about this service? You’ll get between 1.5-10% cash back on all of your purchases.
About the Card
How to sign up: To sign up for the M1 Finance Credit Card, you must already have an M1 Finance account which can be created through their website. Once you have an M1 Finance account set up, you can apply for their credit card.
Rewards: A unique feature of this card is that when you use your M1 Credit Card to purchase items from brands you invest in on your M1 Finance account, you’ll earn between 2.5%-10% cash back. There are 70+ brands that you can invest in and spend money with to earn more rewards. All other purchases earn 1.5% cash back. These rewards go right back into your investment account where you can continue to invest in your favorite companies.
Fees: The M1 Credit Card has an annual fee of $95 dollars; however, this fee can be waived if you already have a M1 Plus account which is $125 per year.
Versatility: The M1 card is a Visa card which makes it a widely accepted card. Its contactless functionality will let you pay at automated machines without fumbling for cash or cards.
App: M1 has an app where you can access your spending records and allocate your rewards as desired. You can also do access your account info through their website.
Missing Features
Missing Features: One of the missing features is the ability to add authorized users on the card. As of right now, there is no sign of this feature being added. Another drawback is that if you aren’t using the card at one of the supported brands, you are only earning 1.5% cashback.
Overall Review
If you’re an individual who already has a M1 Finance account, this card would be great for you. The fact that the rewards go right into your investment account is another great feature. For someone who is looking to save their rewards from their credit purchases, this card is a great option; however, the rewards are limited to a select few brands, and other cards might give you a higher average cash back percentage.
See the full M1 Finance Credit Card Review.
