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M1 Finance Credit Card Review
M1 Rewards Credit Card - Up to 10% Cash Back
Our Rating:
Our Rating
Why we love this card:
- Get 1.5 - 10% cash back on elite brands like Amazon, Nike, Spotify and more.
- $0 Annual Fee for first year, $125 thereafter
- Reinvest your rewards + get higher cash back percentages for owning stock in your favorite brands
Am I eligible?
You must be an M1 Plus Member to apply for this card and get your membership fee waived, BUT the M1 Plus Membership is free for the first year.
M1 Rewards Credit Card
The credit card for sophisticated investors.
$
0
Annual Fee (for M1 Plus Members)
-
Up to 10% cashback*
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Designed to earn insane cashback on top brands
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Annual membership fee WAIVED for your first year
Get Started
*Visit M1's website for details.
Details
- Click Get Started to securely apply online via M1's website.
- Earn unlimited 1.5% back on all purchases + up to 10% back on Netflix, Nike, Spotify, WayFair and more.
- Automate your rewards in the M1 app to re-invest into the stock or investment of your choice
- Rewards are capped to $200 per month, see M1's site for details. They currently cap it at $200 per month on some categories.
- Increase your ownership in any public company with your credit card rewards
- When you make 12 monthly on-time payments, we’ll lower your APR by 1%.
- No foreign transaction fees
- Freeze your card from the mobile app
- Visa® Zero Liability
Rated Best for:
Editorial Disclosure
M1 Finance Owners Visa® Rewards Credit Card Review
Who is the M1 Credit Card for?
If you are looking for the king of cash back cards - you have found it. With the ability to get 10% cashback on Amazon, Nike, Target, Spotify and others you'll already be spending in the right categories to maximize your rewards. The coolest part about this card is that it allows you to max out the cash back (up to 10%) based on the stocks you invest in - so if you own the stock, you'll be able to get up to 10% back.
Welcome Bonus
Currently, the welcome bonus is the first year fee waived (normally $125). If you decide you don't want the card after trying it out, you can cancel it within the first year and avoid any membership fee.
No Annual Fee
As mentioned the No Annual Fee applies to the first year. You'll need to sign up for an M1 Plus Membership (which is also free for one year) if you haven't already got one. If you are spending on brands with 10% cash back, you will easily recoup any membership costs that you'll occur after the first year.
Cash Back Rewards
The reward rate is absolutely astounding. There is a 10%, 5%, and 2.5% cash back category:
- 10% Cash back: Adobe, AMC, Chewy, Dropbox, GameStop, Bath & Body Works, Victoria's Secret, Lululemon, Netflix, Purple, Peloton, Stich Fix, Spotify, Tesla, Ulta, Wayfair
- 5% Cash back: American Airlines, Chipotle, Delta, Dollar General, Dominos, Etsy, reverb, FedEx, JetBlue, Southwest, Converse, Nike, Starbucks, HomeGoods, TJ Max, United Airlines, UPS
- 2.5% Cash back: Apple, AirBnb, Amazon, Whole Foods, Twitch, Whole Foods, Zappos, Best Buy, Costco, Target, DoorDash, McDonald's and more!
- Remember all you need to do is own stock in the company you want to get the bonus cashback percentage (as long as they're part of M1's list).
You are automatically enrolled in this card's rewards program and you'll want to deposit money in an M1 account to maximize the cash back categories.
Cautions
If you don't want to invest in the companies listed in the special categories listed, then this card probably isn't for you.
Conclusion
The M1 Credit Card is an innovative and exciting opportunity to earn high rewards rates where you're likely already spending. All it takes to unlock these high rewards rates is to create an M1 Plus membership to invest in the stocks of the companies (and there isn't a minimum requirement). This is a great card option if you are an investor and looking for the highest possible rewards rates,
Alternatives to the M1 Credit Card
M1 Credit Card Details
Rewards Rate
1.5% on non-special categories, up to 10% on special categories
Welcome Bonus
The annual fee is waived your first year ($125 your second year)
Typical Credit Score
Good, Excellent
Intro Annual Fee
$0 for M1 Plus customers / $95 for Non-Members
Annual Fee
$95 (Waived for active M1 Plus customers)
Additional User Annual Fee
N/A
Foreign Transaction Fee
$0
Intro Purchase APR
None
Regular Purchase APR
7.24%-27.24% APR (Variable)
Cash Advance Fee
Not available
Cash Advance APR
Not available
Late Fee
Up to $25
Intro Balance Transfer APR
Not available
Regular Balance Transfer APR
N/A
Penalty APR
N/A
Balance Transfer Fee
Not available
Return Payment Fee
$37
Minimum Deposit
N/A
Credit Card Network
Visa
Credit Card Issuer
Deserve / Celtic Bank
M1 Owners Credit Card FAQ
How do I get 10% cash back with the M1 Credit Card?
You'll need to own stock through the M1 App to max out your credit card reward potential. For example, you would need to own Netflix stock in the M1 app to get 10% cash back on Netflix through your M1 Credit Card.
Will applying for the M1 Owners Credit card impact my credit score?
Yes, applying for the M1 Owners Credit Card will slightly impact your credit score. Normally applying for a credit card doesn't bring down your score more than a couple of points.
What is the Annual Fee for the M1 Owner's Rewards card?
The annual fee is $95, but it is waived if you are an M1 Plus member.
Is the M1 Owner's Rewards credit card real?
Yes, the M1 Credit Card is real. It is on the Visa credit card network and backed by Celtic Bank.
Are all M1 Plus Accounts eligible?
No, trust and custodial account holdings are not eligible to qualify for Owner’s Rewards.
The future of credit cards.
No commitment to apply.
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