M1 Finance launches its Owner’s Rewards credit card

M1 Finance is known for its app-based investing with fewer fees and smarter tools. Now, M1 fans have a new way to invest by spending money every day. The new M1 Finance Owner’s Rewards Card, which came out in August 2021, lets investors add to their accounts by getting 1.5% back on everyday purchases that are automatically put back into their portfolio. M1 Finance launches its Owner’s

Cardholders can earn extra rewards when they shop at companies whose stock they own. The list includes big stores and brands like Amazon, Walmart, Netflix, and Peloton. M1 Finance launches its Owner’s

The cashback credit card for investors is currently on a waitlist, but should you get in line? The M1 Finance Owner’s Rewards Card is definitely appealing, but the way you earn and use rewards makes it a very specific choice for a certain type of customer. M1 Finance launches its Owner’s

M1 Finance Owner’s Rewards overview

To sign up for the M1 Finance Owner’s Rewards Card, people need to have an M1 Finance investing account. As of writing, M1 Finance is offering a free year of M1 Plus for new users to experience the firm’s upgraded investing experience ($125 retail value). If you get the card and use M1 Plus beyond the first year, you’ll need to pay the $125 annual fee. If you decide to keep the card and drop M1 Plus, a $95 annual card fee applies. M1 Finance launches its Owner’s

Cardholders earn a flat 1.5% back for every dollar they spend, as well as 2.5%, 5% or 10% back when they shop with select retailers or brands in which they own stocks. Big brands that are currently eligible for bonus rewards include Amazon.com, Target, Netflix, Walmart, Delta, Starbucks, Peloton and more. The cashback is then automatically invested back into customers’ M1 Finance investing portfolios. M1 Finance launches its Owner’s

Other M1 Finance Owner’s Rewards benefits

The biggest benefit of the M1 Finance Owner’s Rewards Card is the fact your rewards are automatically added to your M1 Finance investment account. Cardholders can use M1 automation to move their rewards into their portfolio for continued growth and compounding. M1 Finance launches its Owner’s

The M1 Finance Owner’s Rewards Card is a Visa Signature card, so it comes with benefits like Visa Signature concierge, access to the Visa Signature Luxury Hotel Collection, lost and stolen card reporting and more. Your card is also set up to seamlessly integrate with your M1 Finance account.

What is M1 Finance?

M1 Finance was founded in 2015 and is headquartered in Chicago, Illinois. The investing firm aims to offer a “finance super app” with the capability to help investors make seamless trades and build long-term wealth with cutting edge and user-friendly tools. M1 Finance launches its Owner’s

M1 Finance recently raised a $150 million Series E at a $1.45 billion valuation. It’s also approaching $5 billion in client assets on the platform after having reached $4 billion in client assets as of May 2021. M1 Finance launches its Owner’s

Should I get the M1 Finance Owner’s Rewards card?

If you want to invest your rewards and you’re already an M1 Finance customer, getting on the waitlist for the M1 Finance Owner’s Rewards Card makes sense. After all, you’ll earn a flat 1.5% back, as well as 2.5% to 10% back when you shop with big companies whose stock you already own. M1 Finance launches its Owner’s

You can also get a year of M1 Plus membership for free, which gives you the chance to try a membership before you commit to the card. Better yet, the M1 Finance Owner’s Rewards Card integrates with your investment account and automatically invests rewards on your behalf, so you won’t be tempted to cash in your points for anything else. M1 Finance launches its Owner’s

Then again, there are other rewards credit cards that offer cashback everywhere at higher rates, including options with no annual fee. If you have the discipline to cash out your rewards and invest them yourself, other card options could leave you ahead. M1 Finance launches its Owner’s

Bottom line

Plenty of new credit cards launched in 2021, and the M1 Finance Owner’s Rewards Card is definitely unique among them. At the end of the day, this card is best for M1 Finance enthusiasts, investors of all types, and people who don’t want to redeem cashback rewards for travel, gift cards, or other popular options.

holly joneson  is a financial expert and award-winning writer who is obsessed with frugality, budgeting and travel. In addition to serving as contributing editor for The Simple Dollar, Johnson owns Club Thrifty and is the co-author of “Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love.” M1 Finance launches its Owner’s