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The Owner’s Rewards Card by M1

DONZI
Regular Contributor

The Owner’s Rewards Card by M1

The Owner’s Rewards Card by M1

 

I've an account here, it's an interesting first look at a robo-advisor brokerage for me.

 

The "M1 Plus" option is required for this card and can be had for a year for no cost - I have been testing this (M1 Plus) since January and it's value does get a nice boost with this card.

 

I'd basically considered the "M1 Plus" annual fee ($125) decent enough value prior to the Visa Sig unveiling due to the "Spend" features -- the possibility of getting this credit card does sweeten the pot.

 

The Visa Signature benefits suite isn't published yet AFAIK, but hoping it's not too bare bones since they value the card annual fee at $95.

 

Here's to hoping my VTI ETF will pass along perks for all its holdings! Smiley Wink

 

Content of the linked page above is below. There are a variety of sites which offer additional information.

 

 

EARN UP TO 10% CASH BACK

Shop with certain brands you believe in and invest in with M1 to earn cash back. Get 10%, 5% or 2.5% cash back on purchases with some of the most popular brands—and 1.5% standard cash back on everything else.


REINVEST YOUR CASH BACK

Using M1 automation, you can reinvest your rewards in your portfolio for continued growth. That’s the long-term mindset at work. 


CONTACTLESS METAL CARD

Shop any way you like: show off your sleek metal card or pay with tap-to-pay, Apple Pay and Google Pay for a contactless shopping experience.


FREE WITH M1 PLUS

The Owner’s Rewards Card by M1 is just one of the many perks that come with a Plus membership. The first year of Plus is free, and it’s just $125 per year after that.

Learn more and sign up.


MORE OF YOUR MONEY IN ONE PLACE

Going all-in-one with M1 helps make the big picture clear. And with a credit card in the mix, the connections between your M1 accounts get stronger. 


SECURE

Manage and freeze your card easily from your M1 account. Plus, with Visa Signature® benefits you get added benefits like Visa® Zero Liability.

[2020-DEC-12]=[EQ8|806]-[TU8|766]-[EX8|790]
[2021-OCT-14]=[EQ8|786]-[TU8|765]-[EX8|764]
Message 1 of 13
12 REPLIES 12
unsungivy
Regular Contributor

M1 Owners card: what you invest in affects cashback

Message 2 of 13
DONZI
Regular Contributor

Re: The Owner’s Rewards Card by M1

Today I got a message about the brands that will make up the rewards at the card debut.

 

10% CASH BACK

ticker	brand
------  -----------------
ADBE	Adobe
AMC	AMC Theaters
CHWY	Chewy
DBX	DropBox
GME	GameStop
BBWI	Bath & Body Works
VSCO	Victoria's Secret
LULU	Lulu Lemon
NFLX	Netflix
PRPL	Purple
PTON	Peloton
SFIX	Stitch Fix
SPOT	Spotify
TSLA	Tesla
ULTA	Ulta
W	Wayfair

5% CASH BACK

ticker	brand
------  -----------------
AAL	American Airlines
CMG	Chipotle
DAL	Delta
DG	Dollar General
DPZ	Dominos
ETSY	Etsy
ETSY	Reverb
FDX	FedEx
JBLU	Jetblue
LUV	Southwest
NKE	Converse
NKE	Nike
SBUX	Starbucks
TJX	Homegoods
TJX	Homesense
TJX	Marshalls
TJX	Sierra
TJX	TJ Maxx
UAL	United Airlines
UPS	UPS

2.5% CASH BACK

ticker	brand
------  -----------------
AAPL	Apple
ABNB	Airbnb
AMZN	Amazon
AMZN	Audible
AMZN	Twitch
AMZN	Whole Foods
AMZN	Zappos
BBY	Best Buy
CMCSA	Comcast
COST	Costco
DASH	Caviar
DASH	Doordash
EBAY	Ebay
HD	Home Depot
LOW	Lowe's
LYFT	Lyft
MCD	Mcdonald's
QSR	Burger King
QSR	Popeyes
QSR	Tim Horton's
T	AT&T
T	DirecTV
T	HBO
TGT	Target
TMUS	Sprint
TMUS	T Mobile
UBER	Postmates
UBER	Uber
UBER	Uber Eats
VZ	Verizon
WBA	Duane Reade
WBA	Walgreens
WMT	Bonobos
WMT	Moosejaw
WMT	Sam's Club
WMT	Walmart
YUM	KFC
YUM	Pizza hut
YUM	Taco Bell

1.5% CASH BACK EVERYWHERE ELSE

[2020-DEC-12]=[EQ8|806]-[TU8|766]-[EX8|790]
[2021-OCT-14]=[EQ8|786]-[TU8|765]-[EX8|764]
Message 3 of 13
Citylights18
Established Contributor

Re: The Owner’s Rewards Card by M1

Its definitely more interesting than pursuing 2% cash back cards.

 

The value proposition though can be equaled by by other products.

 

-IBKR charges 1.6% margin loans which is lower than 2% M1 advertised. In addition you aren't restricted to a "portfolio" allocation with IBKR. You can buy stocks and options whenever you like including setting profit targets. M1 the market tanks and you go down with the ship.

 

https://www.interactivebrokers.com/en/index.php?f=46376

 

-Crypto.com has up to 8% rewards on debit card purchases. Their cards will outright pay for Spotify, Netflix and Amazon Prime membership. M1 is offering 10% back on Spotify and Netflix along with 2.5% back on Amazon. The Amazon credit cards themselves offer 5% cash back. Crypto.com does require you to stake. Coinbase does not and provides 4% XLM rewards will soon lend USDC at 4% compared to the 1% APY of this product.

 

https://crypto.com/us/cards

 

-Chase travel portal has 5% cash back on purchasing AA or Jet Blue flights. However if you have a CSP you can take that amount as points which you could redeem at 2.0ccp so effectively you get 10% back from the Chase Travel Portal. M1 is 5% cash back on American, Delta, United, Southwest, Jet Blue only while you can get that from any airline with Chase.

 

https://thepointsguy.com/guide/ultimate-rewards-travel-portal/

Official travel point totals as of 7/17/20 (361,553 Total Points)
Chase Ultimate Rewards 152,226
World of Hyatt 94,737
AMEX Membership Rewards 63,796
AA Advantage 15,244
United MileagePlus 13,316
British Airways Avios 11,332
Citi Thank You 2,850
Hilton Honors 2,157
NASA Platinum Rewards 1883
Marriott Bonvoy 1,350
Jet Blue TrueBlue 885
Southwest Rapid Rewards 762
Expedia Points 740
Delta Sky Miles 175
Virgin Atlantic Virgin Points 100
Hotels.com Rewards 6/10 ($135.99)
Message 4 of 13
DONZI
Regular Contributor

Re: The Owner’s Rewards Card by M1

-IBKR charges 1.6% margin loans which is lower than 2% M1 advertised. In addition you aren't restricted to a "portfolio" allocation with IBKR. You can buy stocks and options whenever you like including setting profit targets. M1 the market tanks and you go down with the ship.

Personally I have no interest in borrowing at M1 or the debit card 1% cash back. I do like the 1% Checking APY since my other traditional high yield deposit accounts APY are mostly worthless.

 

InteractiveBrokers and M1 are quite different and options trading at M1 isn't possible.

 

-Crypto.com has up to 8% rewards on debit card purchases. Their cards will outright pay for Spotify, Netflix and Amazon Prime membership. M1 is offering 10% back on Spotify and Netflix along with 2.5% back on Amazon. The Amazon credit cards themselves offer 5% cash back. Crypto.com does require you to stake. Coinbase does not and provides 4% XLM rewards will soon lend USDC at 4% compared to the 1% APY of this product.

I'm slow to embrace crypto and not interested in a debit card for anything other than getting cash.

..in any event, up to 8% with substantial crypto ownership and (up to) 4% with coinbase doesn't seem to be defined yet.

 

Spotify and Netflix are somewhat trivial subscriptions for me and there is a lot of competition among credit cards, etc for streaming discounts. However, I can see nice value in Chewy, Victoria's Secret, Ulta and others for 10% back and assorted 5% & 2.5% brands.

 

I don't use amazon directly for much other than product & price research. The amazon card 5% cash back is tied to an amazon prime membership and the 3% cash back is basically a limited subset of amazon spend.

 

-Chase travel portal has 5% cash back on purchasing AA or Jet Blue flights. However if you have a CSP you can take that amount as points which you could redeem at 2.0ccp so effectively you get 10% back from the Chase Travel Portal. M1 is 5% cash back on American, Delta, United, Southwest, Jet Blue only while you can get that from any airline with Chase.

Like the current amazon visa, chase cards can be a hassle to obtain for some people.

 

Having an option for 5% (possibly unlimited, have to wait and see how the terms/conditions finalize) cash back on 5 airlines ain't bad..

 

It will be interesting once this card is born. I do like the apparent certainty of the CB potential (not broad categories) and will be interested if product/service transactions are free from point of sale factors, etc.

 

They mention that the base 1.5% doesn't stack if something qualifies for the higher %.. but not clear about other stacking yet AFAIK.

 

EG: buy nike shoes from amazon = 7.5%?  or nike from TJX = 10%

.. or POS factors like nike from a local shoe store = 5% or 1.5%

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Message 5 of 13
GatorGuy
Established Contributor

Re: The Owner’s Rewards Card by M1

Not a big fan of having specific brands rather than categories since that can change very easily. 

 

For airlines, not only does the CSR and Amex platinum give better rewards to more airlines, but most importantly they give premium and extensive insurance which is mandatory for travel in opinion. 

Message 6 of 13
DONZI
Regular Contributor

Re: The Owner’s Rewards Card by M1

Maybe there is some sort of deal with those companies/brands on all % tiers and M1.

If so, then it'd be realistic to expect tier populations to be stable for some duration of time.

 

Perhaps I've missed the other 10% cash back cards out there, but my first thought is that offering 10% cashback was made possible by narrow focus like this 'owner' requirement marketing.

 

I get the idea this card isn't trying to be a competitor in the travel card arena.

 

What travel perks [if any] it will have are yet to be fully known. A little additional info has slowly made it into the help area of the website.

 

Perks FAQ says "Visa Signature® benefits, including zero liability, lost/stolen card reporting, Visa Signature Luxury Hotel Collection, Visa Signature Concierge, Visa Signature perks (like travel and entertainment)"  -- which doesn't seem settled (along with FTF) yet to me.

 

Also, "Not available for US territory residents" is confusing to me. Would that restriction convey other traits(or lack of)?

[2020-DEC-12]=[EQ8|806]-[TU8|766]-[EX8|790]
[2021-OCT-14]=[EQ8|786]-[TU8|765]-[EX8|764]
Message 7 of 13
DiosMioFico
Member

Re: M1 Owners card: what you invest in affects cashback

Yeah, I noticed the advert on the app.  Seems interesting. 

I've been a M1 Finance member for 2 years.  So, I'll get their credit card after my gardening period ends in 12/21. 

Message 8 of 13
DONZI
Regular Contributor

Re: The Owner’s Rewards Card by M1

Smiley Sad

 

I just got notice from M1 that the card waiting list is going to go live soon so I figured I'd fish around for some DP on Celtic Bank..

 

Turned up some subprime cards like Surge, Reflex, Indigo and Affirm loans.

 

Sadly I expect the likes of Celtic Bank / Continental Finance and powered by Deserve would be more hassle and regret than I'm looking for and don't want to taint my credit with a relationship with this issuer / card.

 

Here's a few links within the forum(s):

The "Which Banks Pull Which Report For Apps" list

Continental finance reflex mastercard removal of late payments

Deserve Pro Mastercard is the WORST card out there

Newly Released Wine Enthusiasts Card...

 

FWIW, once they deliver formal application, terms and such I'll drop that info in here.

[2020-DEC-12]=[EQ8|806]-[TU8|766]-[EX8|790]
[2021-OCT-14]=[EQ8|786]-[TU8|765]-[EX8|764]
Message 9 of 13
coldfusion
Community Leader
Super Contributor

Re: The Owner’s Rewards Card by M1

I've commented a couple of times in the past here on Celtic Bank and yes they are bottom-feeders.



(10/2021)
FICO 8 (EX) 804 (TU) 830 (EQ) 827
FICO 9 (EX) 827 (TU) 826 (EQ) 838

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 10 of 13
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