Earn 5% Back on Gas with the M1 Credit Card
The Owner’s Rewards Card by M1, is the first credit card by the investing app that was launched during 2021. Now this product is getting some interesting updates that mean more rewards on gas.
M1 is adding seven new brands to the Owner’s Rewards Program (launching 3/31), meaning that card holders will have even more opportunities to earn a higher percentage of cash back when they shop at select companies whose stock they own. The new companies include Amoco, BP, Chevron, Exxon, Mobil, Spectrum and Texaco. Card holders who invest in the new fuel brands will receive 5% cash back when they shop, which will hopefully help mitigate the strain that rising gas prices are putting on consumers. You can see all the eligible merchants here.
As an additional update, the card is now available to all M1 users rather than just M1 Plus users, so applicants are no longer required to join M1’s annual membership plan that offers benefits including additional trading windows and custodial accounts, among other items.
The Owner’s Rewards Card by M1 has a $95 annual fee that is waived with an active M1 Plus membership. The card gives card holders 2.5%, 5% or 10% cash back when they shop at select companies whose stock they own and 1.5% cash back on all other purchases should consumers choose not to invest in the brands. The cash back is automatically invested into their portfolio, helping to maximize rewards and grow long-term wealth through everyday transactions. You can read more about the card here and also learn more about M1 Finance.