Max Cash Preferred Card Review

Elan Financial Services is a company that works with banks and credit unions to issue credit cards. Elan has recently launched a new product that is available at many credit unions and is similar to the U.S. Bank Cash+ card. It is called the Max Cash Preferred Card and it runs mostly on the Visa network. However there is at least one credit union that issues a Mastercard version, which can me a more preferable option since you get cell phone protection. The card has 5% quarterly categories and 2% categories. It has no annual fee and there’s also a signup bonus of $150.

Signup Bonus

Earn a one-time $150 bonus after eligible net purchases totaling $500 or more are made to your account within 90 days from account opening.

Reward points can be redeemed as a cash deposit to a checking or savings account with your Financial Institution which will be deposited within 7 days, or as a statement credit to your credit card account, which will be deposited within one to two billing cycles or as a Rewards Card ($25 minimum redemption). Please allow 6-8 weeks after you have met the spend requirement for your bonus to be credited to your rewards balance.

Card Details

• Earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose:
  • TV, Internet & Streaming Services
  • Fast Food
  • Cell Phone Providers
  • Department Stores
  • Home Utilities
  • Furniture Stores
  • Electronic Stores
  • Recreation
  • Entertainment
• Earn 2% unlimited cash back on one everyday category:
  • Gas Stations & Ground Transportation
  • Restaurants & Food Delivery
  • Grocery Stores & Grocery Delivery.
• Earn 1% unlimited cash back on all other eligible purchases.

You can find full details about the categories here. To redeem rewards:

1. Log in to Account Access– Log into your account to redeem your rewards.
2. Select your Account, and within the navigation select “Rewards.”
3. Click “Next” to reach the reward center and start redeeming.

Applying for the Card

The card should be easier to get since it is issued by a large number of credit unions. Here’s the card site as well. Find one in your area if you are interested in applying. The list comes from DoC and FICO Forums, with some additions:

1. Abby Bank (Wisconsin)
2. Air Force Academy Federal Credit Union (Colorado, veterans)
3. Allegiance Credit Union (Oklahoma)
4. Alliance Credit Union (Missouri)
5. All South Federal Credit Union (South Carolina)
6. Amplify Credit Union (Texas)
7. Associated Bank (Wisconsin, Illinois, Minnesota, Missouri, Indiana, Ohio, Michigan, Texas)
8. Astera Credit Union (Michigan)
9. Atlantic Union Bank (Maryland, Virginia, North Carolina)
10. Banc of California (California)
11. Bank of Albuquerque (New Mexico)
12. Bank of Clarke County (Virginia)
13. Bank Five Nine (Wisconsin)
14. Bank of Oklahoma (Oklahoma)
15. Bank of Texas (Texas)
16. Bank of Utah (Utah)
17. Banner Federal Credit Union (Arizona)
18. Bay Coast Bank (Massachusetts, Rhode Island)
19. Beacon Credit Union (Indiana)
20. Bell Bank (Arizona, Minnesota, North Dakota)
21. BOK Financial (Arizona, Arkansas, Colorado, Kansas, Missouri, New Mexico, Oklahoma, Texas)
22. Bremer Bank (Minnesota, North Dakota, Wisconsin)
23. Byrn Mawr Trust Company (Pennsylvania)
24. Buckeye State Bank (Ohio)
25. Busey Bank (Indiana, Illinois, Missouri, Florida)
26. Capital City Bank (Florida, Georgia, Alabama)
27. Capital Credit Union (Wisconsin)
28. Cattle Bank and Trust (Nebraska)
29. CCF Bank (Wisconsin, Minnesota)
30. Central Pacific Bank (Hawaii)
31. Centricity Credit Union (Minnesota)
32. Centris Federal Credit Union (Nebraska, Iowa)
33. Chevron Federal Credit Union (United States)
34. Comerica Bank (California, Arizona, Texas, Florida, Michigan)
35. Cornerstone Bank (North Dakota, South Dakota)
36. Credit Union of Georgia (Georgia)
37. Desert Financial Credit Union (Arizona)
38. Ent Credit Union (Colorado)
39. Envision Bank (Massachusetts)
40. First Class Community Credit Union (Iowa)
41. First Financial Northwest Bank (Washington)
42. First Kentucky (Kentucky)
43. First Merchants (Illinois, Indiana, Ohio, Michigan) – Mastercard
44. First National Bank Texas (Arkansas, Texas, New Mexico, Arizona)
45. First National Bank of Waterloo (Illinois)
46. First State Bank of Florida Keys (Florida)
47. Five Star Bank (New York)
48. Flagstar Bank (California, Michigan, Indiana, Ohio, Wisconsin)
49. F&M Bank (Farmers and Merchants) (California)
50. Fulton Bank (Virginia, Maryland, DC, Pennsylvania)
51. Greater Nevada Credit Union (Nevada)
52. Green Belt Bank and Trust (Iowa)
53. Guaranty Bank and Trust (Texas)
54. Highland Bank (Minnesota)
55. Home Federal Bank (Tennessee)
56. Horizon Bank (Indiana, Michigan)
57. Incredible Bank (Wisconsin)
58. Intrust Bank (Arkansas, Oklahoma, Kansas)
59. Johnson Financial Group (Wisconsin)
60. KEMBA Louisville Credit Union (Kentucky)
61. Kentucky Farmers Bank (Kentucky, Ohio)
62. Lake City Bank (Indiana)
63. Liberty Bank (Connecticut)
64. Meriwest Credit Union (California)
65. Merrimack Valley Credit Union (Massachusetts)
66. Mid Penn Bank (Pennsylvania)
67. MIT Federal Credit Union (Massachusetts)
68. Nodaway Valley Bank (Missouri)
69. North Shore Bank (Illinois, Wisconsin)
70. Northside Community Bank (Illinois)
71. NRL (Naval Research Lab) Federal Credit Union (DC, Virginia, Maryland)
72. Oklahoma Central Credit Union (Oklahoma)
73. Park National Bank (Ohio)
74. Pawtucket Credit Union (Rhode Island)
75. People’s United Bank (Connecticut)
76. Pikes Peak Credit Union (Colorado)
77. Premier Bank (Ohio, Indiana, Michigan)
78. Prevail Bank (Wisconsin)
79. Public Service Credit Union (Michigan)
80. Renasant Bank (Mississippi, Alabama, Tennessee, Georgia, Florida)
81. Radius Bank (Massachusetts)
82. Rockland Trust (Massachusetts)
83. Twin River Bank (Idaho, Washington)
84. U.S. Employees Credit Union (US government employee and retiree)
85. Valley National Bank (New Jersey, New York, Florida, Alabama)
86. Wesbanco (West Virginia, Kentucky, Ohio)

Guru’s Wrap-up

This is a good card to have in your wallet, especially if getting approved for the U.S. Bank Cash+ card is difficult for you. The Max Cash Preferred Card is issued through Elan Financial Services so approval should be easier. The card has no annual fee and a $150 bonus. Every quarter you get to pick two categories to earn 5% and another one to earn 2%. Take a look at the categories listed, and figure out if it makes sense for you. Also let me know if you come across any other banks or credit unions that issue this card., so I can add them to the list.