Owners Rewards Card By M1

Owners Rewards Card By M1 Review

This is a cashback card issued by M1 Finance. If you're wondering whether Owners Rewards Card By M1 is the right card for you, read on.

Key Takeaways

• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR that ranges from 19.74% up to 29.74%.
• Cash rewards. This credit card offers cash rewards on your purchases, but you will have to pay an annual fee of up to $125 for the privilege.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Good or better credit required. You will have low approval odds if your credit score is below 670.

Pros & Cons of Owners Rewards Card By M1

The Good	The Bad
M1 Plus Intro Annual Fee $0 for the first 3 months. Identity Theft Protection. No foreign transaction fee. Cardholders can earn rewards on their purchases. Owners Rewards Card By M1 reports to multiple credit bureaus.	Higher than average purchase APRs. You need good credit to qualify. Does not offer a signup bonus. You don't earn rewards on every purchase. Does not include many credit card benefits.

Owners Rewards Card By M1 FAQ

Does Owners Rewards Card By M1 have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards.

Owners Rewards Card By M1 Rewards

Rewards rate (all purchases)	N/A
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)

What are the Owners Rewards Card By M1 benefits?

It provides the following benefits:

• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for Owners Rewards Card By M1?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

Owners Rewards Card By M1 has a variable purchase APR that ranges from 19.74% up to 29.74%.

The good news is this card does not charge a penalty APR if you are late on a payment.

What are the fees for Owners Rewards Card By M1?

The following fees apply:

• There is no overlimit fee

Owners Rewards Card By M1 Fees

Fees	Amount
Annual Fee	Starting at $0 up to $125
Overlimit Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	$37
Late Payment Fee	$25

Does Owners Rewards Card By M1 report your account activity to credit bureaus?

Yes, Owners Rewards Card By M1 reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Owners Rewards Card By M1

• Visit the Owners Rewards Card By M1 website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.