Are You Eligible for the M1 Spend Plus 5% cash back promotion?
The M1 Spend Plus 5% cash back promotion requires an individual to have an active M1 Plus Membership, an M1 Spend checking account, and an M1 Visa® debit card to be eligible to participate in this promotion.
How does the M1 Spend Plus 5% cash back promotion work?
As an M1 Spend Plus member, you’ll earn unlimited 1% cash back on all purchases using your M1 Spend Visa® Debit Card. In addition, you’ll earn 4% cash back for up to $40 in the retail category from November 1 – December 31, 2020. That’s an opportunity to earn a total of 5% cash back during this promotional period.
What determines if a merchant falls under the retail rewards category?
Merchants who accept Visa debit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for the purpose of providing you this cash back offer. Please note, we make every effort to include all relevant merchant codes in the retail rewards category. However, even though a merchant or some of the items that it sells may appear to fit within a reward category, the merchant may not have a merchant code in the retail category. When this occurs, purchases with that merchant won’t qualify for cash back on those purchases.
What is included in the Retail category?
Merchants in the retail category include department stores, bookstores, clothing and apparel stores, electronics, discount stores, and other merchants that provide goods or services directly to consumers. This category excludes payments at merchants for non-retail services, insurance, utilities, doctors and hospitals, government services and taxes, etc. This exclusion list is a helpful guide, but not exhaustive. Some purchases may not fall into the category where you might expect them to appear.
When will I receive the promotional cash back from the M1 Spend Plus 5% cash back promotion?
Eligible participants will receive the additional 4% cash back in one lump sum after the promotion period ends. The payout is expected to be on or around January 11, 2021. M1 Spend Plus members will continue to receive their 1% cash back on qualifying purchases by the 10th of the following.
M1 Spend checking accounts furnished by Lincoln Savings Bank, Member FDIC. M1 Visa® Debit Card is issued by Lincoln Savings Bank, Member FDIC.