[Update] HMBradley Credit Card Offers 3% Cashback In Your Top Category


Update 5/25/21: In addition to spending $100 per month on the card, you’ll now also need $2,500 in monthly direct deposits in order to be eligible for the .5% savings rate boost.

Original Post:

Fintech company HMBradley launched a credit card today which offers 3% cashback in your top category of the month, 2% cashback in your next category, and 1% cashback on everything else. The card is issued by Hatch Bank, which is a California industrial bank. You must have a HMBradley bank account in order to be eligible for the card.

Direct Link | Full Terms | List of Categories

There are a few key categories which are excluded from rewards, according to the terms: “Purchases of foreign currency, crypto-currency, traveler’s checks, money orders, wire transfers, tax payments, insurance charges, gaming-related (including, without limitation, gambling chips, off-track wagers or lottery ticket transactions), or purchases made using PayPal or other third party payment services.”

A lot of people would find this interesting if they have a single category where they spend a lot. No idea how well the company will take to thousands of dollars spent on gift cards and the like; presumably it’ll work initially, at least. No signup bonus, unfortunately.

The account has an annual fee $60 which is waived for the first year. There is no foreign transaction fee on the card.

We previously wrote about HMBradley’s savings account which offers a nifty 3% APY return, so long as you receive a monthly direct deposit and save 20% of the direct deposit funds.  HMBradley credit cardholders get the additional perk of bumping up the earnings on the HMBradley savings account from 3% to 3.5% APY, provided that you spend $100 on the card each month. Those in the lower tiers will get bumped up a tier instead; for example, if you should be in tier 2 due to saving 15% of your direct deposit, you’ll be bumped up to tier 1 and earn the full 3% APY on the savings account due to having the credit card.

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