The savings platform Save is launching a card with Visa that the company says is the first high-yield credit card that offers market returns instead of points or cash back.
“The Wealth card is designed for consumers who are looking for the potential of better economic value from their credit card in a low-interest rate environment, and with high inflation,” Save Founder and CEO Michael Nelskyla said in a news release Friday (Jan. 21).
Save says this card, set to roll out next month, is expected to have the highest return potential of any premium card, with an average return of 6% each year on all purchases with no caps, category restrictions or minimums.
Users will get access to benefits that include increased investments and yield potential for purchases done with Save-preferred brands such as Tesla, Apple, Microsoft, Samsung, Amazon and Peloton.
“The Wealth card will match customers’ spending with investments in personalized portfolios, which are expected to include globally diversified allocations, sustainable investments and alternative assets with managed crypto exposure,” the company said.
Customers will keep all the returns on the investment, minus the 7.9% management fee taken by Save.
“At Save, we believe the benefits of market returns should be expanded beyond traditional investment vehicles,” said Adam Watts, the company’s president and COO.
Read more: Visa, Yokoy Collaborate on Virtual B2B Debit Card
Last month saw Visa collaborate with the spend management platform Yokoy on a new debit card for companies operating in Europe. Yokoy says its new card can be managed completely digitally, and also waives fees customers who pay with comparable cards.
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