The Made Essential Visa Signature Preferred Credit Card earns rewards on your mortgage payments, but with a twist.
The $0-annual-fee card, launched by the financial technology company Made Card and issued by Lead Bank, earns points on purchases — including specific everyday and home-related spending. The more points you earn, the more you can “points match” to gain an equivalent sum of rewards for your mortgage payments.
Here are five things to know about the Made credit card.
1. It earns rewards in multiple categories
The Made card earns:
- 3 points per dollar on gas, electric vehicle charging, groceries and utilities (up to a maximum of 30,000 points earned per calendar year).
- 2 points per dollar on home improvement, home maintenance and furniture (up to a maximum of 20,000 points earned per calendar year).
- 1 point per dollar on all other purchases.
Points don’t expire so long as your account remains open.
2. You can 'points match' for rewards on mortgage payments
You don’t use the Made card to pay your mortgage, but you can earn points on payments by linking your mortgage account. To do this, you connect the account you use to pay your mortgage with Plaid or Fairway Home Mortgage. You can also provide proof of your payment, or a mortgage statement, if your bank doesn’t allow linking through Plaid. These processes can be completed online or through the Made app.
From there, every dollar you spend on your card earns a matched point for your mortgage. You’re limited by either how much you spend on the card or your monthly mortgage payment, whichever is lower. So if you have a $2,000 mortgage payment and spend $1,500, you’ll earn 1,500 points through Mortgage Matching. But if you spend $2,500, you’ll only earn 2,000 points on your mortgage.
3. Redeem points in several ways
There are several options for redeeming your rewards, but point values vary depending on what you choose.
- Statement credits at a value of 0.7 cent per point.
- Gift cards at a value of 0.8 cent per point.
- Redeem into a Fairway Home Mortgage product at a value of 1 cent per point. This could include refinancing an existing mortgage into a Fairway mortgage, applying rewards to closing costs, or using points toward a rate buydown (a large, upfront payment that grants you a lower interest rate).
Those are decent options, but if you want more rewards flexibility, you could consider one of the Bilt credit cards. Like the Made card, Bilt credit cards allow you to earn rewards on your housing payments (rent or mortgage), but Bilt also features multiple travel partners to which you can transfer your rewards, potentially for outsize value.
The Bilt Blue Card, for comparison's sake, has a $0 annual fee, like the Made card does — though the Made card's ongoing rewards rates are more generous.
Complete list of Bilt transfer partners
- British Airways Club (Avios).
- Preferred Hotels I Prefer.
4. There are additional benefits for homeowners
Cardholders can also get access to home maintenance services through Cinch Home Services, a home warranty company that has a partnership with Made. Services include two complimentary preventative maintenance visits per year, a credit toward an A/C filter, and a 24/7 repair hotline for system and appliance emergencies.
5. Your mortgage must be eligible
You can only earn points on your mortgage if the linked mortgage account is for your primary residence. Also, you must be the owner of record on the property.
