HMBradley Credit Card Review: Is This Hybrid Card Right for You?

The HMBradley Credit Card offers an intriguing combination of credit card rewards and savings account benefits. With unlimited 1.5% cashback on purchases and the ability to earn up to 4.70% APY interest on your HMBradley savings account, this card provides a unique value proposition.

But how does the HMBradley card compare to other top rewards cards? Who is this hybrid card a good fit for? This post provides everything you need to know about the key features, pros and cons, and who can use the HMBradley Credit Card.

HMBradley offers an FDIC-insured HYSA (high-yield savings account) with interest rates tied to your account activity. The HMBradley Credit Card takes it one step further by connecting your credit card spending to your HMBradley savings account.

Overview of the HMBradley Credit Card

Here are some of the main highlights of the HMBradley Credit Card:

Earn 1.5% unlimited cashback on all purchases
Chance to unlock savings account rates up to 4.70% APY
No foreign transaction fees
Access to Mastercard protections like zero fraud liability

Essentially, the more you spend on this card, the higher your HMBradley savings rate can climb. So you earn rewards twice – through credit card cashback and savings interest.

Key Card Features

Welcome Offer: None

Annual Fee: $0 for first year, $60 after that

APR: 13.90% to 22.90% variable on purchases

Credit Required: Good to Excellent scores

Rewards: Unlimited 1.5% cash back

Foreign transaction fee: None

Network: Mastercard

Intro APR: None

Balance transfer fee: N/A

Cash back expiry: None if account open

The HMBradley Credit Card offers unlimited 1.5% cash back on all purchases with no cap on earnings. You have the potential to earn up to 4.70% APY interest on your HMBradley savings account when you spend $500+ per month on the card.

Key stats like no foreign transaction fees, access to Mastercard benefits, the annual fee structure, credit requirements, and APR details provide an at-a-glance overview of what this hybrid cashback/savings card entails.

Earning Card Rewards

You’ll receive 1.5% cashback on every dollar spent with no caps on how much you can earn. Many cashback cards have tiered rewards rates or rotating bonus categories, but the HMBradley card keeps it simple.

As you spend on your card, you can unlock savings account rates up to 4.70% APY. Here’s a breakdown:

3.15% APY: Opening savings rate
4.20% APY: Requires $500+ in monthly deposits and positive cash flow
4.70% APY (Max): Requires above plus $500+ in monthly credit card spending

So you need to spend at least $500 per month on your HMBradley Credit Card to max out your savings account rate.

Interest Rates and Costs

The HMBradley Card has a variable APR on purchases ranging from 13.90% to 22.90%, based on your creditworthiness when applying. There is no introductory promotional APR offer for purchases or balance transfers.

As a charge card focused on cash back rewards, the HMBradley Card does not offer balance transfers. There are also no foreign transaction fees charged when making purchases internationally with the card.

Annual and Penalty Fees

The HMBradley Card has no annual fee for the first year, providing initial savings. After the first 12 months, there is a $60 annual fee to continue using the cash back rewards card.

Late payments or returned payments can trigger penalty fees up to $40. Going over the credit limit may incur over-limit fees as well. There are no cash advance or balance transfer fees.

Review the HMBradley Card terms and conditions for full details on interest rates, annual fees, and penalty charges. Factors like your credit score and usage may impact approved rates.

Costs & Terms

APR: 13.90% to 22.90% variable rate on purchases
Intro APR: None
Balance Transfers: Not offered
Foreign Transaction Fee: None
Annual Fee: $0 first year, $60 after that
Penalty Fees: Up to $40 for late payments or returned payments; over-limit fees may also apply

The HMBradley Card has no introductory APR and does not offer balance transfers. There are no foreign transaction fees charged on purchases made internationally. After starting with no annual fee for the first year, there is a $60 annual fee to continue using the cash back rewards card. Late and over-limit payments may incur additional penalty fees.

Pros of the HMBradley Credit Card

Let’s explore some of the best things about the HMBradley Credit Card:

Earn Cashback and High Savings Rates

The HMBradley card is unique in linking credit card spending directly to elevated savings account rates. If you spend $500+ per month on the card, you can earn up to 4.70% APY interest in your HMBradley savings. This creates more potential value than basic cashback alone.

Unlimited 1.5% Cashback

While 1.5% cashback doesn’t stand out among competitors, the HMBradley card offers unlimited rewards with no annual caps. Many cashback cards have quarterly or annual limits on bonus category earnings.

No Annual Fee (First Year)

You avoid annual fees for the first 12 months. After that there is a $60 yearly fee, which is reasonable for a cashback card with unique savings perks.

Mastercard Protections

As a World Mastercard, the HMBradley card includes standard benefits like zero fraud liability, identity theft assistance, and cash advances. You also won’t pay foreign transaction fees when traveling internationally.

Cons of the HMBradley Credit Card

While the HMBradley Credit Card has attractive features, there are some potential disadvantages to consider:

Requires HMBradley Savings Account

Because this card is tied directly to a HMBradley savings account, you must open one to qualify for the card. This adds an extra step compared to normal credit card applications.

Lower Cashback Rate

A 1.5% flat cashback rate trails the 2% offered by many other no-annual-fee rewards cards. You’d need significant savings account balances for the HMBradley card to come out ahead.

High Minimum Spending Requirement

To max out your savings account APY at 4.70%, you’ll need to spend $500+ every billing cycle on your HMBradley card. That’s a hefty requirement compared to many other cashback cards.

$60 Annual Fee (After First Year)

While you get a fee waiver the first year, there is a $60 annual fee after that. Some comparable flat-rate cashback cards have no annual fees.

Who ShouId Consider the HMBradley Credit Card

Given its unique structure, the HMBradley Credit Card is best suited for certain types of consumers and spending habits.

#1. Frequent Spenders

If you easily rack up $500+ in credit card purchases most months across categories like groceries, gas, dining, travel, and more, you’ll have no issue maximizing savings account rates with this card. High spenders can take full advantage of the up to 4.70% APY.

#2. Existing HMBradley Members

Since you need a HMBradley savings account to qualify for this card, it provides the most value to current HMBradley customers. If you already use HMBradley as your primary bank, adding this card creates a seamless experience.

#3. Long-Term Savers

The benefits of this card compound over time as your savings account balance grows. So people focused on long-term savings goals tend to derive the most from the HMBradley credit card’s hybrid rewards model.

How to Apply for the HMBradley Card

As of July 2021, HMBradley has temporarily paused applications for new accounts due to overwhelming demand. There are a couple options to get on the waitlist:

Referral Application

The easiest way to apply now is through an invitation from an existing HMBradley cardholder or accountholder. Connect with friends, family, or community members who already have HMBradley accounts and ask for a referral code. This allows you to submit an application for the card.

Join the Waitlist

If you don’t know anyone with an HMBradley account, you can add your name to the waitlist on the HMBradley website. This signs you up to be notified automatically via email when they officially reopen applications to the broader public.

Once applications resume, prospective candidates will need to open an HMBradley savings account first to qualify for the card. Initial savings deposits may be required as well depending on updated application specifications.

Check the HMBradley website periodically for status updates on when new clients can submit applications without an invitation code. Connecting with existing members can help unlock access during the interim application hold period.

Tips to Login to Access Your HMBradley Credit Card Online

To log into your HMBradley credit card account online, follow these simple steps:

Go to the HMBradley website login page at hmbradley.com/login
Enter your HMBradley account username and password
If you have multiple HMBradley accounts, select “HMB Credit Card” from the dropdown menu

The login will bring you to your online credit card account dashboard

Review recent transactions, statements, rewards, balances, digital card access, and account options

You can also set up recurring payments or change payment due date from the account settings

You can use the HMBradley mobile app for account access on the go. Receive alerts for new charges, approaching due dates, suspicious activity, and other notifications via email/text

Logging in online or on the HMBradley mobile app allows convenient access to manage your credit card digits, track spending, redeem rewards, view statements, make payments, set travel notifications, control privacy, and more.

You can contact HMBradley customer service for login issues or other card account assistance at support.hmbradley.com.

Conclusion

The HMBradley Credit Card offers a creative combo of unlimited cashback rewards and high-yield savings account perks. If you’re disciplined about spending $500+ monthly on the card, you can enjoy elevated savings rates up to 4.70% APY in addition to flat-rate credit card rewards.

But the HMBradley card isn’t ideal for infrequent spenders given its high minimum spending requirements. And the 1.5% cashback trails some of the top competing flat-rate cashback cards.

The HMBradley credit card is best suited for frequent spenders who already utilize HMBradley banking products and want to consolidate their financial experience.

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