JP Morgan Chase and financial services firm Stockback LLC have begun offering the co-branded Stockback MasterCard from Chase.
The credit card offers a flexible rewards program that lets cardholders earn cash rewards that can be reinvested in a mutual fund. Cardholders receive 1 percent cash back on all purchases made online and offline with the card. They also can receive up to 10 percent cash back on purchases made at selected merchants. The cardholder can receive the reward as cash or have it automatically invested in a mutual fund managed by Merrill Lynch.
The cardholder can withdraw funds from the account at any time, and there is no limit to the amount of rewards that can be accumulated. There is no annual fee for the card.
Stockback has a network of more than 85 merchants that accept the Stockback MasterCard from Chase and offer a 10 percent cash back reward, including Hertz, Dell Computer, CVS, Barnes & Noble, L.L. Bean, US Airways, Hallmark.com and The Sharper Image.