Banking News

Greenlight Launches Family Cash Card, The 3% Cash Back Credit Card For Parents

“Greenlight”), the fintech company on a mission to help parents raise financially-smart, independent kids, today announced the launch of the Greenlight Family Cash Mastercard®, the first credit card for parents to invest for their family’s future with up to 3%¹ unlimited cash back on every purchase. Starting today, the Greenlight Family Cash Card is available to all customers with no annual fee.²

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Parenting is more expensive than ever as the cost of living continues to rise. 73% of parents report that inflation has increased their credit card spending.³ As everyday spending increases, it’s become more challenging for parents to save for the future — especially for children’s college education with skyrocketing tuition fees up 173% in the last 40 years. 68% of parents said they have little to no savings for their children’s future.

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The Greenlight Family Cash Card brings parents a better way to earn rewards and save for their family’s future, offering an industry-first combination of up to 3%¹ unlimited cash back on every purchase and automatic investing of rewards. Key features include:

  • Unlimited Cash Back: Parents can earn up to 3%¹ unlimited cash back on every dollar they spend. Cash back is simple and transparent based on how much is spent in each billing cycle, with no limits or categories.
  • Optional Auto-Investing: Cash back rewards can be automatically invested in stocks and ETFs to propel savings for college or other family goals. Investments can be set to a recurring or one-time basis using Greenlight’s in-app investing platform.
  • Flexible Rewards Redemption: Alongside investing, parents also have the flexibility to choose to redeem rewards as a statement credit toward their balance or deposit directly into their Greenlight account.
  • World Mastercard® Benefits⁴: Families receive access to exclusive offers from their favorite brands like DoorDash®, Lyft® and ShopRunner® as well as access to Mastercard’s Priceless Experiences. Mastercard ID Theft Protection™ and Zero Liability⁵ are also included for added protection against identity theft and fraud.⁶
  • No Annual Fee²: The Greenlight Family Cash Card has no annual fee with a Greenlight subscription and no foreign transaction fees.

The Greenlight Family Cash Card is issued by First National Bank of Omaha (FNBO®), member FDIC, pursuant to license by Mastercard International. The Greenlight Family Cash Card is powered by FNBO and Marqeta.

[To share your insights with us, please write to sghosh@martechseries.com]

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