Visa and Blockfi have partnered with each other to release the first credit card that provides bitcoin rewards. If you’ve had an interest in collecting bitcoin, this credit card will be a great way to get started. It’s great for those who are already investing in bitcoin too. Who could turn away an easy way of getting more BTC?
Who is Blockfi?
Blockfi is a trusted cryptocurrency exchange where you can buy, sell and stake cryptocurrency. Staking cryptocurrency allows you to earn interest on your holdings. Forbes recognized Blockfi as one of the top 50 fintech companies in 2021.
The Blockfi Rewards Visa Signature Credit Card offers 3.5% bitcoin rewards on all purchases for the first 90 days of activating the card. Your introductory rewards cap at $100 in bitcoin. You would have to spend around $5,000 to earn the $100 of bitcoin.
1.5–2% Back on Every Purchase
After the introductory offer expires, you’ll earn 1.5% bitcoin on every purchase. There aren’t any foreign transaction fees or an annual fee. Once you’ve reached an annual spend of $50,000 with the credit card, you’ll begin earning 2% bitcoin rewards on your purchases. You can see if you’re pre-approved for the credit card without it impacting your credit score. The rewards tracking resets on the card anniversary date each year, so you get a full year to rack up the rewards after activating your card.
0.25% Back on Eligible Trades
Another benefit of the Blockfi Rewards Visa Signature Credit Card is you can earn 0.24% bitcoin rewards on your trades. You can earn up to $500 in bitcoin each month through this bitcoin back benefit.
The Blockfi Rewards Visa Signature Credit Card also has a referral bonus. You’ll earn $30 of bitcoin for each referral.
A Luxury Lifestyle
Credit Card holders have access to unique experiences, such as sporting events, wine and food events, travel opportunities, premium car rentals and luxury hotels. You also have 24/7 access to your Visa Signature Concierge. This service helps you book flights, reserve restaurants, snag event tickets and more.
Not Limited to Bitcoin
You have the option of changing the cryptocurrency you want to receive rewards in with this credit card. Any cryptocurrency on Blockfi is available to choose for your rewards. You can change your cryptocurrency as many times as you want. Whatever you have selected by 11:59:59 UTC on the last day of the month is what you’ll receive in rewards in the next payout. Rewards payouts are on the second Friday of every month.
Who can apply?
All US residents who have good to excellent credit except for New York residents can apply for the credit card. You need to have a Blockfi account to apply as well. Setting up a Blockfi account is easy to do. The Blockfi Rewards Visa Signature Credit Card isn’t available for business accounts at this time. You’ll need to use a personal account to get the credit card.
The Blockfi Rewards Visa Signature Credit Card is a great way to supplement your investments. It provides generous crypto rewards on every purchase and also has lenient terms.