We’re excited to announce an innovative new product we’ve been working on for a long time: the first credit card that lets you earn bitcoin back with every purchase. Now the waiting list for the BlockFi Bitcoin Rewards Credit Card is officially available to clients with funded BlockFi accounts in the BlockFi app.
Today, we’re sharing the card design, key economic terms and roadmap for the BlockFi Bitcoin Rewards Credit Card.
Bitcoin Rewards Card
The way the card works is simple. After applying and being approved, you’ll receive a credit limit (in USD). You can spend this limit each month, and if you pay your statement balance on time you won’t be charged any interest on the balance. For every transaction that you make on the card, 1.5% cash back will accrue and then automatically be converted to bitcoin and placed into your BlockFi account on a regular monthly cycle. And yes, the card is metal and we hope you love the sleek design as much as we do.
We’re also offering a signup bonus of $250 in bitcoin after spending $3,000 or more on the card within the first three months, giving everyone the chance to earn extra bitcoin in a familiar way. The card will have an annual fee of $200. After launching the product, we plan to add more features and offers over time, including new benefits both on and off BlockFi’s platform.
Bitcoin Card: The Benefits
This product will change the landscape for earning bitcoin in several major ways:
- It’s the first credit card in the crypto ecosystem and the first time the bitcoin logo has been featured prominently on a physical card.
- The 1.5% rate is the highest bitcoin rewards rate available for any card product in the market and accrues with every purchase.
- The $250 bonus in bitcoin returns $50 in bitcoin above the $200 annual fee after spending $3,000 on the card in your first three months.
- Consumers prefer credit cards over debit cards for the numerous benefits that they offer, including better purchase protections, greater reward rates, and opportunities for building credit.
We hope this card will be a valuable personal financial tool for our clients to earn bitcoin while making everyday purchases. Additionally, we hope it helps expose more people to bitcoin and ultimately creates more bitcoin owners.
The card will initially be available only in the US, but we encourage folks outside the US to join the waiting list so that we can let them know when we have a card product available in their region.
We’d like to thank our partners Visa, Evolve Bank, and Deserve for their work in helping us bring this innovative product to market.
Clients with funded accounts can join the waiting list starting today. In January, we’ll make the waiting list available publicly and will start shipping cards in spring of next year.
The BlockFi Bitcoin Rewards Card is for individuals, not businesses. If you are a business client and wish to join the waitlist, you and your employees can open a personal account to participate.
If you want to learn more about the card and what it means for the crypto industry at large, check out this video:
As always, don’t hesitate to reach out to us with any questions. And thanks for your continued support!
Joining the waitlist to apply for the BlockFi Bitcoin Rewards Credit Card (“Card”) does not guarantee that you will be eligible to receive the card. Geographic, regulatory, and underwriting restrictions will apply. Fees and terms are subject to change, and additional terms of service will apply to the Card.Last updated on