BlockFi Bitcoin Rewards Credit Card
Update (Jul. 7, 2021) – The BlockFi Rewards Visa Signature Credit Card has a new signup bonus with an additional $75 bonus. Each swipe earns you 3.5% back in crypto on every purchase for the first 3 months! Earn 0.25% back in crypto everytime you buy when you’re a BlockFi Rewards Credit Card holder. And for a limited time, get a $75 bonus just by using your card for the first time. Use promo code CREDITCARD75 and apply by 1/31/2022. This offer is available to residents of the United States who do not reside in New York or Kentucky. The $75 GUSD promo payouts will be made in the calendar month following the first qualifying purchase. HT: Compulsivechurner
Update (Jul. 7, 2021) – BlockFi has announced that the BlockFi Rewards Visa Signature Credit Card is currently available to select approved US waitlist clients. Since launching the waitlist in December 2020, the BlockFi Rewards Visa Signature Card waitlist has amassed nearly 400,000 people. Following successful beta testing, BlockFi and its partners have begun offering those first in line on the credit card waitlist to apply and releasing the card to select clients. If you haven’t joined the waitlist yet, you can still do so.
Update (May 25, 2021) – BlockFi has decided to eliminate the annual fee for the BlockFi Rewards Visa® Signature Credit Card. In addition, there are no foreign transaction fees, so travelers can feel free to use their card abroad.
BlockFi is also increasing the introductory earnings rate for cardholders. Clients who are approved for the card will now receive a 3.5% Bitcoin rewards rate for the first 90 days(1). In addition, there will be a new rewards tier: cardholders will earn 2% back in Bitcoin on every dollar spent over $50,000 annually. Applicants can see if they’re pre-approved without impacting their credit score before they apply.
Update (Feb. 25, 2021) – The company has released a new set of exclusive rewards for BlockFi credit card holders. In addition to the unlimited 1.5% bitcoin rewards on all transactions and a $250 bonus after spending $3,000 or more in the first three months, BlockFi card owners will receive:
- Bitcoin Rewards Rate Boost — After three months of card ownership, the rewards rate of 1.5% back increases to 3.5% back in bitcoin on every purchase for the following three months, with an accrual payout of up to a maximum of $100 in bitcoin, paid out in the seventh month.
- Stablecoin Boost — Card owners that hold stablecoin assets such as GUSD, PAX, or USDC in a BlockFi Interest Account (BIA) will earn an extra 2% APY on top of BlockFi’s current stablecoin APY. The bonus earnings accrue over the first year of card ownership based on an account’s average daily stablecoin balance and will be paid in the first month after annual renewal as a bonus of up to $200 in bitcoin.
- Trading Bonus — Card owners who trade cryptocurrencies with BlockFi will earn 0.25% of their trading volume back in bitcoin, up to a maximum of $500 in bitcoin each month. Note: stablecoin to stablecoin trading is excluded from this bonus.
- Refer-a-Friend Bonus — Card owners will earn an additional $30 in bitcoin for each successful referral to BlockFi. Currently, BlockFi account holders receive $10 in bitcoin for their first four new client referrals and $20 in bitcoin for every referral after that. With this bonus, users can earn $40 in bitcoin for each of their first four referrals and up to $50 in bitcoin for each referral thereafter.
The BlockFi Bitcoin Rewards Credit Card is expected to begin shipping to consumers later this year. If users want to take advantage of these added rewards but haven’t signed up for the BlockFi Rewards Credit Card waitlist yet, they can claim a spot on the list today.
Original article (Dec. 1, 2020) – Visa is partnering with cryptocurrency startup BlockFi to offer a credit card that earns you Bitcoin rather than miles, points or cash back. BlockFi Bitcoin Rewards Cardholders will receive 1.5% of their purchases back in the form of Bitcoin for all purchases. The 1.5% cashback that is earned, will be converted to bitcoin and placed into a BlockFi account in a regular monthly cycle.
The card also has a signup bonus. You can earn $250 in the crypto-asset if you spend more than $3,000 in the first three months. The card, which comes with a $200 annual fee, will be issued by Evolve Bank & Trust. And yes, the card is metal. Now the waiting list for the BlockFi Bitcoin Rewards Credit Card is officially available to clients with funded BlockFi accounts in the BlockFi app.
“We’re excited to add credit cards to our suite of products and expand Bitcoin’s accessibility to a broader set of consumers,” Zac Prince, chief executive officer and founder at BlockFi, said in the statement. The company hopes to make the card available in early 2021.
The card will initially be available only in the US. Those outside the US are invited to join the waiting list.
Bitcoin has surged about 160% this year.