I am one of those people that believe in using credit cards and leveraging their rewards. If done correctly, you can make very smart financial moves but utilizing rewards or credit limits. I know for some people credit cards aren't used for the rewards, but if you like to float around on some of the "money" sides of social media, you'll see that this is pretty common.
But I'm not here to tell you about credit cards and where to get them or even what to look for. No, I'm here to touch on the BlockFi credit card once again. I believe I had mentioned it a while back in a post, but I can't say for sure. And I can't easily find a way to go back and dig that deep...
Either way, the idea of this credit card is that you would earn 1.5% back on your purchases. Sounds pretty standard right? WRONG. Because that 1.5% is rewarded in $BTC. Yup, big juicy bitcoin rewards!
Right now I have a FOLD debit card that rewards me in bitcoin rewards as well. However, the rewards in this debit card are pretty hard to predict. A lot of times you have to get lucky to get the rewards. I'm not saying it's a bad card, but it has its purposes and limitations. I also have a regular credit card from Fildelity that gives me 2% cash back into my brokerage account. That is a very powerful reward as well. I use these rewards to still fund my investments outside of the crypto world.
Basically, the BlockFi credit card could be a card that would be the best of both worlds. Rewards in bitcoin as well as generous credit limits and payback periods. Of course, there will be many other factors that I'll consider if I plan to switch my primary cards around.
But, why am I bringing this up the mention of this card again? BlockFi sent out an email to those that were interested in the credit card when it was first announced. I guess I signed up for the wait list soon enough during that campaign and I got myself pretty high up on a wait-list. The email they sent was filled with new info about rewards and promotions related to the release of the credit card. Since I was high on the wait list I figured I would take a look at the news.
From reading the email I can see that the 1.5% isn't going to be the major selling point on this card now. These other generous features are what are catching my attention. The extra interest on stablecoin balances is great. I cannot wait to take advantage of that promotions. Also, I know I will be able to spend $3000 within 3 months, so that promotion won't be hard to take advantage of either.
I dare you to try and find a feature within this promotion that isn't going to benefit you. I'm not saying that to sound cocky, but I am just super impressed and excited for what is going to come.
I love my current cards, but how can I see these rewards and not want to take part? I'm sure you would be tempted too!
Unfortunately, I believe the BlockFi products and services are only available for US Citizens right now since they are based out of New Jersey. I apologize in advanced for those that got hyped while reading this article. If it makes you feel better, I can't take advantage of NEXO tokens and rates because I'm a US Citizen. I'd say we are even right?
And what is a good post about a new product without a friendly sharing of a BlockFi referral link?
