Re: Blockfi Bitcoin Rewards CC

M_Smart007 · ‎07-14-2021

Congrats on your BlockFI approval

gdale6 · ‎07-15-2021

Nice, grats on the BFi Bitcoin approval!

RootDet · ‎07-15-2021

Congrats. I am on the waiting list but will likely not apply. the only product available to me with blockfi is BIA. So it would not be a good fit.

Psmith · ‎07-15-2021

@trant3 wrote:
Congrats but couldnt you just get 2% back with, lets say, the Sofi MC and buy BTC instead blockFi's 1.5%?

One problem with the SoFi card is that the earned bitcoins can't be withdrawn. For this reason, I don't consider them to be real bitcoins, but merely a book entry with SoFi that tracks the price of bitcoin.

trant3 · ‎07-15-2021

@Psmith wrote:
@trant3 wrote:
Congrats but couldnt you just get 2% back with, lets say, the Sofi MC and buy BTC instead blockFi's 1.5%?
One problem with the SoFi card is that the earned bitcoins can't be withdrawn. For this reason, I don't consider them to be real bitcoins, but merely a book entry with SoFi that tracks the price of bitcoin.

But you can use the 2% cash back earned from the Sofi Card, redeem it for cash as 2%, then buy real BTC with the same funds.

Amex Bonvoy Brilliant $5k, Expedia OneKey $30k, Fidelity $23.5k, FNBO $15k, Universal Studios Visa $15k, G-Bank $15k, Mesa Homeowners Visa $20k, FourLeaf FCU $35k, US Bank Cash+ 15k, US Bank Alt. Reserve $16k, Affinity FCU $10k, Sofi $15k, Venmo Visa $15k, AAA $11.9k, Apple $8.5k, Citi Custom Cash $19k, Citi Double Cash $16k, Citizens Bank Cash Plus $11k, Chase Amazon $3k, Chase Flex $13.6k, Chase IHG $1k, AMEX Hilton Aspire $18k, Chase Freedom $41.5k, NFCU Plat $50k, NFCU Flagship $30k, Discover IT $36.5k, Discover Miles $20k, BECU Visa $40k, Wells Fargo Active $11.3k, PenFed Promise $15k, PenFed Gold $20k, BoA AmeriCard $14k, BoA Cash $14k, Citi SYWM $1k

FalconSteve · ‎07-15-2021

@Psmith wrote:
@trant3 wrote:
Congrats but couldnt you just get 2% back with, lets say, the Sofi MC and buy BTC instead blockFi's 1.5%?
One problem with the SoFi card is that the earned bitcoins can't be withdrawn. For this reason, I don't consider them to be real bitcoins, but merely a book entry with SoFi that tracks the price of bitcoin.

I'm confused. They use the cashback to buy 1.5% worth of bitcoin, so why is that different from earning 2% from SoFi or Fidelity & buying Bitcoin from a third party? They aren't mining Bitcoin themselves.

1/8/17 Discover $18300 CL- $1k SL- AU, wife
1/26/20 AmEx Cash Magnet $35k CL, wife
2/19/20 BB&T/Truist Rewards $11k SL- impulse application
2/22/20 Citi Double Cash WEMC $2.9k-->$4.4k-->$8.4k-->$13.4k-->$17.4k-->$19.4k-->$22.4k-->27.4k AU, wife
3/8/20 Wells Fargo Propel AmEx/Autograph VISA $2900-->$3200-->$5000-->$8800-->$13k-->$15.5k CL- AU, wife
3/9/20 Truist Rewards $11k SL --> $13.5k- AU, wife- impulse app
3/21/20 REDcard MasterCard (TD Bank) $2500-->$6000-->$6500 CL
11/24/20 AmEx Cash Magnet $10k SL-->36hr-->$20k-->$35k CL
6/10/21 SoFi World Elite MC $7000 SL
1/19/22 AppleCard/GS $6k-->$10k-->$11k-->$12k AU, wife
8/15/22 Chase freedom flex $10.3k SL-->$12.5k-->$15k-->$19k AU, wife
7/5/23 Lowes/Synchrony $4k-->$10k-->same day-->$35k CL
8/2/23 Chase freedom flex $19k --> $22.8k-->24.3k CL
8/2/23 Discover $8k SL

Anonymous · ‎07-19-2021

@FalconSteve wrote:
@Psmith wrote:
@trant3 wrote:
Congrats but couldnt you just get 2% back with, lets say, the Sofi MC and buy BTC instead blockFi's 1.5%?
One problem with the SoFi card is that the earned bitcoins can't be withdrawn. For this reason, I don't consider them to be real bitcoins, but merely a book entry with SoFi that tracks the price of bitcoin.
I'm confused. They use the cashback to buy 1.5% worth of bitcoin, so why is that different from earning 2% from SoFi or Fidelity & buying Bitcoin from a third party? They aren't mining Bitcoin themselves.

BlockFi charge 1% spread fee for everyone buy crypto from their exchange, and they charge 0.5% spread fee for their clients with their cc

1.5% + 0.5% = actually 2% (TO THEM) , yes many cards out there can get 2% cash back but if you use that 2% cash back to buy Bitcoin you will need to pay 1% spread fee = Almost the same. Here is the key, they give you extra 2% APY on your saving max cap $200 each year, meaning that they PAY YOU $200 per year just to keep their card. So why not ???

G_Hiro · ‎07-19-2021

Congrats on the approval!

Can't wait till I can apply but I'm 200,000+ on the waitlist right now.

MrT_521 · ‎07-20-2021

@tg4life wrote:
I got on the waitlist on May 21st. I did 4 referrals and got my position number from 300k to 6094.

@G_Hiro wrote:
Congrats on the approval!

Can't wait till I can apply but I'm 200,000+ on the waitlist right now.

I joined the waitlist last week. I also signed up for an account, but it is still in the verification approval stage. My waitlist position was still at 372k tonight. I sent about 5 referrals using various emails, and my position jumped all the way to 3k!

Personal Cards

Citi CashReturns (June 2009): $1,700 Limit

Chase Freedom (April 2013): $4,100 Limit

Discover (September 2015): $19,200 Limit

Capital One QuickSilver (June 2017): $10,000 Limit

Citi Double Cash (August 2017): $12,500 Limit

Chase Amazon Prime (November 2017): $2,300 Limit

Chase Freedom Unlimited (May 2018): $20,000 Limit

HSBC Cash Rewards (December 2019): $2,500 Limit

Citi Rewards+ (January 2020): $3,300 Limit

SDFCU Premium Cash Back+ (May 2020): $13,000 Limit

United Gateway MileagePlus (February 2021): $20,000 Limit

BlockFi Bitcoin Rewards (August 2021): $15,000 Limit

Chase IHG Premier (November 2021): $5,000 Limit

American Express Green Resy (March 2022): No Preset Spending Limit

Citi Premier (September 2022): $11,000 Limit

Business Cards

Chase Ink Cash (November 2019): $1,001 Limit

Chase Ink Preferred (March 2020): $8,999 Limit

American Express Amazon Prime Business (November 2021): $6,000 Limit

American Express Business Platinum (January 2022): No Preset Spending Limit

American Express Business Green (March 2022): No Preset Spending Limit

American Express Blue Business Plus (April 2022): $20,000 Limit

Barclays AAdvantage Aviator World Elite Business Mastercard (May 2022): $2,000 Limit

American Express Business Platinum (June 2022): No Preset Spending Limit

Barclays JetBlue Business (June 2022): $1,000 Limit

Chase United Club Business (August 2022): $15,000 Limit

Debit Cards

Crypto.com VISA Debit Jade Green (May 2021)

American Express Business Debit 1 (September 2022)

American Express Business Debit 2 (December 2022)

FICO 8 Scores (as of Dec 14, 2022)

ZackAttack · ‎07-20-2021

@trant3 wrote:
Congrats but couldnt you just get 2% back with, lets say, the Sofi MC and buy BTC instead blockFi's 1.5%?

I heard the card comes with an intro of like 3% CB for x days and the stable crypto like, USDC, does get a +2% APY increase of what it currently has when you get this card.

Blockfi Bitcoin Rewards CC

Get your FICO® Score for free