New Crypto (up to 3%) cashback card

TryItAgain · ‎01-14-2021

I just got an email to sign up for waitlist on a new Gemini 3% cashback card. Gemini is a crypto-currency broker similar to Coinbase but smaller. No clue on the terms but seems interesting anyway. Likely will pay 3% back in crypto from usd card spends but I'm fine with that.

https://www.gemini.com/credit-card/waitlist

That was the url from my email where I signed up, if anyone else jhears or knows anything please advise.

MisterWives · ‎01-14-2021

Interesting seems like a fun way to get rewards. Not sure how I feel about my cashback reward amount fluctuating in value lol

Discover IT Chrome $8,550 | Opened 9/2017 | 2% Restaurant & Gas / 1% Everything

Best Buy Store Card $10,000 | Opened 11/2018

Amazon Store Card $10,000 | Opened 12/2018 | 5% Amazon Purchases (Requires Prime)

PNC Cash Reward Visa $10,500 | Opened 12/2018 | 4% Gas / 3% Restaurant / 2% Grocery / 1% Everything

Chase Freedom $5,200 | Opened 1/2019 | 5% Category Rotation

Amex Blue Cash Everyday $5,000 | Opened 4/2019 | 3% Grocery / 2% Gas / 1% Everything

Banana Republic $10,000 | Opened 6/2019 | Banana Republic 5x pts per $1 / Everything 1x pt per $1

Costco Anywhere Visa $10,000 | Opened 7/2019 | 4% Gas / 3% Restaurant / 2% Costco & Grocery / 1% Everything

Citi Rewards+ $2,000 | Opened 8/2019 | 2x pts Grocery & Gas | 1x pts Everything

BB&T Rewards $4,500 | Opened 8/2019 | 3% Gas / 2% Utilities & Grocery / 1% Everything

PNC Points Visa $1,800 | Opened 8/2019 (PC in 2020) | 4pts per $1

Home Depot Store Card $5,001 | Opened 10/2019

Discover IT $14,500 | Opened 11/2019 | 5% Category Rotation

Synchrony Mastercard $7,500 | Opened 12/2019 | 2% Everything

Capital One Quicksilver $1,000 | Opened 12/2019 (PC in 2020) | 1.5% Everything

Wells Fargo Platinum Visa $6,500 | Opened 4/2020 | No Rewards

Ulta Mastercard $4,900 | Opened 6/2020 | Ulta 1x pt per $1 / Everything 1x pt per $3

Amex Hilton Honors $6,000 | Opened 6/2020 | 7x pts Hilton / 5x pts Restaurants & Gas & Grocery / 3pts Everything

PSECU $10,000 | Opened 6/2020 | 1.5% Everything (2% with Checking and Deposits)

First National Bank of Omaha Platinum Visa $15,000 | Opened 10/2020 | No Rewards

Apple Card $5,000 | Opened 1/2021 | 3% Apple / 2% Apple Pay / 1% Everything

Venmo Credit Card $7,000 | Opened 1/2021 | 3% Category / 2% Category

PenFed Power Cash Rewards Visa $17,500 | Opened 1/2021 | 1.5% Everything(2% with Checking)

Citi Custom Cash $5,000 | Opened 5/2022 | 5% Category

Wants: PenFed Pathfinder Rewards(4x pts travel), PenFed Platinum Rewards Visa Signature (5pts Gas, 3pts Restaurants and Grocery), U.S. Bank Cash+ (5% Categories), Chase Freedom Flex (5% Rotating Categories, 5% Travel, 3% Restaurants)

KJinNC · ‎01-14-2021

If you scroll to the bottom, I notice it says "... earn up to 3% ..." emphasis added. Very interested in learning more details when they're available. Thanks for posting!

MisterWives · ‎01-14-2021

@KJinNC wrote:
If you scroll to the bottom, I notice it says "... earn up to 3% ..." emphasis added. Very interested in learning more details when they're available. Thanks for posting!

Ah yes the good old marketing tactic of "Up to X" I have less hope for this card now

Wants: PenFed Pathfinder Rewards(4x pts travel), PenFed Platinum Rewards Visa Signature (5pts Gas, 3pts Restaurants and Grocery), U.S. Bank Cash+ (5% Categories), Chase Freedom Flex (5% Rotating Categories, 5% Travel, 3% Restaurants)

gregorius · ‎01-14-2021

Blockrize (crypto card startup) sent an email to their waitlist this morning that they've been acquired by Gemini (crypto exchange) - I bet this is the result. They were originally offering a 1% crypto card, and IIRC the 3% earnings they tout includes the appreciation of the various currencies you can choose to earn.

Andypanda · ‎01-14-2021

@MisterWives wrote:
Interesting seems like a fun way to get rewards. Not sure how I feel about my cashback reward amount fluctuating in value lol

I have tge CS platinum, i like investing my rewards, just unsure if I'm ready to invesin bitcoin.

Anonymous · ‎01-14-2021

I used to not like rewards cards for investment (because you would have to add funds to invest rewards), like the 2% cash back Fidelity card. But now that you can buy partial shares with no fee, these types of cards could become more popular.

This one is interesting. If they would have offered this card 4 years ago, it would be by far the best rewards card in the history of credit cards. But, not sure how long the bitcoin runup will go, even though it wouldn't bother me to read candlestick charts to see my rewards balance history.

wasCB14 · ‎01-14-2021

@Andypanda wrote:
@MisterWives wrote:
Interesting seems like a fun way to get rewards. Not sure how I feel about my cashback reward amount fluctuating in value lol
I have tge CS platinum, i like investing my rewards, just unsure if I'm ready to invesin bitcoin.

That's my take. I'll let cards influence where I invest (the brokerages), but I don't want them to influence my thinking on how I invest.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

wasCB14 · ‎01-14-2021

@Anonymous wrote:
I used to not like rewards cards for investment (because you would have to add funds to invest rewards), like the 2% cash back Fidelity card. But now that you can buy partial shares with no fee, these types of cards could become more popular.

This one is interesting. If they would have offered this card 4 years ago, it would be by far the best rewards card in the history of credit cards. But, not sure how long the bitcoin runup will go, even though it wouldn't bother me to read candlestick charts to see my rewards balance history.

The process through which tax software electronically imports brokerage 1099 forms isn't perfect. Keep in mind that when you actually sell all those partial shares, it may take a long time to manually check your return's accuracy.

Less of a concern in tax-advantaged accounts.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select

Anonymous · ‎01-14-2021

@wasCB14 wrote:
@Anonymous wrote:
I used to not like rewards cards for investment (because you would have to add funds to invest rewards), like the 2% cash back Fidelity card. But now that you can buy partial shares with no fee, these types of cards could become more popular.

This one is interesting. If they would have offered this card 4 years ago, it would be by far the best rewards card in the history of credit cards. But, not sure how long the bitcoin runup will go, even though it wouldn't bother me to read candlestick charts to see my rewards balance history.
The process through which tax software electronically imports brokerage 1099 forms isn't perfect. Keep in mind that when you actually sell all those partial shares, it may take a long time to manually check your return's accuracy.

Less of a concern in tax-advantaged accounts.

Yeah, I haven't actually sold any of those shares. Hopefully my brokerages will handle it correctly on the tax statements.

I guess bitcoin investments from this card will have the same issues, if any. Nothing like getting a 1099 with your year-end rewards statement.