It’s time to learn more about the BlockFi Credit Card and everything it can and cannot do for you. People are trying to learn more about the new card and how it relates to Bitcoin. Does the BlockFi Credit Card really reward you with Bitcoin on every single purchase?
This is exactly what it says under the “Accrued Rewards” text inside the actual BlockFi portal when you are logged in as a customer with an active credit card account:
number of reward points will be redeemed for an amount of bitcoin on the redemption date each month (for each reward point, you will earn approximately $.01, denominated in bitcoin on the redemption date). Reward points have no cash value and may not be withdrawn or transferred. The amount displayed here is an estimated amount based on the current price of bitcoin and may or may not equal the actual amount of bitcoin paid on the redemption date depending on fluctuations in the price of bitcoin.
The remainder of the portal looks fairly similar to any of the portals most have seen with credit cards. There are tabs to check on transactions and statements and of course buttons to click to make a payment. You can also manage bank account settings to use for payments and work with customer service or handle disputes and lost cards. All the standard stuff is there. There are also points as well on the available countries, credit scores, benefits, requirements, and metal features of the card itself. The card is very slick and impressive when it arrives.
The bigger point may be how to maximize the rewards you get from the BlockFi Credit Card. After all, you are getting back free bitcoin. One such option would be to literally pay for as much as possible from your expenses with the BlockFi Credit Card and simply use the fiat onramps to and from your checking account to make consistent payments. This makes sense if you clear the balance consistently and avoid paying any interest or fees. You can amplify your free Bitcoin by also using a service like sMiles Bitcoin App or Lolli.
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