In my post about the BlockFi Visa, I said I got the card to replace the Amex Platinum card that American Express canceled on me for no valid reason. In this video, I explain why American Express canceled my cards even though I have a near perfect credit score and was never late on any payments. There’s a good lesson to take away from this.
For the longest time, my go to rewards credit card was the Platinum American Express. However, since Amex canceled it, I was on the hunt for a new rewards card. That’s how I happened onto the BlockFi Visa.
What makes the BlockFi Visa card unique is it’s the first Visa card that pays you rewards in bitcoin. You will receive 1.5% back (3.5% for the first three months) in bitcoin on every purchase you make.
I charge six figures a year to my credit cards, so this is a great way to “stacks some stats” as they would say in bitcoin speak. And unlike the typical reward points that you’ll get with other credit cards, the bitcoins you’ll be earning with the BlockFi Visa may actually go up value.
The bitcoins are paid out every month to your account. You can then transfer the coins to your hardware wallet or leave it in your BlockFi account. If you leave it in your account, the bitcoin will earn 4.5% interest that is also paid to you in bitcoin!
When BlocFi first introduced their bitcoin Visa card, it had a $199 annual fee. However, the fee has now been removed. In addition to no annual fee, there’s also no foreign transaction fee. That’s important to me since I travel a lot.
Currently, the BlockFi Visa is available only to US residences. To get the card, all you have to do is sign up for a BlockFi account and then apply for it. Because they do a soft pull, there is no impact on your credit score to get pre-approved.