I don't see what is in this for the consumer either. If you are not already a holder, why would anyone want the hassle of becoming one, just to pay high fees for each and every transaction (e.g. the 2.49% "crypto liquidation fee" for this card) when you can get a cashback card (e.g. mine gives me up to 10% cashback on some purchases), and why would you not want your assets working for you until as late as possible (not until point of purchase as in this case but up to 5-6 weeks later when a conventional monthly credit card bill become due)? And if you are a crypto holder, why would you want to transfer custody of your crypto to Coinbase and make your tax return a nightmare (i.e. with a potentially large number of small disposals)?
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what card do you have and what do you get 10% back on?
Its a NatWest Reward card. Cashback is normally 0.5-1%, but they have additional cashback from selected vendors at different times, e.g. they had 10% on amazon.co.uk purchases and 3% for household bills at one point, and current offers include 10% off at a restaurant I'm already scheduled to visit. Monthly fee is £2 so you need to work out if the additional cashback is likely to net you more than £24pa. Disclaimer: not affiliated with the company, and not saying its the only option or necessarily even the best option - just answering a question.
Not OP either, but Square cash debit card lets you get a “boost” (aka discount) at some stores. Some of them are 10% off.
Not him but the Discover It card gives rotating 5% cash back and a cashback match for the first year, making it 10%.
Wow, that's a pretty good deal. How widely accepted is Discover these days? I'm curious what has your experience been? Cheers.
I’ve had this card for a few years, I rarely encounter someone who doesn’t accept it. (United States) I carry this card, the citi cash back master card and the amazon prime visa. Figure at least one works and I prioritize best reward.
Also the categories they offer 5% on (amazon, gas, restaurants, grocery) are likely to take discover.
Thanks for the feedback, good to know. Interesting you mentioned the Amazon card. I would actually be curious to hear your experience with that Amazon card. In looking at the reviews on their site, nearly the entire last two years reviews are pretty abysmal review(one star.) Cheers.
I have had an amazon card for a few years now.
I can't say anything bad or good about it. I get 1% back (or points to spend at amazon) for any purchases, 2% points back for gas, and 3% points when I use it at amazon.
There's been more than several times where it looked like it never applied the points to my account though. I always paid it off in full every month, and sometimes it works sometimes not. When I lived on the road and used it for hotels, while getting reimbursed from them, I was able to rack up $1500 worth of points.
Other than that, it's been fine. Looking around for something a bit better though.
Costco card is better for gas, restaurants, and travel. Double cash card is 2% on everything. Both are Citi, so its one app and account, just have to remember if youre buying gas, restaurant, travel or costco.
why would you not want your assets working for you until as late as possible (not until point of purchase as in this case but up to 5-6 weeks later when a conventional monthly credit card bill become due)?
So paint a picture for me. How do I otherwise conveniently pay off my credit card bill with crypto? (Honestly, I would like to know, and such information would be a benefit to the general public.)