Credit card

Gemini 2021 credit card review – Forbes Advisor


Gemini credit card* compared to the Visa Signature Rewards BlockFi credit card*

The BlockFi Bitcoin Rewards Credit Card is another cryptocurrency-generating credit card that is expected to hit the market. This card offers a flat-rate 1.5% crypto discount on all your purchases without bonus categories.

The big differentiator between Gemini Credit Card and BlockFi Bitcoin Rewards Credit Card is the timing of your crypto earnings. The Gemini Credit CardTM converts your rewards into cryptocurrency in real time. In contrast, you earn 1.5% cash back with the BlockFi Bitcoin Rewards credit card, and then it is converted to Bitcoin each month when your statement closes.

It makes a big difference depending on how quickly you want to convert your rewards to crypto. If you want your rewards to be converted instantly, the Gemini Credit CardTM will be a better card for you. The BlockFi Bitcoin Rewards credit card offers a better return on your daily spending at 1.5%, but you are also limited to Bitcoin only. Gemini allows you to convert your rewards into any cryptocurrency available on the Gemini platform.

The BlockFi Bitcoin Rewards credit card comes with a welcome bonus, so if you are looking for a crypto kickstart this may be the choice for you. Both cards have no annual fee.

Gemini credit card* vs SoFi credit card

Another credit card with no annual fee to consider is the SoFi credit card. You earn 2% unlimited cash back on qualifying purchases when you use them to invest, save, or pay off a qualifying loan with SoFi, which means for most purchases you earn twice as much as with the credit card. Gemini credit. You earn 1% less on meals, but as an everyday card you earn more with the SoFi credit card.

You can convert your SoFi credit card rewards to cryptocurrency with an active SoFi investment account. You can convert your rewards into cryptocurrency easily and quickly on the SoFi app. The SoFi credit card also comes with other perks, such as a free ShopRunner account and a 3-month free trial for DoorDash’s DashPass. In addition, the SoFi credit card offers free coverage for cell phones up to $ 1,000.

SoFi credit card rewards aren’t limited to crypto either, you can use it as a cash back card if you want. This flexibility definitely makes it a card to consider over the Gemini credit card.

Gemini credit card* compared to the Citi® Double Cash card

The last card on our list is the Citi Double Cash. Like the SoFi credit card, the Citi Double Cash works like a 2% cash back card. You get 1% cash back when you make the purchase and 1% cash back when you pay off your balance. Not getting the second 1% before paying your statement gives standard 2% cash back cards the advantage over Citi Double Cash, but if you pay your balance in full monthly, it basically works like a cash back card. in 2% silver.

Why consider the Citi Double Cash instead of the Gemini credit card? Earning 2% Cash Back on all purchases is greater than your Gemini Credit Card earnings in all categories except meals. You can get all of your money back on Citi Double Cash and invest it in any cryptocurrency of your choice, including on the Gemini platform. New cardholders receive an introductory 0% APR on balance transfers for 18 months. After that, the standard variable APR will be 13.99% to 23.99%, depending on your creditworthiness. A balance transfer fee is $ 5 or 3% of the amount of each transfer, whichever is greater. This card does not offer an introductory APR on purchases.

The main advantage of the Gemini credit card over Citi Double Cash is the convenience of automatically converting your rewards into the cryptocurrency of your choice. But with a little work, Citi Double Cash will give most users more income and more flexibility in how they want to exchange their money, whether it’s for cryptocurrency or conventional currency.