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Mr Credit Card
Mr Credit Card- Earn up to 3% back on dining, 2% on groceries, and 1% on all other purchases. Crypto rewards will automatically be deposited into the cardholders’ Gemini account
- The Gemini Credit Card will pay crypto rewards out at the time of purchase
- No annual fee
- Cardholders will have access to customer support through a variety of channels including 24/7 live agent support
| Pros | Cons |
|---|---|
| Issued by crypto exchange | Need to open account with Gemini |
| Can choose which crypto to earn | |
| No exchange fee | |
| No Annual Fee | |
| No Foreign Transaction Fee | |
| Cryptos are earned immediately after spending on card | |
| Card ready for immediate use via app and digital wallet |
At A Glance
Card Details
| Annual Fee | $0 |
| Foreign Transaction Fee | 0% |
| Rewards |
3% on dining 2% on groceries 1% on all other purchases |
| Exchange Fees | No exchange fees when crypto rewards are earned |
Rewards - The Gemini Credit Card has a bonus category rewards system. Cardholders will earn 3% crypto rewards on dining, 2% rewards on groceries and 1% on everythings else. Rewards can be earned in any cryptocurrency that is available on the Gemini exchange and you can choose which crypto you want to earn anytime.
No Exchange Fee and Immediate deposit into your Gemini Account - When you make a purchase, the crypto rewards you earned are deposited immediately into your Gemini account. Furthermore, there is no exchange fee when the cryptos are earned.
No Annual Fee and No Foreign Transaction Fee - Like most of it's crypto peers, Gemini does not charge any annual fee or foreign transaction fee.
Instant Access After Approval - You can use your card immediately (though you may not have received your physical card) via your app and add it to your digital wallet.
Cryptos Earned can be transferred to Gemini Earn - Gemini Earn is an interest bearing account for the cryptos you hold in your Gemini account. The Cryptos that you earn from the Gemini credit card can be transferred to Gemini Earn to earn interest if you choose to do so.
Mastercard Benefits
- Mastercard ID Theft Protection
- Zero Liability
- Price Protection
Three Different Card Designs
Competition
| Card | Annual Fee | Regular APR |
|---|---|---|
| Gemini Credit Card | $0 |
3% on Dining 2% on Groceries 1% on all other purchases |
| BlockFi Rewards Credit Card | $0 |
1.5% in crypto up to $50,000 2% in crypto above $50,000 |
| Sofi Credit Card | $0 | 2% |
| Upgrade Bitcoin Rewards | $0 | 1.5% in Bitcoin |
| Venmo Credit Card | $0 |
3% in highest spending category 2% in 2nd highest category 1% on all other purchases |
There are a few cryptocurrency credit cards out there that can be split into two groups. The first group are cards issued by crypto exchanges themselves and the second group are cards that are not issued by crypto exchanges. So we will split our comparison into these two groups.
Compared with Cards issued by Crypto Exchanges
The only credit card that is issued by another crypto exchange is the BlockFi Credit Card. Other exchanges like Coinbase and Crypto.com only have debit cards so we will not do any comparisons since they are not credit cards. The BlockFi credit card is similar in that there is no annual fee and foreign transaction fee. Like the Gemini credit card, you can earn cryptocurrencies that are available in their exchange including Bitcoin. The main difference between the BlockFi credit card and Gemini Credit Card is that BlockFi is a flat rate rewards card whereas Gemini Credit Card is a Bonus Category Rewards Card. The BlockFi credit card allows you to earn a flat rate of 1.5% in crypto rewards for annual spending below $50,000. For annual spending above $50,000, you earn 2% in crypto rewards. In contrast, Gemini allows you to earn 3% on dining and 2% on groceries and 1% on everything else.Compared on non-exchange Crypto credit cards
There are three credit cards that have crypto rewards. The first is the Sofi Credit Card. Sofi is like BlockFi is that it is a flat rate rewards card. You earn 2% rewards which can be invested in SoFi's cryptco account, in cash back or pay down a Sofi loan. SoFi is not a crypto exchange so you cannot transfer your crypto assets to an external wallet.Another card that allows you to invest your cash back or rewards in crypto is the Venmo credit card. Venmo is also a bonus category credit card like Gemini. You can earn 3% rewards on groceries, 2% on utility bills and 1.25% on everything else. You can choose to use your cash back to purchase cryptocurrencies of your choice. Unlike Gemini where you cash back is earned immediately after the transaction, with Venmo, your cash back will be transferred to a crypto account 1-3 days after your statements.
Another interesting card that offers crypto rewards is the Upgrade Bitcoin Rewards Visa, which works more like an installment loan that a regular credit card. The card allows you to earn 1.5% in Bitcoins. If you are looking to take our a personal loan and want to earn some rewards, this might be the only installment loan type products that actually allows you to earn rewards (let alone in Bitcoin).
Pros: What We Like
- Issued by Crypto Exchange - When you earn crypto rewards through a credit card issued by a crypto exchange, your cryptos get deposited in the exchange itself and you will always have the option of transferring it to an external wallet. This option is not present for crypto credit cards that are not issued by exchanges.
- No Exchange Fee - When you earn the rewards, technically USD has to be converted to a cryptocurrency of your choosing. The transaction or exchange fee will be waived at that point so you will incur no fees when you earn your crypto rewards.
- Can choose what Crypto you wish to earn - Gemini allows you to choose which crypto you want to earn. You can choose to earn your rewards in bitcoin, etherium or any other crypto that is available on the Gemini exchange.
- Earn your rewards immediately - With the Gemini credit card, you will earn your cryptocurrency imediately upon purchase on your card. It will be deposited into your Gemini account immediately.
- Crypto Rewards can be transferred into an interest earning account - Gemini has an interest earning account called Gemini EARN. The rewards that you earn can be transferred to this account. Alternatively, you can transfer them to an external wallet.
- No annual fee and no foreign transaction fee - Gemini credit card has no annual fee and no foreign transaction fee so it can be used anywhere in the world without incurring the usual 2% foreign transaction fee charge.
- Instant Use after approval - Once you are approved you can use the card via your app and add it to your digital wallet even if you have not received the card.
Cons: What we don't like
- Need to have an account with Gemini - There isn't much to dislike about this card. The only requirement is that you need to have an account with Gemini.
Our Take: Gemini is one of the best cryptocurrency credit card
Secondly, not only can you choose which crypto you wish to earn, the rewards that you earn will also be instanted deposited into your Gemini account after you make a purchase on your card. Like most crypto credit cards, there is no annual fee and no foreign transaction fee as well. The rewards are pretty decent although the real focus is that you can earn these rewards in cryptocurrencies of your choice rather than fiat USD.
Based on our review and evaluation, we give the Gemini Credit Card a 4 our of 5 star rating for it's choice of crypto rewards and other conveniences that they have built into this card. If you are bullish on cryptocurrencies and would like a credit card to earn crypto rewards, you would not go wrong with the Gemini credit card. Earning crypto rewards from a card like Gemini also allows you to steadily earn cryptos every month and dollar cost average out your cryptos cost.
How to apply?
FREQUENTLY ASKED QUESTIONS
Which cryptocurrency can I choose from?
Which cryptocurrency can I choose from?
You can choose any cryptocurrency that is available on the Gemini exchange except GUSD (which will be available at a later date).
Can I change the type of crypto I wish to earn?
Can I change the type of crypto I wish to earn?
You can change the type of crypto you want to earn anytime and any number of times.
Do I receive my crypto rewards after every purchase?
Do I receive my crypto rewards after every purchase?
For the most parts, YES. The only situation where this is not so is when a merchant decided to preform a pre-authorization hold. For example, a gas station might hold $50 even if you charge say $30 for your gas. You will only receive your rewards once the $50 is cleared (normally within 48 to 72 hours).
Contact Information
Mail: Gemini Trust Company, LLC, 600 Third Avenue, 2nd Floor, New York, NY 10016
Phone: +1 (866) 240-5113