Digital age financial service firm BlockFi just announced updates to their BlockFi Rewards Visa® Signature Credit Card loyalty rewards programme. The new rewards programme features increased Bitcoin-based spending rewards, and no annual fee.
US crypto and fiat based financial services corporation, BlockFi announced on the 25th of May, that there will be changes to the benefits programme attached to its BlockFi Rewards Visa® Signature Credit Card. The card which pays 1.5% back, on every spend, in Bitcoin will be extending its spending benefits regime, and will – from now on – eliminate the annual fees in the card.
BlockFi’s loyalty programme now awards cardholders 3.5% of the purchase value in Bitcoin for the first 90 days, in addition to offering no fees on foreign transactions. The fintech firm has, for its BlockFi Rewards Visa® Signature Credit Card, also introduced an entirely new rewards tier, which will give cardholders 2% back in Bitcoin, on every dollar over the $50,000 annual threshold.
“Our new credit card is going to be a major disruptor in the crypto industry, making it easier and more convenient than ever before for anyone to earn Bitcoin while engaging in day-to-day transactions,” said Zac Prince, founder and CEO of BlockFi. “And thanks to our partnership with Visa®, clients will enjoy the advantages of a product that can be used around the globe.”
Other benefits that will be available to cardholders – going forward – will be a stablecoin bonus, proportional to the stablecoin value held in a cardholder’s BlockFi Interest Account. A 2% APY can be expected, which to the existing stablecoin APY.
Holders of the new BlockFi credit card will also enjoy a Bitcoin based reward valued at 0.25% of their trading volume, in addition to earning rewards for referring new customers to the service.