Rewards:
This card pays its rewards in Bitcoin. There are no other choices for rewards in other cryptocurrencies. The cashback rewards are tiered, dependent on how much in assets you hold on Coinbase. If you hold enough to earn at least 2.5% back, this is a solid rewards card for credit card spending.
2.0% up to $10k of assets on Coinbase
2.5% between $10k and $50k of assets on Coinbase
3.0% between $50k and $200k of assets on Coinbase
4.0% for assets over $200k or more
The 2.5%, 3% and 4% reward rates apply to the first $10,000 in eligible purchases each calendar month. After that, you’ll earn up to 2% on additional eligible purchases for the rest of the calendar month. Reward rate limits reset at the start of each calendar month.
Offer: There is no introductory offer currently which is really poor as almost every credit card these days has some sort of introductory offer. This is also an American Express which is less accepted amongst merchants compared to Visa or Mastercard. This card has decent Cash Back (in the form of Bitcoin) especially if you already have holdings on Coinbase, then this card can be a lucrative daily use card, and can offer some other benefits if you use Coinbase regularly as your centralized exchange. The cash back is fairly decent, especially if you are able to get to one of the higher tiers. Keep in mind you do need to have a Coinbase One basic membership at the minimum.
Bitcoin back rates are tiered at 2%, 2.5%, 3%, and 4%, based on your Assets on Coinbase (AOC) at the time an Eligible Purchase is initiated. Bitcoin back at the 2.5%, 3%, and 4% rewards tiers are capped at a combined $10,000 in Eligible Purchases per calendar month (then 2% thereafter for such calendar month). For the first 60 days after your Coinbase One Card account opening, AOC is based on your real-time balance at the time of your Eligible Purchase. After that, AOC is calculated as the average of your daily end-of-day balance over the past 30 days.
Annual Fee: None for this credit card with your active Coinbase One membership. You are required to have at least a Coinbase One basic membership with this card, so although there is no traditional annual fee, this membership does serve as a soft annual fee at $49.99/year.
Coinbase One is $4.99 month or $49.99/year in one payment. The main benefit of Coinbase One is zero trading fees on $500/month in trades, but this an incredibly low amount and does not have too much value.
There are Preferred and Premium tiers which increase the amount in zero trading fees per month (10k and unlimited). There is also $10K and $250k coverage for unauthorized sends, though it’s not clear what this entails. All Coinbase accounts require 2FA (Two-Factor Authentication) when sending in an account anyways, so it does offer some protection, but rather seems unlikely to occur for most individuals, unless someone that has access to your account and phone (or whatever device is used for 2FA) and sends money elsewhere. Preferred and Premium also boast priority and concierge support, which may be useful but I have not used it and cannot attest to the level of service. Normal support for Coinbase is abysmal, their automated “AI” chat is generally considered useless and from my experience if you do have any sort of issue, it is extremely difficult to contact anyone at Coinbase to get it resolved.
No foreign transaction fees
Coinbase One benefits include:
$0 Zero trading fees — on first $500/mo in trades, a spread applies (basic membership)
3.50% Unlimited USDC rewards on all your USDC
$120 Transaction credits on Base — $10/mo in sponsored smart wallet gas on Base
Your chance to win up to $100K in Bitcoin every month.
Earn an entry for every $100 spent with the Coinbase One Card or traded on Coinbase.
Earn entries into the Bitcoin Drops $100,000 sweepstakes for every $100 you spend on eligible transactions with your Coinbase One Card and every $100 you trade on Coinbase. Max 25 entries.
Coinbase is not FDIC insured, so although the 3.5% APY on USDC is not bad and similar to what you might see in a High-Yield Saving’s account, be aware of the distinction between the products.
Overall, the cashback is nice if you can hit higher tiers, and there are some perks if you are an active Coinbase user, but there isn’t anything exceptional about this card, especially with no introductory offer. I still think the Gemini card is a better option if you’re looking for Crypto cashback for something other than Bitcoin like Ethereum or SOL.
If you do apply for this card, keep in mind there will be a hard pull on your credit, and to ensure your credit reports with the three agencies (Equifax, Experian, Transunion) is not frozen.
If you are considering opening a Coinbase account, consider using our referral link. You will receive $30 in BTC after your first trade of $20 or more.