BlockFi Credit Card Review: Does it Live Up to Its Promise?

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BlockFi just released its own rewards credit card. To help you decide whether you should sign up for it, here is our BlockFi credit card review. You’ll know what the card provides, the pros, the cons, and our verdict.

The Whale Journal’s editorial team independently created this content. We may earn a commission from affiliate links in this article. This doesn’t affect our editors’ opinion.

What BlockFi Credit Card is About

Credit cards are one of the latest steps in the industry of crypto and alternative finance. BlockFi first announced its credit card back in 2020, making one of the first and most expected cryptocurrency earning credit cards.

The BlockFi credit card allows you to earn an unlimited 1.5% back in Bitcoin on every purchase with the BlockFi Rewards Visa Signature Credit Card. Cardholders will receive a 3.5% Bitcoin rewards rate for the first 90 days (up to $100 in Bitcoin). They can also earn unlimited 2% back in Bitcoin on every dollar spent over $50,000 annually (this resets on the card anniversary date every year). This card has no annual fee and no foreign transaction fees.

The requirements to get the card aren’t specified (except that it’s available to US residents only), as is usually the case for credit cards. However, it’s a good thing that one can apply for the card without impacting their credit score (a soft credit pull happens before you’ve accepted the credit card offer.)

The rewards are converted to Bitcoin and deposited once a month, on the second Friday of each month.

What Users Say

Let’s start this BlockFi credit card review with what actual users have to say about it. At the time of writing those lines, the BlockFi credit card just dropped out. So far, most users are happy to have received the card shortly after its release, while many others complain about their non-eligibility to get it, mostly because they are based out of the US.

In a Nutshell: Pros & Cons


  • 1.5% back in Bitcoin on all purchases
  • Partnership with Visa
  • Apply without impacting your credit score (see BlockFi terms for more details)


  • Available to US customers only (and not to New York residents at the time of writing)
  • Only Bitcoins can be earned, no other cryptocurrency

BlockFi Credit Card Review: Our Verdict

BlockFi credit card is interesting at least for BlockFi customers. However, the rewards system is not powerful enough alone to attract new users on this basis only. Potential new users should first look if the broader BlockFi platform is compelling for their crypto strategy.

Due to different reasons, this credit card might not be available to European residents for quite a while, if at all. For New York residents, it might take some time for BlockFi to work around the regulatory hurdles posed to cryptocurrency in that state.

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