Anyone using the Fold debit card on the Plus plan?
What are your thoughts on it?
Worth the $100 per year?
Why or why not?
#asknostr
Discussion
Worth if it you use it. The credit card bill payment hack is the best feature.
That’s from using the fold debit card, correct? I think I may be confused because there is a waiting list for the food credit card, correct?
Yes, this is using the debit card to pay off AmEx bills for example.
Cool that’s what I thought. Are you a current user? How are rewards paid out?
On-chain, LOL. You just request them when you have enough rewards in your account. 
I can never figure out if they want me to use the fold bank routing number or the fold card number so I can get my sats back %
They’ve told me it only works one way. And they’ve told me to do it both ways. And I can only get the sats back to work like 30% of the time
That’s confusing af
The rewards are definitely less than they were 2+ years ago, but if you can stack ~100$ worth of sats (100k or so) it’s worth it in my opinion.
If you utilize their gift cards you can easily get there. Just stacked 45,000 for an Airbnb trip
Used it for 1 year. Ended up being about the same as the 1.5% cash back I get through a regular credit card. I just buy corn with my normal cash back every month.
Fold is fun and entertaining. At the beginning they we're giving 3-4% cash back for about a year. Obviously had to come back down to market rates on credit card cash back. The one benefit is there are (were?) ways to pay rent or mortgage through Fold which was a big advantage.
How are then the rewards paid out? From what I see, there a 30k sats threshold for withdraw, but are you able to withdraw by lightning?
Yes, you are. I got my 40k sats withdrawn to my lightning wallet in April. Took me 2+ years to earn. But I spent two months out of that time, using Fold+ ($10/mo), the rest of my time for that was using the free plan. I'm not good at math, so do what you will with that info I guess, lol.
When I used it it was 100k sats minimum to withdraw on chain only. I would be surprised if they have not lowered that and added lighting support.
Forgot to add the gift card part that others have mentioned. That's a big perk if you have big reoccurring expenses on Amazon etc.
For normal monthly expenses (spending 1k-1.5k a month) it's probably better to just use normal cash back cc and buy sats with that.
Hmm, that’s right around where I’m at per month
I like supporting bitcoin companies. I think of every Sat back as a dollar in 10 years time. Im really keen to get the credit card when it comes out so i can get closer to automating all my payments.
How is it not better to just maximize rewards of Amex, Chase etc and dump them into bitcoin? Can get 3-6% on all major spending categories
I used their debit card years ago when the rewards were great and on everything I was buying. But honestly, I don’t like debit cards- having to load up with money to let it sit there and earn nothing. I’d rather have it at river getting 3.8% in BTC. I’m more likely to use the fold credit card- but it really needs to be competitive with other rewards cards. I’m better off upping my DCA and using a different card.
With other higher Bitcoin reward cards out there, unless you’re purchasing significant amounts of Bitcoin it’s likely not worth it.
The Gemini card does 4% on Gas/EV and 3% on dining.
Venmo card does 3% in top spending category which I use for groceries and 2% in second highest which I use for utilities.
Fold doesn’t offer anything that can beat that.