How many of you use the Fold card? And if so is it worth getting one? #asknostr
Discussion
Worth it if you will spend $1K per month. $9.99/mo fee, with 1% back in Bitcoin. So $1K (or less if you buy gift cards) will have you at break even
(Lol, if you buy $150/mo of DoorDash gift card you’ve broken even as well).
You can also use it to pay a credit card bill and “double dip” (points on the cc, Bitcoin on fold).
I’ve stacked many extra sats using fold. Their rewards aren’t as good as they used to be - but still worth it IMO
I didn’t think about using it to pay my cc! Thanks for the input, using it for that alone would help me break even
Definitely. It can take some effort (simplest is to use the PayPal Bill Pay feature and link the fold card, and make the payments from within PayPall), and there are some credit card companies who reject it. But for the most part it works just fine!
This can help:
I don’t really use PayPal but I’ll definitely look at that option now
I used it for a while and stacked slightly more than if I had just bought the sats at market rate.
But the math (at that point) was unless you were channelling $800 or more through the card each month it wasn't worth the fees and you would end up with net fewer sats.
And then they started diluting the spin wheel to make it financially viable for them to support, so I imagine that number is higher now.
You would have to do some napkin math to figure out if it's worth it for your particular circumstances.
Depends… I have the free card and if you don’t mind the transfer fee… at least you get sats that are deflationary unlike the inflationary money you are using for the fees
is it worth it? yes. is it a pain in the ass and will you hate using it because Fold keeps changing the reward system? also yes.
😂 those are the answers I’m looking for! It seems like quite a bit a work to use it, especially to pay my bills and cc with, but I’m looking into it