Gemini Mastercard® from WebBank Review

Gemini Mastercard® Credit Card Review

In this review, we will examine the Gemini MasterCard® with very attractive crypto bonuses, and give you detailed answers to the most concerning questions.

The Gemini crypto rewards credit card was released in May 2022. That is a new innovative credit card that provides instant cash back for its customers in more than 60 cryptocurrencies. The Gemini MasterCard® is ideal for those who interact with cryptocurrencies and can’t wait for a month to receive the cash back. The unique Gemini mobile platform allows you to control and use diverse credit card options with just a wave of your hand.

Gemini Mastercard®: pros and cons

Gemini Mastercard®: rewards system in a nutshell

The standard rewards rate of Gemini MasterCard® is 1% on all purchases. It is a common rate among traditional credit cards. But spending on dining and groceries will get you higher rewards. Get a 3% cash back up to $6,000 annual spend on dining (1% afterward), and 2% on grocery purchases without any limits.

Gemini MasterCard® is a card with crypto bonuses. You can receive bonuses in more than 60 cryptocurrencies including bitcoin. Even more exciting is that rewards are deposited instantly when the transaction occurs. You don’t need to wait for the next month to get your rewards. It is the only credit card that doesn’t make you wait at all.

Choose the cryptocurrency that is the most attractive for you in the Gemini mobile application and receive the rewards without any exchange fees. It means that the crypto cash back that you receive on your Gemini exchange account will be calculated in U.S. dollars and converted to the coin of your choice based on the market price at the moment when the reward is disbursed, without any typical fees you have to pay on a crypto exchange.

Unlike other cash back credit cards, you won’t have to make any extra actions to get your rewards. Right after you make a purchase and pay with your credit card - the rewards will be transferred to your digital assets account. You can convert your crypto rewards in one click as any other digital currency in the Gemini mobile app.

We think that a rewards system is great for those who prefer keeping some money in bitcoin or other cryptocurrencies. You may buy, sell, transfer, and store crypto using Gemini mobile app. For those who prefer getting rewards in U.S. dollars, for example, the Gemini Credit Card® is also an option to consider - you can still exchange your crypto rewards to U.S. dollars on the Gemini exchange. But there is one thing we have to mention: the Gemini platform will take a fee if you want to exchange crypto to USD.

Who can benefit from getting the Gemini MasterCard® Credit Card?

Novice crypto traders or investors should consider applying for the Gemini Credit Card®. Gemini MasterCard® is not just a credit card with bitcoin rewards. Gemini is also a self-sufficient cryptocurrency market on your mobile phone where you can sell, buy, and transfer crypto. That is why the Gemini Credit Card® is a good way to start working with crypto without risking too much.

Gemini MasterCard® is also an interesting option for those who don’t want to wait for cash back for a month or even longer. Gemini's instant crypto cash back can be handy for you. You may convert rewards to U.S. dollars as soon as you have them on your Gemini account. But remember about a drawback in the form of a fee that you will have to pay to convert your crypto into USD. The absence of foreign transaction fees also makes the card a very nice option for travelers.

NFT collectors may find a limited NFT that was made by a famous artist as a very beneficial investment. But remember, to collect it - you have to spend $1,500 during your first month after the Gemini Credit Card® activation. With a lovely instant cash back addition, you can get up to $45 cash back and great crypto trading opportunities on the Gemini platform.

To have high approval odds, you should have a good to excellent credit score. However, if you are not sure whether the application is going to be approved - you can see if you are pre-qualified on the Gemini Credit Card® website without any impact on your credit score. However, pre-approval doesn’t mean that you will be unconditionally approved. There is always a chance of being declined.

Are there any other benefits?

We have already mentioned some of the benefits that Gemini MasterCard® has (like instant cash back) but there is a lot more to say. The list below will complement the above-mentioned advantages of the Gemini Credit Card®:

• Protected crypto rewards. Thanks to the highly protected crypto infrastructure on the Gemini Platform, customers can be sure of the safety of their crypto rewards or earnings. Learn more about Gemini Security Controls.
• Security design. Gemini has come up with an innovative credit card design. There is no personal information about the holder including the name or the card number. Everything is located in your Gemini mobile application.
• 24/7 customer support. Gemini support service is available 7 days a week, 24 hours a day. You can contact it anytime using the mobile application, official website, or just by calling.
• Exclusive Gemini offers. DoorDash, HelloFresh, Lyft, and ShopRunner are on the list of companies that have special offers for Gemini Credit Card® holders.
• Real-time alerts. Get notifications about the transactions you have made in real-time.
• Purchases availability right after the application approval. Right after the confirmation of your application - you will get a digital credit card on your mobile device. You can start using it straight away without waiting for the physical credit card for 5 - 7 days.

Conclusion

To sum up, we think that Gemini MasterCard® doesn’t have many competitors on the market in terms of instant crypto rewards that you may get right after the purchase. Novice crypto traders and investors are the main categories of customers that should think of applying for the Gemini MasterCard®. You will be able to use the Gemini platform to trade and manage crypto straight from your mobile phone. Instant crypto bonuses and a sign-up bonus of a limited NFT are also nice additions. If you travel internationally - you would also be pleased with no foreign transaction fees.

We would say that most of the potential customers that are interested in investing in crypto with a good to excellent (670 - 799) credit score should think about Gemini Credit Card® as one of their financial instruments. A carefully designed mobile application will help not only to make transactions with a digital card right after the approval of your application but also to manage your finances (including crypto wallets) with great ease.

However, if you are not into crypto - there are much better choices in the market among rewards credit cards concerning a 0% intro APR period and the size of rewards. We would recommend you take a closer look at American Express® Blue Cash Preferred®. Even though the variable purchase APR of 19.24% - 29.99% is slightly higher, you can get more benefits from its 0% introductory APR period. You will also be able to get bigger rewards like a 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases) and on streaming, 3% on transit and at gas stations, and 1% on all other purchases. You can redeem these rewards in the form of U.S. dollars as a statement credit. But you will not be able to do it instantly - the minimum redemption amount is $25.