Coinbase One Card Review

Our Coinbase One Card review

The Coinbase One Card is an American Express credit card that pays bitcoin back on purchases. It is issued by First Electronic Bank, serviced by Cardless, and Coinbase manages the rewards program. Eligibility is limited to paid Coinbase One members.

We consider it a strong option for individuals maintaining a substantial balance on Coinbase, as the rate increases with asset levels. For others, the base rate is 2%, with the membership fee as an additional cost.

How the card works

The card provides a credit line in dollars. You can settle the bill by drawing from a verified linked bank account or using an accepted crypto balance on Coinbase. Bitcoin rewards are deposited into your Digital Asset Wallet on Coinbase, where Coinbase stores them.

Approved users receive a stainless steel card weighing 17 grams, along with a virtual card which has its own expiration date and PIN. The card is compatible with Apple Pay and Google Pay. If applicants do not qualify for the regular card, a secured version may be offered, requiring a USDC deposit on Coinbase as collateral, with a credit limit between $100 and $5,000.

Rewards

The reward rate is linked to your assets on Coinbase, referred to by Coinbase as AOC:

• 2.0% if your AOC is under $10,000
• 2.5% at $10,000 to $49,999.99
• 3.0% at $50,000 to $199,999.99
• 4.0% at $200,000 or more

The higher tiers apply to the first $10,000 of eligible purchases per calendar month, after which the rate reverts to 2%. For the initial 60 days, Coinbase uses your real-time balance, followed by the 30-day average of your end-of-day balances. Funds do not need to be staked or locked, but must remain on Coinbase to maintain your tier.

Bookings through Coinbase One Card Travel earn 5% bitcoin back on flights, hotels and car rentals instead of the tier rate. Rewards are paid in bitcoin only and usually post with the purchase, though Coinbase says it can take up to 30 days.

Purchases of cash and cash equivalents, cash advances, gambling, financial services, and the Coinbase One fee do not earn rewards.

Extras

As the card operates on the American Express network, it includes Amex benefits such as Retail Protection, Extended Warranty, Return Protection, Amex Offers, car rental loss and damage insurance, and trip cancellation and interruption coverage. Card management is handled in the Coinbase app, which has a rating of 4.68 from 1,797,818 ratings on the US App Store and 4.3 on Google Play.

Fees and APR

The card does not have an annual fee while an active Coinbase One membership is maintained, and there is no foreign transaction fee. The membership cost is the primary expense, with annual plans starting at $49.99 per year. The Basic monthly plan is not eligible. Membership must be retained for the card's lifetime.

The purchase APR ranges from 19.49% to 29.49% variable, contingent on creditworthiness. Cash advances incur a cost of $10 or 5% of the amount, whichever is greater, and ATM withdrawals are counted as cash advances. Late payments can result in a charge of up to $41.

Who can get it

The card is for US residents only, excluding US territories. You need to be 18 or older, have a valid Coinbase account and hold an eligible Coinbase One membership. Checking whether you are approved does not affect your credit score; Coinbase runs a hard credit check only if you accept the offer.

Who it is for

In our view the Coinbase One Card makes most sense for US readers who already pay for Coinbase One and keep at least $10,000 on Coinbase. Below that you earn the same 2% that many no-fee cards pay, minus the membership.

For those seeking crypto rewards without a membership, the Gemini Credit Card review outlines a no-annual-fee card with category rates, while the Fold Bitcoin Credit Card review offers a flat 1.5% in bitcoin. If your goal is solely spending your Coinbase balance without credit, consider the Coinbase Card review.

For information on the exchange itself, refer to our Coinbase review. To compare all cards, visit our crypto card comparison or consult the crypto credit cards list.