The Gemini Credit Card Review

Our The Gemini Credit Card review

The Gemini Credit Card is a Mastercard that rewards users with cryptocurrency instead of cash. Issued by WebBank, a Utah state-chartered bank, the card features a rewards program managed by Gemini. It offers no annual fee, no foreign transaction fee, and crypto rewards on eligible purchases.

We see it as a straightforward option for accumulating bitcoin from regular purchases in the US, provided you pay your balance in full. However, the highest reward rate applies only to a specific category with a limited monthly spend, and carrying a balance incurs a high APR.

How the card works

This card operates like a standard credit line: spend now and repay later in dollars. According to Gemini's help center, you cannot pay this card with bitcoin or any other cryptocurrency, nor from your Gemini deposit account. The rewards are purchased for you and held in your Gemini Exchange account, not in your personal wallet.

An active Gemini Exchange account is necessary to obtain the card. Closing this account results in the closure of the card account, as participation in the rewards program ceases. Successful applicants receive a metal card available in black, silver, or rose gold, without a printed number, and a digital card in the Gemini app. The card is compatible with Apple Pay, Google Pay, and Samsung Pay.

Rewards

Gemini offers rewards based on merchant category:

• 4% back on gas, EV charging, transit, taxis, and rideshare, up to $300 spent per month, then 1%
• 3% back on dining
• 2% back on groceries, excluding Costco, Sam's Club, Walmart, candy stores, and bakeries
• 1% back on all other purchases

The 4% rate applies to a limited part of an average budget. If your spending falls outside these categories, your effective reward rate will likely be around 1%. Vault Rewards provide promotional rates at selected merchants, reaching up to 10% unless Gemini states otherwise.

You earn bitcoin by default, or one of 50+ cryptos available on Gemini, and you can change the coin as often as you like. Most rewards arrive within minutes of a purchase. Online merchants, hotels, gas stations and car rentals post rewards after the transaction clears. A return triggers a Rewards Adjustment, and if it is not netted out within 30 days, Gemini charges the amount to your card.

There are no staking, holding, or subscription requirements for these rates. This distinguishes it from cards that require locked tokens or a paid membership for top rates.

Fees and APR

The card has an annual fee of $0 and no foreign transaction fee. The purchase APR ranges from 16.74 to 34.74% variable, depending on creditworthiness, meaning maintaining a balance can be costlier than the rewards received. A cash advance incurs a fee of $10 or 3% of the amount, whichever is higher. Late payments can cost up to $25, or up to $35 if a late payment occurred in the previous six billing cycles.

Certain transactions are non-rewardable: gift cards, prepaid cards, cash equivalents, lottery tickets, and cryptocurrency purchases. Also, the card cannot be used to buy cryptocurrency.

Who can get it

This card is available to US residents only. Gemini indicates that residents of all US states are eligible to apply, and the card is not offered outside the US. Pre-qualification involves a soft credit pull, which does not impact your credit score, followed by a hard inquiry upon full application.

Who it is for

In our view the Gemini Credit Card suits US readers who want a no-fee credit card that turns spending into bitcoin, already use Gemini or are fine opening an account there, and pay their bill in full each month. Commuters and drivers get the most out of the 4% category.

The card may not be suitable for those who carry a balance, prefer rewards in their own wallet, or desire a high flat rate on all purchases. If you have substantial holdings on Coinbase, the Coinbase One Card review provides details on how rates increase with balance. The Fold Bitcoin Credit Card review describes a card offering a flat 1.5% in bitcoin on all purchases without an annual fee. The Crypto.com Visa Signature Credit Card review highlights a card where top rates depend on staked CRO.

For more information about the exchange behind the card, refer to our Gemini review. To compare cards side by side, visit our crypto card comparison or the list of the best crypto credit cards.