Best Cryptocurrency Exchange App Card Review | The Ascent Card Review | The Ascent
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What can be improved

While there is a lot to like about the Visa Card, it also has some issues.

Most benefits require staking

To unlock the maximum value of a Visa card, you need to share a CRO. The Midnight Blue base card doesn’t have a lot of benefits. It’s best if you get at least a Ruby Steel Card, which requires a $400 commitment.

Not only do you need to participate in the cryptocurrency for 180 days, you also need to hold it in order to maintain most of the benefits of the card. This is not a big deal if you are comfortable with the CRO risk and are aware that the price will fluctuate. If you don’t want to invest in a CRO, this is not the card for you. In that case, look at credit card ratings to find a card that best fits.

No registration bonus

Many popular credit cards include sign-up rewards. These rewards offer rewards, whether in the form of cash back or points, that new cardholders can earn. There are quite a few bonuses that are worth $200 or more, and some are over $500 in value.

The Visa Card does not have this type of offer. It is worth comparing the type of bonus you can get from a credit card before using a card.

Watch top picks: Best Sign Up Reward Credit Cards

Rewards restrictions

It’s easy to miss, but the terms of this card’s rewards program exclude many types of merchants. To give some examples, you will not earn rewards on any of the following purchases:

  • Facility Services
  • Computer Programs
  • Souvenir and novelty shops
  • Personal or commercial insurance policies

See the full list: CRO . Rewards Program Limitations

It is normal for reward cards to exclude certain types of transactions, such as transferring money. But leaves out more than usual. This can be frustrating if many of your purchases don’t go through with the discount.

Transaction limits

There are limits to how much you can load, withdraw and spend on a Visa Card. The limits depend on the card class and can be found in the “Fees and Limits” section of the app.

For example, the maximum balance for a Midnight Blue card is $25,000. It also has purchase limits of up to $10,000 per day and $15,000 per month.

Cryptocurrency volatility

Cryptocurrencies are known for their volatility. This includes CRO, the cryptocurrency you need to share to get a Visa card. CRO is also a type of crypto reward that the card earns, although these rewards can easily be converted into crypto or other cash.

Let’s say you buy $4,000 CRO for a Visa card in Royal Indigo or Jade Green tier. You will be committed to installing the CRO for at least 180 days. After this time is up, it is quite possible that your investment of $4,000 is now equal to $8,000 or more. On the other hand, it could also have fallen below $1,000 in value.

Learn more: What is cryptocurrency?

prepaid card

Prepaid debit cards like Visa Card have some drawbacks compared to credit cards:

  • You cannot build your credit with a prepaid card. If you follow good credit card payment habits, it can raise your credit score.
  • You need to load money onto your prepaid card whenever you want to use it. With a credit card, you can make purchases with credit (up to the card’s credit limit) and pay them back later.

Learn more: How do credit cards work?

To be fair, prepaid cards have their advantages as well. You cannot enter into any debt or damage your credit balance with a prepaid card. But a credit card is much more convenient, since you can use it without having to load money first.

Replacement and Upgrade Fee charges the following fees:

  • $7 to replace a lost or stolen card
  • $50 for a new card if you upgrade

You can avoid the $50 card upgrade fee by keeping your old card. You’ll enjoy the new benefits of a higher card tier, with one exception. If you upgrade to a tier with airport lounge access, you must get the new card for this benefit.

Prepaid cards often charge these types of fees, so this is another area where credit cards have an advantage. Most credit card issuers will charge you a new card for free if your card is lost, stolen, or upgraded.

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publisher team