The Gemini Credit Card will likely appeal to the cryptocurrency-curious who want a convenient way to explore the new(ish) financial frontier of meme coins and digital wealth.
This no-annual-fee card allows you to earn credit card rewards in the form of 50+ different cryptocurrencies. Because the value of any cryptocurrency depends on market conditions, this means your rewards will experience the same volatility unless you choose one of the stablecoins as a reward— if that thought gives you pause, then you should consider a card that earns more traditional rewards.
CNBC Select breaks down the Gemini Credit Card to see if it makes sense as the next addition to your wallet.
The Gemini Credit Card® can help cryptocurrency enthusiasts earn credit card rewards via several helpful everyday spending categories.
- Many transactions will have rewards instantly deposited into your Gemini Account
- Earn rewards in over 50 different types of cryptocurrencies available on Gemini
- No annual fee
- No foreign transaction fees
- Selling or converting your earned rewards may incur fees
- The 4% back on gas and EV charging is capped each month
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- No annual fee and no foreign transaction fees. See Rates & Fees to learn more.
- Get 4% back on gas, EV charging, transit, taxis & rideshares on up to $300 in spend per month. 1% thereafter. Spend cycle refreshes on the 1st of the calendar month.
- 3% back on dining, 2% back on groceries, 1% back on all other purchases.
- Your rewards are automatically deposited into your account immediately. In some rare cases, rewards are deposited when the transaction posts. Subject to Rewards Program Terms.
- You can earn rewards in bitcoin, ethereum or 50+ other cryptos currently available on Gemini.
- Beautifully designed stainless steel card that comes in six premium colors, made from 75% recycled material.
- Make a purchase with your Gemini Credit Card anywhere in the world where Mastercard is accepted.
- Maximize your crypto rewards by adding family, friends or a special someone to your primary account.
- Gemini-branded credit products are issued by WebBank and offer various benefits from Mastercard.
Welcome bonus
None
Benefits and perks
The Gemini Credit Card doesn't offer many benefits unique to the card — its main draw is the cryptocurrency rewards you can earn. As a World Mastercard, it does come with a handful of perks through the network, including credits for Instacart and Peacock Premium. Some other notable perks include:
- HealthLock for Mastercard: Complimentary HealthLock Monitor membership that helps review your medical claims.
- Mastercard ID Theft Protection: This service provides detection and protection against identity theft, including monitoring, alerts and expert resolution.
- Price protection: For purchases made with the covered card, this feature reimburses you if an item purchased with the card is advertised at a lower price within a specified period after purchase.
You get 24/7 live customer support and the ability to add up to five authorized users for no extra charge. For increased security, the card only features the cardholder's name and not the card number. And if looks matter, this metal credit card is available in three different colors: black, silver, rose gold, or bitcoin orange stainless-steel, made from 75% recycled material
How to earn and redeem Gemini card rewards
With the Gemini Credit Card, you can earn rewards with purchases in a variety of convenient spending categories, making it reasonably easy for you to make the most of the card.
Earning
Gemini Credit Card cardholders don't earn traditional cash back, points or miles, but instead, receive rewards in the form of one of its available cryptocurrencies. Gemini offers rewards on the following transactions:
- 4% back on gas and EV charging on up to $300 in spending a month, then 1%. Spend cycle refreshes on the 1st of the calendar month.
- 3% back on dining
- 2% back on groceries
- 1% back on all other qualifying purchases
Gemini supports over 50+ types of available cryptocurrencies, including popular ones like Bitcoin and Ethereum, and you can change which cryptocurrency is earned by your spending at any time. When signing up for the card, you set up a Gemini Exchange account, which holds the cryptocurrency you earn. Gemini pays out rewards to your account as soon as you make a purchase.
Redeeming
Once you earn rewards via your Gemini Credit Card, they will be held in your Gemini Exchange account. To redeem your rewards, you can sell the crypto in your Gemini Exchange account and transfer the funds to a verified bank account. Unlike the rewards earned with many other cards, the Gemini card's rewards can't be used to directly pay the card's balance.
Rates and fees
The Gemini Credit Card does not charge an annual fee, a foreign exchange fee or any exchange fees from the cryptocurrency rewards you earn through spending. However, you'll have to pay any fees associated with selling or converting your crypto rewards. The Gemini card has an APR of 18.49% - 34.49% variable and charges a late payment fee of up to $8 and a returned payment fee of up to $35. See Rates & Fees for additional details.
Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.
Card comparison
Gemini credit card vs. Venmo credit card
Venmo Credit Card
Rewards
3% cash back on the eligible category in which you spend the most, 2% back on the second-highest eligible category and 1% back on all other purchases
Welcome bonus
None
Annual fee
$0, see terms
Intro APR
N/A
Regular APR
19.99%, 28.99%, 31.99% variable as of October 1, 2024
Balance transfer fee
N/A
Foreign transaction fee
None
Credit needed
N/A
Terms apply.
Pros
- No annual fee
- Rewards program that adapts to your spending habits
- No foreign transaction fees when traveling outside the U.S.
Cons
- Currently available to a random percentage of Venmo customers who’ve had a Venmo account for at least 30 days and who’ve been active in the last 12 months
- No welcome bonus
- No introductory APR offer
The Venmo Credit Card is another no-annual-fee credit card that can help you turn your rewards into cryptocurrency, but it doesn't have any fixed spending categories for earning rewards. Instead, you'll earn 3% cash back on your top spending category for the billing cycle, 2% on your next top category, and 1% on all other eligible purchases. Venmo offers the following spending categories:
- Transportation
- Travel
- Groceries
- Entertainment
- Dining & Nightlife
- Bills & Utilities
- Health & Beauty
- Gas
- Other
Venmo can add the cash back you earned to your Venmo balance, but if you want to earn your rewards in cryptocurrency, you can toggle a setting within the Venmo app. At the end of your next reward cycle, the cash rewards will be transferred to your Venmo account and automatically used to buy the cryptocurrency of your choosing. Venmo supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The Gemini card offers a much wider selection of currencies.
If you want a card that can earn both cash-back rewards and rewards in cryptocurrency, the Venmo card has an edge over the Gemini, which locks all of your rewards in crypto. However, the limited currency offerings from the Venmo card make it less ideal for someone who wants a more robust crypto experience.
Gemini credit card vs. Citi Double Cash Card
What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- Earns transferable rewards
- No annual fee
- It has a foreign transaction fee
- Intro APR only applies to balance transfer
- Points transfer ratios are reduced compared to premium cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.24% - 28.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
If you've decided the volatile nature of cryptocurrency isn't for you, and you want a card that earns straightforward rewards, then consider the Citi Double Cash® Card.
This card has built a reputation as one of the best cash-back cards and for good reason — it offers 2% cash back on all purchases, 1% when you buy and 1% when you pay your card, plus 5% total cash back on hotel, car rentals and attractions booked with Citi Travel. There's no cap or category restrictions on the rewards you earn, which come in the form of Citi ThankYou® Points. These highly flexible points can be redeemed in several different ways, including with Citi's hotel and airline transfer partners if paired with an annual fee card, like the Citi Strata Premier® Card (See rates and fees).
Is the Gemini credit card right for you?
The Gemini Credit Card could be a good option for those interested in exploring cryptocurrency as it offers competitive cash-back rates used to purchase over 50 different types of cryptocurrencies with no exchange fees to receive your rewards thoug, there are fees for selling your crypto. You have to make peace with the fact that your rewards could lose value based on the whims of the market, but those are the table stakes for any type of investment — crypto or otherwise.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.
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