Coinbase card review - 1 Month Out

Hey, all, hope everyone is doing well, just thought I’d do a quick write up with my experiences with the coinbase card over the last month (my first purchase with the card was on 9/22).

How I use my card:

• I essentially use it as a preload debit card—when I know I’m going to make a purchase I buy some USD coin on coinbase. This has worked out more than fine except in one scenario (see below), as the transaction is instantaneous and the funds seem to be useable instantly.

• I get my rewards back as XLM (4%)

• I have started paying all of my bills that it makes sense to pay with a card with my coinbase card for 4% back.

• Most utilities have a “convenience fee” to pay with a card. For example, let’s say my electricity bill is around $100 (or $4 back) but has a $1.75 convenience fee to use the card; in this instance, I still use my card and take the convenience fee hit because I make more back in XLM. In most other scenarios, however, the convenience fee and XLM are about even, or a net loss, so I am unable to use my card on those bills.

• I have a mortgage, and I can’t pay my mortgage with a card. I know of other individuals with rent that are able to pay with their debit card and get a big XLM reward every month because of it!

• I am also unable to pay my car payment with my card (my second largest payment) so that is unfortunate as well.

Because of the way I utilize my card it has been denied twice: both at gas stations. I’ve read that gas stations sometimes “check” (somehow) if you have $100 funds available on the card you pay with; both times my card was denied I was holding less than $100 USD coin. In both instances I added funds to get above that $100 threshold. At one gas station I was then able to use the pay at the pump, while at the other I was still declined. In neither scenario did I try to walk in and prepay.

Moreover, I also refunded a game on Steam after buying it with my Coinbase card. No problems arose; after a few days the refund amount was deposited as USD (not USD coin) on my coinbase less the XLM reward amount. I then converted the USD to USD coin with 0 fees to be able to use again.

In all, the Coinbase card has totally replaced all other cards in my wallet as my card of choice! I’ll probably just buy some USD to hold to make sure I don’t run into the gas station problem again in the future.

10/10 recommend!

If you have any questions just ask