The Crypto.com Visa debit card has maintained a constant reward program since its launch in 2018. However, a modification was announced on May 1, 2022, on the new model of reward programs for debit cards. The Crypto.com debit card has undoubtedly been the most popular crypto-linked card program supported in 40 countries.
As per the news received, the modification was to ensure the program’s long-term sustainability. This decision will undoubtedly draw many adverse reactions from many users. Three significant changes were made to the reward and cashback program; reduction of CRO card rewards, introducing restrictions to monthly cashback and phasing out Card CRO staking rewards.
Reduction of CRO Card Rewards
There are modifications to active stake and no stake CRO rewards for all card tiers. For instance, users with the ruby steel debit card will now receive no bonus (0%) on no CRO stake and 0.5% on active CRO stake.
For users with active 180-day stakes, the modification won’t apply until the 180-day countdown is complete; they will enjoy the previous rate. If you have an active stake for the ruby steel, you will continue to receive a 2% reward on CRO staked till the 6 months are complete.
| Card Tier | Revised CRO Rewards (No Stake) | Revised CRO Card Rewards (Active Stake) |
|---|---|---|
| Midnight Blue | 0% | 0% |
| Ruby Steel | 0% | 0.5% |
| Royal Indigo/Jade Green | 0.5% | 1.5% |
| Icy White/Frosted Rose Gold | 1% | 3% |
| Obsidian | 2% | 5% |
Introduction of Restriction to Monthly Cashback
There is a new monthly cashback restriction to ruby steel and Royal Indigo/Jade Green. The midnight blue doesn’t receive any cashback reward, so there are no changes. However, users will only receive an accumulated cashback reward of $25 monthly for the ruby steel. For Royal Indigo/Jade green debit cards, users can only receive an earned cashback reward of $50. If you own ruby steel, once you reach a monthly reward accumulation of $25, you stop receiving rewards till the next month.
The former reward program stands for the Icy white/Frosted Rose Gold and Obsidian card owners; there is no card reward cap.
Phasing Out Card CRO Staking Rewards
Cardholders of Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian will no longer be eligible for CRO staking incentives. CRO staking benefits will continue to be paid out to cardholders who have an active 6-month stake and staked before May 1, 2022, until their 180-day staking term.
Other Card benefits will remain unchanged. Spotify, Netflix, and Amazon Prime will all continue to be fully refunded. This won’t count toward your monthly CRO cap. Unlimited airport lounge access will continue to be available to Jade Green, Royal Indigo, and other premium cards.
According to the report from crypto.com; it read “It was a tough choice to make these changes to the card program. For example, we’re working with Dosh, a U.S. cashback rewards program, to find innovative ways to provide our cardholders even more value and perks.” Most users will look forward to how these modifications help push the community further ahead.