Mastercard has been in a race with Visa to create credit cards that allow users to earn and spend their cryptocurrency. The most common option related to crypto is to earn rewards instead of cashback or points like a normal rewards credit card does.
So far Mastercard has partnered with SoFi, Gemini, and Celsius to create a credit card that allows you to earn crypto currency, All of these cards are going to require good credit or better to qualify for them.
The way the card works is whenever you spend money on the card, 1-3% of the transaction is rewarded to your account in the form of cryptocurrency. The SoFi credit card allows you to choose from 20+ cryptocurrencies and earn 2% on each purchase.
IF you do not have good credit or need to build credit, the best crypto rewards card for you would be the Upgrade Bitcoin Rewards card. You can see if you pre-qualify before applying here. Mastercard doesn’t have a great option for people with bad or fair credit yet. They are investing heavily in creating cryptocurrency related products, so we hope they introduce an option similar to the Upgrade Visa Bitcoin rewards product soon.
