PointCard Review
Update (Jun. 16, 2022) – Emails have been sent out announcing that the card will no longer have a fee. “Effective June 8, 2022, the billing of membership fees for your account has been paused. This means you do not have to pay membership fees for now and don’t worry, the fees won’t accrue. In the event of any further changes, you will be notified at least 30 days in advance before we resume billing on your account.” No annual fee is good news. But this could mean that the card will be discontinued, as it’s no longer available on their website.
PointCard , or as it’s commonly known the Point Debit Card, is a card that comes with a $99 annual fee and great earning rates. The annual fee seems high at first for a debit card, but with frequent bonuses and 5X or more sometimes at popular merchants like Amazon, Target and others, it makes sense. It also comes with an easy to use app that gives you a bank account with no fees, and helps you keep track of your spending, create virtual card numbers and more. There are also four different color designs to choose from. Let’s get into this PointCard Neon review.
Point App
Before we get into the the details of the card, lets first talk about the app which you will need to apply for a new account. Point is an app that gives you a bank account and a debit card. Now there’s also the PointCard Titan charge card. The Point app is simple and easy to use. There’s no hard pull to open a new account and you don’t need good credit to qualify.
Visit point.app/download on your phone or use your camera to scan the QR code below:
After downloading the app, you can create your account using some basic information about yourself. You then connect your Point account with another bank account using Plaid. That let’s you complete instant transfers that let you quickly fun your account when needed. It also offers the option of ACH transfers.
Behind the scenes, Point is backed by Column National Association for the banking infrastructure, so it is FDIC-insured. Point had an annual fee of $49 per year until recently. Now the annual fee has been increased to $99.
PointCard Neon
PointCard Neon is the debit card that is connected to your account and lets you earn rewards and other bonuses. You can earn up to 5x points on things you’re already buying such as:
- 5x points on subscriptions like Netflix, Spotify, HBO Max and more.
- 3x points on food delivery and rideshare apps like DoorDash and Uber.
- 1x points on everything else.
Currently the cash back rates are doubled through the end of the year. But the Point Debit Card also has other limited time promotions such as this streak bonus, or Access Offers, which give you increased rates at select merchants such as Amazon, Costco, Whole Foods and more.
Each point is equal to one cent. You can easily redeem points for cash into your Point account. Points never expire and there’s no limit to how much you can earn.
Virtual Card
Besides the physical card, you’ll also get immediate access to a virtual card number upon approval. This means that you can start earning points right away. Your Point virtual card is perfect for online purchases and is compatible with Apple Pay and Google Pay. Earning rates are the same whether you use your physical or virtual card.
Other Benefits
- Cell Phone Protection – $1,000 cell phone insurance reimbursement per year if your phone is lost or damaged when you pay your bill with your PointCard.
- Extended Warranty – Doubles an item’s manufacturing warranty for up to an additional year — offering extra protection for purchases you make with Point Card.
- Rideshare Protection – Protects you and your property from unexpected damage at the hands of rideshare services.
- Event Ticket Protection – Concert cancelled? You’re covered with Point Card, whether the vendor reimburses you or not.
- Travel Accident Insurance – Additional peace of mind for trips near and far.
- Two free ATM withdrawals each month (with a maximum $8 transaction fee)
- No foreign transaction fees on PointCard purchases outside the U.S.
Signup Bonus
Apply now to get a $100 bonus which takes care of the annual fee. Open the link with a mobile device, so you can download the app and the bonus is applied automatically.
PointCard Review: Guru’s Wrap-up
The Point Debit Card which is now known as PointCard, is a debit card with perks and benefits that you would normally expect from a credit card. You can earn up 5x points on streaming subscriptions, 3x on rideshare apps and food delivery apps and 1x everywhere else. You also get travel insurance and some other protections. PointCard also comes with zero fraud liability, unlimited instant transfers and your balances are FDIC insured.
The downside is that the card also has a $99 annual fee. I have the card in my wallet, but I applied when that fee was at $49. I have definitely earned over $200 so far from those streak bonuses I mentioned above. So the card should make sense even at $99 per year. Plus you get increased rates from time to time at popular merchants such as Amazon, Best Buy, and more.
Also check out my review for the new PointCard Titan, which comes out in 2022.
