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Fold Visa® Prepaid Card: BTC Rewards with No Credit Check

Cory Santos

| Last updated on January 26th, 2024

Fold Visa® Prepaid Card

Fold Visa® Prepaid Card
No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: No Credit Required
Visa Processing Network
Up to $150 Annual Fee

Fold Visa® Prepaid Card

At a Glance

Cryptocurrencies offer significant growth for investors, and the Fold Visa Prepaid Debit Card is an intriguing way to earn rewards in BTC for your everyday purchases. The card offers all the benefits of the Fold mobile app with the payment network of Visa, making it easy to earn Bitcoin online or in-store.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Get access to Fold+ member pricing on Amazon gift cards
  • Each purchase activates a spin on the Spin Wheel Sweepstakes
  • Enjoy boosted merchant offers
  • Get up to 100% back in rewards after your purchases
  • Annual Fee: Up to $150
  • Foreign Transaction Fee: See Terms
  • Over Limit Penalty Fee: See Terms
  • Minimum Deposit Required: See Terms
  • You don’t want an inquiry on your credit score or distrust credit cards
  • You prefer to earn rewards in Bitcoin versus Ethereum, Litecoin, or other cryptocurrencies
  • You're vigilant to ensure your use your wheel spins and don’t let them expire

In-Depth Fold Visa® Prepaid Card Review

The Fold Visa Prepaid Debit Card is a crypto rewards card that allows users to earn Bitcoin with every purchase.

What is Fold?

Exclusive Fold-branded Visa cards that offer a variety of perks
Earn free Satoshi’s by spinning the Fold wheel Gift cards that provide significant cashback in Bitcoin
Gamified interface that gives users a chance to win 1 whole Bitcoin or 100% cashback on purchases Earn free Satoshi’s by spinning the Fold wheel

How to Get Fold

Getting the Fold Visa is a straightforward process:

  1. Sign up for a Fold account: Signing up for Fold requires providing the usual personal information, like your name, date of birth, and contact details.
  2. Complete the application form for the Fold Visa® Prepaid Card. You’ll need to provide your Social Security Number (SSN).
  3. Fund your account: Fold lets you add funds to the Fold Visa account using:
    1. Recurring deposits at preset routines with a linked bank account
    2. Direct deposits from a linked bank account
    3. One-time ACH deposits from a linked bank account via Plaid
  4. You should receive your new Fold Card within seven to ten business days.

Because the Fold Card is a prepaid debit card, there are no credit check or credit score requirements to worry about. This makes the card great for crypto enthusiasts who want a more secure way to trade crypto assets without a credit check.

How to Earn Rewards with Fold

Fold is one of the most popular options for earning Bitcoin rewards; it is easy to see why. The Fold platform is an online shopping app that lets users earn cash back rewards for online spending. However, those cash-back rewards take the form of Bitcoin rather than “fiat money” or government-backed currencies like the U.S. dollar.

The Fold Card is a crypto debit card that works like the Fold app (available in both iOS and Android formats) but with the purchasing power of the Visa payment network – the world’s largest network by the number of merchants. Because Fold is a Visa debit card, the Fold Card enjoys the benefit of being used online, in-store, or through mobile wallets.

Spin the Wheel

Fold cardholders earn a spin every time they make an eligible purchase of $3 or more. Make a purchase, get a spin. It’s that simple. Some offers include 25% back in Bitcoin rewards, fixed amounts (around $2.50 worth of Bitcoin crypto), or even a single Bitcoin.

Users also have the chance at extra spins if they don’t enjoy the rewards they get on their first spin. There are numerous ways to get free extra spins, including one free extra spins every Friday starting at noon ET just for adding funds to your Fold Card at least once. Other ways to get spins:

  • Winning them on the prize wheel
  • One free spin every day your balance is over $1,000
  • Two free spins every day your balance is over $10,000
  • One free spin every time you make a qualifying purchase over $250

Keep in mind that spins are time-sensitive. After making a purchase, intro tier members have one hour to use their spin before losing it; premium members have 24 hours to make their bonus spin.

Refer Friends and Help Them Grow

Fold app or card users can earn extra rewards for referring friends. The rewards take the form of sats (or satoshis), part of a Bitcoin. For new referrals, the new users get 5,000 satoshis (0.00005 BTC) in their rewards balance to get them started.

How to Redeem Rewards

Redeeming rewards with the Fold Visa Prepaid Card is straightforward. Once account holders’ sats have reached 50,000, they can withdraw their rewards to their Bitcoin wallet. Fold currently accepts on-chain wallets only, including those from competitors like Coinbase or native Segwit addresses.

Fees & Charges

Fold Tiers

Fold breaks down into two membership tiers: intro (Spin) and premium (Spin+). The intro tier requires no annual fee and offers bonuses of up to 25% back on purchases through the wheel.

On the other hand, the Spin+ tier features up to 100% back, extra spins per week, and a $150 annual fee. The premium tier also offers access to the much more lucrative premium wheel, with better odds at Bitcoin, and the chance to get the Fold Card once live at no additional cost.

Fold Fee Schedule

Fee Spin tier Spin+ tier
Annual fee $0 $150
Per purchase $0 $0
ATM (domestic) Up to $3.50 Up to $3.50
ATM (international) $3.50 $3.50
Cash reload N/A N/A
Inactivity fee (failing to pay plan fee or 12 months w/ no transactions) $5/month $0
Replacement card $5 or $35 $5 or $35

Comparison Visa Fold Visa® Prepaid Card Coinbase Card
Annual fee $0 Up to $150 $0
Rewards Up to 5% back based on CRO stake Each purchase activates a spin on the Spin Wheel Sweepstakes Up to 4% back in XLM or 1% back in BTC
Tiers 5 N/A 4

What We Like About Fold

There are several advantages to using the Fold Visa® Prepaid Card. First and foremost, it provides an added layer of security. Since the card is not linked to your bank account or credit line, you don’t have to worry about potential fraud or unauthorized transactions affecting your personal finances. If your card is lost or stolen, you can easily report it and have it replaced, minimizing any potential financial loss.

Another benefit of the Fold card and program is its flexibility. You can load and reload funds onto the card as needed, giving you control over your spending. This makes it an ideal option for budgeting, traveling, and managing expenses for specific purposes, such as groceries or entertainment. Additionally, the card can help you avoid overspending or debt, as you can only spend the amount you have loaded onto the card.

Things to Consider

While the Fold Visa® Prepaid Card has many advantages, it’s also important to consider the potential drawbacks. One limitation of using a prepaid card is that it does not help you build credit. Unlike a traditional credit card, the Fold Visa® Prepaid Card does not report your payment history to credit bureaus. If you’re looking to establish or improve your credit score, a prepaid card may not be the best option for you. However, if you’re primarily concerned with managing your finances and avoiding debt, the Fold Visa® Prepaid Card can still be a valuable tool.

Another potential drawback of using the Fold Visa® Prepaid Card is that it may come with certain fees. While these fees can vary depending on the specific card and issuer, common fees include activation fees, monthly maintenance fees, ATM withdrawal fees, and foreign transaction fees. Before applying for the Fold Visa® Prepaid Card, it’s important to carefully review the fee structure and consider whether the benefits outweigh the costs for your specific financial needs.

Fold Visa Card Ratings

How does the Fold Prepaid Visa stack up? Here is a selection of expert reviews for the card:

Should You Consider Getting the Fold Visa Prepaid Debit Card?

Bitcoin rewards are a trend that looks likely to grow – both in debit and credit card rewards programs. The Fold app is a great foot in the door into these rewards and offers the chance to earn up to a full Bitcoin in rewards for every purchase.

Now, don’t go into the Fold Visa thinking you’ll earn tens of thousands of dollars regularly. In fact, that is an exceedingly rare reward (though not unheard of). Still, the Fold app and the Fold Visa Prepaid Debit offer plenty of excellent rewards that exceed what you’d typically expect from a cash back card.

The Fold crypto debit card is an exciting option to consider for those that don’t want the hard inquiry on their credit report but want to earn rewards with every purchase. And, since the market for Bitcoin has generally been hot over the past few years, the chance is there to make significantly more money in BTC than you’d typically get with a credit card.

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