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2025.9 Update: Details are out, and the first batch of people on the waitlist have already received application links.
Application Link
- Just announced; there’s no public application link yet. You can join the waitlist: Coinbase One Card
Features
- Up to 4% back on all purchases, paid as Bitcoin (BTC) to your Coinbase account. Your cashback rate depends on how much you hold at Coinbase:
- Tier 1: 2% back if your Coinbase assets are < $10,000;
- Tier 2: 2.5% back if your assets are $10,000–$49,999.99;
- Tier 3: 3.0% back if your assets are $50,000–$199,999.99;
- Tier 4: 4.0% back if your assets are ≥ $200,000.00.
Important: For Tiers 2–4, the higher rate only applies to the first $10,000 in purchases each calendar month; any spend beyond that earns 2%.
- This is a third-party American Express card. It supports AmEx Offers, but acceptance outside the U.S. is typically weaker than Visa/Mastercard.
- No foreign transaction fee.
- Annual fee: $0 for the card itself. However, you must have an active Coinbase One membership to apply, which effectively makes the “fee” the $49.99/year Coinbase One membership.
Disadvantages
- No sign-up bonus (at least for now).
- The extra cashback above 2% is capped: only the first $10k per calendar month qualifies for the higher tiered rates.
Summary
Coinbase is the largest, most compliant U.S. crypto exchange, and this card’s rewards are paid in BTC. Since the higher rates require parking assets at Coinbase, you should at least be comfortable with crypto to consider it. That said, you don’t have to hold volatile coins: if you want to avoid price swings, you can keep USDC (a USD stablecoin) on Coinbase and earn interest instead.
While the headline “up to 4% back” sounds great, the $10k/month cap on elevated earn is a bit underwhelming. Compared with no-AF 2% cash-back cards like Citi Double Cash (DC), this card effectively asks you to pay $49.99/year for Coinbase One. Run the math on how much you’ll keep at Coinbase and whether the incremental earn over 2% will at least cover that membership cost.
Historical Offers Chart
Application Link
- Just announced; there’s no public application link yet. You can join the waitlist: Coinbase One Card
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