Credit Card To Buy Bitcoin? Are you searching for a list of cards you can use to purchase Bitcoin? A credit card is a card that lets you borrow from a bank under the agreement of repaying I by bills due date plus the interest charges. The ability to buy now and pay later outmatches other payment. However, CC helps you to establish a credit score so to can qualify for other financial products, such as loans and mortgages.
However, some of the CC issuers has banned the purchase of bitcoin and other alternative currencies using their cards. But there are still credit cards you can use to buy bitcoin. This article will unveil credit cards that work well in buying bitcoin.
Credit Card To Buy Bitcoin
What is Bitcoin? Bitcoin is a digital currency that makes use of peer to peer technology to facilitate instant payments. It is more like an online version of cash. To buy bitcoin, you can still do that using your credit card. American Express remains the holdout among other major issuers to enable the purchase of cryptocurrencies.
The other cards don’t have the mainstream acceptance, high instances of fraud, and large volatility in the market which is the reason they banned the purchase. To find out the best cards to buy bitcoin. Read the next section.
Best Credit Cards For Buying Bitcoin
You should always have in mind that before you use your credit card to buy crypto, your transaction will qualify as a cash advance. This means you’ll start accruing interest charges immediately. You will also pay a higher cash advance annual percentage rate.
Amex EveryDay Credit Card
This card gives you access to buy crypto with the power of American Express without paying an annual fee. It offers a competitive reward for each purchase made with it. Most especially when you purchase often. You should also know that cryptocurrency purchases do not qualify to earn rewards.
Cash Magnet® card
This card is issued by American Express. It provides cardholders with unlimited cashback on every purchase you make. Thus, Amex doesn’t consider crypto transactions as purchases. The card offers a 0% APR period for your first 15 months of using the card.
Alliant Cashback Visa ® Signature Credit Card
Alliant cash back visa card lets cardholders buy cryptocurrency. Thus, it still has the same cash advance hurdle as other cards.
However, it offers cashback on all eligible purchases spent each billing cycle. Offers free annual fee for the first year.
Blue Cash Everyday® Card
The blue cash Everyday card is issued by American Express. It offers a free annual fee. Users can earn as much as 3% cashback on all purchases, but not on cash advance transactions which includes cryptocurrency purchases. Thus, you will have to pay some hefty fees for it.
USAA Preferred Cash Rewards Visa Signature
It is one of the cards issued by American Express. It is also one of the first banks to invest in cryptocurrency exchange Coinbase. And was regarded as the most Bitcoin-friendly banks in America.
However, with this card, you can access your Coinbase accounts through the bank’s mobile app and even make trades directly from their USAA checking accounts. The positive aspect is that it doesn’t have an escalated cash advance APR. But will start to accrue interest immediately you initiate the transaction, but at the same rate as your regular purchases.
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