It's not often that we review a debit card, but indeed that is what we're doing today. The Point debit card is newer to the scene and offers some great value to cardholders. The Point debit card allows you to earn points not only on purchases, but rewards you for frequent use during special promos called “streaks.” The points earned can be accumulated or cashed out to your account instantly. In addition, Point debit conveniently offers a physical and virtual debit cards. You can load your account via another debit card or through a bank transfer.
Current Offer
As of September 15, 2021, the annual fee and referral links changed.
Original Referral but with new annual fee
- Sign-up Bonus: 10,000 Points (worth $100)
- Requirements: $1,000 in spend within 30 days
- Annual Fee: $99
New Referral
- Sign up
- Make first food delivery purchase within 10 days
- Food delivery included Uber Eats, Postmates, DoorDash, Seamless, Grubhub, and Caviar
- Earn $99 in points and annual fee is $99
Essentially with the new referral structure, you get the card free of charge first year if meeting the sign up requirements.
TIP: I would call and verify your terms after getting the card.
Earn Rate
The earning structure varies by merchant. The Point debit card app shows you a list of merchants and what they earn. Some routine offers include merchants like Best Buy, Amazon, and Costco at 5x points per dollar. Some of these offers are capped at a certain amount of spend, but offers usually reset monthly.
Point also earns:
- 5x on subscriptions
- 3x on food delivery & rideshare
- 1x on everything else
In addition to bonus points at certain merchants, Point also offers promos they call “streaks.” Streaks offer cardholders a certain amount of points after spending a specific dollar amount over a number of days. A recent example was earning 3,000 points after spending $200 over 5 days, with a charge of any amount each of those 5 days. Simple purchases like loading your Amazon balance count as spend for a streak, and you can still earn any bonus points for Amazon (usually 5x).
Lastly, the Point debit card offers referrals, once your referral uses your personal link you will earn the amount indicated in your link. There is no cap to referral bonuses. Should you decide to apply, our referral links are below!
Redemption
You can redeem your points via cash out at 1 cent per point directly to your account. This means the current sign-up bonus of 10,000 points earns you $100 cash, or the secondary offer of $99 worth of points (9900) and a streak of 3,000 points is equal to $30. Points from individual purchases typically post the day of the purchase. Bonus points usually post near the end of the promo period, and points from a streak will usually post within a few days of when you meet the streak requirements.
Benefits
The Point debit card also offers some valuable perks:
- cell phone insurance (up to $1,000 per 12 months, $600 per incident, with a $50 deductible)
- new purchase insurance (up to $1,000 per purchase, with a maximum pay of $25,000 per 12 months)
- trip cancellation insurance (up to $1,500 for expenses for cancellation/delay per incident)
- car rental insurance
- global travel insurance and roadside assistance when traveling
- no international travel fees
- 2 fee free ATM withdrawals per month (reimbursed via points)
As always, be sure to check the fine print on all of these terms.
Analysis
This card offers a lot of value, even if you don't use it every day. Using the Point card for the promotional streaks can earn you free cash for purchases you would already make. You can also use the Point card for elevated bonus points at stores where the value at .01 per point may be greater than using a normal credit card. The new annual fee and referral structure changes the initial profit potential. However, with that being said it is easy to still earn $30 or more a month in free money with the streaks.
Final Thoughts
Valuable opportunities in award travel come in all forms, and sometimes, that includes a debit card. Many of us at ToP have already earned hundreds of dollars with this card. Extra cash can help offset travel costs, taxes, fees, or food and beverage.
Interested in the Point debit card?
Click any one of the following links to get pointed in the right direction.
Original Referral
- Sign-up Bonus: 10,000 Points (worth $100)
- Requirements: $1,000 in spend within 30 days
- Annual Fee: $99
New Referral
- Sign up
- Make first food delivery purchase within 10 days
- Food delivery included Uber Eats, Postmates, DoorDash, Seamless, Grubhub, and Caviar
- Earn $99 in points (9900)
- Annual fee $99
TIP: Verify
Have you used a debit card to stack deals or earn free money? Want to find out more? Come over to our Facebook group and learn how we're maximizing the Point debt card.
