Point is a new rewards debit card. The main points of the card is that it has a $49 annual fee, a $100 sign up bonus via referral and the card earns at the following rates:
- Earn 5x on subscription purchases
- Earn 3x on delivery and ride share
- Earn 1x on all other purchases
All of that is pretty straight forward but the real reason we are posting this is that we’ve been seeing consistent spending offers from Point as well. Some of the better offers have been as follows:
- In June spend $100 total and also have 5 transactions 5 days in a row to get $30 of points
- Make purchases of $5 or more five days in a row within the next ten days and get $15 of points
- 1 point per $1 for the first transfer made by a linked bank account before 05/24/2021. Maximum of 1,000 points
- Three months of Spotify Premium for free when you connect your Points card to Spotify
- 15x points at Target through May 2, limit 5,000 points
- 5% on Best Buy until June 13, 2021. Maximum of $50
Between those offers there is easily another $50+ in value, probably closer to $75. You basically make $50 from the first year on the referral ($100 referral – $49 annual fee). Obviously that becomes significantly better if you’re able to refer friends & family. The real question is if we will see these smaller deals continue or not. Point raised another $10 million in July 2020 so I suspect they still have some money to burn.
Personally this is a pass for me as I know I won’t chase these deals as aggressively as they need to be to make it worth it. For others (especially if you can refer a few people) it is worth it.
