Point is a new rewards debit card on the market. Let’s take a look in this quick review.
- Annual fee of $49
- No sign up bonus, although you can get 50,000 points (worth $50) when signing up through Drop
- Card earns at the following rates:
- Earn 5x on subscription purchases
- Earn 3x on delivery and ride share
- Earn 1x on all other purchases
- Points are worth 1¢ each
- Phone insurance covers up to $1,000/yr. in loss or damage when you pay with Point Card.
- New purchase insurance reimburses you up to $1,000 in loss/damage.
- Trip cancellation insurance covers up to $1,500 for expenses for cancellation/delay.
For most people they will be better of with just a standard rewards earning credit card, especially as this debit card comes with an annual fee. There are some limited use cases for this point card, but how useful that is will depend on how tolerant Point is with large purchases.
Hat tip to reader T