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Stakingbits cripples card rewards program with massive changes

Bear market things?, the world’s fastest growing crypto app, cripples its existing Visa Card rewards program from 1 June 2022 by introducing several changes for cardholders:

  • Reduction in CRO rebates for card spend
  • Capped CRO card rebates
  • Reduction of CRO card staking rewards

Reduction in CRO rebates for card spend

The above table reflects the new CRO cashback rebates rate from 1 June 2022. Across all tiers, the active stake cashback rebates will be approximately halved. For example, Royal Indigo and Jade Green holders will now receive only 1.5% CRO rebates when having an active stake instead of 3% previously.

Those with an active 6-month stake who staked before 1 May 2022 will continue to earn CRO Card rewards on spending at the current rate until their 180-day stake expires.

Capped CRO card rebates

There is a maximum monthly cap CRO rebates when you spend on your Visa Card for lower tier metal cards.

Elimination of CRO card staking rewards

Jade Green, Royal Indigo, Frosted Rose Gold, Icy White, and Obsidian cardholders with an active 6-month stake and who staked before 1 May 2022 will continue to earn Card CRO staking rewards at the current rate until their 180-day stake expires.

Following the stake expiry, the revised rates will apply:

  • 8% p.a. for Private Members with an Obsidian, Icy White, or Frosted Rose Gold Card
  • 4% p.a. for Jade Green or Royal Indigo cardholders

Previously, card stakers will receive between 10% to 12% annually for staking CRO with rewards paid weekly. Going forward, there will be no more staking rewards.

Existing benefits like 100% rebates on Netflix and Spotify remain

There is no change to other card benefits — you will continue to receive 100% reimbursements subscription services like Spotify, Netflix, and Amazon Prime.

These reimbursements will be excluded from the calculation of your monthly CRO cap. Furthermore, those that hold selected metal cards can continue to enjoy unlimited complimentary LoungeKey™ airport lounge access.

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