The Gemini Credit Card® review: Ideal for crypto beginners

The Gemini card is targeted to crypto fans looking for a low-stakes, low-fee way to invest a little extra in the market. Unlike some competing crypto rewards cards, the Gemini card doesn’t limit you to one specific cryptocurrency to invest in or base your rewards rate on how much money you have invested. This flexibility, combined with the card’s $0 annual fee, makes it a great starting point if you’re curious about crypto credit cards.

Rewards: Generous rates for everyday purchases

The Gemini card offers a solid rewards rate in several practical everyday spending categories, making it easy for most people to maximize and viable as a standalone card. 

To start, you’ll earn up to 4% back on purchases at gas and EV charging stations, transit, taxis and rideshares, which beats out the rate you’ll get on many of the best credit cards for gas. You’ll only earn the full 4% back on the first $300 you spend at gas and EV charging stations each month (after which you’ll earn just 1% back and the cycle refreshes on the first of the month), but that’s plenty of room for many people. Plus, the rate is so high that the card should still offer great value even if you spend well beyond $300 per month.

Meanwhile, the card’s 3% back on dining is on par with the rate you’ll get on other no-annual-fee rewards cards, like the Capital One Savor Cash Rewards Credit Card (See Rates & Fees) — one of our top-rated dining rewards cards. 

The card’s grocery rewards rate (2% back on groceries) is just okay (it falls short of the rate you’ll get on some of the best grocery rewards cards and matches the rate you’ll get on all purchases with many flat-rate rewards cards), but it’s still a welcome addition considering few rewards cards offer more than 1% back in all three of these key spending categories.

Plus, since your rewards value is tied to your crypto investment, the Gemini card may prove more lucrative than a traditional cash back card or even a card that earns points or miles. Of course, your rewards can also end up losing value if your crypto investment performs poorly.

Rates and fees: Chance at low APR

This card carries no annual fee, and you have a chance to qualify for a competitive APR, which could make it a decent choice should you need to carry a balance. While carrying a balance should be avoided whenever possible, this card’s low-end interest rate is a bit lower than the current average credit card interest rate. That said, the high end is very high indeed.

Redemption: Easily invest your rewards in crypto

Very few credit cards make it easy to invest your rewards. While there are exceptions — like the Fidelity® Rewards Visa Signature® Credit Card* — you’ll typically need to go through the trouble of moving cash back into your investment account manually if you don’t want to settle for more common redemptions like statement credits, gift cards, direct deposits, merchandise.

Investing your rewards in crypto is even less common. Along with the Crypto.com Visa Signature® Credit Card*, the Gemini card is one of the only cards that make this available (unlike the Gemini card, however, the Crypto.com Visa is a prepaid card, not a credit card). 

Upon selecting your preferred cryptocurrency, rewards are automatically deposited into your Gemini account with each eligible purchase. And since you aren’t quite contributing money out of pocket (just a little extra cash back that may otherwise sit unused), there’s limited risk.

While the Gemini Card differs from traditional cash back cards in that it earns rewards as crypto, it features similar rewards rates and bonus categories. Consider these alternatives if you're on the fence about which type of card fits you best.

This might be a great card to add to your wallet if you fall into one of the following categories:

• You're already involved with or interested in investing in the crypto marketplace can make the most of the Gemini Card

• You’re interested in getting started with crypto and commute often to and from work in your own vehicle

*The information about the Fidelity® Rewards Visa Signature® Credit Card and Crypto.com Visa Signature® Credit Card has been collected independently by Bankrate. The card details have not been reviewed or approved by the issuer.  

We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.

Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest). 

We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review: