Visa Card Review 2022

Photo of author

by Enoch Omololu


Advertiser Disclosure

The Visa Card is one of a few crypto prepaid cards available in Canada. This crypto card offers cash back rewards like a regular credit card and has five reward tiers.

Cash back rewards are paid out in CRO which is’s native token. To earn the maximum rewards and perks, you need to stake CRO in your wallet.

This Visa Card review covers what you need to know about its features, benefits fees, limits, and more.

What is is one of the largest cryptocurrency exchanges in the world with more than 10 million users worldwide.

It supports over 100 cryptocurrencies and 20 fiat currencies. offers more than just cryptocurrency trading. You can also use the platform to stake and earn interest on your digital assets or dabble in NFTs.

Advanced traders can use for margin, swaps, and derivatives trading. Coin or Cronos (CRO) is the native token that powers the exchange (similar to how the Binance Exchange and Binance Coin work together).

More recently, introduced its line of Visa debit cards with rewards of up to 8% back.

You can learn more about this platform in my exchange review. visa cards

What is Visa Card? Visa Cards are available in five main formats:

  • Midnight Blue
  • Ruby Steel
  • Royal Indigo/Jade Green
  • Frosted Rose Gold/Icy White
  • Obsidian

These cards vary in the rewards they offer which is in turn, dependent on how much CRO you stake.

The Card is issued by Digital Commerce Bank under license from Visa International. Visa Card Features and Benefits

For clarity, I have summarized what each Card offers and its staking requirements. visa cards

Midnight Blue Card

This is’s entry-level Visa Card. It has no staking requirements and no annual fee.

Users earn 1% back in CRO on all purchases, and it is deposited in their CRO wallet on the app.

Ruby Steel Card

Starting from the Ruby Steel card, you get a physical metal card you can carry in your wallet. There is also a CRO staking requirement to get the most benefits from the card.

Staking requirement: The amount of CRO you need to stake is fixed in your local fiat currency and not the number of CRO. For Ruby Steel, it is $500 in Canadian dollars.

Rewards: Earn 2% CRO rewards and 100% reimbursement of your monthly Spotify subscription fees ($12.99 USD/month). staking requirement

Royal Indigo/Jade Green Cards

These two cards are’s mid-tier prepaid cards.

Staking requirement: $5,000 CAD worth of CRO.

Rewards: Earn 3% back in CRO rewards, plus reimbursement of your Spotify and Netflix monthly subscriptions ($13.99 USD/month equivalent).

The crypto-back rewards fall to 1.50% if you don’t maintain a CRO stake.

Frosted Rose Gold/Icy White Cards

These Visa Cards offer premium perks including airport lounge access via LoungeKey.

Staking requirement: $50,000 worth of crypto.

Rewards: Earn 5% CRO rewards, plus:

  • Reimbursement of your Spotify ($12.99 USD/month), Netflix ($13.99 USD/month), Amazon Prime ($12.99 USD/month) membership fees.
  • Reimbursement of 10% of Expedia fees up to a maximum of $50 USD/month.
  • Free and unlimited LoungeKey Airport Lounge Access for the cardholder and 1 guest.
  • Access to Private for OTC block trades, research reports, priority customer service, and more.
  • Access to bonus rewards and an exclusive merchandise welcome pack.

The cash back rewards fall to 1.75% without a CRO stake.

Obsidian Card

Obsidian is’s most premium card offering.

Staking requirement: $500,000 CRO.

Rewards: Cardholders earn 8% back in CRO rewards and all the benefits that come with the Frosted Rose Gold & Icy White line of cards.

They also enjoy 10% off Airbnb fees up to a maximum of $100 USD per month, and luxury privileges on their first flight with one of the largest private jet networks in the world. visa card rewards

Visit (Get a $25 bonus when you stake for a card – Ruby Steel and up). Visa Card Fees Visa Cards do not have monthly or annual fees.

There is the staking amount ranging from $0 to $500,000, however, this is not a fee, and you can ‘unstake’ or withdraw your CRO holding after 180 days.

Note that some perks are tied to keeping an ongoing CRO stake.

There are also no administrative charges for foreign currency withdrawals if you keep within the card’s limits.

When you exceed the free limit, a $5 fee applies per ATM withdrawal (see the “Fees and Limits” section of your account for the free withdrawal limit per card).

If you lose your card and need a new one, the cost is $70 or $10 for Midnight Blue.

How To Apply for a Visa Card

You need to have a account to apply for their cards.

To get started, sign up here (includes a $25 USD bonus in CRO when you stake for a Ruby Card or above).

You can also use the referral code (ypa22jvaeg) to get the bonus offer.

After completing the verification process on the app, choose your card of choice and follow the steps to stake CRO.

You can fund your account using fiat via bank transfer or deposit crypto directly and the card is shipped to your address within 7-14 business days.

As of this writing, Visa Cards are available in Canada, Singapore, the United States, and several countries in the European Union. Card FAQs

How do crypto Visa cards work?

Crypto Visa cards work like regular Visa credit cards and can be used to pay for purchases at millions of merchants worldwide. These cards convert your crypto asset into the local fiat currency, and you typically earn rewards with each purchase.

Is the Card worth it?

It depends on your view of cryptocurrency and whether the benefits (e.g. free Netflix and Spotify membership) and CRO rewards outweigh the benefits you would otherwise get from a no-fee cash back credit card.

Are Visa cards free?

Yes, they don’t have an annual fee. That said, you are required to stake CRO which can run into thousands of dollars depending on the card you choose.

Which crypto cards are available in Canada?

In addition to’s Visa debit, you can also apply for the Spend Visa Card or join the waitlist for upcoming ones like the Shakepay Card and Nexo Mastercard.

Related: Visa Card Review 2022

Best Credit Offers this month

Earn up to 10% cash back for a limited time ($100 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 10% bonus cash back in first 2 months ($100 value).

1.95% balance transfer offer for 6 months.

Get up to 10% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Access to a portion of your paycheque 3 days early.

Free budgeting app with automatic savings features.

Credit building is available with a subscription.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

Retirement 101 eBook - 3D


Photo of author
Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

2 thoughts on “ Visa Card Review 2022”

  1. Can this credit card be used as an international credit card without being charged the high admin other credit cards charge? If I use my Canadian credit card in the USA – I get charged the exchange rate plus the administrative rate.

    • @Rob: No. As per its help section, there are no administrative charges for overseas withdrawal of cash if you keep within the cash limit of the card. Check your card’s paperwork for the daily limits that apply.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.