Point Rewards Debit Card Review (Best Debit 2021)

Recently, my wife, Bailey, and I got a new debit card and I’ve been really impressed so far. It’s called the Point Debit Card and it’s different than any other debit card I’ve ever had because it provides more benefits and protections than any other debit card I’ve had. Let me break it down!

Why Not Just Use a Credit Card?

According to Nerd Wallet, the average American household has $6741 in credit card debt from month to month. So, as a financial coach, I want people to avoid using credit cards! Many people use cash back, points, and purchasing insurance as a reason to use credit cards. Well, the Point Debit Card resolves those issues while protecting you from the exorbitant interest of credit card companies.

Point Benefits

The Point Card provides a lot of cash back benefits. You get 5% back on certain subscriptions, 3% back on delivery and ride share services, promotional points and bonuses for certain brands (recently one was 10% back on Amazon), and an unlimited 1% back on all other purchases. In addition, it provides insurance for phones, lost/damaged items, trip cancellations, and car rentals (score!) when all are purchased with the Point Card.

The card can be added to your Apple Wallet or Google Pay (which I love the ease of using these virtual cards). And it is FDIC insured up to $250k.

Point Downsides

The Point Card does have an annual $49 fee. But based on the company’s estimates, the average person would save $1230 per year with the Point Card which easily covers the fee. I understand the $49 fee because it is a rewards card. There are a lot of benefits through it and those benefits come at a cost. Since credit card companies offer benefits because they are able to make that money back from interest paid on revolving debt, the Point Card fee is completely reasonable to me.

The Point Card also does not have the ability to add a spouse to your account yet. So, if you want your spouse to have this card, they have to get their own account (and pay another $49 fee, boooooo).

So far, Point doesn’t have the ability to add a beneficiary to the account. When I contacted them about it, they assured me that if anything happened, they would work with the surviving family member(s) to allow them access to the account. I’m really hoping they make this easy to add soon because I don’t like knowing Bailey isn’t on the account.

Using the Point Card in Real Life

I’ve been using this card for about 3 weeks now and I’m a fan. Aside from the annual fee and the lack of beneficiary addition, it’s been an incredibly positive experience.

Bailey doesn’t have a physical card but that hasn’t been much of an issue. I downloaded the app on her phone so she’s able to access the account just like me. She’s also able to use the card through Apple Pay with both her iPhone and Apple Watch when at a location that accepts that.

The ease of setting up the account was simple, the card and app are incredibly clean and kinda modern. I like the modern look with the neon green a lot (there are other colors available.

The card was sent out very quickly which gives me confidence that if I needed to lock my account, I could get a new card on short notice. And the customer service has been prompt in their reply when I send in a question.

Within the past couple weeks, I’ve received emails of promotions that they are doing. One of which is “streaks” where over a 10 day period, there are 5 straight days of purchases totaling $100-$200 depending on the promotion. And if accomplished, $30 of points is added to the account.

This isn’t a problem for us because of regular everyday purchases like gas, groceries, etc. However, you do have to be careful with the promotions because of the temptation to buy things you don’t need just to get the points. This is a danger!

But overall, I’ve been really impressed with the company and the card. And I love the fact that it’s debit and forces you to live within your means. Because America needs that.

Get Your Own Plus 10k Free Points

If you want to sign up yourself, I would recommend it! If you use my referral link, you and I could receive $100 in bonus points, putting you $51 ahead after the $49 fee. I’m not recommending this because it has a referral bonus. I’m doing it because I love the card. Check it out right here.

Affiliate Disclosure: Some links within this post are affiliate links which means I get a kick back on any purchase or signup you make. This doesn’t cost anything extra to you and is merely a way to support my blog.


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