Effective October 1, 2022, holders of the BlockFi Rewards Visa® Signature Card with a monthly spend of $100 or more are eligible for 1 free Bitcoin withdrawal per month for any month in which the spend threshold is met. The free withdrawal is processed as a rebate that is issued on the 2nd Friday of the following month to the BlockFi Wallet - the same day that standard credit card rewards are paid. Note the following:
- Only withdrawals of BTC are eligible for the rebate.
- Withdrawal rebates are paid in BTC and do not roll over.
- Rebates are not considered taxable income events.
For example, suppose you spend $105 on your BlockFi Rewards Visa® Signature Card in October. On October 15, you withdraw some BTC to a self-custody wallet and are charged the standard withdrawal fee. On the 2nd Friday of November, you would receive your credit card rewards as usual in addition to a rebate in BTC of the fee for the withdrawal requested on October 15.