BlockFi Rewards Credit Card Unavailable Following Bankruptcy Filing

Current cardholders can only pay off existing purchases, while prospective applicants are out of luck.
Published
Profile photo of Sara Rathner
Written by Sara Rathner
Senior Writer/Spokesperson
Profile photo of Kenley Young
Edited by Kenley Young
Assigning Editor
Fact Checked

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

MORE LIKE THISCredit Cards
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

The BlockFi Rewards Visa® Signature Credit Card is unusable to existing cardholders, and completely unavailable to new applicants, following the news that the cryptocurrency trading and lending platform BlockFi filed for Chapter 11 bankruptcy on Nov. 28, 2022.

"The BlockFi Card is paused and cannot be used to make purchases at this time," according to a BlockFi representative. "New cards are not being issued. Clients should continue to make their regular statement payments. Assets held on the BlockFi platform cannot be used towards these payments."

Previously, the BlockFi Rewards Visa® Signature Credit Card earned 1.5% back in crypto on all purchases, plus additional earnings if you spent more than $30,000 per year or used your card at select merchants. You could choose to earn rewards in the form of around a dozen cryptocurrencies.

Customers are currently unable to withdraw funds from their BlockFi accounts, and BlockFi has asked customers to refrain from making deposits to their BlockFi Wallet or Interest accounts. For now, there’s no specific timeframe for how long the bankruptcy process will take. BlockFi directs anyone with questions to Kroll, their claims agent. Email [email protected], call (888) 773-0375, or call (646) 440-4371 if you’re outside of the U.S.

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Get Started
Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.