PLUTUS CARD is a rechargeable credit card on the Visa circuit, which offers PLU cashback on all purchases.
Who is PLUTUS and what is its PLU token?
Plutus is a London-based company, founded in 2017, regulated by the UK FCA and regularly publishes information about its business, including a quarterly liquidity and risk report.
The native PLU token is listed on Coinbase and other exchanges, it can be used to make purchases through the card, to pay commissions and obtain discounts and benefits. At the time of writing, it has a market capitalization of just over $9 million and is positioned in 768th place in the rankings on Coinmarketcap.
LEVELS AND CASHBACK
The card is available in 3 levels: STARTER, EVERYDAY and PREMIUM, each with its own benefits and costs.
STARTER: free maintenance, 1% swap, 3% cashback up to €250 monthly spending (MAXIMUM €7.50 monthly cashback), 1 perk* included
EVERYDAY: €4.99 monthly maintenance, free swap, 3% up to €2000 monthly expenses (MAXIMUM €60 monthly cashback), 2 perks included
PREMIUM: €14.99 monthly maintenance, free swap, 3% up to €22,500 monthly spending (MAXIMUM €675 monthly cashback), 3 perks included
Card issuance: free (this aspect is not yet completely clear, some say you have to pay €5)
*PERK means the 100% refund of one or more subscriptions or gift cards worth around €10 such as Netflix, Spotify, Uber, Playstation, Amazon and many others.
SUBSCRIPTION
To the three levels mentioned above, "subscription plans" can be added, which require a minimum staking of PLUs:
HERO: 400 locked staking PLUs are required to receive 4 perks and 4% cashback
VETERAN: 800 Plu in blocked staking are required to receive 5 perks and 5% cashback
LEGEND: 1600 Plu in blocked staking are required to receive 6 perks and 6% cashback
G.O.A.T.: 3200 Plu in blocked staking are required, to receive 8 perks and 8% cashback
LIMITS AND FEES
PLU withdrawal: €3
Card cost: free, new card request: €5
Purchases: no fee
ATM withdrawals: €1.50 per transaction, €5 for foreign currency withdrawals
Inactivity cost: €10 per month after 12 months of inactivity
Recently, some users have been alerted that Plutus will soon raise some fees and there will be big overall changes, so it would be wise to wait a little longer. After all, it remains a rather interesting choice, keeping in mind that the commissions are very high and that staking PLU is not like blocking Bitcoin, the risks are considerably greater.
I would be happy to hear from you what you think of this card, especially a comment from those who own it.
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Here below some links if you'd like to support me:
Nexo and Nexo Card (Earn crypto at the highest rates, get 2% cashback on your purchases and receive 25$ when you register and deposit 100$)
https://nexo.com/ref/j6atsfddtw?src=android-link
Freecash (earn 20/100$ each month without cash investment)
Cointiply (earn 20/100$ each month without cash investment)
