Binance Credit Card - tried out the virtual one -> got the cashback and was allowed to order the physical copy

Binance Credit Card - tried out the virtual one -> got the cashback and was allowed to order the physical copy

Some 4 weeks ago I ordered the Binance Credit Card,
until now I didn't get a physical copy. Quote: "Binance physical cards are under manufacturing time periods at the moment and will not be delivered for 6 to 8 weeks", but as I can't even see the "activate"-button of the physical card something may have gone wrong.

UPDATE: After I made the first purchase with the virtual card and the payment was completed, I was informed that the virtual copy will be canceled after 90 days and that I should order the physical card. What I did of course:

Congrats, your Binance Physical Card is on the way! It will be delivered to your address in 7-14 business days. In a meantime you can enjoy shopping with your Binance Virtual Card. Check the card details in the Card Dashboard.

I think, you will only get the physical card, if you use the virtual one at least once.

Back to the virtual card - let's see how it worked:

In my region it is a Visa debit card, powered by Swipe, which draws money directly from my Card Wallet when I make the purchase.
[So not a real credit card (which charges my spendings to a credit line and settles it at the end of the month). ]

I allready had a free Credit Card and I don't necessarily want to sell my coin funds for an everyday purchase, so what's my advantage?

  • I hold some EUR in Binance Flexible Savings with an 2.54% APY at the moment, for unexpected bargains and because of the interest.
  • If I want to use the card, i unstake the necessary amount of EURs, transfer it to the card wallet and pay via binance card. (You may manage the card wallet directly in the mobile app. Available currencies for now are EUR, BUSD, BNB, SXP, BTC, if you use crypto it will be converted the very moment you purchase something. The card is billed in EUR.)
  • I have to pay a third-party processor fee of 0.9% of the volume, which is suspended until end of 2020.
  • There is a cashback in BNB, from which you will at least get 1% of the volume back (unfortunately only to the card wallet), so a slight advantage of minimum 0.1%.
    The cashback percentage will depend on your card level, which is based on the average amount of BNB in your Binance wallets during the last 30 days. It goes up to 8%, as you see in the table below:

            Card Level        average BNB holdings  BNB cashback rewards  
            1                       0                                    1%
            2                       10                                  2% 
            3                       50                                  3%
            4                       200                                4%
            5                       500                                5%
            6                       2,000                             6%
            7                       6,000                             8%

As I prefer to spend EUR and hold BNB I adjusted the wallet (drag and drop) to first spend EUR and only then other coins.

You can see your cashback transactions in the cashback vault. They will be marked pending, completed, or declined there. Access it in the transaction history in the tab “Cashback Vault” or by clicking on the Lifetime Cashback Balance link next to the image of your Card in the card dashboard.



  • Funds once transfered to the card wallet will remain there, you won't get them out again except by paying with the card - so transfer just before a purchase and only the necessary amount.
  • The Binance Card cashback program only applies to eligible purchases made with your Binance Card. There is a list of qualified merchants and conditions, but I didn't find it. For sure following types of transactions are excluded: digital banking services, crypto exchanges, stored value products, money remittance services.  
  • The daily spending limits for the virtual card is rather low at 870 EUR,
    whereas for the physical card it's with 8000 EUR too high in my opinion.)
    The monthly spending limits are 2000 EUR for the virtual card and 20,000 for the physical card. 
  • It seems like you have to live in Europe to apply for the card.
  • ATM withdrawals limit is 300 EUR per month and 150 EUR per single ATM withdrawal .


So, today, I went to and bought something. I filled my Binance Card Wallet with EUR before, after 5 seconds the money was deducted from the wallet (whereas the card transaction is still marked pending and an entry has not yet appeared in Cashback).
Two days later it is still pending, which means: "Will be reverted if unclaimed by merchant within 14 days." Seems that amazon has its own mechanics when to debit the credit. 
Eventually (can't say, when exactly) it was "completed" and the cashback arrived as BNB to my card wallet.


The article most worth reading on publish0X concerning the Binance Card was from Ariman, sharing his personal experience with the Binance Card, enjoyable reading and absolutely under-tipped. (I don't know him, but I still like the article - just saying it's no personal benefit associated with it.) 




Experimentalist, Mathematician, Austrian, eager to learn.

Investing, Saving, Earning & Delighting
Investing, Saving, Earning & Delighting

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