Introducing the Point debit card
Point Card, the California-based startup looking to bring rewards and benefits to debit cards, has recently introduced a new debit card that comes with a range of benefits.
The new card, which has a yearly membership fee that starts at $49, includes 5x points on subscription-based services like Netflix or Spotify, an additional 3x points on food delivery such as Uber, Seamless and more, and 1x points on everything else. There are also insurance benefits including phone insurance, new purchase insurance, trip cancellation insurance, and car rental insurance. Some restrictions apply and coverage is provided by New Hampshire Insurance Company, an AIG company.
Founded in 2018, Point raised $12.7 million from a variety of investors such as Valar Ventures, Y Combinator, and Kindred Ventures. The startup offers banking services in partnership with Radius Bank and accounts are FDIC-insured up to $250,000.