The end of PointCard Neon

PointCard announced that it’s ending its debit card program – Neon.

It shared the following announcement via its site:

“Point’s bank partner can no longer support PointCard Neon, and therefore all PointCard Neon debit card accounts will be closed by Friday, September 23, 2022.

Making this difficult decision will enable us to fully focus on serving you with our new flagship product – a modern charge card packed with more of the features you love, like configurable rewards, privacy-first design, and exclusive travel benefits.”

Starting tomorrow, users will no longer be able to transact using their PointCard Neon.

As background, PointCard is a San Francisco-based fintech startup that has raised $60 million across 4 funding rounds. It was founded in 2018 to offer an account and debit card for $49/year. Users received two free ATM withdrawals per month and they didn’t pay any foreign transaction fees. The Point card also offered points with every purchase including 5x points on subscriptions such as Spotify and Netflix, 3x points on food deliveries and ride sharing, and 1x points on everything else. In addition, users who paid with their Point card received trip cancellation insurance, car rental insurance, global travel assistance, phone insurance and new purchase insurance – thanks to AIG and Sedgwick.

Going forward, the startup which has lost 7% of its workforce over the past year, is planning to launch a “modern charge card” packed with “configurable rewards, privacy-first design, and exclusive travel benefits.”