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PointCard Titan: This new luxury charge card lets you redeem rewards as crypto

Point's new charge card targets high-income and high net-worth users, with no hard credit check and no preset spending limits.

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Point has unveiled a new high-end charge card that aims to compete with the likes of The Platinum Card® from American Express and the Capital One Venture X Rewards Credit Card*. The PointCard™ Titan features a relatively low annual fee ($399) and some modern flourishes -- including a range of customization options, travel benefits and an option to redeem rewards in cryptocurrency. You can reserve a spot at Point.app for card delivery in spring 2022.

It’s worth noting that Point is new to credit cards, and has only one previous card offering, the PointCard Neon, which is a rewards debit card. With the Titan, Points says it is targeting high-income and high net-worth users, who may not have traditional income streams or an established credit history. As such, a hard credit check is not required and Point will orient its underwriting efforts on verifying your assets. 

Customization is available for rewards categories as well as card design -- an aesthetic bonus increasingly common among higher-end cards. Similar to the Apple Card, the physical Titan card does not display an account number; rather, purchases are made via the EMV chip or with a virtual credit card number on the Points app -- a feature that provides better privacy and security.

Rewards can be earned and redeemed in specific categories including fashion, groceries, travel and even EV charging, where each dollar spent gets you 3 or 5 points back, depending on the category. On purchases outside of the special reward categories, you earn 1 point for each dollar spent. Points can be redeemed for cash, bitcoin, ether, airline miles or for discounts at some high-end retailers. When you redeem for cash, bitcoin or ether, 1 point is worth $0.01, giving you the potential to collect up to 5% back on preferred categories. Crypto rewards are held in a custodial account, however, which means there’s no way to move them to an external wallet

As with many premium travel cards, the PointCard Titan offers free TSA Precheck and Global Entry, Priority Pass Lounge Access for the cardholder and a guest, no foreign transaction fees and trip cancellation insurance.

Annual fees can run high with premium travel cards like The Platinum Card® from American Express, which is $695. We think that card is worth it, however, especially for folks who like to travel first-class. The PointCard Titan has a lower annual fee, which puts it more on par with the Capital One Venture X Rewards Credit Card, which costs $395 per year. The Capital One Venture X focuses more on travel purchases for rewards than the Titan, and offers a higher base rewards rate -- but Titan is more modern with virtual credit cards, crypto rewards and flexible rewards categories.

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*All information about the Capital One Venture X Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

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Jaclyn is a CNET Money editor who relishes the sweet spot between numbers and words. With responsibility for overseeing CNET's credit card coverage, she writes and edits news, reviews and advice. She has experience covering business, personal finance and economics, and previously managed contracts and investments as a real estate agent. Her tech interests include Tesla, SpaceX, The Boring Company and Neuralink.