Several weeks ago, I talked about the lackluster offers from my current bank. Granted, they are rather crypto-friendly compared to other establishments in the financial sector. At the end of the day, there are better options out there even outside of crypto.
Now, even the cashbacks have more restrictions placed upon them. I used to be able to claim whatever amounts when I get around to review the books. Recently, a minimum threshold of $25 is in place for all my cashback rewards. In the grand scheme of things, that's not a big deal. Although, it is somewhat annoying for one of my cards that has less recurring traffic.
At the same time, I have noticed extra promotional cashback rewards on my dashboard.
It's too bad, most of them are places I would never visit. This reminds me of getting useless coupons for products I would never buy on Ibotta as time went on. That's another story altogether.
Of course, even the seemingly most useful cashback is somewhat of a joke. I mean, a $2.50 reward limit? That's $50 of gas. In Utah, the price of gas is around $3.89 per gallon. Yes, I know it's cheaper than a lot of places in the world, but that's not the point. I can buy a little under 13 gallons of fuel. Given how much I drive, this isn't half of what I use each month.
With more and more alternatives like Coinbase Card, Fold, etc. I find myself trying new things. I'm still experimenting with different financial products before I make a permanent move. In a changing regulatory space, it's also challenging for plebs like me to go all-in on a few things.
For example, the 10% interest on HBD is great. But, what are the implications with regulators about stable coins in the future? Where does that asset fall when compared to more centralized products like USDC and USDT? Alas, there are no easy answers and there aren't any. So, at the end of the day, we are all taking risks and responding to the whims of the powers that be.
At the same time, I'd much rather have clearer rules than getting whacked for some gray area. Say what you will about governments and their bureaucrats. As it stands right now, they can end you when they feel like it. You can't the other way around.