Rewards Evolution

Mat Rix -

Our next evolution of rewards is nearly upon us! Soon you’ll be able to earn rewards on all your biggest monthly expenses (mortgage, rent, etc) simply by using your account and routing number found in the Fold app.

We’re not ready to give you all the details quite yet, but we did want to provide you with a little of the “why” and give you a chance to stack as many spins as you want while you can!

Why?

As Fold has become the number one place to manage your finances powered by bitcoin, there has been a growing need to make paying bills “more Fold”. We’ve always had the account and routing number available but one major piece was missing. Rewards.

Paypal Bill Pay fills in some gaps, but it’s a “Stack Hack” workaround dependent on a third party. You’ll still be able to utilize it normally (and you still should), but we wanted to bring rewards to EVERY bill.

And soon you’ll see how! Stay tuned!

Spin Wheel

If you’ve been here from the beginning you know the Spin Wheel has done A LOT of evolving!

Initially:

  • 1 spin
  • 5 minute time limit
  • determined your entire reward

Yes, it's true. No category boosts, no base reward, no second chances. Sometimes it was great! Sometimes you were stuck with nothing!

Then we got better:

  • Time limit increased to 24 hours, then 7 days.
  • Respins were added
  • Shift to a base reward model with Spins as a supplement and chance to score huge!

As time has passed and the program has evolved, the Spin Wheel has become less central to the Fold experience and overall rewards.

We've added:

  • Category Boosts - 1.5%+ on Dining, Travel, and more!
  • Merchant Boosts - 3%+ on some of the biggest merchants in the world like Walmart, Target, Costco, Sams Club. Plus the biggest grocers like Aldi, H-E-B, and Wegmans
  • Gift Cards - 100s of gift cards with rates 2.5% -  20%. Amazon, Kroger, Home Depot, Lowes, Airbnb, Doordash, Uber, Instacart and countless others!
  • Bill Pay - soon!

So as we continue to emphasize enabling more people to earn more rewards on all their expenses, the Spin Wheel makes another evolution.

What's staying the same?

First, the daily spin has been a staple of Fold since day one, and that will continue! Every day you log in, you get a spin on the wheel.

For Spin+ subscribers that’s a free shot at a bitcoin every single day!

What is changing?

Once we launch the new Bill Pay rewards, you’ll no longer receive 1 spin per $10 of spend. So spin your heart out this weekend and early next week. Buy that bitcoin, buy those Gift Cards, and use your Fold Debit Card to stack as many spins as you can! We hope you hit some big ones!

What's next?

If you’re a Spin+ subscriber, get ready for a whole new way to earn rewards! If you’re not, don’t worry, you can still sign up for Spin+ and you’ll be eligible to earn rewards on your biggest bills this month!

Edit: Added ACH Bill Pay Rewards on 7/23

Keep stackin, friends!