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PointCard is Introducing a Premium Charge Card Called Titan
A few months back, after seeing social media ads for a premium debit card called PointCard, I caved and decided to give it a shot. Since then, the offering has evolved some, recently moving its partner bank and issuing a new card design. On top of that, it seems as though Point has a new and different product in the works — a charge card (or at least what sounds an awful lot like a charge card) called Titan.
While all the details of PointCard Titan have yet to be released, the card’s landing page offers us a pretty good idea of what the product entails. First, when it comes to rewards, users will be able to select two spending categories (of five possible options) that will earn 5x points as well as two 3x categories (again selecting from five options, albeit five different options from those featured in the 5x list). Apparently cardholders will be able to swap their selections on a monthly basis if they so choose. All other purchases will earn 1x points. That said, like with the PointCard debit card, there will be other retailer-specific offers for enhanced earnings… although I’ve never heard of any of the brands they name drop on the preview site.
The list of 5x spending category picks includes:
- Rideshare
- Food delivery
- Subscriptions
- Fitness
- EV charging
And the 3x category options include:
- Travel
- Dining
- Groceries
- Entertainment
- Fashion
Before we get to my thoughts on these rewards, let’s also talk about the other features of the Titan card. Staying on the rewards theme, while points will apparently still be redeemable for cashback a la the Point debit card, they’ll also be transferable to various airlines. In particular, the site notes transfers to airline alliances such as SkyTeam, Oneworld, and Star Alliance along with individual airlines including JetBlue, Lufthansa, and “20 others.” Lastly, points will also be convertible to crypto, although no further details on that are listed (but I’d presume it’d just be buying crypto at a rate of 1¢ per point or something similar).
Given the travel focus that’s now apparent, it should come as no surprise that the card will feature a TSA Precheck or Global Entry credit along with a Priority Pass that grants airport lounge access to you and a guest. The card will also waive foreign transaction fees. Additionally, the site notes the inclusion of trip cancellation insurance, with the fine print mentioning a cap of $2,000 per incident.
Now, you’re probably wondering how much a card such as this would cost. Well, the answer is $399 per year. Also interesting is that applicants will apparently need to have at least $100,000 annual income or $10,000 in liquid assets in order to be eligible. I suppose that rule is in place because it is a charge card — and one that says applying “won’t affect your credit” at that.
So what do I think of the PointCard Titan? Well, I’ll start by saying I don’t think it’d be worth it for me personally. Looking at the rewards, the 5x categories are decent, but I don’t see spending that much in any one of them to get a ton of value. However, if you are an EV driver, perhaps the charging category would be useful (he said having no idea how much charging costs for such vehicles). I will say that, depending on how broad the “subscription” category is, it could be useful — assuming it included things like my EveryPlate and Cometeer subscriptions and not just streaming platforms. But I wouldn’t hold my breath there. Similarly, the 3x categories are merely decent and don’t go above and beyond what you’d get from no-annual-fee cards such as the Capital One SavorOne. And while I’m sure it wouldn’t apply to me anyway, I’ve very curious what exactly a “fashion” spending category means.
Meanwhile, the other announced benefits of the Titan card don’t account for the annual fee in my mind. The TSA Precheck/Global Entry credit is, at most, a $100 value every five years while Priority Pass is offered by cards with lower annual fees. On that note, what seems to be missing from the product right now are other credits that might help offset that $399 expense. For example, the U.S. Bank Altitude Reserve card is also $400 a year but includes a broad $325 travel credit.
Despite my current negativity, I am interested to see what the PointCard Titan ultimately becomes when it arrives next year. After all, I was skeptical on the Point debit card too and ended up finding significant value in that once I gave it a try. With that, I’ll be keeping an eye on PointCard as this intriguing FinTech continues to grow.
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