22 Benefits of the Point Debit Card + Review

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The PointCard Neon debit card earns cash-back on popular spending categories, from streaming services to food delivery and groceries, making it perfect for everyday purchases. 

The Point Card features lucrative earning rates, offering 5 points per dollar on streaming services and 3 points on food delivery and rideshare services. 

Plus, it currently has a 10,000-point welcome offer and provides great benefits, including trip cancellation, purchase protection, cell phone insurance, and secondary car rental insurance.

 Several more perks easily offset the $99 annual fee, especially the limited-time offers featuring added points earnings with select merchants. 

We have a lot to cover with this debit card, so let’s dive right in. 

Point Neon Debit Card
  • Welcome Bonus of 10,000 Points ($100)
  • 5x Points on Streaming Services
  • 5-20X Points During Rotating Promotions
  • 3x Points on Food Delivery and Ride Sharing
  • Two Free Monthly ATM Withdrawals
  • Cell Phone Insurance and Purchase Protection
  • No Foreign Transaction Fees
  • $99 Annual Fee
Learn More

1. 5x Points on Streaming Services

The Point Neon Debit Card earns generously on various subscription services. 

You’ll earn 5 points per dollar (equivalent to 5% cash back) spent on the following: 

  • Netflix
  • HBO Max
  • Hulu
  • Spotify
  • Feather
  • Pandora
  • YouTube Premium
  • Headspace
  • DoNotPay
For example, if you had subscriptions to Netflix, HBO Max, and Spotify, you would pay about $40 per month, which would earn you 200 points per month.

2. 3x Points on Food Delivery and Rideshare Services

Point also rewards you with 3 points per dollar spent on these delivery and rideshare services: 

  • Uber
  • Uber Eats
  • Lyft
  • DoorDash
  • Instacart
  • Lime
  • Good Eggs
  • Seamless
  • Caviar
  • GrubHub
  • Postmates
  • MTA
Uber Eats

3. 1x Points Everywhere Else

Point cardholders also earn 1 point for spending on all other eligible purchases, which can be a good deal where there is a discount or no fee for using a debit card instead of a credit card.

4. $99 Annual Fee or $9.99 Per Month

You can keep the Point Neon Debit Card by paying $99 per year or $9.99 per month (with a minimum three-month commitment).

It is an interesting business model to see an annual fee for a debit card, but the impressive rewards structure, broad spending categories, constantly changing promotions, and great card benefits.

5. Special Promotions to Offset the Annual Fee

Point frequently introduces limited-time promotions that significantly multiply your points earnings. 

Point always has 5X points on rotating merchants, including Whole Foods, Amazon,  Costco, Trader Joes, and GoPuff purchases. 

Point also frequently introduces limited-time offers that last anywhere between a single day to a month or two.

Some examples of limited-time offers include: 

  • 20x points on Uber Eats, Delta Air Lines, Southwest Airlines, JetBlue, United Airlines, and American Airlines.
  • 10x points at Target, Airbnb, and Doordash. 
  • 100% rebate (up to $20) at Hulu
  • Streak Bonuses – You can get anywhere from 1,000 to 3,000 points or even more when you consecutively use your debit card for a certain number of days.  
  • 1% cash-back on direct deposits (up to $50 monthly)
  • Bonuses for referring friends
The biggest downside of the special promotions is that they change so frequently that it is hard to track them.

Below is a video of the offers in my account.

Some promotions last only a single day or even a weekend. The app displays them all, but it takes time to scroll and find each offer. They should really add a search feature to make it easier to find.

I’ve frequently found myself using the Point card thinking that I will earn 5x points to only learn later that the promotion expired the day before. Or making a purchase with another card only to discover shortly thereafter that I could have earned 5-20x points at that merchant using the Point debit card.

6. Redeem Points for 1 Cent Each

Points are easy to redeem for cash instantly via the Point app. They never expire, and there’s no limit to how many points you can earn. Each point is valued at $0.01. Redemptions start at only 100 points or $1. 

Simply choose “redeem for cash” on the app and type the amount you want to cash out. The cash-back will immediately reflect on your existing spending balance.

7. FDIC-Insured to Keep Funds Safe

Although Point was started in 2020, your funds are stored with an FDIC bank which provides insurance for your Point account’s funds up to $250,000.


8. Two Free ATM Withdrawals Per Month From Any ATM Worldwide

Cardholders can withdraw from any ATM globally and receive a refund for two withdrawals each month. The maximum fee reimbursement is $8, credited to your Point account in points.

For example, if you incurred $6 in ATM fees, Point will credit your account 600 points (worth $6). 

9. Instant Account Funding up to $300/Month

When the Point debit card first launched, you could fund your account instantly with a debit card without limits.

This was a great feature because I frequently needed to top off my account for a purchase, or I wanted to keep my funds in my interest-bearing checking account.

However, starting May 19, 2022, instant debit card funding is limited to $300 per month.

This means that you will need to start loading a majority of your funds via ACH, which takes a few business days. So be sure to hold some backup funds on the Point card if you need to take advantage of some of the limited-time deals.

10. Virtual Card for Instant Access

Your Point Neon Debit Card comes with a virtual card that you can use to shop in-store and anywhere online. This digital card has its own card number, so you can shop and earn points right away even if your physical card hasn’t arrived yet in the mail.

The Point virtual card is perfect for making online purchases during holiday seasons, and it’s compatible with Apple Pay and Google Pay. 

11. Cell Phone Insurance

Point covers repair or replacement expenses if your phone gets stolen or damaged as long as you pay your monthly phone bill with your debit card. Coverage is $500 per incident with a $50 deductible per loss and a maximum of $1,000 per year.

Credit Card Purchase Protection Broken Phone

12. Purchase Protection

The Point Neon card also comes with insurance for your new eligible purchases that are damaged or stolen within three months of purchase.

Coverage is $1,000 per loss and $25,000 per year, and you must use your Point card for the purchase.

13. Trip Cancellation Insurance

With trip cancellation insurance, you’ll get reimbursement for non-refundable, forfeited, unused payments resulting from a canceled or interrupted trip due to covered reasons. 

Coverage applies to common carrier airfare, up to $2,000 per incident.

For example, if you suffered an injury and the doctor recommended against travel, you could seek reimbursement for non-refundable travel expenses you purchased using the Point Neon Card.

14. Secondary Rental Car Insurance

Secondary rental car insurance pays for physical damage and theft of a rental car if you charge the entire rental fee to your Point Debit Card.

You must decline the collision damage waiver coverage provided by the auto rental company. 

Point’s car rental coverage is secondary, which means: 

  • Any primary collision car insurance that you have must be used up first before Point’s coverage applies. 
  • It becomes the primary insurance in the absence of your own collision insurance. 
  • It doesn’t cover damage to other vehicles, people, or property.
Rental Car Insurance
Photo: Hertz

15. No Foreign Transaction Fees

Point Neon cardholders pay zero foreign transaction fees, saving 3% in fees on international purchases.

Very few debit cards offer no foreign transaction fees, which is a nice perk of the card.

Viva Wyndham Domincius Beach
Photo: Viva Wyndham Domincius Beach

16. Global Travel Assistance

You’ll have access to extensive travel assistance services, including: 

  • Emergency roadside assistance
  • Help with lost or stolen documents
  • Access to a worldwide network of physicians, lawyers, consulates, and embassies 

17. Event Ticket Protection

It can be frustrating when you have to miss your favorite band’s concert because you are too sick to attend.

Fortunately, there is Event Ticket Protection when you pay using your Point card.

If you are unable to attend a concert, theatrical, recreational, or sporting event for a covered reason, Event Ticket Protection will reimburse you up to a maximum of five hundred dollars ($500.00) per covered event ticket, two thousand dollars ($2,000.00) per covered event and four thousand dollars ($4,000.00) annually per eligible account.

18. Extended Warranty

Point adds one extra year to the manufacturer’s warranty of an eligible item paid with your debit card. Coverage is $10,000 per claim and $50,000 per cardmember each year.

For example, if you bought a new laptop with a two year warranty using the Point card, the items warranty would be extended for an additional year to three years.

Items Covered under extended warranty

19. Rideshare Protection

You are covered in the event of an accident in a ridesharing car when you use the Point debit card.

Coverage is up to $300,000 in the very unlikely event of accident, death, or dismemberment and $500 in personal property coverage. 

20. Travel Accident Insurance

Point offers a $1,000,000 coverage in the very unlikely event of accidental death and loss of limbs while traveling in a common carrier.

21. Lockable Card for Extra Security

The Point app lets you lock your card to prevent unwanted purchases, giving you peace of mind when you’re out and about. It immediately notifies you the instant you’re charged, so you know exactly how your Point has been used.

22. Zero Liability for Authorized Charges

If there’s a suspicious, unauthorized transaction, Point will return your funds to your account once you submit a report to Member Services.

Advantages of the Point Debit Card

Point Card’s lucrative earning rates and special points-multiplying promotions make it a worthwhile option for everyday spending.

For example, you could easily earn up to 3,000 points ($30) or more when you make a certain amount of purchases (sometimes $200 minimum) for five days in a row during a limited promotional period. Your points will skyrocket easily if you strategize properly. 

It’s easy to redeem your points for cash at a straightforward value of 1 cent per point, and you’ll immediately see your cash earnings in your Point account balance.

Additionally, funding your Point Card with another debit card is a fast, seamless process, especially when you need immediate funds to take advantage of Point’s limited-time bonuses. 

This debit card also offers a broad range of protections, including trip cancellation, secondary car rental, purchase, cell phone, and travel accident insurance plans. And with FDIC-insured funds, you’ll have peace of mind that your money is safe. 

You can use your Point Card with no foreign transaction fees when traveling abroad, and you can conveniently lock your card to keep it secure against potential unwanted transactions. Plus, there’s a zero-liability assurance for unauthorized charges. 

Overall, the Point Card can be a rewarding card to use for daily spending, especially if you’re looking for a points-earning debit option. 

Disadvantages of the Point Neon Debit Card

The main disadvantage of the Point Card is the annual fee of $99 or $9.99 per month.

You really need to take advantage of Points’ promotions, 5x points on subscriptions, and 3x points on ride-sharing and food delivery to help offset the annual fee. 

If you think it is going to be too much work to take advantage of the promotions, you may want to consider the no annual fee Citi Double Cash card that earns 2% cash back everywhere, or if you want travel protections, the Chase Sapphire Preferred.

The Verdict

The Point Card is a great option if you can take advantage of the frequently rotating limited time promotions to off-set the $99 annual fee.

The Point Card is also great if you are looking for premium benefits in a debit card since its offers trip cancellation insurance, secondary rental car insurance, event protection, no foreign transaction fees, purchase protection, extended warranty, and cell phone insurance.

Point Neon Debit Card
  • Welcome Bonus of 10,000 Points ($100)
  • 5x Points on Streaming Services
  • 5-20X Points During Rotating Promotions
  • 3x Points on Food Delivery and Ride Sharing
  • Two Free Monthly ATM Withdrawals
  • Cell Phone Insurance and Purchase Protection
  • No Foreign Transaction Fees
  • $99 Annual Fee
Learn More