Crypto Card Cashback Caps 2026: Why a 3% Card Can Pay Less Than a 2% One
TL;DR — Crypto card cashback is almost always capped, and the cap decides the winner far more often than the headline rate does. Ether.fi’s 3% beats Jupiter’s 2% only up to about $3,667 of monthly spend; above that, the uncapped 2% pays more. KAST’s 1.5% falls to 0.30% at $10,000 a month. Bybit’s “2% base” is capped at $5 per month in absolute dollars, so at $10,000 of spend it is worth 0.05% — one fortieth of the advertised number.
Quick answer: decide your monthly card spend first, then read the cap, then read the rate. A card advertised at 3% and a card advertised at 2% can swap places on the same statement. Every figure below comes from the issuer’s own documentation, checked on 26 September 2026.
What This Guide Covers
- Where each headline rate actually stops
- Effective cashback by monthly spend
- The crossover points, calculated
- When the cashback is not paid in cash
- FAQ
The rates below are the official published ones. To check your own spending level against the same table, we keep a calculator on Fat Cat Card’s real cost page.
Where Each Headline Rate Actually Stops
Caps come in two shapes, and the difference matters enormously. A spend cap says “this rate applies to the first $X you spend each month.” An absolute cap says “you will receive at most $Y per month, whatever you spend.” The second kind is much more aggressive, and it is the one that produces the strangest results.
| Card (free / entry tier) | Headline | Cap | Above the cap |
|---|---|---|---|
| Ether.fi Cash (Core) | 3% | Spend cap — first $2,000/mo | 1% on the next $1,000, then 0.5% |
| Jupiter Card | 2% | No monthly cap published | — |
| KAST (Standard) | 1.5% | Spend cap — first $2,000/mo | Nothing (0%) |
| Nexo Card (Base, credit mode) | 0.5% | Flat rate | — |
| TRIA (Virtual) | 1.5% | Spend cap — first $100/mo | 0.5% |
| Bybit Card (Base) | 2% | Absolute cap — $5/mo | Nothing beyond $5 |
From each issuer’s own documentation; links at the foot of this article. Caps reset monthly.
TRIA’s entry tier is worth pausing on. The 1.5% applies to the first $100 of monthly spend — roughly one grocery run. For anyone using the card normally, the rate that actually applies is the 0.5% floor, not the number on the marketing page.
Bybit’s base tier is the clearest case of an absolute cap. The rate is 2%, but the monthly reward is capped at $5. That means the cap binds at $250 of spend. Every dollar after the first $250 earns nothing, so the effective rate collapses as spending rises.
Effective Cashback By Monthly Spend
Applying each cap in order and dividing the total reward by total spend gives the effective rate. This is the number that actually matters, and it is not on any landing page.
| Monthly spend | Ether.fi | Jupiter | KAST | TRIA | Nexo | Bybit |
|---|---|---|---|---|---|---|
| $500 | 3.00% | 2.00% | 1.50% | 0.70% | 0.50% | 1.00% |
| $1,000 | 3.00% | 2.00% | 1.50% | 0.60% | 0.50% | 0.50% |
| $2,000 | 3.00% | 2.00% | 1.50% | 0.55% | 0.50% | 0.25% |
| $3,000 | 2.33% | 2.00% | 1.00% | 0.53% | 0.50% | 0.17% |
| $4,000 | 1.88% | 2.00% | 0.75% | 0.53% | 0.50% | 0.13% |
| $5,000 | 1.60% | 2.00% | 0.60% | 0.52% | 0.50% | 0.10% |
| $10,000 | 1.05% | 2.00% | 0.30% | 0.51% | 0.50% | 0.05% |
Read the KAST column downwards and the whole argument is visible in one line of numbers. The reward stops at $30 and never moves again, because nothing past $2,000 earns. Someone spending $10,000 a month on a card sold as “1.5% cashback” is receiving 0.30% — a fifth of the advertised rate.
The Bybit column is more extreme still. At $10,000 of monthly spend the effective rate is 0.05%, against a headline of 2%. The card is not being misrepresented — the $5 cap is published — but nobody comparing rates in a table would guess that a 2% card can pay less than a 0.5% one. It does so above $1,000 of monthly spend, where Nexo’s flat 0.5% overtakes it.
The Crossover Points, Calculated
Solving for the spend level where two cards produce the same effective rate gives concrete switching points rather than opinions.
| Pair | Crossover | Below it | Above it |
|---|---|---|---|
| Ether.fi 3% vs Jupiter 2% | $3,667 / month | Ether.fi | Jupiter |
| Bybit 2% vs Nexo 0.5% | $1,000 / month | Bybit | Nexo |
| KAST 1.5% vs TRIA (0.5% floor) | $5,800 / month | KAST | TRIA |
That last row is the sentence worth remembering: above roughly $5,800 of monthly spend, a card advertised at 1.5% returns less than one whose rate falls to 0.5% after the first $100. Both headline numbers are the same; the caps decide the outcome.
None of this means the uncapped card is automatically the right pick. Cashback is one line of a larger bill. Jupiter charges 1% or 1.8% on foreign-currency purchases depending on which issuer your country is assigned to, KAST charges 0.5%–1.75% and pays in dollars rather than a token, and Bybit adds a 0.9% conversion plus 2% FX. A cashback gap of half a percent disappears inside a fee difference of one and a half.
When The Cashback Is Not Paid In Cash
Two cards paying “3%” and “1.5%” may not be paying the same kind of money. The settlement asset and the payout schedule both change what the number is worth.
| Card | Paid in | When |
|---|---|---|
| KAST | USD | Locked briefly, then applied against future card spend |
| Ether.fi Cash | ETHFI token | Claimable from $5 |
| Jupiter Card | USDC | Accrued in-app |
| TRIA | USDT on Arbitrum | Quarterly — up to 90 days of settlement lag |
| Bybit | Reward points | Per the rewards programme |
| Nexo | NEXO token (credit mode) | Per transaction |
Ether.fi’s 3% arrives as ETHFI. Valued at the moment it lands, 3% is 3%. Valued when you sell, it is whatever the token is worth then — a 20% drawdown turns 3% into 2.4%, and a rally does the reverse. That is not a criticism of the card, but it is a different product from a card that credits dollars.
TRIA’s schedule is the one most likely to surprise people. Rewards accrue automatically but pay out quarterly, with settlement lag of up to 90 days. Spend in January and the cashback may land in April.
Working Out Your Own Number
The order that produces a correct answer is: fix your monthly spend, check which caps that level crosses, recompute the effective rate above each cap, then subtract the fees that apply to the currency you actually pay in. Comparisons that skip the first three steps are quoting the first $2,000 and calling it the rate.
For a side-by-side of current caps and fee structures across stablecoin cards, we maintain a comparison site at Fat Cat Card’s real cost calculator, with the date each figure was last verified. Disclosure: that site is ours and may contain referral links.
FAQ
Can a 3% cashback card really pay less than a 2% one?
Yes, because of monthly caps. Ether.fi Cash pays 3% only on the first $2,000 of monthly spend, then 1% on the next $1,000 and 0.5% above that. Jupiter Card publishes a flat 2% with no monthly cap in its documentation. The two produce the same effective rate at about $3,667 of monthly spend, and above that the 2% card returns more.
What is the cap on Bybit Card cashback?
The base tier pays 2% but is capped at $5 of rewards per month in absolute terms, so the cap binds at $250 of spend. At $1,000 of monthly spend the effective rate is 0.50%, at $5,000 it is 0.10%, and at $10,000 it is 0.05%. Higher tiers raise the cap substantially.
Does any crypto card have uncapped cashback?
Jupiter Card documents a 2% base rate without stating a monthly cap. That is an absence of a published cap rather than a guarantee of no cap, so confirm it on the application screen and in the terms before planning large spending around it.
Why is TRIA’s effective cashback so much lower than its headline?
The Virtual tier applies 1.5% to the first $100 of monthly spend only, with 0.5% above that. Because $100 is a threshold most users pass within days, the rate that applies in practice is close to 0.5%. At $1,000 of monthly spend the effective rate is 0.60%.
Does it matter what asset the cashback is paid in?
Yes. Ether.fi Cash pays in ETHFI tokens, so the value at the moment you sell may differ from the value when it accrued. KAST pays in US dollars, Jupiter in USDC, TRIA in USDT on Arbitrum with quarterly settlement, and Bybit in reward points.
This article is informational and is not financial advice. Crypto assets can lose value, card issuer terms change without notice, and eligibility varies by country. Check the official page before applying. This page links to a comparison site operated by the author, which may earn a commission on sign-ups.
Related Reading
- KAST Card Cashback Math: What 1.5% Is Really Worth After the Cap and FX
- Ether.fi Cash: What 3% Cashback in ETHFI Is Actually Worth
- Jupiter Card: Why Your Issuer Decides Whether FX Costs 1% or 1.8%
Sources
- ether.fi Support — How cashback works (tier rates and monthly caps)
- ether.fi — Tier comparison (Core, Luxe, Pinnacle, VIP)
- Jupiter Docs — Jupiter Card cashback, fees and supported countries
- KAST Support — Fees and conditions, including tier cashback caps
- TRIA Support — Cashback caps and quarterly settlement
- Bybit Help Center — Card rewards tiers and monthly reward caps
- Nexo — Card cashback rates by loyalty tier
