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MCO Crypto Visa Card (Strictly no referral!)

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Old 15-05-2019, 08:27 PM   #1
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MCO Crypto Visa Card (Strictly no referral!)

Anyone have been using the card so far? How is your experience?
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Old 16-05-2019, 07:06 PM   #2
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it is like a debit card but have to topup before use like singtel dash. but some sites (like qoo10) that use 3D Secure(3DS) will failed (those site that send you sms for code to enter).
and seem mrt topup (try once after one min it said transaction failed) also failed not sure why.
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Old 16-05-2019, 07:32 PM   #3
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so far so good....but transferwise admin fee + spread mean you lose around 1.2-1.5%. so a 3% tier cash becomes 1.5%. will be good if they have direct SGD top up

Hence i hardly use this card except for overseas spending (interbank rate) and govt related spending (since most Local credit Card exclude such transactions from rewards)
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Old 16-05-2019, 11:54 PM   #4
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How’s the rebate for spotify and netflix? Just applied and waiting for jade, managed to catch a lower (i think) price for mco lock in...
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Old 17-05-2019, 09:21 AM   #5
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it is like a debit card but have to topup before use like singtel dash. but some sites (like qoo10) that use 3D Secure(3DS) will failed (those site that send you sms for code to enter).
and seem mrt topup (try once after one min it said transaction failed) also failed not sure why.
Will need to use PayPal for qoo10 if it's applicable.

You can top up ezlink via nfc thru the phone app.
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Old 17-05-2019, 09:28 AM   #6
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How’s the rebate for spotify and netflix? Just applied and waiting for jade, managed to catch a lower (i think) price for mco lock in...
Instant rebate but in MCO. Remember to enable international usage before keying in your card details into Spotify/Netflix. I think the rebate covers up to 12.99usd for Netflix and usd 9.99 for Spotify. This easily covers Netflix Premium and Spotify Premium. If u top up about a dollar more for spotify you can get Spotify family which gives 5 accounts. For using the card, an additional rebate of 2% to 5% depending on which card u locked will be given as well.
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Old 17-05-2019, 01:31 PM   #7
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how do y'all usually convert to sgd for card spending? since there is a spread loss
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Old 18-05-2019, 09:44 AM   #8
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Transferwise so far still my choice for the best rates at a decent speed. Most say its about a 1-1.5% spread loss.

Buy the crypto during dips and sell for fiat when its on the rise, and usually you can cover the spread loss easily.

The trick is to give yourself time esp if you anticipate you'll be spending large amounts e.g. big purchases or holidays, so that you can buy the dips

It's a good card for overseas spending as it gives you interbank rates (google rates) with cashback
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Old 18-05-2019, 09:59 AM   #9
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Here's the telegram group posted in the previous thread as well

https://t.me/Crypto_MCO_SG_Unofficial/
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Old 28-05-2019, 11:07 PM   #10
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what do you guys usually use this card for?

grocery shopping? misc purchases..?
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Old 29-05-2019, 08:41 AM   #11
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Transferwise so far still my choice for the best rates at a decent speed. Most say its about a 1-1.5% spread loss.

Buy the crypto during dips and sell for fiat when its on the rise, and usually you can cover the spread loss easily.

The trick is to give yourself time esp if you anticipate you'll be spending large amounts e.g. big purchases or holidays, so that you can buy the dips

It's a good card for overseas spending as it gives you interbank rates (google rates) with cashback
so far so good....but transferwise admin fee + spread mean you lose around 1.2-1.5%. so a 3% tier cash becomes 1.5%. will be good if they have direct SGD top up

Hence i hardly use this card except for overseas spending (interbank rate) and govt related spending (since most Local credit Card exclude such transactions from rewards)
which tier card did u guys get?
is the staked MCO worth it? , imean to stake 50k or 5K MCO is no small sum.
more than annual fee of normal card
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Old 29-05-2019, 11:25 AM   #12
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You can use it for transactions where you traditionally do not get any cashback or miles.

No merchants are excluded from cashback for this card.

I'm using it as my general spend because I'm lazy to keep track of the changing merchant codes and minimum spend of each card.

This card is not for everyone. If you're truly looking at it from a cashback point of view, you can go suss out the cashback categories for each card and spend accordingly.

The cashback for MCO comes back in the form of MCO - their current token.

If the cashback is $10, and each MCO is worth $5, you'll get 2 MCO as "cash" back

You can sell the MCO back to cash immediately or you can choose to keep it as MCO and let it increase in value and sell later. So the true cashback maybe even higher.

Of course, MCO can decrease in value as well. So its a risk you take if you keep it as MCO
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Old 29-05-2019, 11:45 AM   #13
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can you use the MCO cashback to offset nx mth bill?

also , for transfering the cash out to your SGD acct. is there any fees on MCO side?
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Old 29-05-2019, 11:47 AM   #14
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which tier card did u guys get?
is the staked MCO worth it? , imean to stake 50k or 5K MCO is no small sum.
more than annual fee of normal card
I've got Icy. 5K MCO is not a small sum but I've got in cheaper when MCO was about $3 in Feb.

You can't compare it to annual fees because of 3 things

1) Staking means you're locking down the MCO, but the money is still yours. You have to keep it locked up for a minimum of 6 MONTHS. After which you can choose to unlock it, but you lose some card benefits. Think of it more as a fixed deposit account. Usually higher tier cards with annual fees are not waivable, so you do lose the annual fees but get some miles in return.

2) MCO value - so far if you look at the charts MCO has been on the rise with Singapore being the only country having live cards. MCO is about $9 now. When the rest of APAC become eligible for cards, the MCO demand and value should rise. Of course it can tank as well, so your mileage may vary.

3) CRO - Holding onto MCO within the app gives you another token called CRO monthly. 1 MCO gives you about 5 CRO monthly for the next about 5 years. EACH CRO is worth about $ 0.10 now. The CRO given is locked for a 12 months, and can only be sold after the 12 months are up. What the value of CRO then will be then is anyone's guess.

You can try this ROI calculator

https://www.crypto-knowledge.net/cryptocom-cards/

Last edited by wescgw; 29-05-2019 at 12:07 PM..
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Old 29-05-2019, 12:04 PM   #15
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can you use the MCO cashback to offset nx mth bill?

also , for transfering the cash out to your SGD acct. is there any fees on MCO side?
It's a prepaid debit card, so no monthly bill involved.

You can withdraw cash at atm5 network ATMs up to a certain limit without fees. Depending on your card tier.

To transfer money to bank accounts you'll need to transfer your crypto to an exchange and withdraw it - fees involved for sending it to the exchange (its 0.5MCO for now), and for withdrawing from exchange
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