The Cascade Prepaid Card allows you to build up your cash back rewards based on the spending of your referrals.
As long as you spend $ 350 per month in non-PIN domestic purchases, you’ll be eligible to earn crowdfunded cash back that is based on the average amount of your referral’s spending.
The more friends that you refer, the more cash back that you can earn based on their spending.
Check out the Cascade Card for more details and to reserve your card today, as you must reserve your place first in order to enroll for a card.
How CrowdFunded CashBack Works with the Cascade Card
You are eligible to start receiving your “CrowdFunded CashBack” after your third full month as a cardholder in which you have spent at least $ 350 for each respective month.
In order to be eligible to earn cash back in any given month, you must spend $ 350 in non-PIN domestic purchases within that month.
You’ll then earn cash back based on your “Maximum CrowdFunded CashBack,” which is the average amount that your referral group spends in purchases on their own cards.
If your Maximum CrowdFunded CashBack (the average spend of your referral group) is equal to or exceeds $ 350, then if you spend that exact amount, you’ll receive 100% cash back.
For instance, if the average spend of your referral group is $ 400, and you also spend $ 400 on your card, the you’ll receive $ 400 cash back for a full 100% rebate.
If your Maximum CrowdFunded CashBack is less than $ 350, then you can still earn your cash back by spending $ 350 or more, and you’ll get cash back for the exact amount that your referral group spends.
Your entire “CashBack Crowd” includes 6 generations of referred cardholders, so you also get credit for your referral’s referrals and their subsequent referrals as well.
If this all seems a little complicated, then you can review their FAQs, where they answer any questions that you may have.
Cascade Card Usage and Fees
There are no purchase fees and no minimum balance requirements for the Cascade Card, but there are some fees to consider.
- New Account Fee = $ 6.99
- Companion Card New Account Fee = $ 4.99
- Monthly Service Charge = $ 4.99
- ATM Withdrawal or Bank Teller Cash Withdrawal = $ 1.50
You can load your Cascade Card with cash at participating stores, from a bank with no load fees, via direct deposit with no load few, and via a federal benefits deposit with no load fees.
You can use your Cascade Card everywhere debit MasterCard is accepted.
You can get up to 2 companion cards for your family (minimum age is 13), and you can share funds with anyone else who also has a Cascade Card.
Is the Cascard Card Worth It?
As far as Prepaid Cards go, the fees are not terribly expensive, although there is no way to avoid the monthly fee once you get a card.
However, there is still the unique CrowdFunded CashBack referral program, which does allow you to earn very high cash back rewards, if both you and your referrals spend a lot on purchases with your card each month, as your cash back earned is based on your referral’s spending.
Overall, it’s an interesting crowdfunding concept, and if you plan to spend $ 350 or more on your prepaid card each month, plus you can refer a bunch of your friends, then the potential is there for you to more than make up for your monthly fees through referral earnings.