As a holder of the Chase Sapphire Reserve (CSR) card since their 100,000 point bonus days I have been taking advantage of airport lounges for a few years now. The luxury of airport lounges really helps take the edge off of flying. Spending hours on end in airport terminals can be draining. A few refreshments, a cocktail, and maybe even a hot shower can make a long day of travel easier to bare.
When I first found out Chase was going in the same direction as other credit card companies and raising their annual fees for their premium credit cards, I really had to think if I was getting the best deal. $450 a year for lounge access was steep to begin with. Now the CSR card is going to cost $550 per year. What’s to say in time it won’t go to $650 or $750 a year?
After looking around I found a much better deal. Like a really good deal. Like lounge access for free good.
This deal is free but that doesn’t mean you don’t need money to get it. It requires an investment, so you’ll have to lock up some of your money to take advantage of this deal, but if you decide you want the money more than the perks, you can withdraw that money at any time.
Crypto.com is a platform for cryptocurrency. In addition to lending and exchange services, Crypto.com offers debit cards with some really great perks. The one perk in particular that excites me is a free LoungeKey account.
LoungeKey is very similar to Priority Pass. The latter being the service travel hackers are most familiar with. Both offer access to a global network of lounges. While Priority Pass does offer more locations, I’d argue the difference is marginal.
The biggest difference between a Crypto.com LoungeKey account and a CSR Priority Pass account is guest access. With the CSR account, you can bring a number of guests to a lounge.
With the Crypto.com account you can not.
I rarely took advantage of the guest perk, and I have heard quite often guests being refused access when lounges are at capacity. In my opinion, the guest access is not a huge benefit. I’d rather help friends get setup on their own accounts anyway.
I mentioned before to get this perk you need to make an investment. To keep it simple, you need to maintain a minimum balance in your Crypto.com account of about $2500 USD.
Well technically not USD. Actually MCO. MCO is the cryto token created by Crypto.com. At the time of this post, MCO is trading for about $5 USD. You need to maintain a balance of 500 MCO to be eligible for one of Crypto.com’s “Composite Metal” cards. These metal cards include the LoungeKey perk.
Crypto.com cards have no annual fee.
The only requirement to maintain your account is at the “metal” level is to keep that minimum balance. While these cards are debit cards, they offer a lot of benefits like 3% rewards on spending just like a premium credit card.
The only catch is you need to decide if you believe in cryptocurrency industry. Do you think your money is safe being held by this company in their MCO token. The argument for or against crypto is beyond this article. You have to do your own research.
I personally have begun to invest in the industry and this card is just another way to do it with some great perks thrown in.
To learn more, check out Crypto.com’s website.