CL Card (Ledger) vs Phantom Cash Card
Crypto native
Crypto native
Verdict
- CL Card (Ledger) scores higher overall (6.0 vs 3.6 out of 10).
- CL Card (Ledger) is clearly stronger on: Cashback & rewards, Availability, Product features, Credit & financing.
- A full annual cost comparison is not possible yet because some fees are not disclosed or not yet researched.
CL Card (Ledger) is a good fit for
- Users who need credit rather than a debit/prepaid card
Stronger on: Cashback & rewards, Availability, Product features, Credit & financing
Phantom Cash Card is a good fit for
- People who want to keep control of their keys
- Stablecoin holders
★ Our pickEditorial choice · score unchanged · Affiliate link
Neither card is our pick. The card we recommend instead:
Crypto native · ether.fi
Why we recommend it
- 3% cashback in ETHFI on up to $2,000 of spend a monthConditions apply
- 5.35% variable interest on your balanceConditions apply
- No annual or monthly fee on the base tierConditions apply
- Extras on the base tier: airport lounge access, travel / rental car insurance, purchase protectionConditions apply
- Self-custody: funds stay in your own walletConditions apply
Conditions apply; the review lists them with sources.
Score by criterion
| Criterion | CL Card (Ledger) | Phantom Cash Card |
|---|---|---|
| Fees | – | – |
| Cashback & rewards | 24 | 0 |
| Availability | 100 | 3 |
| FX & international | – | – |
| Product features | 70 | 47 |
| Custody & security | 75 | 80 |
| Credit & financing | 75 | 30 |
| Limits & ATM | – | 20 |
| Transparency | 93 | 100 |
| Best for Cashback | 4.6 | 2.3 |
| Best for Travel | n/a | 3.8 |
| Best for Self-Custody | n/a | 5.8 |
| Best for DeFi Users | 6.0 | 4.8 |
| Best for Stablecoins | n/a | 4.9 |
| Best for High Spenders | 4.5 | 2.7 |
| Best for Beginners | 7.1 | 5.0 |
| Best Crypto Credit Card | 6.5 | n/a |
Conditions apply, e.g. only for the base tier, up to a monthly cap or in some countries. Tap a value with * (or hover over it) to see them.
Product
Product status
ActiveShow source
ActiveShow source
Card type
Debit cardShow source
Debit card, Stablecoin cardConditions apply: tap or hover for detailsShow source
Debit card linked to the CASH stablecoin balance of the Phantom Cash account
Network
VisaConditions apply: tap or hover for detailsShow source
Stated for the US card only
VisaShow source
Custody model
CustodialShow source
Self-custodyShow source
Card issuer / program manager
Frozen Time Unipessoal LDA (Crypto Life platform), with partner baanx.com LtdShow source
StripeConditions apply: tap or hover for detailsShow source
Replacement cards and cards activated after 2026-10-05 are Stripe-issued; cards activated before 2026-10-05 without a replacement are Bridge-issued (disputes via Galileo)
Fees
Virtual card fee
FreeConditions apply: tap or hover for detailsShow source
Currency not stated on the page
Other fees & markups
3.49% fee on withdrawals to own bank account · Physical card delivery fee may apply · Replacement card fees may apply · Liquidation fee percentage applied when calculating available balanceShow source
Cashback & rewards
Base cashback
1%Conditions apply: tap or hover for detailsShow source
Calculated monthly on all card spend
Max cashback
2%Conditions apply: tap or hover for detailsShow source
If cashback is paid in BXX (Baanx token)
Cashback paid in
BTC, USDT or BXXShow source
Cashback type
CryptoShow source
NoneConditions apply: tap or hover for detailsShow source
No purchase cashback; Phantom pays variable Cash Rewards on the balance (rate shown in the app)
Cashback conditions
Choose the cashback asset first · Calculated on all monthly card transactions and paid at the end of each monthShow source
Cash Rewards on CASH balances: variable APY set by Phantom, paid weekly, no lock-up · Rewards pause at $1,500 per tax year until tax details are provided · Cash Rewards not available in the US or US-sanctioned jurisdictionsConditions apply: tap or hover for detailsShow source
Cash Rewards is a balance reward funded by Phantom, not purchase cashback; rate shown in the app as APY, paid weekly in CASH, no minimum balance, no lock-ups; rewards pause once total Phantom rewards reach $1,500 in a tax year until US-person status is confirmed or identity verified; not available in the US, where the card is offered
Staking / holding required for top rewards
NoShow source
Reward exclusions
Transactions funded by CryptodraftShow source
Credit & financing
Credit line
YesConditions apply: tap or hover for detailsShow source
Optional; rates depend on country of residence
NoShow source
Credit type
Crypto-backed creditConditions apply: tap or hover for detailsShow source
Optional credit line
Collateral assets
BTC · ETHConditions apply: tap or hover for detailsShow source
Cryptodraft and Stableloan collateral; BXX usable as collateral for stablecoin borrowing (max 10% LTV)
Max loan-to-value
60%Conditions apply: tap or hover for detailsShow source
Cryptodraft
Interest notes
Cryptodraft: first 10% spent interest-free, remaining 50% at 1% monthly percentage rate (MPR); higher interest-free LTV with staked BXXShow source
Liquidation risk
YesConditions apply: tap or hover for detailsShow source
Stableloan when LTV significantly exceeds agreed LTV
Spend own balance directly
YesShow source
YesConditions apply: tap or hover for detailsShow source
Spends the Cash account balance; the account must be funded before paying
Spend by borrowing against collateral
YesConditions apply: tap or hover for detailsShow source
Page only says crypto can be used as collateral; no credit terms given
Availability
Available in
EEA, United Kingdom, United States, Canada, Switzerland, Colombia, Mexico, BrazilConditions apply: tap or hover for detailsShow source
Per Ledger shop FAQ; other Ledger pages list fewer regions
United StatesConditions apply: tap or hover for detailsShow source
Except New York; identity verification required for the card
Account / spend currencies
USDConditions apply: tap or hover for detailsShow source
CASH balance is converted to USD when paying; merchant is paid in USD
Features
Apple Pay
YesShow source
YesShow source
Google Pay
YesShow source
YesShow source
Physical card
YesShow source
NoShow source
Virtual card
YesShow source
YesShow source
ATM withdrawals
YesShow source
NoConditions apply: tap or hover for detailsShow source
ATM withdrawals and cash advances are unsupported merchant categories and are declined
Spend stablecoins
YesConditions apply: tap or hover for detailsShow source
Spends CASH; USDC, USDT and PYUSD on Solana are swapped into CASH
Spendable assets
BTC · ETH · SOL · StablecoinsConditions apply: tap or hover for detailsShow source
Top-up assets ('and more'); converted to fiat at purchase
CASHConditions apply: tap or hover for detailsShow source
Cash account balance (CASH), converted to USD at payment
Blockchains
Bitcoin · Litecoin · XRP · Ethereum · SolanaConditions apply: tap or hover for detailsShow source
Solana only for receiving SOL; Layer 2 networks not supported
SolanaShow source
Limits
Spending limit
$2,000Conditions apply: tap or hover for detailsShow source
Per day; automatic review for $5,000 after 30 days
Security & custody
Regulation / licences
Frozen Time Unipessoal LDA: registered by Banco de Portugal for crypto-asset services · baanx.com Ltd: FCA-authorised for crypto-asset servicesShow source
Annual cost at 1,500 EUR/month
CL Card (Ledger)
- Annual & monthly feesunknown
- FX costsunknown
- Crypto conversion–
- ATM costsunknown
- Cashback+180 EUR
- Net annual valuenot enough data
Phantom Cash Card
- Annual & monthly feesunknown
- FX costsunknown
- Crypto conversion–
- ATM costsunknown
- Cashback+0 EUR
- Net annual valuenot enough data
Assumes 300 EUR foreign spend and 100 EUR ATM per month, base tier only. Use your own numbers