Amp Pay Black Card.
A zero-interest secured Visa credit card where the security deposit never leaves your own Solana wallet and keeps earning yield through DeFi Carrot and Jupiter while it backs your spending. You are not depositing money with a bank — you are pledging on-chain collateral you still control, and the card draws against it at 100% loan-to-value with 0.00% APR.
Pros.
- +0.00% APR on purchases — this is a secured credit card that charges no interest at all, and the disclosures say so explicitly
- +No annual fee and no monthly fee on the Black Card
- +The virtual card is free, and a physical card is available rather than promised
- +No credit check is required, so approval does not touch your credit file
- +Up to 4% cash back on qualifying purchases, per the issuer's own card page
- +USD purchases carry no foreign transaction fee at all
- +Your collateral stays in your own self-custodial Solana wallet — Amp Pay and the issuer explicitly state they never hold custody of it
- +Collateral can keep earning through DeFi Carrot and Jupiter while it backs the card
- +Four stablecoins are accepted as collateral: USDC, PYUSD, USDT and USDS
- +Cards are issued by Third National, a named US issuer, under licence from Visa
- +The issuer publishes separate US and international card terms with an actual fee table, which is rarer than it should be
- +Only the amount needed to settle your obligation is liquidated in a liquidation event — the rest of your collateral stays freely accessible
Cons.
- −Liquidation is brutally fast: if an outstanding payment obligation is not paid in full within one calendar day, a Liquidation Event occurs and your collateral is sold
- −A second liquidation trigger exists — if the market value of your collateral drops below your outstanding charges and you do not add more, you are liquidated regardless of timing
- −Foreign exchange on non-USD purchases runs up to 3%, and a cross-border fee of up to 3% can apply on top
- −Small non-USD transactions carry a flat fee of up to $0.35 on anything under $15, which the terms warn may push your balance negative
- −Penalty fees stack: up to $40 for late payment, up to $29 for a returned payment, and up to $35 as a liquidation penalty
- −Disputing a transaction costs $30, and paying it does not guarantee you get the money back; disputes can take 90 days or longer
- −The collateral requirement is 100% — every dollar you charge must be matched by a dollar of posted collateral, so this gives you no purchasing power you did not already have
- −If your collateral is liquidated below the value of your charges, you still owe the difference
- −No spending limits are published: they are set dynamically by Amp Pay and can be cut to $0 at any time without notice
- −Cash advances and balance transfers are not available under the international terms, so ATM use is effectively out
- −The main Terms of Service state in capitals that the services are 'for entertainment and UI display purposes only', which sits oddly under a real payment product
- −No top-up fee is published anywhere, so the total cost of funding the card cannot be calculated in advance
Detailed fee breakdown.
There is no annual fee, no monthly fee, and 0.00% APR on purchases — the virtual card is free and a physical card is available. USD purchases carry no foreign transaction fee. Everything else is where the money goes: on the international terms, foreign exchange on non-USD purchases runs up to 3%, a cross-border fee of up to 3% can apply on top, and non-USD transactions under $15 carry a flat fee of up to $0.35 that the terms warn can push your balance negative. Penalty fees are up to $40 for a late payment, up to $29 for a returned payment and up to $35 as a liquidation penalty, plus a $30 fee for disputing a transaction. The top-up fee is not published anywhere. The structural risk matters more than any of these numbers: the card is 100% collateralised, and if an outstanding obligation goes unpaid for a single calendar day — or if your collateral's market value falls below your charges — your collateral is liquidated, and you still owe any shortfall.