Does anyone use the nexo card? are the payments deducted directly

from the fiat balance or do you have to repay the „credit by payments“ manually?

Hey Tom. When you make a purchase, the amount is automatically deducted from your Available Credit, which is secured by your digital assets, and added to your outstanding loan in USD. The loan interest rate varies depending on your Loyalty tier. You have the flexibility to repay the loan at any time without being bound by monthly installments. You can read all about how the Nexo card works here.

Please, remember that, for now, the Nexo Card is a Credit, not a Debit Card.

Nexo offers customers so many advantages (such as the Nexo Card) compared to other providers that I keep thinking.. ok what's the catch? But I haven't found a catch until today, amazing service :) Love it

I just read the article and have a question to the follow sentences: "Our standard policy of charging additional interest for the repayments made within 30 days of the last loan withdrawal doesn’t apply to loans generated by Nexo Card purchases. This means that if you've only made purchases with your card, i.e., without withdrawing from your Credit Line through the 'Borrow' button, no additional interest for the remainder of the 30-day period will be applied due to early repayment." Does that mean that if I only make card payments (no other loans) and pay back the resulting loan within 30 days, there will be no interest rates to pay?

If you only make card payments (no other loans) there is no problem with the 30 days.

However, you can avoid to pay passive interest only if: 1) You are a Platinum user and 2) Your LTV is < 20%

Even as not-platinum user? I aim to become one but step by step

If you are a non Platinum Customer, you will pay passive interest, based on your Loyalty Level. You can have a look at the table within section Loyalty Benefits of this article. You will find two values: High/Low LTV Interest Rate. 👇 https://support.nexo.com/s/article/nexo-loyalty-program-explained

I believe the "repay without interest rates within 30 days" applies to everyone. That's how I read it from the article. Interest only accrues if you keep the loan longer or take out an additional one to not-platinum user.

It means no additional interest if you repay before 30 days does not apply if you take a loan only using the card. But it is referring to additional interests, indeed. You will have to pay "standard interest", however.

I believe you but as you said, it doesn’t cause additional interest. So if I don‘t have a loan by something else, there shouldn‘t be a interest rate. Let me do a example: I am base user (not platinum). I create loan ONLY by using nexo card. I login every week to repay the loan (no loan longer than 30 days) Is there any interest rate to pay? I would say no 🤷‍♂️ according to the article

You are a bit confused, Tom. Let me try to explain better.

You'll get charged interest. Platinum users have the option to borrol for 0% ARP, if the LTV is below 20%.

You'll get charged interest. Platinum users have the option to borrow for 0% ARP, if the LTV is below 20%.

At first, please have a look at the following article, in particular to section 8. Do Nexo loans have a maturity date? Note: If you repay your loan within 30 days of the last withdrawal, you will be charged interest at the standard rate of 15.9% for the remainder of the 30-day period, regardless of your current Loyalty level. This approach aims to prevent improper use of the Nexo platform, thus safeguarding our clients, investors, and our business. This information is also available on the Credit Line Repayment screen. 👇 https://support.nexo.com/s/article/nexo-loans-faq

THIS additional charge does not apply if you take loans only using the Nexo Card. However, as @AlexNexo properly wrote, you will be charged of passive interest unless: 1) You are a Platinum User and 2) You keep a LTV lower than 20%

I hope this could help, otherwise, please let us know.