KuCard

VERIFIED 2026-09-27 (pass 2) against KuCoin AU and Immersve documents opened and saved directly (research pack evidence/kucard). REWARDS (binding: KuCard Points Reward Program Terms and Conditions on the KuCoin AU legal page, updated 21 Jul 2026, effective 26 Jul 2026 per clause 1.1; the launch announcement says 16 Jul 2026): the rate is the higher of the KuCoin VIP tier and the monthly spending tier. L0 VIP0 or spend up to 500: 1%, 5 USDC monthly cap. L1 spend over 500: 1.5%, 15. L2 over 1,000: 2%, 30. L3 VIP1-4 or over 3,000: 3%, 60. L4 VIP5-7 or over 7,000: 4%, 90. L5 VIP8-10 or over 15,000: 6%, 135. L6 VIP11-12 or over 30,000: 8%, 200. The tier table is an image in the terms and in the help centre; both images match. A spend tier starts the day after the threshold is crossed and lasts to the end of the next calendar month, so a steady spender earns it on all spend; modelled as requiresStake 1 plus qualifyingMonthlySpend (just above each threshold, since the table's bands start above 500, 1,000 and so on). VIP routes are the cheapest holding in the KuCoin AU VIP table: 1,000 / 40,000 / 70,000 / 100,000 KCS at 7.31 USD (CoinGecko, 27 Sep 2026) = 7,310 / 292,400 / 511,700 / 731,000; trading-volume routes (1M USDT 30-day spot for VIP1) are not modelled. The 8% tier's spend route (over 30,000 a month) is left out because it exceeds the card's 200,000 USDC annual spending limit. AUD EXCLUSION: clause 4.1(i) of the programme terms excludes 'Transactions made with AUD'. The model assumes Australian residents spend AUD, so every plan pays 0% in AU (regionRates AU 0); the tier rates stay as the headline and apply to non-AUD spend. A KuCoin AU blog of 29 Apr 2026 likewise says EUR-denominated transactions did not qualify under the earlier programme. The terms also say 'The earning percentage is 1% for all tiers', which contradicts their own table; the help centre and announcement give 1% to 8%. FEES (help-centre fee schedule, updated 21 Jul 2026): first virtual card free, extra cards 9.99 USDC, no annual fee, transaction fee 0.5%, foreign exchange fee 1% on any purchase not in USDC (the schedule's example includes USD), with a worked AUD 200 example charging 1.5% in total; inactivity fee 2 USDC a month after 90 days idle. Modelled as fx.rate 0.01 with no free region plus fx.conversionRate 0.005, so AU pays 1.5%. The Immersve PDS (1 Apr 2026) lists a 1% transaction fee for Australian merchants and 1.5% for merchants outside Australia, plus a currency conversion fee of unstated size; Immersve's own fee list gives a 1.5% foreign currency fee. A conversion spread applies when paying from crypto other than USDC (size not published); funding with USDC avoids it and the model assumes USDC. RESULT: AU keeps -1.5% at every spend level. REGIONS: Australia only (PDS: 'intended only for persons who reside in Australia'). The EEA Visa KuCard (Wallester AS with UAB EURLITA, EUR, terms effective 18 Oct 2023) required a KuCoin global account; KuCoin's 28 Nov 2025 MiCAR release says EEA users may no longer register or onboard on KuCoin Global, and the KuCoin EU site shows 'KuCard SOON!'. Its global help articles now redirect to the help-centre home. VERIFY: one AUD and one USD purchase to confirm the AUD points exclusion and the 1.5% fee; whether AUD spend counts toward the monthly spending tier.