TOTAL SCAM..
TOTAL SCAM... avoid, avoid, avoid!
First up: I've been with Plutus about 3 years, and to date lost about £4,000 on this ponzi scheme masquerading as a cashback card.
The premise is you buy their token, and holding a certain amount gives you access to rewards... except soon they added monthly subscription models too (30/ month) to be able to get those rewards... except then they massively reduced the spending limits from 20k/month to 1k/month... and then they changed all the tiers and reshuffled... and then a few months later they introduced some other type of con.... and so I thought enough is enough.. but wait.. all that cashback, if I actually want to withdraw it now (which takes a long time is a fraught with delays) I have to PAY 33% IN CASH to withdraw it... yes, that's right, they've slashed every loyal member's cashback by a third, but don't even want it, so they're just taking cash so you can get their worthless tokens... which are dropping by the day... meaning, yes, they have won. All the cashback I've earned over the last few years, they basically get away with not paying, as I'm not giving these scam artists another penny.
STAY AWAY, STAY AWAY, STAY AWAY!!!
Reply from Plutus.it
Hello Alexander,
I’d like to clarify that Plutus has been actively delivering innovative financial solutions for nearly a decade. With a dedicated team of 60+ employees and a growing community of over 125,000 customers, we are committed to providing real value to our users.
We take unfounded claims like these seriously, as they do not reflect the experience of the vast majority of our customers and the services we provide. If there’s been any misunderstanding or specific concern about your account, please don’t hesitate to reach out to our support team so we can address it promptly.
Plutus offers a rewards programme based on real-world spending and loyalty, not speculation or financial investment. +PLUS is a loyalty point, not a tradable asset. It delivers value through discounts, rewards, travel perks, and gift cards that customers can redeem directly.
Plutus operates on a subscription-based model to power one of the most rewarding tokenised loyalty programs available. Our rewards start at 3% back on everyday spending and can go up to 10% for higher tiers, with access to 50+ top brands for £/€10+ in monthly savings, unmatched value you won’t find anywhere else!
Subscriptions enable us to sustain and expand our unique ecosystem while delivering premium benefits such as higher reward caps, multiple perks, and exclusive in-app features like PlutusSwap, PlutusGift, PlutusMiles, and PlutusTravel.
We’ve designed our subscription tiers to provide exceptional value, catering to different needs. If you're looking for a low-cost entry, our Starter plan allows you to experience Plutus with minimal commitment.
As explained on our fees page, rewards payout fees have always been dynamic, depending on factors like Ethereum network gas fees and token usage within the Plutus ecosystem. These fees were part of the system from the beginning, and have been free for a long period, and then adjusted dynamically with GAS and service fees, it’s not something newly introduced. The latest fee would have been shown in the app before you made a payout, so you’ll know the cost upfront.
+PLUS is designed as a utility token, earned through everyday spending and used within the Plutus app for stacking, swapping, or redeeming real-world benefits. From 2025 onward, the in-app value of +PLUS will be directly tied to its utilities, which currently provide a minimum tangible value of £10.
Please note the following points for clarity:
External market conditions do not reflect the true value of +PLUS, as they are driven by trends and do not affect your ability to use +PLUS within the app to redeem for the £10 tangible value offered to all our customers.
We do not influence or make recommendations regarding the external use of +PLUS on third-party platforms and strongly advise against it.
Our founding principle is to let people earn tokenised rewards, reflected in our marketing slogan, 'Don’t buy it, earn it.'
All recent product upgrades were introduced as part of Plutus' long-term vision and were approved by the community through governance votes in August 2024 and April 2025. Each upgrade was clearly communicated with 30+ days’ advance notice, including multiple emails, in-app messages, and social media posts to ensure full visibility.
We urge all customers to read our official communications and reach out directly if they have questions. We are here to resolve real concerns, and we take false claims seriously. If something doesn’t seem right with your account, please contact our support team so we can look into it properly and help clarify any misunderstandings.
Whitepaper Community Votes:
July 2024: https://www.plutus.it/blog/plutus-white-paper-2024-vote-results
April 2025: https://www.plutus.it/blog/new-era-for-stackers-upgrade-to-rare-plu
Terms Update (+30 days notice):
2024: T&C Email sent 3rd Sept 2025
2025: T&C Email sent on 5th Feb 2025