Re: The Craigslist Credit Card
10-09-2012 05:48 AM
The problem with this idea is that Craigslist is ground zero for seller scams, bait-and-switch sellers, and unwarranted buyer remorse by buyers who got a more-than-fair deal.
The chargebacks would kill this card within 90 days.
"wherever lots of cash is changing hands credit is never far behind" may be true in most instances, but there's a reason why black markets tend to be cash economies. ![]()
My Wallet: Amex Zync NPSL (hidden limit > 10k), Barclaycard Apple V $2000, Walmart (Store) $900, BoA Cash Rewards V $500,
Dream Wallet: Amex BCP, Citi Dividend Platinum V , Chase Freedom MC, Chase Sapphire Preferred V, BoA Privileges Cash Rewards VS, UPromise MC, US Bank Cash+ VS, Amex ZYNC, Amex SPG, Amex Platinum, Andrews FCU Global V
Re: The Craigslist Credit Card
10-09-2012 06:26 AM
TheConductor wrote:The problem with this idea is that Craigslist is ground zero for seller scams, bait-and-switch sellers, and unwarranted buyer remorse by buyers who got a more-than-fair deal.
The chargebacks would kill this card within 90 days.
"wherever lots of cash is changing hands credit is never far behind" may be true in most instances, but there's a reason why black markets tend to be cash economies.
you could say the same about eBay and/or Paypal.
Re: The Craigslist Credit Card
10-09-2012 07:38 AM
you could say the same about eBay and/or Paypal.
Much like you could compare a squid to a gorilla. Yes, they're both animals but they are actually quite different.
The way eBay works, there is always a 3rd-party record of the agreed-upon transaction. It's an auction, not a classified ad.
Craigslist is, as you might infer from the name, just a list of offers. The actual agreement and settlement of the transactions happens offline.
That's a much riskier environment to introduce credit issuance into.
My Wallet: Amex Zync NPSL (hidden limit > 10k), Barclaycard Apple V $2000, Walmart (Store) $900, BoA Cash Rewards V $500,
Dream Wallet: Amex BCP, Citi Dividend Platinum V , Chase Freedom MC, Chase Sapphire Preferred V, BoA Privileges Cash Rewards VS, UPromise MC, US Bank Cash+ VS, Amex ZYNC, Amex SPG, Amex Platinum, Andrews FCU Global V
Re: The Craigslist Credit Card
[ Edited ]10-09-2012 09:04 AM - edited 10-09-2012 09:06 AM
Nobody is disputing the fact that the current landscape would never warrant nor foster the introduction of a CL CC. Rather we're pointing out that the implementation of a 'middle man' system would be so easy and so lucrative. Imagine a 'make an offer' button on a CL ad. The seller could either accept, deny or counter the offer. If an agreement is reached the buyer would pay with his CL CC and the funds would be held in limbo until the buyer picks up the item or service. Now granted this is a very rough draft that glazes over many details however for argument's sake I think most of you get the idea.
By the way, the CL CC is a registered trademark of Jlu, all rights reserved ![]()
Re: The Craigslist Credit Card
10-09-2012 01:34 PM
I would have loved an ING Direct credit card...that is until the CAP1 take over...one can still dream. Lol.
FICO scores: 677 (EQ) 664 (EX) 681 (TU) | Goal scores: 750+ (all 3)
Open loans: Hyundai Motor Finance - $12k balance | 60 months @ 4.9% (First Time Buyer 12/2012)
My Wallet: Capital One 1.5k | Macy's 1.0k | Living Spaces 8.5k | Ashley 5.5k | Amazon 2.0k | Discover IT 1.5k | Walmart Discover 1.5k | Chase Freedom 4.5k
