topic Re: Neon Money Club Cream American Express approved for pre-order in Credit Card Approvals

Neon Money Club Cream American Express approved for pre-order

12njoy — Sat, 27 Jan 2024 15:47:18 GMT

Finally found an EQ puller. Has anyone heard or had experience with this apparently new start up between Neon Money Club and Evolve? It starts with a soft pull and then when you accept you'll get the HP. It does come with a $128 AF which is ok for me if the limit is decent. There's just no info out there about this card. Reminds me of the process with the X1 card so I'm hoping it has decent limits like X1 but only time will tell.

Neon.jpg

Re: Neon Money Club Cream American Express approved for pre-order

12njoy — Sat, 27 Jan 2024 16:14:40 GMT

Found a little information about the card. It's like an Amex charge card so I'm probably not going to accept offer when it comes.

Re: Neon Money Club Cream American Express approved for pre-order

youngandcreditwrthy — Sat, 27 Jan 2024 17:45:08 GMT

what in the lord's name.. where did you find this gem of a name of a card?

why'd you pick it? boy that name is a mouthful.. cream, neon.. where are my glowsticks and glitter! hahaha Goood luck :-)

Re: Neon Money Club Cream American Express approved for pre-order

NoMoreDebt — Sat, 27 Jan 2024 18:13:40 GMT

congrats on the approval

Re: Neon Money Club Cream American Express approved for pre-order

GZG — Sat, 27 Jan 2024 20:17:22 GMT

$13k spend before it beats out a 2% card?

beautiful card though, I want it

congrats!!

Re: Neon Money Club Cream American Express approved for pre-order

CorpCrMgr1 — Sat, 27 Jan 2024 21:53:22 GMT

Congratulations! Hope the card works out for you.

Re: Neon Money Club Cream American Express approved for pre-order

nytokyobred79 — Sat, 27 Jan 2024 23:36:36 GMT

Congrats on the approval. Never heard of this product.

Re: Neon Money Club Cream American Express approved for pre-order

ptatohed — Sun, 28 Jan 2024 01:50:58 GMT

Curious why you applied for a card you can't find much info on?

I read this.

https://www.americanexpress.com/en-us/newsroom/articles/products-and-services/neon-money-club-introduces-cream-card-on-amex-network-.html

I don't understand everything (like the forming crews?) but it looks like 1.5 points per dollar (no definition of what a point is) and you get double redemption (3 points?) when you invest in stocks. If a point is a penny, that's a nice 3%.

OP mentioned there is an AF. I couldn't find that.

Ah, ok, I see the $128 AF here, hidden in the FAQs: https://joinneon.com/

Re: Neon Money Club Cream American Express approved for pre-order

12njoy — Sun, 28 Jan 2024 02:08:08 GMT

@ptatohed wrote:
Curious why you applied for a card you can't find much info on?

I read this.
https://www.americanexpress.com/en-us/newsroom/articles/products-and-services/neon-money-club-introduces-cream-card-on-amex-network-.html

I don't understand everything (like the forming crews?) but it looks like 1.5 points per dollar (no definition of what a point is) and you get double redemption (3 points?) when you invest in stocks. If a point is a penny, that's a nice 3%.

OP mentioned there is an AF. I couldn't find that.

Ah, ok, I see the $128 AF here, hidden in the FAQs:  https://joinneon.com/

I applied for preapproval based on the fact it was no HP and I could decide whether to accept offer and then accept HP. I knew enough about the card: 1. Partnership with American Express and Evolve. That legit enough for me and therefore enough for me to apply for preapproval with the expectation of more information before accepting offer and HP. This was in no way applying for a card with zero information.

Re: Neon Money Club Cream American Express approved for pre-order

Matt9543 — Sun, 28 Jan 2024 02:47:11 GMT

@12njoy wrote:
Finally found an EQ puller. Has anyone heard or had experience with this apparently new start up between Neon Money Club and Evolve? It starts with a soft pull and then when you accept you'll get the HP. It does come with a $128 AF which is ok for me if the limit is decent. There's just no info out there about this card. Reminds me of the process with the X1 card so I'm hoping it has decent limits like X1 but only time will tell.
Neon.jpg

I've also applied to this for pre-approval, but a few weeks later received a notice that my card was in production, so unsure if that meant the card in general or mine specifically since they stated "your"

Re: Neon Money Club Cream American Express approved for pre-order

youngandcreditwrthy — Mon, 29 Jan 2024 01:18:11 GMT

not only is it a super trendy looking "nude" or "cream" card, but it is gorgeous.. and yeah most folks dont even put 3% in their company matched 401k. That 3% could turn into 12% esp if you keep it and use it over a decade or two or five lol.

I think I actually remember maybe you posted about it before @12njoy or there was one post a lonnnnnggg time ago that someone made about it.

How did you find out about the card though?

Re: Neon Money Club Cream American Express approved for pre-order

SouthJamaica — Mon, 29 Jan 2024 05:41:38 GMT

I'm not sure I get why it's worth a $128 annual fee.

Re: Neon Money Club Cream American Express approved for pre-order

ptatohed — Mon, 29 Jan 2024 07:02:19 GMT

@SouthJamaica wrote:
I'm not sure I get why it's worth a $128 annual fee.

I completely agree with you but it may pencil out for high(er) non-cat spenders. This of course, assumes a point is worth a penny and there are no caps. If I am assuming correctly, this is essential a 3% card, earning 1.5x and then 2 times that at 3x when you deposit your points into stocks (which I am going to just call as good as cash for this discussion - some may say it's better than cash since you are investing, some may say it's not as good as cash since you can't choose what to do with it). So, $128 for a 3% CB card. My family easily spends $2500/mo with our AOD on non-cat (bills, insurances, retail, etc.). That's $30,000 spend per year. With AOD, we get $900 CB, at full 3% (obviously). With this Neon card, the same exact spend would yield: $900 - $128 = $772. $772/$30,000 = 2.57% CB. That's right up their with the best of any current offerings (say, Alliant 2.5% and BoA Unlimited Cash Rewards + Plat Honors 2.62%).

Spend more than $30k/yr and that 2.57% CB rises. Also, not enough information but there seems to be ways to earn additional 'points' throughout the year, possibly increasing the CB %.

I'm pretty much team No-AF but I just thought I'd throw out a point of view (somewhat) defending the steep AF.

Re: Neon Money Club Cream American Express approved for pre-order

UH_HUH — Mon, 29 Jan 2024 13:50:22 GMT

Congratulations on your new card

@12njoy

Looks like a winner to me 👍

Thanks for the great read

Enjoy your new card,

Cheers

Re: Neon Money Club Cream American Express approved for pre-order

KingRue8500 — Tue, 30 Jan 2024 01:50:53 GMT

Congrats on your Neon Money Club Cream AMEX approval

Re: Neon Money Club Cream American Express approved for pre-order

woodyman100 — Wed, 31 Jan 2024 01:46:18 GMT

I was intrigued by the Neon money Cream card.

I "Successfully preordered" the card.
Now I'm really interested

Re: Neon Money Club Cream American Express approved for pre-order

GhostCredit — Wed, 07 Feb 2024 04:51:22 GMT

Looks like the apple card, for $128. You got to spend $8533 just to breakeven, even then I don't see the point of this. Not really into fintech companies... Although, Uber was once a fintech but now they're global...

Re: Neon Money Club Cream American Express approved for pre-order

keluric — Thu, 15 Feb 2024 03:12:36 GMT

@12njoy wrote:
Found a little information about the card. It's like an Amex charge card so I'm probably not going to accept offer when it comes.

Where did you find the information about it being a charge card? Thanks.

Re: Neon Money Club Cream American Express approved for pre-order

keluric — Thu, 15 Feb 2024 03:13:37 GMT

@youngandcreditwrthy wrote:
what in the lord's name.. where did you find this gem of a name of a card?

why'd you pick it? boy that name is a mouthful.. cream, neon.. where are my glowsticks and glitter! hahaha Goood luck :-)

The name of the card gets even better when you realize it's a nod to Wu-Tang.

Re: Neon Money Club Cream American Express approved for pre-order

keluric — Thu, 15 Feb 2024 03:33:48 GMT

@keluric wrote:
@12njoy wrote:
Found a little information about the card. It's like an Amex charge card so I'm probably not going to accept offer when it comes.
Where did you find the information about it being a charge card? Thanks.

For anyone wondering:

The perks won’t stop there, Bailey [Neon Money Club co-founder] also reveals cardholders won’t have to worry about getting caught in a debt cycle. “So the way that most banks make money is off of people revolving and paying interest,” Bailey told AFROTECH. “So, what we said was one we don’t want people to revolve. We want you to keep your credit score good, and we don’t want to make money off interest because we don’t want to trap people in a debt cycle…So, you’re not getting charged interest. You’re not carrying a balance and you’re not affecting or impacting your credit score.”