topic Re: BlockFi Preapproval in Credit Card Applications

BlockFi Preapproval

DaWhole9 — Fri, 15 Apr 2022 05:56:51 GMT

Not sure if I will take it, but I have a BlockFi Preapproval SL of $9,000 and interest rate of 17%. I have a TU of 802 EQ 813. UTIL is under 1%. 3 HPs. 2 new cards in the last 3 months. 8 cards total.

Re: BlockFi Preapproval

FinStar — Fri, 15 Apr 2022 06:15:23 GMT

Since you have not accepted the offer, it's not an approval and therefore placed in the appropriate forum area.

If on the fence, what would you use this card for? Are you looking to maximize your Crypto rewards/position?

Re: BlockFi Preapproval

Hoben02 — Fri, 15 Apr 2022 09:39:51 GMT

Well right now you want to take advantage of the max rewards you can get in the first 90 days at 3.5% in my case it was close to 5k in spend.

Re: BlockFi Preapproval

MrT_521 — Fri, 15 Apr 2022 12:32:03 GMT

@Hoben02 wrote:
Well right now you want to take advantage of the max rewards you can get in the first 90 days at 3.5% in my case it was close to 5k in spend.

The BlockFi card's SUB is just this. It is an extra $100 for $5k spend, which is 2%. I got this card in August 2021. I maxed out the extra 2% rewards to maximize the SUB. I had intended to use it as a catch all daily driver, but with BlockFi's recent changes to their interest accounts, I quit. I might use it again (as a catch all) if they get their regulatory issues resolved and resume normal operations.