topic Re: VITAL Card in Credit Cards

VITAL Card

mkhan1093 — Wed, 14 Feb 2018 19:07:11 GMT

Hey all,

Didn't see much about this on the forums but saw some videos regarding this on some places. There's a new card out there called VITAL card (https://www.vitalcard.com) which has an interesting model. You can check out the website, but the gist is that it's a no-AF 1% cashback card (:yawn but you get money for referring other people to it, and also for them referring it to other people. The rewards that come with it are regular; you don't have to have new referrals every month to continue earning rewards.

Re: VITAL Card

Anonymous — Wed, 14 Feb 2018 19:17:12 GMT

@mkhan1093wrote:
Hey all,

Didn't see much about this on the forums but saw some videos regarding this on some places. There's a new card out there called VITAL card (https://www.vitalcard.com) which has an interesting model. You can check out the website, but the gist is that it's a no-AF 1% cashback card (:yawn but you get money for referring other people to it, and also for them referring it to other people. The rewards that come with it are regular; you don't have to have new referrals every month to continue earning rewards.

The concept sounds great; however, you are paid out based on the users spending for the month and your score. Realistically, you would not see even close to the amount back each month they are advertising unless some of us on here decided to get together, refer each other like a tree, and vow to throw most of our spending onto this card. You would also need to refer everyone you know to do the same thing.

The examples they provide are calculated based on 100,000 users, $1,500/mo spending, and every user referring four people.

Re: VITAL Card

Blackswizz750 — Wed, 14 Feb 2018 19:27:21 GMT

Sounds like a MLM scheme to me. They won't have to worry about paying out that 1%.

Re: VITAL Card

happypill — Wed, 14 Feb 2018 19:27:28 GMT

Awesome, they're bringing multi-level-marketing (AKA pyramid scheme) to credit cards!

Re: VITAL Card

jlitnns — Wed, 14 Feb 2018 19:28:05 GMT

And this:

Are there any rules around VITAL’s cash rewards?

In order to be eligible and activate your monthly cash rewards, you must spend at least $250 per month. If you spend less than $250 in a given month, you will not receive cash rewards for that month.

Re: VITAL Card

Anonymous — Wed, 14 Feb 2018 19:33:18 GMT

@jlitnnswrote:
And this:

Are there any rules around VITAL’s cash rewards?
In order to be eligible and activate your monthly cash rewards, you must spend at least $250 per month. If you spend less than $250 in a given month, you will not receive cash rewards for that month.

The spending amount is pretty easy to accomplish but I am more concerned with not a single reference to the bank they have partnered with.

Re: VITAL Card

Anonymous — Wed, 14 Feb 2018 19:33:31 GMT

I didnt know Bernie Madoff was able to run a business from prison.
I see they are going for the facebook generation, so happy i quit that too.

Re: VITAL Card

Kree — Wed, 14 Feb 2018 19:52:18 GMT

1% goes to "pool" split by points. So its a 2% card that steals percentage from the newer people.

BRB mathing.

EDIT: Math says that you would need to be in the top 1% of users to get 5% back (assuming everyone spends the same amount. If you only spend 250 and everyone else spends 25,000 you would get 10x the percentage back.)

I think the biggest thing is everyone is gonna spend the 250 minimum and the actual rewards will be dismally small for the bottom 60%, leading to people dropping out and the whole thing breaking apart.

Re: VITAL Card

jlitnns — Wed, 14 Feb 2018 19:42:55 GMT

@Anonymouswrote:
@jlitnnswrote:
And this:

Are there any rules around VITAL’s cash rewards?
In order to be eligible and activate your monthly cash rewards, you must spend at least $250 per month. If you spend less than $250 in a given month, you will not receive cash rewards for that month.
The spending amount is pretty easy to accomplish but I am more concerned with not a single reference to the bank they have partnered with.

Yea $250 isn't much but I'd rather spend that somewhere else and get 2-6% depending on the card. I was mainly referring to those that could potentially sign some people up and then want to sock drawer that card. I don't know just seems like a lot of work to me.

I did notice the same thing I look up and down and couldn't find who the banking partner is.

Re: VITAL Card

Anonymous — Wed, 14 Feb 2018 19:49:58 GMT

@Kreewrote:
1% goes to "pool" split by points. So its a 2% card that steals percentage from the newer people.
BRB mathing.

It's a clever way to position a 2% card. Allows you to build your % points from the bottom referrals.

Re: VITAL Card

MrDisco99 — Wed, 14 Feb 2018 20:24:20 GMT

They should've co-branded this as an Amway card.

Re: VITAL Card

Anonymous — Wed, 14 Feb 2018 20:43:13 GMT

@MrDisco99wrote:
They should've co-branded this as an Amway card.

Might go down as the best comment of 2018

Re: VITAL Card

Aahz — Wed, 14 Feb 2018 21:01:56 GMT

@Anonymouswrote:

The examples they provide are calculated based on 100,000 users, $1,500/mo spending, and every user referring four people.

I don't know how many cardholders the "typical" credit card has, but I did manage to find one card that gave out this number - the Barclaycard Ring. It was released in April of 2012 and two years later still had fewer than 30,000 users (including 14,000 who were forcibly PC'd from another Barclay card).

The odds of this card, from an unidentified bank, getting even 10,000 applicants in two years seems infinitesimally small.