topic Re: X1 Card review :) in Credit Cards

X1 Card review :)

Creditplz — Wed, 03 Nov 2021 07:44:34 GMT

It doesn't have a bonus but today they emailed me a free 5000 points for my recent spending ! cash back is redeemable at .07 cents so 2.8% card. (Unless it's being used to redeem at their partners could be much higher).

2 weeks for the 5000 points to be taken into my account, also I can receive x5 points in my next Apple Pay purchase (one of vendors takes Apple Pay so I'll make sure I max out the card using Apple Pay) !

Re: X1 Card review :)

Matt9543 — Wed, 03 Nov 2021 07:44:59 GMT

@Creditplz wrote:

Whoah! That's an insane amount of rewards in such a short time. Congrats!

Re: X1 Card review :)

Creditplz — Wed, 03 Nov 2021 06:12:24 GMT

Thank you! I forgot to post it without any text in the box! Sorry! But a free 5k points for just using the card in the last week!

Re: X1 Card review :)

Matt9543 — Wed, 03 Nov 2021 06:18:39 GMT

Glad to see you're enjoying it! It appears to me that they've just disabled the viewable waitlist as everytime I try to see my current spot it now just redirects me to the main page. Hoping to get an invite soon!

Re: X1 Card review :)

4sallypat — Wed, 03 Nov 2021 18:18:18 GMT

@Creditplz have you been able to get your friend invite codes working ?

I gave out 1 code and now it says "No Invites Remaining".

I thought we had a total of 3 invites ?

Re: X1 Card review :)

Creditplz — Wed, 03 Nov 2021 17:36:57 GMT

We should? You make sure whoever you gave it to didn't share it?

Re: X1 Card review :)

practical1 — Wed, 03 Nov 2021 18:52:53 GMT

Sounds like you're liking this card. Hoping to recieve the invitation to apply sometime before I die of old age....

Re: X1 Card review :)

simplynoir — Wed, 03 Nov 2021 22:21:21 GMT

Question for the X1 card users since I didn't want to make a topic solely for my question

What are all the redemption options with the rewards for this card? Any that didn't make the list on their website?

Re: X1 Card review :)

micvite — Wed, 03 Nov 2021 23:39:58 GMT

@Creditplz wrote:
It doesn't have a bonus but today they emailed me a free 5000 points for my recent spending ! cash back is redeemable at .07 cents so 2.8% card. (Unless it's being used to redeem at their partners could be much higher).

2 weeks for the 5000 points to be taken into my account, also I can receive x5 points in my next Apple Pay purchase (one of vendors takes Apple Pay so I'll make sure I max out the card using Apple Pay) !

Interesting... I wonder what I'd get with my deposits haha. If I get an invite code is it automatic entry to get the card or does it just bump you up a few spots on the wait list? I just went on the list today so who knows when I'd get the card lol

Re: X1 Card review :)

sammydavidjr — Thu, 04 Nov 2021 14:25:00 GMT

I applied and was approved for the card yesterday.

I have to say this is by far the most seamless application and setup I have ever experienced. I did it on a mobile phone and loved how every detailed had been accounted for. Here are a few examples of how the process was far superior to any other card company I have ever used:
1. My credit reports were frozen. I knew that and was hoping that they would tell me which one they were trying to access. Every other bank would react to the inaccessibility of a credit file with a denial and a letter, or with an invitation to unlock the credit files and start over. X1 had a much better process: the message displayed on the (mobile) web page was something along the lines of "your Experian credit file is frozen - please remove the freeze and click the button below to continue". It was perfect! I took a few minutes to lift the freeze, went back to the application and clicked "try again" to pick up right where I had left off.
2. As part of the application process, I connected my bank account using Plaid -- a commonly used software that allows banks to connect accounts.
3. Received my approval ($30,500 limit off the bat).
4. I was told to expect the card by next Tuesday via Fedex and prompted to setup autopay. That is wonderful! Many banks don't let you set up Autopay until the first statement is in. Or they don't make Autopay obvious to find. What's most impressive is that it took two clicks to set it up: they had saved the bank account information from the application process so I did not have to start anything over. Impeccable user experience.

We'll see how the card works in the long run (clearly many of the perks and benefits aren't here to stay in perpetuity), but it looks like it won't be hard to average >3% back on every purchase for the foreseeable future. As a marketer by trade, I also love how they have all the "boosts" available in the app to engage users. Thank you to Spark Capital, Craft Ventures and the other Venture Capital firms behind this company for footing the bill for the generous rewards structure and amazing UX.

Re: X1 Card review :)

practical1 — Thu, 04 Nov 2021 18:33:18 GMT

@4sallypat

This is worse that apartment hunting in Manhattan, back in the '80's.

Re: X1 Card review :)

cashorcharge — Thu, 04 Nov 2021 20:21:50 GMT

Great write up @sammydavidjr

If everything could be so easy....

I would agree and hope...but that feels like a really big hope...that other banks take some notes here and implement solutions so simple

Re: X1 Card review :)

jdbkiang — Thu, 04 Nov 2021 22:52:33 GMT

Just got the card today as well. I was in the top 1900 when I first got on the waitlist, but not sure how far done I got pushed over time. Instant card number was nice. 27K CL with sub $1000 deposits in both checking/savings, so they must be looking at history, not just existing balances.

Re: X1 Card review :)

micvite — Fri, 05 Nov 2021 12:03:59 GMT

Not to discourage anyone, but was lucky enough to get a code, applied and stated my income as 320k a year (which is a generous under estimate, but it's what I always use so why not). Connected my bank, and they couldn't verify my income. So I had to submit 2 bank statements or pay stubs, since I'm self employed, I obviously went bank statements. (48k in deposits thus month and 52k last month) Now I have a feeling they don't like the fact that all my income is in the form of weekly cash deposits, but we shall see the final result. If this is the case, while they do focus on income over credit, I suppose they still are looking for traditional income sources rather than truly being the "innovative" company they claim to be.

Re: X1 Card review :)

Wavester64 — Fri, 05 Nov 2021 17:00:14 GMT

@jdbkiang wrote:
Just got the card today as well. I was in the top 1900 when I first got on the waitlist, but not sure how far done I got pushed over time. Instant card number was nice. 27K CL with sub $1000 deposits in both checking/savings, so they must be looking at history, not just existing balances.

Curious did you get an invite from being on the waiting list? I think I submitted to be on the waiting list when this was first talked about but never got told it was OK to apply 🤔

Re: X1 Card review :)

Remedios — Fri, 05 Nov 2021 22:21:39 GMT

@micvite wrote:
Not to discourage anyone, but was lucky enough to get a code, applied and stated my income as 320k a year (which is a generous under estimate, but it's what I always use so why not). Connected my bank, and they couldn't verify my income. So I had to submit 2 bank statements or pay stubs, since I'm self employed, I obviously went bank statements. (48k in deposits thus month and 52k last month) Now I have a feeling they don't like the fact that all my income is in the form of weekly cash deposits, but we shall see the final result. If this is the case, while they do focus on income over credit, I suppose they still are looking for traditional income sources rather than truly being the "innovative" company they claim to be.

Interesting.

It just miraculously showed up a few minutes after you posted in this thread, correct?

Re: X1 Card review :)

Creditplz — Fri, 05 Nov 2021 22:59:10 GMT

After using 25k (all my CL) my account is now frozen.... they're doing a review of my account... I paid the balance today since I wanted to get x5 points on apple pay....

let's see what happens next!

Re: X1 Card review :)

jdbkiang — Fri, 05 Nov 2021 23:04:02 GMT

@Remedios wrote:
@micvite wrote:
Not to discourage anyone, but was lucky enough to get a code, applied and stated my income as 320k a year (which is a generous under estimate, but it's what I always use so why not). Connected my bank, and they couldn't verify my income. So I had to submit 2 bank statements or pay stubs, since I'm self employed, I obviously went bank statements. (48k in deposits thus month and 52k last month) Now I have a feeling they don't like the fact that all my income is in the form of weekly cash deposits, but we shall see the final result. If this is the case, while they do focus on income over credit, I suppose they still are looking for traditional income sources rather than truly being the "innovative" company they claim to be.

Interesting.
It just miraculously showed up a few minutes after you posted in this thread, correct?

Oof, bustedddd.

@Wavester64 I was on the waitlist in the 1800-1900 range when I entered. Where are you on the list?

Re: X1 Card review :)

cashorcharge — Fri, 05 Nov 2021 23:00:48 GMT

@Creditplz wrote:
After using 25k (all my CL) my account is now frozen.... they're doing a review of my account... I paid the balance today since I wanted to get x5 points on apple pay....

let's see what happens next!

OUCH! Something tells me they're not used to people cycling their entire credit limit just yet.

Re: X1 Card review :)

Creditplz — Fri, 05 Nov 2021 23:02:48 GMT

I used 25k on apple pay x5 points... so 3.5% CB, I just redeemed $1390 in points and paid the balance... the guy that called me said it would help my review once the payment settled...

im assuming it's a blispay situation where they need the Capital and afraid of balances (which I never carry anyways).