*UPDATE* Blispay No Longer Accepting Applications

[Appleman]

Did Blispay advertise or did word of mouth via the internet get the avalanche of applications rolling in? I had never seen an ad (Think Sofi.com during the Superbowl)

I know, the first I saw of Blispay was when I had just closed the gate to my garden and saw everyone running to the fire on this site (Blispay thread).

Not one to miss out I did apply as I liked the idea. Seemed like a better product for me than my Citi DC.

I think having a contolled burn (limited applications) was a great way to start for Blispay. Get a set of guinea pigs / first adopters like myself and see how the product works. I guarantee they are running over the data closely every day; Who is using the card? At which merchants? Utilization percentages and even seeing if there is the potential for the dreaded M$. Maybe they have learned from some of the previous disasters that have been re-counted on myFICO.

[CYBERSAM]

I think myFICO was the avalanche!

[Anonymous]

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@CYBERSAM wrote:

I think myFICO was the avalanche!

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Could be...

[Anonymous]

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@Appleman wrote:

Did Blispay advertise or did word of mouth via the internet get the avalanche of applications rolling in? I had never seen an ad (Think Sofi.com during the Superbowl)

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I believe it was all just word of mouth. I don't recall hearing about any advertising for it, and one of the first articles I could find online that even mentioned Blispay was from just a week or so ago. So it's like they opened the flood gates, and then shut them a few days later.

[Anonymous]

they announced on facebook ~ https://www.facebook.com/Blispay/ 3/31 post

[Anonymous]

Honestly guys, 

I love the Blispay idea. But because I wanted to support a new company and the idea, I applied. At least I don't have to keep thinking too hard before using this card that gives 2% back only on groceries and the other on restaurants and the other is Amex and they don't accept there etc... Visa is The most widely accepted card and at 2% anywhere makes it a very powerful card!  Add to that if you decided to make any major purchase, it's interest free for 6 months. I support the concept! I truly wish Blispay success!

I started at least 2 companies in my life and if you reach a point when you can't handle the amount of incoming customers before you can catch up, you have to slow down. And that's the responsible thing to do! I wouldn't be too surprised if they started accepting applications again next month. Do you guys remember when last December FNBO offered a 2% back Visa ( Green card) and it was only for a limited time, then they limited what states they would accept application from. And then they stopped that offer.

[Anonymous]

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@Anonymous wrote:

Honestly guys, 

I love the Blispay idea. But because I wanted to support a new company and the idea, I applied. At least I don't have to keep thinking too hard before using this card that gives 2% back only on groceries and the other on restaurants and the other is Amex and they don't accept there etc... Visa is The most widely accepted card and at 2% anywhere makes it a very powerful card!  Add to that if you decided to make any major purchase, it's interest free for 6 months. I support the concept! I truly wish Blispay success!

I started at least 2 companies in my life and if you reach a point when you can't handle the amount of incoming customers before you can catch up, you have to slow down. And that's the responsible thing to do! I wouldn't be too surprised if they started accepting applications again next month. Do you guys remember when last December FNBO offered a 2% back Visa ( Green card) and it was only for a limited time, then they limited what states they would accept application from. And then they stopped that offer.

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Well said. I also like the idea of the card. If this company sustains itself, it has real potential. 

[baller4life]

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@Anonymous wrote:

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@baller4life wrote:
Diners Club stopped taking apps cause they ran out of plastic and haven't reopened them yet. That was a year and a half ago. Let's hope that won't be the case with Blispay.

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That excuse cracks me up. Is plastic some kind of rare commodity? 

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Apparently so Cap! They haven't been back!

[CreditCuriosity]

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@Anonymous wrote:

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@Anonymous wrote:

Honestly guys, 

I love the Blispay idea. But because I wanted to support a new company and the idea, I applied. At least I don't have to keep thinking too hard before using this card that gives 2% back only on groceries and the other on restaurants and the other is Amex and they don't accept there etc... Visa is The most widely accepted card and at 2% anywhere makes it a very powerful card!  Add to that if you decided to make any major purchase, it's interest free for 6 months. I support the concept! I truly wish Blispay success!

I started at least 2 companies in my life and if you reach a point when you can't handle the amount of incoming customers before you can catch up, you have to slow down. And that's the responsible thing to do! I wouldn't be too surprised if they started accepting applications again next month. Do you guys remember when last December FNBO offered a 2% back Visa ( Green card) and it was only for a limited time, then they limited what states they would accept application from. And then they stopped that offer.

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Well said. I also like the idea of the card. If this company sustains itself, it has real potential. 

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Its an awesome concept who doesn't want 2% on anything and free financing on things over 199 for 6 months?  Hey its free money basically right?  I just don't understand their business model the only way this company can possibly make it is if ALOT of people use it for purchases of less than 199$ and carry balances or dp a big purchase and do not pay it off in time being 6 months.. Otherwise it will fail unless I am missing somethng as swipe fees can't substain a 2% card as has been shown.  Citi is 1% and 1% which makes it work and Fidelity Visa probably is somewhat subsidized by Fidelity (although could be wrong on this).

I wish them the best and want the to be a success, but just don't see how it will be one.. Although hey the founder of BML is the founder, maybe he knows something and probably does know something I don't know on how to make any money

[william23]

"On the backend, Blispay partners with a Utah-based bank called First Electronic Bank. When the original purchase goes through, First Electronic Bank pays Visa, which pays the merchant the next day, with both entities taking a small transaction fee.

A few days later, Blispay buys back the loan and bills the customer directly, receiving 100 percent of the purchase price, which is the way they generate revenue. Beyond that, they also receive most of the interest for users who either can’t or don’t wish to pay back the loan in the first six months."

Very interesting...