Congratulations on the X1 approval.
The boosts are in addition to what you currently earn in points. For example your first 30 days you are earning 4X points so the Boost for using Apple Pay or Google pay moves you up to 5X points. After your first 30 days you will be earning 3X and those boost will earn you 4X. So you get an extra point from whatever your current earning is. My experience has been that I got to use each Boost 3 times so I waited until I had large charges that applied to a specific boost before I used it. The card has been great for me so far and really has replaced most of my other card usage except AMEX Plat for airfare and AMEX Gold for groceries and restaurants.
Enjoy the new card and let us know how it goes.
Okay so after the 4X honeymoon period ends and I'm knocked down to 2X for using this card on the side only, that means the boosts only go up to 3X?
So this card is realistically only a 2.1% cash back card (3X), at best 2.8% if you maintain the $15k spend? Referrals don't last forever (a month), and I mean sure if you shop at one of their partners and are in 4X for a limited time you can realize another 0.7% for an impressive yield—3.5%—but you have to need to shop there first, which I'll be honest, I don't need to shop at many of their botiques. My wife does use Etsy a bunch, I suppose...
I think in a vacuum this card is stupendous. It might have its uses over the current flat "market rate" 1.5-2% cashback cards, but when you combine the likely hassle against say, the AOD Siggy Visa, you really have to work for the benefits.
I think you're right on the money for most but isn't it more 2.1% if you maintain the 15k spend, no? It's 3X as the flat rate if you do 15k, the 2.8% would only be for your referral months.
Agreed with needing to make the benefits work for you, but my favorite part has turned out to be the virtual cards. The app is pretty nice too, but I feel like they need to move the biometrics/login to the opening of the app like literally every other bank I've got.
If you are able to crack the $15k barrier while using just boosts then I *think* you can run 4X for 2.8%, unless the boosts aren't updated retroactively.
If they are, AND you are able to spend $15k on boosts alone then you're at 4X.
Congrats for your approval! Yes, the button activation is self-described and flat points. There is no multipliers except the 2x default multiplier. When you hit $15,000 within a year or 365 days the day you are approved your multiplier would go up to 3x next year for the entire year. I believed I missed out few hundred points (probably 800 points) my purchases. I forgot to activate the button before a purchase few days ago but I activated it after the purchase while the payment was still in pending. Not sure they calculated that and what a waste. Today, I missed it out again for another big purchase. I will try to contact them to see if they would grant me those points. $12200 more to go. So far I haven't received any HP from them yet since I never received any alert from myfico.com or creditkarma.
Yes card usage will make or break their reward program. We fly a lot on the airlines they have as partners so using the points will be easy for us. We spent the $15K so we get 3X for the remainder of the year and the boosts have been nice bonuses for us when we are making large purchases. IF you do not normally shop with their preferred partners than this card would not be as good as other options in my opinion. We won't be taking the cash back so we get the full value of the points to use towards airfare purchases. It is definiately a card where its value is dependant on your organic use of their partners. I hope it ends up working out well for you, for us it has been great so far.
Congrats on your X1 approval