Neon Money Club Cream American Express approved for pre-order

[youngandcreditwrthy]

not only is it  a super trendy looking "nude" or "cream" card, but it is gorgeous.. and yeah most folks dont even put 3% in their company matched 401k. That 3% could turn into 12% esp if you keep it and use it over a decade or two or five lol.

I think I actually remember maybe you posted about it before @12njoy  or there was one post a lonnnnnggg time ago that someone made about it. 

How did you find out about the card though?

[SouthJamaica]

I'm not sure I get why it's worth a $128 annual fee.

[ptatohed]

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@SouthJamaica wrote:

I'm not sure I get why it's worth a $128 annual fee.

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I completely agree with you but it may pencil out for high(er) non-cat spenders.  This of course, assumes a point is worth a penny and there are no caps.  If I am assuming correctly, this is essential a 3% card, earning 1.5x and then 2 times that at 3x when you deposit your points into stocks (which I am going to just call as good as cash for this discussion - some may say it's better than cash since you are investing, some may say it's not as good as cash since you can't choose what to do with it).  So, $128 for a 3% CB card.  My family easily spends $2500/mo with our AOD on non-cat (bills, insurances, retail, etc.).  That's $30,000 spend per year.  With AOD, we get $900 CB, at full 3% (obviously).  With this Neon card, the same exact spend would yield:  $900 - $128 = $772.  $772/$30,000 = 2.57% CB.  That's right up their with the best of any current offerings (say, Alliant 2.5% and BoA Unlimited Cash Rewards + Plat Honors 2.62%).

Spend more than $30k/yr and that 2.57% CB rises.  Also, not enough information but there seems to be ways to earn additional 'points' throughout the year, possibly increasing the CB %.

I'm pretty much team No-AF but I just thought I'd throw out a point of view (somewhat) defending the steep AF. 

[UH_HUH]

Congratulations on your new card

@12njoy 

Looks like a winner to me 👍

Thanks for the great read

Enjoy your new card,

Cheers

[KingRue8500]

Congrats on your Neon Money Club Cream AMEX approval

[woodyman100]

I was intrigued by the Neon money Cream card.

I "Successfully preordered" the card. 
Now I'm really interested 

[GhostCredit]

Looks like the apple card, for $128. You got to spend $8533 just to breakeven, even then I don't see the point of this. Not really into fintech companies... Although, Uber was once a fintech but now they're global...

[keluric]

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@12njoy wrote:

Found a little information about the card.  It's like an Amex charge card so I'm probably not going to accept offer when it comes.  

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Where did you find the information about it being a charge card?  Thanks.

[keluric]

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@youngandcreditwrthy wrote:

what in the lord's name.. where did you find this gem of a name of a card?

why'd you pick it? boy that name is a mouthful.. cream, neon.. where are my glowsticks and glitter! hahaha Goood luck :-)

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The name of the card gets even better when you realize it's a nod to Wu-Tang.

[keluric]

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@keluric wrote:

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@12njoy wrote:

Found a little information about the card.  It's like an Amex charge card so I'm probably not going to accept offer when it comes.  

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Where did you find the information about it being a charge card?  Thanks.

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For anyone wondering:  

The perks won’t stop there, Bailey [Neon Money Club co-founder] also reveals cardholders won’t have to worry about getting caught in a debt cycle. “So the way that most banks make money is off of people revolving and paying interest,” Bailey told AFROTECH. “So, what we said was one we don’t want people to revolve. We want you to keep your credit score good, and we don’t want to make money off interest because we don’t want to trap people in a debt cycle…So, you’re not getting charged interest. You’re not carrying a balance and you’re not affecting or impacting your credit score.”