Anyone hear of Kasheesh?

[NoMoreE46]

Kasheesh is a financial technology company specializing in payment solutions within the fintech sector.  Kasheesh primarily serves individuals looking to manage their finances without the need for traditional loans or credit inquiries.

For a  ( 2% ? ) fee, this company will generate a virtual Mastercard number from any Gift card, Credit card and or  Debit card.

www.kasheesh.co

[DakotaM]

It sounds similar to the ill-fated PayPal Key and Curve card.  The splitting ability and being able to do things like effectively converting an Amex into a Mastercard could be useful.  Could be helpful for signup bonuses.  I wonder if the virtual number is treated like a debit or credit card. Their site doesn't contain much actual information, where'd you see the 2% fee?  

[Bockrocker]

It has rewards now, effectively reducing the fee to 1% or lower depending on total spent per month.

Wouldn't work well for gift cards unless they have changed something, bc the total number of source cards is limited.

Codes as business services which probably doesn't receive better than base rate on your card.

[NoMoreE46]

The 2% fee is a Google guessestimate.  They wont reveal any T&C unless you actually enroll.  (Yes, very annoying.)

I'd figure to ask here for 1st hand experiences. 

You can create a one time use card or keep a static one.  Either is viewed as a credit card.

I forgot about the US version of the Curve card...

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@DakotaM wrote:

It sounds similar to the ill-fated PayPal Key and Curve card.  The splitting ability and being able to do things like effectively converting an Amex into a Mastercard could be useful.  Could be helpful for signup bonuses.  I wonder if the virtual number is treated like a debit or credit card. Their site doesn't contain much actual information, where'd you see the 2% fee?  

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[KatzNDawgs]

Looks like they can take amounts from various card sources to put the additive total on one "new" MC#. So I guess the fee is for the "courtesy" of creating a larger limit on one card from several smaller amounts of other cards?

[FicoMike0]

I don't see the point. Sounds like the kind of thing you can do to get your account closed. I can see the " looks like fraud to us" letter from USB! 

I guess I could pool $50,000 from several cards and then pay 30% interest on a car. Oh, I would get clear title, so I could resell the car without paying it off. I think the banks call that bust out fraud.

[Bockrocker]

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@FicoMike0 wrote:

I don't see the point. Sounds like the kind of thing you can do to get your account closed. I can see the " looks like fraud to us" letter from USB! 

I guess I could pool $50,000 from several cards and then pay 30% interest on a car. Oh, I would get clear title, so I could resell the car without paying it off. I think the banks call that bust out fraud.

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The "intended" point is that you can split a purchase between up to five credit/debit cards.  However there are some other possible uses that some of us have explored:

Obfuscating purchases: i.e. you don't want U.S. Bank to know you are buying from gift cards.com etc.  they only see a charge to kasheesh

Changing card type: The kasheesh card is a MasterCard debit.  If a merchant say, doesn't accept Amex like costco, or charges a fee to credit cards like most rent portals, you can circumvent it by using the kasheesh card

Mobile wallets: it seems hard to imagine but there are still cards out there not supporting mobile wallets (like Citi SYW).  In this case you can add the kasheesh card to mobile wallet with the unsupported card as funding.

We did try to use it to trigger SYW online offers as well but it did not succeed.

Whether the benefits are worth the 1% fee is highly variable.  But the fact that they charge it makes it more likely this product outlives something like PayPal key which didn't.

[FicoMike0]

When I go to costco, I use us b shoppers visa and get 3%.

This should generate some interesting stories.