@Sharingan wrote:Grudge from November aside, what good is a credit card that isn’t functional when you need it to be (and indefinitely)? I don’t collect plastic cards to trade or display. I need them to actually work and serve a purpose. Disdainful, perhaps. Unreasonable, I tend to think not.
I did consider the possibility of an acquisition; but I didn’t want to deal with the frustration that would undoubtedly ensue if the acquisition was anything like the Mercury card debacle I read about in that Barclays thread several months ago. Somehow, I doubt it would be a top tier bank buying the portfolio, and getting ahead of such a possibility also contributed to my decision to close Blispay as soon as possible.
Sharigan you act as though it is the only CC you had.😂
What good is it to close a CC that had some use, and may reopen?
I never had a single issue out of this card when I used it. I just don't see the need to jump the gun and close a card that was useful. Especially if no one here knows for sure if it is going away or not. Do what makes you feel better.
Haven't heard or seen anything.
I would think there would be an update by now.
Has anyone had luck calling them lately?
When a company isn't looking for new business, that means it's a goner.
I'm sure they're just winding down, paying off what they owe.
They are probably hoping for a new capital infusion, but you can't just borrow from Peter to pay Paul. They need to have a viable business model, which they never had. Venture capitalists are kind of mean, but they aren't dumb.
Giving 2% cash back (thus giving up the transaction-based profit) and lending for 6 months at 0% interest (thus giving up the interest-based profit) in the hope that your most financially distressed (and therefore most likely to default) customers will get stuck paying you high rates of interest down the road.... what could possibly go wrong?
@SouthJamaica wrote:When a company isn't looking for new business, that means it's a goner.
I'm sure they're just winding down, paying off what they owe.
They are probably hoping for a new capital infusion, but you can't just borrow from Peter to pay Paul. They need to have a viable business model, which they never had. Venture capitalists are kind of mean, but they aren't dumb.
Giving 2% cash back (thus giving up the transaction-based profit) and lending for 6 months at 0% interest (thus giving up the interest-based profit) in the hope that your most financially distressed (and therefore most likely to default) customers will get stuck paying you high rates of interest down the road.... what could possibly go wrong?
Everyone either PIF at statement, or PIF before the 6 mo is up, thats what went wrong, lol.. Id bet also that the majority of the customer base is myficoer's, and we arent dumb