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Blispay Suspending future purchases

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Super Contributor

Re: Blispay suspending all service (lending)

I'm assuming Blispay will be going away.  They are my #1 (only, actually) regret card obtained during my rebuild.  I wasn't happy with the CL and since there was zero chance to ever have it increased, the card found a comfy place in my SD over 2 years ago.  It's always something negative with them.  Poor CS.  Still denying applicants after 2.5 years for "failure to verify identity."  Today has got to be the worst, though. 

 

All good for me if they end up closing down the card; my ACL will increase by about $3k with my only sub-5-figure limit being eliminated.

 

 

Message 91 of 459
Valued Member

Re: Blispay suspending all service (lending)

I hear you. I actually used mine quite a bit despite the terrible CL of $2800. Any big purchase I made I put it on and paid it off before the 0% expired. I’ll miss it and plan to find a suitable replacement 2% card after I close on my house in January.
Message 92 of 459
Moderator Emeritus

Re: Blispay Suspending future purchases


@UncleB wrote:

@CreditCuriosity wrote:

Sad since: Nov 2018


smiley-laughing021.gif


Now ... now ... don't take it so hard Smiley Sad Remember the Oregon Beaver Card and more as one of the other posters mentioned. Since I don't chase the flavor of the month, I can only sit back and observe the pain Smiley Frustrated

Starting Score: 000
Current Score: 850
Goal Score: 850


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Message 93 of 459
Moderator

Re: Blispay Suspending future purchases


@Dinosaur wrote:

@UncleB wrote:

@CreditCuriosity wrote:

Sad since: Nov 2018


smiley-laughing021.gif


Now ... now ... don't take it so hard Smiley Sad Remember the Oregon Beaver Card and more as one of the other posters mentioned. Since I don't chase the flavor of the month, I can only sit back and observe the pain Smiley Frustrated


LOL... yeah, I know it could have been worse.

 

For many of us this was a card to use for the promo financing (and otherwise SD'ed) and most of us have other options, but for people who were depending on it for the holidays it's rather disappointing. 

 

IMHO it would have been better for Blispay to have pulled the plug a month ago than to wait until the day before Thanksgiving; at least then people would have had time to make other arrangements.

Message 94 of 459
Senior Contributor

Re: Blispay suspending all service (lending)


@UncleB wrote:

@DaveInAZ wrote:

@core wrote:

@JamP wrote:
The firestorm is just starting on Twitter and Facebook.

Actually I am surprised how quiet it is out there still.  I can only locate a couple handfuls of posts on Twitter and half of them are mine.  I feel sorry for all the merchants that were affected by this.  I would be livid if I spent I.T. time and money integrating Blispay into my business and then had the rug pulled out from under me.  I would be even more ticked if I had just spoken with my Blispay account manager on the phone and she basically lied by omission.  Right to my face, when they KNEW this was coming.

 


I'm not following how this would be bad for merchants - for the vast majority of businesses they incure the same swipe fee and payment processing whether the card was issued my Blispay or Capital One, Citi, Chase. etc., and the vast majority of customers who were planning on using a Blispay card will just use one issued by the other guys.


Blispay provided an instant account number so purchases could be made immediately upon approval (you can access the full account number, exp date, and CVV using the app). 

 

It was an option that had the advantages of a PLCC but was simpler to implement, which was the main selling point for small businesses.


Ah, OK, got it! Altho I had to google "PLCC", Private Label Credit Card. I didn't realize small business pushed Blispay for some customers to be able to make larger purchases. Yeah, Blispay pulled the rug out from under them.


Fico 08: 720/721/719 TU/EX/EQ
Message 95 of 459
Valued Contributor

Re: Blispay Suspending future purchases

Wowza! Literally just paid down my account to $0 balance last week after some promos were set to expire. This card was actually on list to prune out anyways. Was approved for mine around May 2016 w/$5k SL. I think for me after the news broke that it was no longer a HTL and actually reporting to EXP the novelity had worn off for me.






Message 96 of 459
Established Member

Re: Blispay suspending all service (lending)

This is terrible news. I haven't used my blispay card for a couple years but our business has used them for customer financing quite often. We even link their application through our website so customers can apply directly through us.

It has been very useful for not only us but especially our customers who need our service right away but need to pay over time. It elimated our risk because of so many customers not paying their bill after the services were performed.

Message 97 of 459
Regular Contributor

Suspending future Blispay purchases Due to tremendous demand

Just got this email with the above title. The body continues below:

**********************

 

Due to tremendous demand, we’ve found ourselves in the position of needing to temporarily suspend lending in order to give us time to catch up with our growth. What this means is that you will not be able to use your Blispay card for new purchases effective immediately. We're working diligently to resume lending as soon as possible. If you would like more details about this update read this blog post from our CEO.

 

Although you can't use your account for new transactions at this time, you are still required to pay your balance. We’re pleased to let you know that your active promotions will not change; the expiration date of promotional balances will remain the same. You can access your account and pay your balance via www.blispay.com or the Blispay iOS or Android app. You will continue to receive notice of your monthly statement via email.

 

We hope to resume lending as soon as possible. We’re extremely sorry to all of our loyal cardholders who were looking forward to taking advantage of all Blispay has to offer during the start of this holiday shopping season.

 

Sincerely, 
The Blispay Team

Hit the 24-month mark January 2019! All HDs, save one dropped off. BK7 is 5 yrs post.
Message 98 of 459
Super Contributor

Re: Blispay suspending all service (lending)

When they first came around there was wide speculation it was too good to be true and wasn't going to last. 2% rewards (in unrestricted cash especially) are a fine line for banks, which is why 2% cards usually have some type of a catch: requirement to put money in a Fidelity account, requirement to have Paypal, Citi 1+1 etc. Blispay has no catches, so they had to pay out the 2% right away, no redemption threshold or anything!

Message 99 of 459
Valued Contributor

Re: Suspending future Blispay purchases Due to tremendous demand

Message 100 of 459
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