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Is Blispay too good to be true????

JellyBeanGurl111
Frequent Contributor

Re: Is Blispay too good to be true????

I'm still curious has Blispay shown up on the credit report yet?
Message 41 of 166
WaveRider
Established Contributor

Re: Is Blispay too good to be true????

Is Blispay run by former Paypal employees?

Message 42 of 166
Blodreina
Established Contributor

Re: Is Blispay too good to be true????


@JellyBeanGurl111 wrote:
I'm still curious has Blispay shown up on the credit report yet?

No.

 


@WaveRider wrote:

Is Blispay run by former Paypal employees?


 

Yes, I believe so.

Message 43 of 166
CelticLady
Regular Contributor

Re: Is Blispay too good to be true????

After looking over their FAQ I think it provides insight into how they will get interest from people simply not reading it and not being careful.

 

"How do you allocate my payments?

 

Your payments will be allocated as required by law, to maximize your promotions and pay off highest interest balances first. When you make a payment the minimum payment amount will pay off any fees and interest on your account, then your higher interest balances first. Any payment amount above the minimum payment due will be applied as follows:

  • If you have a No Payments No Interest purchase on your Blispay Card (or any other Promotional Purchase that is a deferred interest transaction) that balance will be paid off first during the last two months before the expiration date. For example, if you have a No Payments No Interest purchase on your account that expires in June, when you make your payment in May that payment will be applied to your expiring No Payments No Interest purchase first.
  • In all other situations, we will pay off your higher interest balances first."

 

 So, If you are using this card for a combination of 6mo financing offers and smaller purchases all the time then on month 4 of your financing you could start to acrue instrest on your non-financed charges because the payments go towards the financed charge that is set to expire in 2 months and not regular charges. If you constantly have 6mo financing expiring every month then your regular charges could start to and continue to acrue instrest starting at month 4 of having the card.

 

Unless I am not interpreting how they allocate payments correctly.

Wells Fargo Propel / AMEX BCE / Cap1 QS WMC / Chase Freedom / Cap1 QS / Discover it / Cap1 QSO / Chase Amazon Visa / PayPal CBMC /
Message 44 of 166
BrutalBodyShots
Super Contributor

Re: Is Blispay too good to be true????

One of the reasons I'd obtain the Blispay card in addition to the financing option is that I don't currently have a 2% CB card and was looking for one to use as my non-category daily driver.  I was considering the Citi DC, but from reading lots on here it seems that most would choose Blispay over that.  I understand that there are benefits and drawbacks to both.

 

I undestand what you are saying Uncle B with holding off if you know your scores will rise some.  As I think I said earlier, my score can only rise 25 more points in the next 5.5 years unless I receive a GW adjustment removing a major baddie, and that doesn't seem to be in the cards right now.  That said, I don't expect to climb out of the 730's any time soon, so I don't know that holding off on apping would really make a difference in my situation.

Message 45 of 166
UncleB
Moderator

Re: Is Blispay too good to be true????


@BrutalBodyShots wrote:

One of the reasons I'd obtain the Blispay card in addition to the financing option is that I don't currently have a 2% CB card and was looking for one to use as my non-category daily driver.  I was considering the Citi DC, but from reading lots on here it seems that most would choose Blispay over that.  I understand that there are benefits and drawbacks to both.

 

I undestand what you are saying Uncle B with holding off if you know your scores will rise some.  As I think I said earlier, my score can only rise 25 more points in the next 5.5 years unless I receive a GW adjustment removing a major baddie, and that doesn't seem to be in the cards right now.  That said, I don't expect to climb out of the 730's any time soon, so I don't know that holding off on apping would really make a difference in my situation.


+1

 

You're exactly right, my friend.  I read your reply after I made that post, and I went back and added a statement at the bottom basically agreeing with you completely.  Nobody can say exactly what you should do, but if it were me I would at least consider giving it a try at some point... what's there to lose? 

 

If you're approved with a SL smaller than you would like, there's always the chance they will start giving CLIs at some point; remember, since they're brand new right now there's really no point to put the mechanization in place to care for it, but I believe at some point there will be.  (Of course this is speculation, but it makes sense.)

 

The one thing for certain is that if you hold off completely you're guaranteed to not get a SL you can use.  Especially with it being hidden as it currently is, I see very little down-side to at least giving it serious consideration.  The worst-case scenario at this point is that you'll possibly waste a HP on your EX.

 

As always, I'll be supportive no matter what you decide.  Nobody knows what will work best for you but you!  Smiley Wink

Message 46 of 166
Imperfectfuture
Super Contributor

Re: Is Blispay too good to be true????


@BrutalBodyShots wrote:

@shmacckk wrote:

My ex is 724 and I got approved for ....1400 lol 

 

Its unusable to even float a big purchase on it.


WOW, that's the lowest CL I've seen on this card by more than 50%; the previous lowest CL I've seen issued was $3k and that was to those with scores in the high 600's.  Is there anything outside of your 724 EX score that could have spooked them?  Lots of inquiries?  Low AAoA?  Baddies?  That has to be some sort of reason why they threw that low of a limit at you.


Maybe, they have reached the end of limits backed by percentage of assets.  The bank has to have sufficient reserves for all lending.  Jumping on this train later may yield lower limits.  Jumping right away gives you too many unknowns.  So, there it is....  Smiley Wink

Signature needs updating
Message 47 of 166
BrutalBodyShots
Super Contributor

Re: Is Blispay too good to be true????

Well, while I just heard about this SL which is the lowest I've heard of yet with Blispay, I also heard in another thread a day or two ago about someone getting a $12k SL which was $2k higher than the previous highest $10k limit that I had heard with this card.  It seems to me that the overall range has expanded, meaning that SLs can now be quite a bit lower OR quite a bit higher than was previously the case.

Message 48 of 166
score_building
Senior Contributor

Re: Is Blispay too good to be true????

12k was the highest reported from outset.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 49 of 166
BrutalBodyShots
Super Contributor

Re: Is Blispay too good to be true????

$1400 and $12000 would both seem to be outliers.

Message 50 of 166
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