X1 Card review :)

[Alephbet]

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@practical1 wrote:

@Alephbet 

Thanks for sharing your experience.

I've also learned "the hard way" that with new accounts, especially, it's always best to be proactive before any significant spent which could in any way potentially trigger the anti-fraud alerts.  Since it's very difficult to predict exactly what might do it, a quick call to customer service before making major purchases (or multiple purchases in a short timeframe) often allows a note to be inserted which can short-circuit such issues.  Until they have an established spending pattern to draw upon, assume that most will err on the side of caution, every time.  The unfortunate result is at minimum, aggravation or possibly a lot worse.

After all, the issuers are basically "on the hook" for actual credit card fraudulant transactions processed, not the consumer.

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You're absolutely right. This is particularly true of these newer "fintech" cards where they do not have the established patterns and huge corporate bank to back the card. Patterns of very large transcations and high spend can really be red flags. I've had some issues with AMEX on their charge cards early on but reliable payments and continued spending that ramps up over a year or so has made that a complete non-issue now and I can easily run huge transactions through AMEX with no issues at all. I do not mind having some growing pains issues with a card like this as I am sure it will all be worked out in the long run. I like the X1 Credit Card app and ecosystem and, so far, it's my favorite "everything else" card as I can for sure get 3X each year and possibly 4X for quite a while with referrals. The boosts to 5X are a nice touch too. Although the cash back redemption is not fantastic (0.7 cents per point), redeeming for 1 cent per point against certain merchants on their list works fine for me since I spend at those merchants normally.

[bilwilvegas]

Congratulations!  Just wish I could get an invite. I am excited to see how generous the SL will be!  

Thanks!

Bill

[JonStur]

Good for you!!, Seems like I've been waiting for this card for a lifetime!!!

[hawkins]

Just be aware there have been reports of people already being shut down for "rewards abuse" when in reality it was nothing. I watched the Frequent Miler podcast the other day and they were talking about a friend of there's who bought a laptop with the card and got shutdown for rewards abuse. Just a little crazy. This company (x1) has some learning and growing to do before they are ready for prime time. So for god sakes everyone be careful what you buy or how much you spend they are way too quick on the trigger to pull the fraud alarm.

[sammydavidjr]

@hawkins Probably some teething issues. Considering how they don't "cost" a hard pull and there is no annual fee I suppose it's well worth the risk.

[Creditplz]

I texted them today, they told me wait 3-5 BD till payment clears... 

if it's shutdown for rewards abuse I'll just laugh, if they didn't want me spending money on the card, they should've limited it to 5-10k so I could just SD the card.. 

I made the 25k payment on Thursday night, money came out Friday morning, let's see what happens!!! 3.5% CB for these transactions wasn't bad... and I already redeemed so whatever, as long as it doesn't show up as closed by credit grantor down the road I'm alright. 

[sammydavidjr]

First change today to the card's Terms.

Cash advance limit has been changed from 25% of credit limit to a flat $500. I wonder whether they had some specific issues with cash advance abuses early on.

https://x1creditcard.com/static/email-assets/documents/x1-change-in-terms-notice-cash-advance-limit-...

[Anonymous]

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@sammydavidjr wrote:

First change today to the card's Terms.

Cash advance limit has been changed from 25% of credit limit to a flat $500. I wonder whether they had some specific issues with cash advance abuses early on.

https://x1creditcard.com/static/email-assets/documents/x1-change-in-terms-notice-cash-advance-limit-...

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At least they provide a full detailed explanation for the change:

We are making these amendments because of a change in our business practices

Or roughly "we are making the change because we have made the change"

[simplynoir]

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@Creditplz wrote:

I texted them today, they told me wait 3-5 BD till payment clears... 

if it's shutdown for rewards abuse I'll just laugh, if they didn't want me spending money on the card, they should've limited it to 5-10k so I could just SD the card.. 

I made the 25k payment on Thursday night, money came out Friday morning, let's see what happens!!! 3.5% CB for these transactions wasn't bad... and I already redeemed so whatever, as long as it doesn't show up as closed by credit grantor down the road I'm alright. 

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I gotta say I'm keeping track of your situation closely because if/when I get an inv for the card it'll probably get biz spending on it and bleep going through the hassle of using a card if they're going to do this anytime a person puts huge spending on it. This is after the fact they ask to see your banking information to confirm your income

[Creditplz]

They restricted me using it till I paid the balance, I paid the balance now they wait 5 BD for payment to clear.. 

from what it seems like to me is AA - Account closure, then again I'm assuming.. but I got that email too.. not a single cash advance was made on my behalf.. 

I offered to send a invoice of the items purchased, they said "ermmm, maybe we will be in contact with you" 

kinda annoying but whatever.. I have a feeling even if they do unlock the card I'll be more then annoyed so it won't get much use anyways.