@PDXoriginal wrote:I completely forgot about this card. Still in the very very low on the wait list.
However, can someone remind me why I would bother with this card again?
They want to access to your bank accounts? See your paystub?
Why would I get this over the Apple card?
<sigh> ... do we really need to tell you after reading the ad? 
Because it's the smartest credit card ever made.
.... Whatever that means.
(... So the inference is that getting it makes you smart ... ) 
Plus ... it's 17 grams pure stainless steel.
While the Apple card <snicker> is just a pathetic 14.75 grams of titanium. Lol 
And heavier cards rock.
Plus ... you get "higher limits" because you let them watch your bank account. So there's that. Apple won't watch your bank account for you.
And ... for every month you work for them getting all your friends and acquaintances to not only sign up but also get approved, you "unlock" 4% for 30 days. (I wonder what that hourly rate works out to and how many friends you'll alienate?) 
Seriously, the X1 card does give you a minimum of 2% cash back, which Apple Card does not do. (Apple is only 1% cash back whenever you use the physical card.) However, the other flat-2% or higher cards don't make you share your banking information.
Sorry enthusiasts, but overall I'm still not impressed. In particular, the whole privacy issue still concerns me, and I don't see anything there I really need.
@Aim_High wrote:
@PDXoriginal wrote:I completely forgot about this card. Still in the very very low on the wait list.
However, can someone remind me why I would bother with this card again?
They want to access to your bank accounts? See your paystub?
Why would I get this over the Apple card?
<sigh> ... do we really need to tell you after reading the ad?
Because it's the smartest credit card ever made.
.... Whatever that means.
(... So the inference is that getting it makes you smart ... )
Plus ... it's 17 grams pure stainless steel.
While the Apple card <snicker> is just a pathetic 14.75 grams of titanium. Lol
And heavier cards rock.
Plus ... you get "higher limits" because you let them watch your bank account. So there's that. Apple won't watch your bank account for you.
And ... for every month you work for them getting all your friends and acquaintances to not only sign up but also get approved, you "unlock" 4% for 30 days. (I wonder what that hourly rate works out to and how many friends you'll alienate?)
Seriously, the X1 card does give you a minimum of 2% cash back, which Apple Card does not do. (Apple is only 1% cash back whenever you use the physical card.) However, the other flat-2% or higher cards don't make you share your banking information.
Sorry enthusiasts, but overall I'm still not impressed. In particular, the whole privacy issue still concerns me, and I don't see anything there I really need.
But Jared Leto is investing! That implies it is a good financial product, right? Right?
Well, 2% base cash back, plus if you focus on it and get $15,000 spend, it becomes a 3% card, with no AF. I don't want to go after AOD, but there's no denying a 3% all around card is interesting. I have probably too many high-AF cards that earn well in specific situations, but are a chore to maintain them all.
Plus, as a MyFico Guinea Pig, I need to see what sort of credit limit I get, once this is released.
I see the X1 as another innovation in credit cards, similar to AMEX adding Plan It and extending cardmember offers, and the launch of Apple Card as more banks try to make the credit card space interesting.
@4sallypat wrote:Isn't this card that does not pull your credit, but rather extends credit based on a job and bank account ??
Soft pull, according to Nerd Wallet, so there is a basic review of some credit info. Yes, a payroll stub or job offer letter is used in the credit application process. Which makes me wonder how Nerd Wallet thinks this will be a good card for students.
@NRB525 wrote:Well, 2% base cash back, plus if you focus on it and get $15,000 spend, it becomes a 3% card, with no AF. I don't want to go after AOD, but there's no denying a 3% all around card is interesting. I have probably too many high-AF cards that earn well in specific situations, but are a chore to maintain them all.
Plus, as a MyFico Guinea Pig, I need to see what sort of credit limit I get, once this is released.
I see the X1 as another innovation in credit cards, similar to AMEX adding Plan It and extending cardmember offers, and the launch of Apple Card as more banks try to make the credit card space interesting.
Yes, a base 2% with the opportunity to earn 3% is great! I don't mean to diminish the potential rewards. And I'm interested to see the experience of those My Fico Guinea Pigs!
In my case, I have five other cards earning between 2% and 3% uncapped on uncategorized spend already, so the only added value is the potential to temporarily get 4% if I want to market their card. (AOD FCU, BofA PR, CFU+CSR, PF PCR, GS Apple.)
I guess this also reminds me of the Apple card frenzy, which I allowed myself to get caught up in. It's been an interesting card to experiment with, but overall it's more of a regret card for me in hindsight. I don't really want to have so many choices of cards in the same earning categories, and the Apple card is down the list on overall uncategorized rewards for me. I also thought they would be a little more generous with those "high limits" like the X1 is promising, but they've proven to be pretty conservative about that.
But the privacy concerns for me are huge. I'm concerned about that as-a-whole these days and with a tech start-up company like this, I see the potential for data mining if I give them access to my banking.