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Zerocard

CreditInspired
Super Contributor

Re: Zerocard


@Anonymous wrote:

@pinkandgrey wrote:

Interesting. A card that requires friends with good credit lol. It’s a neat idea with the checking account setup. It sounds like a charge card basically. It’s kind of funny—the “pyramid scheme card” lol. As Brian_Earl_Spilner said, it will be interesting to see how it plays out. 


Lol that’s word for word what went through my head — the pyramid scheme card. 

 

Thanks but no thanks. I don’t think my friends have good enough credit to do it anyway. 😅


And, neither I nor my friends have $100K, $50K or even a measly Smiley Very Happy $25K for a monthly spend. Smiley Very Happy


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 11 of 21
CreditInspired
Super Contributor

Re: Zerocard


@Brian_Earl_Spilner wrote:

@CreditInspired wrote:

@Brian_Earl_Spilner wrote:

I just looked into it more. 3% carbon requires 4 referrals or an annual spend of $100k, the 2% magnesium requires $50k annual spend. But you get metal cards, so there's that. 👍


And the 1.5% cashback is 1 friend or $25K annual spend. Plus, you have to have their Zero checking so payments can be deducted. 

 

Now why cant I come up with these money-making schemes 😩


If you can secure $30MM in funding, you can start your own credit card.


True


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 12 of 21
Anonymous
Not applicable

Re: Zerocard


@CreditInspired wrote:

@Anonymous wrote:

@pinkandgrey wrote:

Interesting. A card that requires friends with good credit lol. It’s a neat idea with the checking account setup. It sounds like a charge card basically. It’s kind of funny—the “pyramid scheme card” lol. As Brian_Earl_Spilner said, it will be interesting to see how it plays out. 


Lol that’s word for word what went through my head — the pyramid scheme card. 

 

Thanks but no thanks. I don’t think my friends have good enough credit to do it anyway. 😅


And, neither I nor my friends have $100K, $50K or even a measly Smiley Very Happy $25K for a monthly spend. Smiley Very Happy


Well those are yearly spend requirements but yeah I couldn’t do any of those either 😂 

Message 13 of 21
CreditInspired
Super Contributor

Re: Zerocard


@Anonymous wrote:

@CreditInspired wrote:

@Anonymous wrote:

@pinkandgrey wrote:

Interesting. A card that requires friends with good credit lol. It’s a neat idea with the checking account setup. It sounds like a charge card basically. It’s kind of funny—the “pyramid scheme card” lol. As Brian_Earl_Spilner said, it will be interesting to see how it plays out. 


Lol that’s word for word what went through my head — the pyramid scheme card. 

 

Thanks but no thanks. I don’t think my friends have good enough credit to do it anyway. 😅


And, neither I nor my friends have $100K, $50K or even a measly Smiley Very Happy $25K for a monthly spend. Smiley Very Happy


Well those are yearly spend requirements but yeah I couldn’t do any of those either 😂 


Oh this is a hoot. I can't believe I actually wrote MONTHLY! Smiley Very HappySmiley Very Happy That's Bill Gates, Warren Buffet kind of spend.


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 14 of 21
Dinosaur
Moderator Emeritus

Re: Zerocard

In my mind I find it interesting the amount of money the CEO could raise with his outstanding background in finances and debit/credit card operations. Think I will contact him to learn secrets on playing "Words With Friends"! Oh, the point on a Pyramid Scheme is of note ... don't remember a good one of late? Smiley Frustrated

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Message 15 of 21
Revelate
Moderator Emeritus

Re: Zerocard

Between the loss of the one month grace period if you are playing hard with credit, and the pyramid scheme nature of it unless you are spending heavy (not sure I could possibly withhold enough taxes to get to 100k a year; that is a lot for even a 1% income) I really can’t see this being favorable for people who are already credit savvy that don’t want to start begging their friends to build a pyramid.

I think the market will wait and see, maybe if this gains traction some of the stupid fee structures we’ve all seen in traditional banks and credit unions might change: that would be a consumer win across the board but we will see if that occurs.



        
Message 16 of 21
Anonymous
Not applicable

Re: Zerocard


@Brian_Earl_Spilner wrote:

But you get metal cards, so there's that. 👍


Sweet, I'm in.  Card material > rewards structure.  I'll take a metal 1% CB on everything card over a crappy plastic 3% CB on everything card any day!  Smiley Wink

Message 17 of 21
AverageJoesCredit
Mega Contributor

Re: Zerocard

Sorry i like my Card ....Card!Smiley Happy

No Zero, Diet, or smelling like a Petal🍃😎
Message 18 of 21
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Zerocard


@Anonymous wrote:

@Brian_Earl_Spilner wrote:

But you get metal cards, so there's that. 👍


Sweet, I'm in.  Card material > rewards structure.  I'll take a metal 1% CB on everything card over a crappy plastic 3% CB on everything card any day!  Smiley Wink


It's gonna be a hit here because of that.




Message 19 of 21
WhatTickaWhat
Established Contributor

Re: Zerocard

Such a strange name.....

 

3.2.1.zero

 

rather than 3.2.1.liftoff

or even 3.2.1.contact

 

ohh and i think amway comes to mind of a successful "pyramid scheme", well at least for the ones on top, the owners ahhahahahaha



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Message 20 of 21
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