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Whatchy'all know about Zurp? (possible rent rewards opportunity)

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TyrannicalDuncery
Regular Contributor

Whatchy'all know about Zurp? (possible rent rewards opportunity)

Does anyone have experience, knowledge, or opinions about Zurp? This is not an endorsement of Zurp; my personal (worthless) opinion based on just instinct is that they are honest but could fall apart at any moment.

 

  • Pointless backstory: I was interested in the fintech Enzo, and now Zurp seems to be its successor. Enzo fell apart and sort of partnered with Zurp on its way out, and now Zurp seems to be working on a similar business model to Enzo. (I kind of expect Zurp to also fall through but I'm not a financial analyst.) It's backed by First Pryority Bank, which I've never heard of but is allegedly FDIC-insured.
  • Rent rewards: Anyway, Zurp has a number of rewards gimmicks including rewards on rent payments. Since this is pretty rare (Bilt is the only other one I know and I think the point value is lower for near-cash redemption options), I figured it might be worth looking into despite all the issues with it.
  • Payment methods: Right now I think they only support ACH, and I'm guessing that's how it's going to stay. However, in an email response to me they did say that they planned to roll out support for rewards on rent checks as well in a month or so. I'll believe it when I see it.
  • Redemption options: They don't give cash back but per this review they will give gift cards for Amazon or Target, which for me is just as good. I admit that I couldn't figure that out from the Zurp site because I got boomer fatigue trying to navigate it. Until I saw that review, I came away with the impression that the only redemption options were like skydiving with celebrities and stuff. ("experiences" they call em, I'm too old for those)
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6 REPLIES 6
sznthescore
Established Contributor

Re: Whatchy'all know about Zurp? (possible rent rewards opportunity)

I looked at it. Attempted to apply but it appears they use Chexsystems which I'm not unlocking for a FinTech company. I'll pull my report to confirm. In any event I was denied an account.

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Message 2 of 7
TyrannicalDuncery
Regular Contributor

Re: Whatchy'all know about Zurp? (possible rent rewards opportunity)

Ah, thanks for the scouting @sznthescore !

Message 3 of 7
TyrannicalDuncery
Regular Contributor

Re: Whatchy'all know about Zurp? (possible rent rewards opportunity)

Update: they told me by email a few months ago that they were working on Bilt-style rent check rewards. Here is some more evidence of that, which I think was recently added to their FAQ: https://help.zurp.com/hc/en-us/articles/17207631534363-How-do-I-earn-points-on-rent-

Message 4 of 7
Anonymalous
Valued Contributor

Re: Whatchy'all know about Zurp? (possible rent rewards opportunity)

Wow, that's an annoying website.

 

To add something to the conversation, Zurp's backing bank First Pryority has been FDIC insured since 1934 (they've been around since 1900). They have an excellent (A+) health rating on deposit accounts, but they're definitely small and local ($385M in assets, 2 branches). They're a commercial rather than a retail bank, so they provide services for other businesses rather than individuals.

Message 5 of 7
TyrannicalDuncery
Regular Contributor

Re: Whatchy'all know about Zurp? (possible rent rewards opportunity)

Update: This has been known for a while, but I just noticed that the value of points looks like about 0.13% (when converted to Amazon gift cards).

 

https://upgradedpoints.com/news/zurp-card/

Message 6 of 7
TyrannicalDuncery
Regular Contributor

Some more basic Zurp info

Some basic updates on Zurp:

1. They now offer rewards on rent paid by check. https://help.zurp.com/hc/en-us/articles/17207631534363-How-do-I-earn-points-on-rent-

2. Their point values for near-cash redemption options seem very low based on the examples here: https://upgradedpoints.com/news/zurp-card/, around $0.0013/point if my math is right.
 
I'd be interested to hear from y'all if you know the point values for any other redemption options. Unless they have another near-cash redemption option of much higher value, I'd be getting ~0.2% back on rent compared to I think ~0.7% if I use Bilt and redeem for statement credit. I could be missing something though.
 
So for me personally, the core element isn't there so I'll probably pass. But there are a lot of other good features like the 5% savings rate and many other rewards avenues/fancy redemption options. To each their own.
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