There's a new startup in the credit card space, called Zero, that many people should be excited about. To cut to the chase, in early 2017 we'll see a credit card that acts like a debit card, and offers up to 3% cashback on all purchases. Let me explain. Many debit cards used to offer…
Continue reading: A New Credit Card Will Offer 3% Cashback On All Purchases!
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Share on social media to get to magnesium and 3 referrals for carbon.
Here's my code
zerofinancial.com/EARLY16947
Will this be a good card to use abroad? Any ideas what the foreign exchange rates/fees are? Will they charge to use foreign ATMs?
Cue the reports of closed accounts and confiscated rewards in 1... 2... 3...
Otherwise, they'll get crushed by MSers.
Graphite is Carbon, while Carbon doesn't have to be Graphite. I am twisted.
With that been said, this card is not for me. I want elite benefits and easy status.
Main question everyone should be asking is if the deposits in your account are FDIC insured? Getting to 100k in spending means around 10k a month in your account. They go belly up, can you afford to lose 10k?
And to clarify, I do see on their site that they mention FDIC insured through a member partner bank. Remember, not everything you read on the internet is true. If it seems too good to be true, it just might be.
Not clear if you earn 3% on the $100K you spend to earn the Graphite status too.
This is interesting, thanks. Would appreciate anyone who signs up through my link: https://zerofinancial.com/EARLY17181
Everything in this article is accurate except the exclamation point at the end of the headline. Which one of your readers uses a debit card on principle?
I think it's a safe assumption that most of your readers earn 1.5%+ on most transactions, and may average closer to 3-4% given various category bonuses mentioned in your Chase quadfecta.
They will make money off the top level. They seem to be a bank so they will make money off the deposits.
The best ever cards were the gm card at 5% toward a vehicle and my favorite the recently now defunct Barclay's Travelocity at 4% back.
I would guess they would not care about business spend if you hold a large enough balance.
Nothing like having another chance to pimp some CC that isn't even attempting to publicize details.
"high interest on deposits" (except we don't tell you what interest rate).
no info on how to reach the 3% via referrals ("level-up" and you may or *may not* be rewarded).
Lucky's advice: "... so you might as well do it..." because, hell, otherwise how would he get his referrals?
Here is a thought Lucky: why not try to contact them and give us some details as opposed to simply writing a free press release on their behalf and giving us your referral link and a(nother) click bait blog title. This blog has gone so far downhill over the past few years.
Quantity does not mean quality.
While the present this as a novel idea, isn't it simply an evolution of a secured credit card?
FYI, using Check Status you can see your progress towards attaining higher level due to referrals.
Share on facebook for magnesium and only more 3 referrals for carbon.
Here’s my code – https://zerofinancial.com/EARLY17323
Thanks!
Thanks Lucky! I just signed up using your referral link and I posted to Facebook so now I will be earning 2%. With 3 referrals of my own I will earn 3%. Here is my referral link:
https://zerofinancial.com/EARLY17336
I'm gonna have to stop reading the blog if these redirects don't stop. It's OOC
It sounds exactly like a pre-paid credit card to me? Something the rest of the world has had for years. Granted the interest on the balance is somewhat unique, but it's not as revolutionary as you're proclaiming it to be!
It appears to have Visa Infinite branding. Wonder if it will include the $100 flight credits that the CSR does not?
They do say no fees, but it's unclear if that includes foreign transaction or cash advance fees.
They offer ACH, so in theory you could pay taxes/mortgage/utilities with it. That almost certainly won't earn cashback or count as spend though.
Unless you get Carbon though, probably not worth using this over other cards.
Still, why not, here's my code: https://zerofinancial.com/EARLY17445
Lucky, can you find out if they report to the ctedit bureau just like a regular credit card?
JCB has a 3% cash back card that's essentially no annual fee - although only available on the West Coast.
https://www.jcbusa.com/for_consumers/marukai-premium-jcb-card/
Definitely could be good for non-bonus, though really would want that 2 or 3% (1.5 doesn't quite entice me given some of the other cards.) Good to sign up though and will be interesting to see how it works. Smart on them for getting the word out before launching.
HTTPS://ZEROFINANCIAL.COM/EARLY18337
Code: EARLY18337
Thanks for letting us share.
Thanks Ben. Signed up and here's my link.
https://zerofinancial.com/EARLY18404
"Zerocard will be a Visa credit card that acts like a debit card. You’ll load your account with cash and then can make purchases as you would with any other debit card."
So... a prepaid debit card?
I would think that by calling it a credit card, you're implying that they will extend you, you know, credit. I may have skimmed their site a little too quickly, but I didn't see that on their site.
In fact, Zero markets the card as "a Visa card that acts like a debit card and earns credit card rewards." But they provide interest on deposits.
So... an online bank that gives you cash back when you use their debit card.
Neat.
Perk Street tried this a number of years ago - I actually really liked them but sadly they shut down. I'd be surprised that a startup could offer higher rewards in a marketplace with now-mandated lower transaction fees and make a real go of it.
Understanding why they think they can do so would be helpful.
Can someone answer Jamesy's question please?
Specifically, will applying for this card show up on my credit report? I am trying SO VERY HARD to not apply for any new cards anytime soon (except maybe non-Chase business cards) so I can maybe qualify for CSR in about a year (and keep up with all the dang bloggers who keep bragging about how they got the card and how they plan to spend their 10K UR. Sorry but this ongoing bragging really ticks me off).
If you can answer this question accurately, I'll consider using your link to apply.
Terri -
They don't clearly say. But one of the items in their FAQ mentions credit scores:
"Because Zero discourages overspending and encourages automatic payments in full of any Zerocard balances, Zero may increase your credit score."
This suggests that it would be included as a line of credit on your report.
I'm right there with you on frustratedly waiting to drop under 5/24. That Delta Platinum offer is hard to pass up, and if the other rumors are good, it's going to make it harder. I'd say holding out for CSR is a good call, but there's also no harm in signing up for the Zero waitlist and making the decision once we learn more.
If you do, I'd appreciate it if you use my referral: https://zerofinancial.com/EARLY17445
3% with a $100k minimum spend requirement? Bahahahahahahahahaha.
Definitely NOT a good value considering what such a level of spend can get you with other cards. Factor in that you have to pre-pay and this "deal" looks worse than Blackberry stock.
Please sign up under my link so we can all level up!
https://zerofinancial.com/CARD5682
I'm glad I happened upon this article. This card sounds and looks to be very interesting and useful. I prefer to use my debit card over credit cards. I like to spend my own money that I know I have so to get rewarded for that along with having a unique but simple looking card is great. Hope I get approved!
Please sign up with my link code
https://zerofinancial.com/DOLLAR13718