New credit card X1 card

[justmeha]

the X1 card

Seems like it may have some potential.

• 2x everywhere
• 3x after spending $15,000 a year
• 4x for a month with a referral

Did not give a thorough look, so there may be more opportunities etc

[justmeha]

Points seem to be worth one cent, to be used at some 40 brands

[Samb]

Points seem to be worth one cent, to be used at some 40 brands

I signed up to waiting list. Definitely seems like a game changer

[moe8555]

I signed up to waiting list. Definitely seems like a game changer

How do you figure?

[Samb]

How do you figure?

You will be earning 3% on all purchases if you spend $15k a year. Plus as per RunningWithMiles who spoke to the CEO redemption rates will go up by certain merchants to 2 cents per mile giving you 6% cash back (in form of gift card) on all purchases!

[moe8555]

Gift cards and purchase erasing for a select group of merchants is not what I'd call "game changing."

For many of those merchants, you can also buy gift cards at a discount, further diluting the rewards value...

[Dan]

Gift cards and purchase erasing for a select group of merchants is not what I'd call "game changing."

For many of those merchants, you can also buy gift cards at a discount, further diluting the rewards value...

And for airfare, you also lose protections when paying with a GC.

[Dan]

certain merchants to 2 cents per mile giving you 6% cash back (in form of gift card) on all purchases!

Probably restaurant.com and nonsense GCs. No way the model is sustainable with Amazon GCs.

[Samb]

For many of those merchants, you can also buy gift cards at a discount, further diluting the rewards value...

Correct but even if you cut the value by 20% you still get  4.80% on all purchases. And in order to stay with protections, I would probably just sell the gift card at a 70% -80% value. But I believe Dan is right, the 2% value will only be on crapy gift cards so this strategy most probably will not work. But I will wait and see.

[UKinNYS]

https://www.wired.com/story/x1-new-credit-card-with-silicon-valley-twist/

[AsherO]

Do they hard pull credit to apply? Do they report to CRBs?

ETA: They mention having higher CLs than other cards thus lowering your utilization and improving your credit, which tells me they report to major credit bureaus.

ETA2: Blogs reviewing the card claim no hard pull, hmmm...

[AsherO]

I signed up to waiting list. Definitely seems like a game changer

@Samb did you get invited yet? What position were you on their waiting list (should be in your initial email from X1)?

[mushkovits]

Just received my invite to apply
Applied and was rejected.
Waiting on email for explanation

[sr]

Anyone ever get this card? Looks like easy minimum of 3% back. What am I missing, I'm assuming there's something....

[lubonics]

Following up with this.
It initially reminded me of the Black card (a hard no!) when I saw them bragging about the 17g stainless steel card, but it's a totally different product.
Looks like you get at least 3x points (more on bonus categories) when spending over $1,000 in a month up to $6500, which includes partners like Amazon, Costco, most airlines...
Any more thoughts?

[frima3600]

Anyone else having this card?
I recently opened it, I used it for a few purchases, then they started to decline every single transaction, afterwards, they closeed it down, saying cuz of fraud security.. bla bla..
There’s no number to contact them, only via SMS an email, and there’s no one to talk, there, typical dumbbells..