Greenlight launches 3% Family Cash Card

[theyankel]

https://www.cnbc.com/select/greenlight-family-cash-card/

https://greenlight.com/credit/family-cash-card/

[JuryDuty]

Requires subscription, minimum 5$/month

[ExGingi]

I just came across this card when looking online for the highest cash-back cards.

Seems like it's quite easy to get unlimited 3% cash back, which is compelling even if it comes with the equivalent of a $60 AF ($4.99 x 12).

Does anyone have this card? Are they generous with Credit Lines? Any issues to look out for? One red flag for me was that I tried to get the T&C on their website and it errored out.

https://www.bankrate.com/finance/credit-cards/greenlight-family-cash-card/

[JuryDuty]

I just came across this card when looking online for the highest cash-back cards.

Seems like it's quite easy to get unlimited 3% cash back, which is compelling even if it comes with the equivalent of a $60 AF ($4.99 x 12).

Does anyone have this card? Are they generous with Credit Lines? Any issues to look out for? One red flag for me was that I tried to get the T&C on their website and it errored out.

https://www.bankrate.com/finance/credit-cards/greenlight-family-cash-card/

Their T&C link is to a pdf, which my phone gave me an warning message but allowed me to download regardless

greenlight.com/rewards-program-terms-and-conditions

[JuryDuty]

Their T&C link is to a pdf, which my phone gave me an warning message but allowed me to download regardless

greenlight.com/rewards-program-terms-and-conditions

Only major callout I noticed:

During each 1 billing cycle earn rewards on Eligible Purchases: Earn 3% on all purchases when you spend at least $4,000.00. Earn 2% on all purchases when you spend at least $1,000.00 but less than $4,000.00. Earn 1% on all purchases when you spend less than $1,000.00.

[ExGingi]

Only major callout I noticed:

During each 1 billing cycle earn rewards on Eligible Purchases: Earn 3% on all purchases when you spend at least $4,000.00. Earn 2% on all purchases when you spend at least $1,000.00 but less than $4,000.00. Earn 1% on all purchases when you spend less than $1,000.00.

The only problem with that is if they are stingy about giving large CL. Otherwise, this is a non-issue. Compare this to Chase Business Premier which has a $195 AF (compared to Greenlight's $60) and gives 2.5% on charges of $5,000 or more. The advantage of the Chase card is that it is a business card (and the disadvantage is that there are people out there that are blacklisted with Chase, which is known to shut down accounts without notice or obvious reason).

[ExGingi]

In addition, it seems like there's some kind of bonus/reward for kids savings (1% on $4.99 plan, 5% on $14.99 plan). I'm not sure how this works, but this might make things even more lucrative.



ETA: looks like this is a rate on up to $5,000 in savings per family. Works out to an extra $200/yr for spending an extra $120 on the subscription.