Blispay is a mixture between a credit card that earns 2% cash back on all purchases and a store card that offers special financing on all purchases above $199. They have raised $12.75m in seed funding.
Blispay is a physical credit card, the credit card runs on the Visa payment network so you can make purchases with it at any merchant as long a they accept Visa. Blispay issues a digital card for use following being approved for the card that can be used at participating merchants, or online stores. Let’s jump into the two main selling points on this card: the rewards program & the special financing.
- 2% cash back on all purchases
- 2% cash back is applied as statement credit to your statement balance each month
- There is no cap on the amount of rewards you can earn
- There is no minimum redemption requirement
I love the fact that the statement credit is automatically applied and there is no minimum redemption requirement. I think it makes this card much better than other cards in this space (e.g Citi Double Cash & Fidelity Visa).
Interest Free Financing
- All purchases over $199 will qualify for interest free financing for six months
- If you pay in full before the six months, you pay no interest. If you don’t then you’ll pay 19.99% from the posting date (e.g you don’t get the first six months free)
- There is a minimum interest charge of $2
What Credit Bureau Do They Pull:
- Experian: 1
Here are some data points on the credit limits people have been receiving, share yours in the comments with as much detail as possible.
Credit Limit Increases
Currently it’s not possible to request or receive a credit limit increase but Blispay plan to add this functionality sometime in the future.
If you have any questions, they are probably answered in the comprehensive FAQ found here. How useful this card will really depend on what sort of credit limits you receive, imagine being able to purchase a cash equivalent and not pay interest for six months and receive 2% cash back for doing so? That sounds too good to be true, meaning even if it does have high credit limits I doubt it will last long.
Share your experiences/thoughts about Blispay in the comments below.
Hat tip to reader ervinshiznit on Twitter