- Zero Launches Debit-Like Credit Card, Raises $20M by PYMNTS. Always good to see a capital injection like this.
- LIMITED TIME OFFER: Qantas offering deeply discounted First and Business award seats through Airbnb by Points Hacks via VFTW
- WestJet adds Priority Baggage for Gold and Platinum Rewards members by Frequent Flyer Bonuses.
Deals starting/expiring at the end of today or starting today (view the full deal calendar here):
- Chase Offers/BofA: Get $40 back when Spending at AT&T Wireless
- Kroger: 4x Fuel Points On All Gift Cards, Includes Fixed Visa/MC [5/24-5/27]
- Harris Teeter: 4x Fuel Points on Visa/MC and Retailer Gift Cards [5/24 – 5/27]
- Amazon Prime Student: Get 6 Months Free + Echo Dot for Just $4.99 ($45 Savings)
Deals starting/expiring at end of tomorrow:
- Giant, Stop&Shop, Martin’s: Buy $100 In Select Giftcards, Get $15 Off Groceries (5/3-5/25)
- Best Buy: Purchase $100 Delta or Hotels.com & Get Bonus $10 Best Buy Giftcard
Here are some of the most popular posts from yesterday:
Finally got my Zero account! Been waiting since fall 2016. Carbon status baby! Let’s see how well it works…
Note: I don’t like the iPhone exclusivity, but the application experience is more smooth than all the banks and credit unions that I have experience with. Good first impression so far!
Guess who hates strong regulations
https://www.theguardian.com/us-news/2019/may/22/chemicals-in-cosmetics-us-restricted-eu
Another one:
https://www.nytimes.com/2019/05/24/technology/data-leak-first-american.html
So Zero starts an online bank that will offer a free checking account with a debit card… with rewards; and, Zero thinks that the offer will be unique?
Also, this seems like it will get abused and either close up shop, or downgrade the rewards, in less than a year.
Abused is the answer. It’d be a popular “referral thread” for sure — 4 referrals gets you metal card and 3% CB tier.
Is there a DoC referral thread for Zero?
The concept of having a credit card with a linked checking account that automatically “debits” the amounts spent is novel enough that I think the credit-averse would be willing to try it out, the Dave Ramsey crowd, essentially. As for abusing the rewards, it depends on if referrals get you 3% status for life or only for the year, the other tiers really aren’t all that great.
The Target Red Debt card is in a way very similar.
3% for a year. Need $100k spend on the card to keep it.
I don’t understand the hate — basically a CC that doesn’t take credit risk. Not sure how much CC revenue comes from late fees + interest vs interchange fees but to me it seems fairly viable. Obviously first year offer is aggressive but year one is about scaling, not profits