Update 8/20/21: They now offer a signup bonus to get double points for the first year, so long as you have one transaction each statement. This makes dining and grocery at 6% back for a year. Max 100,000 points can get doubled. Doubling happens on card anniversary. (ht VFTW)
Original Post:
New FinTech/card issuer Cardless (raised $10m over two rounds) has released its second public credit card ‘Cleveland Cavaliers‘. Let’s take a look in this quick review:
- No annual fee
- Sign up bonus of free Cleveland Cavaliers after $1,000 of spend within 3 months of opening your account (this is actually in the form of Fanatics gift card that is the same value of the Manchested United Home Shirt).
- Card earns at the following rates:
- 5x points on Cavs season tickets and streaming services
- 3x points on other Cavs tickets, dining, grocery and delivery
- 1x points on all other purchases
- $5 towards Peacock Premium after $500 in monthly spend
- Points are worth 0.5¢. towards statement credit and 1¢ towards Cavs gift cards
- 10% off the Cavs store
This briefly had a 100,000 point bonus (worth $500) but that has now expired. Similar to the Manchester card. According to this comment Cardless won’t approve you for a second card. Will be interesting to see if new cards launched by Cardless all come with a $500 bonus for the first X sign ups or not. This cavs card doesn’t have as good earning categories as the Man U card, especially when there is no option for points to be worth 1¢ each when applying by a set date.
Updates:
Update 7/19/21: If you redeemed at 0.5¢ per point then call in to complain. Reddit user gigemaz did this and got enough points to make them whole as if they redeemed at 1¢ per point.
Update 6/16/21: Points are showing as worth 1¢ each in app. If you were lucky enough to get the 100,000 point deal that is now worth $1,000. I’d redeem ASAP as I doubt this is supposed to be like this. Actually landing page has been updated to reflect this so probably a permanent change. Hat tip to ObamasDentist
According to CreditKarma, my Cavs card is not being reported to Equifax or TransUnion. It is being reported to Experian.
It’s an extra 10.000 points per referral (up to 10/year), and the weblink goes to the 100k offer.
This might have been there with this 100k offer all along, but no one commented on it, so when I signed up a few weeks ago (to go for the $2000 sign up bonus, see my earlier comment) I didn’t know, or I would have supported a DoC reader by using their link.
Btw, they don’t seem to be picky about hard pulls, since I have a bunch and got approved no problem… 🙂
Anyone figure out how to get a credit limit increase ?
What credit bureau does cardless pull?
So, if I spend 33k on dining and groceries in my first year, I will have earned roughly $2000 in statement credits after my anniversary?
Chuck ?
Is that correct
They have a new 100K offer (points matching) via VFTW: https://viewfromthewing.com/two-no-annual-fee-cards-offering-100000-points-up-to-10-back-for-a-year/
Thanks, posted
Can you get this if you already had manchester card? I applied while holding manchester card and was denied for “reached maximum number of Cardless accounts”
I was on the fence about getting this card, but now that I see Michael Scott has it…
Tried sending a bill-pay from Chase to Cardless (measly $500 CL) at their mailing address – it never posted.
I was able to “successfully” pay via serve using 350 townsend address. Of course, now it claims my account is past due, despite payment crediting on July 2! Hope this isn’t too much of headache to fix. Normally I’d say eff it but this could affect my credit.
Finally got them to fix after 1 email and 1 cfpb. Not happy. Will take them to arbitration over this.
Did anyone had trouble to add their bank account to the app or online? I got micro deposits twice as I tried on app twice and online once but I can’t go back and verify these micro deposits as there is no option to do that – at least I do not see the option.
Can anyone advise if you had problem and what did you do or how to verify your micro deposits to get your account added?
Thank you for any help 🙂