Update 11/29/22: 3x points for the year when you spend $15,000 on the card in that year is now capped at $7,500 per spend per month. Feel like this change should be effective January 1, 2023 but doesn’t seem to be. Might be worth filing a complaint with the CFPB if it affects you. Hat tip to Kian
Update 5/19/22: X1 has added some more merchants including Amazon, Best Buy, and Home Depot but when you redeem against these charges it’s 0.75¢ per point instead of 1¢ per point. Old options are still at 1¢ per point. Hat tip to veeRob
A new card has launched called ‘X1 Smart Credit Card‘. Let’s take a look at this new card in this quick review.
- No annual fee
- Card earns at the following rates:
- 2X points on every single purchase
- 3X points on every single purchase for the year if you spend $15K+ on the card in that year
- 4X points on every single purchase for a month for every friend you refer (If you bring in 10 friends for example, you’ll get 4X points on every single purchase for 10 months)
- Stainless steel card
- Credit limit will be based on your income, not credit score
How Much Are Points Worth?
Points are worth 1¢ per point on most merchants, there will be some merchants where points will be worth 2¢ per point.
Our Verdict
I don’t see how this is sustainable long term, especially if you can get 2¢ per point when redeeming points at some merchants (I assume you redeem points against these charges?). That would mean you could get 4% – 8% cash back on all purchases. That being said this is a product from Thrive (they created ThriveCash) and have raised $10 million over two rounds (although the last round was in December 2018). Lately we’ve seen a lot of these fintech products with a lucrative offering, unfortunately many of them have never actually launched. Do not share your referrals in the comments.
Do not post your referrals in the comments.
your referrals in the comments.
hehe, gottem
I need a referral..
Are you going to host a separate site to post referrals?
no
I need a referral
why do you guys disallow referral posts?
Some people will post their referral 20 times with different names
Because too many people abuse it and post links lots of times
It was announced today that X1 is being acquired by Robinhood.
X1, a credit card company with no telephone customer service and no functional website, just texted me that I must upload my driver’s license or my passport — from my phone — or they will close the account. What kind of lunacy is this?
I should add that a few months ago, I had to text them back and forth for two hours with a customer service request that takes five minutes by phone — and they said no.
This seems to have changed today for new accounts, old accounts can still get the 15k benefit.
For new account, it is 3% Credit card if you spend $1000 that month, else 2% base benefits.
Based on https://x1creditcard.com/legal/program-terms#x1-card-rewards-program-rules
The new rewards structure:
every calendar month, first $1k spend earns 2x, the next $6.5k spend earns 3x, spend above 7.5k earns 2x
The best scenario if you spend exactly $7.5k every month, you earn (2x1k+3×6.5k)/7.5k=2.8 per $1 spend.
The good news is if we qualified 3x in pervious card anniversary year, you can still keep the old term till the current card anniversary year ends. And I didn’t find there is a $7.5k cap for 3x. Of course after that, the new term kicks in.
They sent an email out, you can choose to either earn 3x points when you spend $1k for the month, or $15k for the year.
I have the X1 card and the customer service is horrible. They will almost randomly disable your card and merchant disputes will basically never go your way.
Keep changing the rules on this card. HB Stacks no longer award pts.
When you first get this card you have to start small the first month. Otherwise all you charges get declined.
If you use it at the same grocery store for gift cards they will not earn you points I’ve found out.
I like the boosts they will have 5x at gas stations or 4x at pharmacies etc. The past two weeks they have given new boosts out.
Does this card earn 1% wiith Enzo ppbp or pay by phone?
I personally love my X1 card, yes they nerfed the referral bonus but according to the latest rewards T&Cs, the 3x is limited to $7,500 a month.
The flexibility to create cards when you need it and free trial cards is super useful.
—
Monthly Spending Limitation: The three (3) points per dollar will only be available on the first $7,500 of Eligible Spend each calendar month. All Eligible Spend in excess of $7,500 during the calendar month will earn two (2) points per dollar, even if the 3x Annual Spend Bonus has been activated.
– Greenlight Family Cash Card 3% cash back on all purchases and NO foreign transaction fees.
OR
– Citi Double Cash 2X
– Citi Custom Cash 5X
– Chase Freedom Flex 5X
Now, add in transfer bonuses to airlines.
Or, for Chase, if you have the CSR, use pay yourself back and you’re at 7.5% cash back.
OR
A combination of the above.
Have you by chance tried to earn 1% from the greenlight card by paying it off with Enzo via ppbp or by phone?