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At first glance, X1 seemed good for a heavy spender who wants just one single card, since the rewards rate is 3x after you've spent $1000 per month (but the first $1000 is only 2x). I would not be interested in using it myself as I already use multiple category-specific cards paying above 3%, with well under $1000 in spending outside the ...
I don't think they will report to the credit bureaus soon, so I might just cancel the card in a couple of weeks.The main reason why I wanted this card was for non-category spending abroad without a transaction fee, not like my go-to cards for these types of charges (Freedom Unlimited, Citi Double Cash and AMEX BBP).I fortunately wasn't hit with ...
Negatives are the points: you can earn a ton if you get lots of people approved for your invites. However if you redeem the points for cash, they are only worth 0.7X in dollars. I can find better points elsewhere. But for me, having a dependable card overseas that just works and multiple options for virtual cards makes this card my favorite.
Also, BofA Unlimited Cash Rewards with Preferred Rewards membership at Platinum and Platinum Honors level equals to 2.25% and 2.625% cash back which beats the calculated cash back redemption of the X1 Card. Overall, I think the X1 Card could be a nice card for those that value point redemptions for stores and prefer the features that it offers ...
The X1 card shows an APR range and fees ($0) which is all the information relevant to the cost of using the card. 2x-3x points is gold standard in the credit card market and basing limits on offer letter, career path, and average promotion cycles seems intuitive and progressive.
X1 would give 3 percent on every purchase No, it would be 3 points per dollar IF you spend $15,000/year, and if you redeem those points for cash, they're worth 0.7 cents each (so 2.1%).
Calculating possibilities if I used X1 to pay rent (1200$ a month) My situation: 3.49% Credit Card processing fee for rent. X1 Cycle begins right before paying rent 41.88$ extra cost 26$ Cashback from Rent (0.7 cents per point) 3725 Points (assuming the 3X kicks in on the same purchase that brings balance over 1,000$)
No AF is common for catch all cards. A lot of people already have like 2% catch all, so its a 1% bump. So if you get this card instead of a different CC with a basic $200 SUB, you would need to spent 20k to make up that difference. And that's ignoring the cashback you could potentially be getting with that new card.
Unfortunately, due to their partnership or their company been sold, I didn’t see the points transferring over so I used to the points to buy a iPhone 15 pro. I’m sure they will implement something similar to what fidelity does with their credit card where your able to redeem your points to buy stocks on their platform
And in the end I found this about X1. "Credit report: Coastal Community Bank will do a hard pull to check your Experian credit report only if you choose to accept approval for the card. Approvals based on your income: Approval and credit limits are not based on your credit score. Rather, it's based on your income and expenses.