Credit Cards

Category Archives for Credit Cards.

Elon Musk’s Twitter Plans To Offer Debit Card, High Yield Money Market Accounts

by Gary Leff on November 9, 2022

Nov 09 2022

In the final sketch of the Elon Musk episode Saturday Night Live last year, Musk suggested creating a currency based on “whatever we say it’s based on.” Now the Dogefather has filed paperwork for Twitter to get into the payments business.

In a Q&A today with advertisers, he described users “link[ing] their online bank account to Twitter” and offering “extremely compelling money market account to get extremely high yield on your balance.” They’ll also offer a debit card and other services.

Big Changes To The Alaska Airlines Visa Including Biggest Ever Bonus

by Gary Leff on November 8, 2022

Nov 08 2022

In addition to a biggest-ever bonus there are changes to the card’s earning, and benefits – including to the $99+tax annual companion pass.

How To Get Exclusive Taylor Swift Presale Tickets

by Gary Leff on November 1, 2022

Nov 01 2022

In our deeply divided world, where we can’t seem to decide whether Elon Musk is a hero to the left (electric cars and solar energy) or villain (since if he allows former President Trump to trashpost on twitter that’ll be a threat to democracy, though it likely helps the political fortunes of Democrats), there’s one thing we can all come together over. Taylor Swift. Hero to the alt-right and to the cultural left.

Paypal’s Objectionable Terms Are Back, $2500 Fines For Content They Don’t Like

by Gary Leff on October 26, 2022

Oct 26 2022

Two weeks ago Paypal introduced language into its terms and conditions that allowed them to withdraw $2500 from your account for each time they believed you “promot[ed] misinformation” or you sent, posted or published “messages, content, or materials that, in PayPal’s sole discretion, (a) are harmful, obscene, harassing, or objectionable.”

After an online backlash they pulled the language from their update. They called it a mistake, but once the internet outrage died down they brought it back.

Bilt Offering Free United Airlines Elite Status, 6x On Dining Spend For “Rent Day”

by Gary Leff on October 26, 2022

Oct 26 2022

October 1 was the inaugural Bilt Rewards ‘Rent Day’. There were some smashing deals, and they promised to be back monthly.

They’re back with some great offers including elite status with United Airlines – literally for everyone.

Citibank Testing Revamp Of Premium American Airlines Credit Card

by Gary Leff on October 25, 2022

Oct 25 2022

The premium American Airlines credit card, the Citi Executive AAdvantage card, is a bit of a throwback. The card has been largely unchanged since it launched in summer 2011. So it doesn’t have many of the benefits of other airline premium cards. However, it is by far the cheapest way to gain club access with American Airlines, since the price of membership has risen while this card’s annual fee has not. The card is overdue for a refresh.

Bilt Rewards Becomes One Of Fastest Companies Ever To Hit Unicorn Status

by Gary Leff on October 25, 2022

Oct 25 2022

Bilt Rewards, the loyalty program which lets you earn points for paying rent and which offers probably the single best no annual fee rewards card in the market (the Bilt Mastercard), announced a growth round of $150 million in new funding at a $1.5 billion post-money valuation. Their round was led by Left Lane Capital and included Smash Capital, Wells Fargo, Greystar, Invitation Homes, Camber Creek, Fifth Wall, and Prosus Ventures.

These things can be somewhat challenging to date, but it appears to me that Bilt Rewards is faster from launch to unicorn status than Square, Instacart or Twitter were. And there’s two reasons this strikes me as important.

How Capping Credit Card Interchange Hurts The Economy

by Gary Leff on October 10, 2022

Oct 10 2022

Where interchange has been limited, like in places such as Australia, credit card annual fees have risen since spend on the cards isn’t as profitable.

Europe, where interchange is limited and the use of cards as a payment mechanism is less common than in the United States (and cash more prevalent), is much poorer than the United States. That’s hardly the only reason, or the most significant reason. It’s a bundle of policies, and the U.S. would be ill-advised to follow European economic, financial and regulatory policy.

PayPal’s New $2500 Fine For Users Who Promote Misinformation Online

by Gary Leff on October 9, 2022

Oct 09 2022

PayPal updated its user agreement, and sent an email to business account customers, explaining that effective November 3 customers would be subject to $2,500 fines per instance of ‘promoting misinformation’ or “sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion, (a) are harmful, obscene, harassing, or objectionable.”

If they deemed you to promote messages they objected to 10 times, or to have spread misinformation (in their sole discretion) 10 times, they could take $25,000 from your account. It isn’t clear whether – if your PayPal balance was $0 – they could withdraw funds from your linked accounts, but other areas of its terms would suggest this possibility. After an online backlash they’ve pulled the language from their update.

Why Dick Durbin’s Stupid Bill To Limit Credit Card Interchange Might Not Kill Rewards Cards, After All

by Gary Leff on October 8, 2022

Oct 08 2022

There is, a path where credit card rewards survive this legislation if it’s passed. They’ll just look different. The key is that financial institutions with less than $100 billion are generally exempt from its requirements.