Comments on: Welcome to Blingola

By: Josh Streufert

Josh Streufert — Thu, 11 Sep 2008 01:14:49 +0000

It goes without saying that the “gamble” of offering the high 9.5% deposit yield is paid for by the return on the high APR — and the obvious fact that most of the cardholders will live with a negative balance. The overall strategy is akin to Las Vegas comps. You pay at the craps table.

What I think is most clever about this branding: it’s almost guaranteed to turn off (i.e. offend) the high-deposit, unprofitable, financially stable individuals — the folks already well served by UBS and others — while simultaneously attracting the high-profit, high-debt, credit driven consumer.

Pretty darn smart.

By: Jimmy Marks

Jimmy Marks — Thu, 11 Sep 2008 01:06:50 +0000

From an advertising/PR standpoint, the cards remind me of those CapitalOne cards that you can put your own picture on with some web uploading. More and more, Credit and Debit cards are becoming a reflection of ourselves. But personally? I’d rather know the money in my account is safe than pretty. Interesting point: AmEx offers something called the “Black” card that only the Super Rich can afford. There’s a $2500 membership fee and you have to spend a quarter million per year. Talk about “bling bling”.

By: Jeffry Pilcher

Jeffry Pilcher — Wed, 10 Sep 2008 19:26:52 +0000

I really like the card concept that switches back-and-forth between a deposit- and credit account, but I have no idea if (1) it’s legal in the U.S., or (2) if a financial institution can make money with it. But it’s smart, and someone in the U.S should find a way to offer it if the answers to both questions is “yes.”

By: Jimmy Marks

Jimmy Marks — Wed, 10 Sep 2008 18:02:19 +0000

I’ve been to Blingola. It’s a bit of a hike from where I live, which is “Live within my means-opolis”.

Question, Jeffry – how on EARTH do they offer a program like this? Would it ever work here (note: not the branding…no CU on EARTH would take on branding like this. I meant that aggressive rate).