In September of 2016, I had made a post on how to queue yourself for 3% Zero card. I say queue because back then the card was not even available. The product itself only launched in Q4 of 2018 and those who had done the small trick 2 years prior could right away get a credit card that earned 3% cashback. This credit card was marketed as a hybrid debit/credit card and somehow managed to code as debit card on Plastiq.
A 3% cashback card holder would earn 3% as usual but Plastiq would charge only 1% thinking it was a debit card. In other words, you were netting 2% profit. 2% profit is essentially $20 profit while making $1000 in payment. Not a big deal? Well, except some folks had found ways to cycle plastiq payments.
Fast forward to March of 2020, Zero credit card was axed through a facebook post:
To the Zero community,
Since 2017, we have worked tirelessly, building from scratch a next-generation credit card that has helped curtail excess spending. We’ve loved hearing your personal stories of enjoying a cash back rewards credit card designed to work with the spending oversight of a debit card and it’s been our sincere pleasure to serve you.
It’s with a heavy heart that we announce today, that this has led us to make the difficult decision to end the Zerocard program, and refocus our team on Level, our interest-bearing deposit account and cash back debit card brand. All Zerocard accounts will be closed. We’ve made this difficult but important decision, as it will allow us to continue serving our valued community long term.
Please note that this only affects Zerocard credit cards, identifiable as being on the Mastercard network. Zero Debit (Visa) cards will not be affected by this announcement.
If you have any questions about this news, please email us at support@zero.app — we are here for you 24/7 to help you through this transition and do whatever we can to accommodate you.
Sincerely,
Bryce Galen
Founder & CEO, Zero
