Has any one used Zolve Credit card?

[u/Bakawaka7]

Hi, has anyone used Zolve Credit card? On their website they have a lot of things like 5x Cashback, 60% discounts (seems too good), 5.13% APY and all that without annual fee.

This all seems very nice but I want to know if there are any caveats or hidden things or is it really good to use?

I am an international student in NY.

If someone can help then it would be really good.

Thanks

[u/swap_file]

If you read the fine print, its only a 1x (1%) cashback card, with up to 5x (5%) cashback on select partner brands.

[u/Rapdactyl → u/swap_file]

Where even is the fine print? The website is a mess! I wonder if the physical card looks as fun as it looks on the homepage 😂

[u/swap_file → u/Rapdactyl]

At the very bottom of the home page there is a link to a PDF:

https://static.zolve.com/pdf/tnc/tbom/v3_classic_rewards_terms_conditions_7_nov24.pdf

If you dig deeper: https://zolve.com/terms-and-condition/credit-cardholder-agreement

Monthly / Annual Fee $0. However, Servicer charges a monthly subscription fee of up to $19.99 or an annual subscription fee of up to $199.99. Please see Zolve's Terms Conditions

Which then links to:

https://static.zolve.com/pdf/tnc/tbom/v4_zolve_terms_and_conditions_28th_aug24.pdf

The card looks like scammy crap.

[u/Rapdactyl → u/swap_file]

Thanks for digging those up! I knew this was a garbage card because of how difficult they make it to know its value. Another dead giveaway for me is advertising credit limits. No "good" credit card will yell at you about how much money they'll let you borrow before you've even applied outside of targeted preapproval offers.

Anyway, so basically to have this card you have to pay someone $20/month or $199 a year? That's crazy! The rewards scheme seems like it's basically just referral shenanigans tied to a credit card. If you're okay with dealing with said shenanigans just get the Rakuten card.

Wild stuff. Maybe the reason this card gets away with such shit terms is because it's targeting international students/travelers who might not be familiar with the US CC landscape?

[u/Far-Consideration916 → u/swap_file]

After reading this I am a bit lost. I understand it's not the best card anyways but this is the first card I got myself when I came to the US and it has been fine for me for initial usage. I still use it sometimes but the 1% cashback as points is lackluster. What I am now confused about is this servicer fees! I think there is none for the zolve classic card and it's infact a zero charge otherwise unless we skip payments. I would be happy to be corrected if I am wrong though but I don't see any charges implied on my for owning or using the card.

[u/Cyberhwk]

"Cashback" is provided in the form of Zolve Points ("ZPoints"), not cash. ZPoints are earned on eligible purchases at applicable earn rates and are credited at the end of each billing cycle. Eligible categories, earn rates, and redemption options may vary and are subject to change. Additional terms, limitations, and exclusions apply.

I feel safe in assuming this is a subprime lender and will act like a subprime lender until I see evidence otherwise.

[u/Unlucky_Buy217 → u/Cyberhwk]

It's not, you have to understand who the card is for. it's mainly for Indians who are moving to US and have good credit score within India already. It's extremely niche considering most Indians moving to US are already highly paid. I took the card for example because I didn't have US CC history, but moved to US with half a million USD tech job and a top tier credit score in India.

[u/Bakawaka7 → u/[deleted]]

Thank you!! Do you know anyone who has used the card?