Farewell, Oxygen & Onyx Cards // Fintech's Latest Casualties

[@JustinColeYT1]

Apparently there is going to be a new Douugh card coming soon, unsure if it’s going to be a debit card or credit card, other than the fact that it’s a Mastercard. I’ve also seen some companies transitioning from the debit card business to the credit card business. I feel like some of these companies are doing just that, which kind of sucks. Even some companies have “credit builder” cards, which just overall feels like a big scam. Rewards Debit Cards are the way to go. Also, Chocolate Milk prices are dropping… at least by 5 cents, so that’s news to me lol

[@CalebBaleFinance]

Really? I hadn't heard that, but then again, it's hard for me to keep up with everything. Shoot, I hear a lot of news from people letting me know about it, then I research. I agree, I've seen a lot totally transition to credit cards instead like Point (though I don't know if they've made any progress with their next card). The credit builder cards seem like they're becoming very popular with the FinTechs and I've even had some reach out to ask if I'd review them but I really don't have an interest in it. I'll have to check the chocolate milk prices lol. 5 cents is 5 cents!

[@RonnieM90]

I disagree about credit builder cards being a scam because some of them work like debit cards. This means you will not get into debt because you are only allowed to use the money that you have already deposited into your account. They also help you build credit. I believe Varo, Chime, Current, Credit AI, and Credit Sesame all have credit builder cards that work like this. I believe One Finance is also planning to have a credit builder card in the near future.

[@Slaize]

There's not much money to be made in these no fee accounts. It's more of a tech play usually and a hope to sell. Interchange fees aren't going to sustain them on debit cards for too long. The "credit builder" cards that offer no rewards but earn higher interchange fees are far more likely to be profitable but tend to lack the interest charges where the bigger money is.

[@CalebBaleFinance]

@@Slaize Interesting, thanks for the insight!

[@NatePolmateer]

Caleb great video again bud! ❤ Been silently watching in the background. 😂

[@CalebBaleFinance]

Thank you sir! Hey I hope you and your family have been doing well! Been missing your videos on here

[@NatePolmateer]

@@CalebBaleFinance we have been working on my masters. Do miss making them maybe I'll try doing one a month or so to get back into it. We are planting a church in the next year or so as well so lots going on. 🧡👊🏼🙏🏻

[@CalebBaleFinance]

@@NatePolmateer Masters of Divinity or something else? That's awesome! Praying all goes well as you all do some planting.

[@NatePolmateer]

@@CalebBaleFinance yeah exactly masters of divinity.

[@taylorporsha538]

What would be a good first time credit card the one the our lender suggested is open sky and first progressive but they don’t have very good reviews

[@CalebBaleFinance]

I'm afraid I have no suggestions! Because my channel is all about getting rid of credit cards, which is why I review so many debit cards. If you have any debit card questions, I may be able to help but otherwise, I'm afraid I can't make any credit card suggestions

[@40andBroke]

Yes! Every video need an intro from Caleb Allen Poe!

[@CalebBaleFinance]

Ha! Caleb Allen Poe has a hilarious ring to it. Maybe I'll do some more poems lol

[@Floof_Factory]

onyx card concierge service seems like it might be worth it as an alternative to the amex platinum and visa infinite concierge service

[@CalebBaleFinance]

Yeah bummer Onyx is done now!

[@336squad6]

How do I get my money from oxygen it’s time to sue because they closed my savings account and won’t give me my money and they closed customer service

[@CalebBaleFinance]

My best guess is following the methods to contact them through the emails that have been sent recently. Sorry, that’s all I’ve got

[@TheLordJC]

So, Oxygen is NO MORE? ------ Their website IS STILL alive though....Also....> Oxygen is a financial technology company, NOT a Bank...... & as well....ONYX is closed...at least for consumers.

[@CalebBaleFinance]

It seems that way though I don't know why the website is still live.

[@kawasakiskatesnyc]

Ugami gaming debit card is shutting down.

[@CalebBaleFinance]

Geez, another one!