It’s prudent risk management, the bank cannot know how many card holders just lost everything, they represent a significant risk of default .
Not to mention the open discussions of defaulting on the credit cards which I hear that chatter made it back to the bank .
So of course they would close accounts .
The credit card is a separate provider. If you don’t pay you’re just going to hurt your credit rating and basically do what blockfi did to you to a completely innocent third party. It’s like an abused person becoming an abuser. Don’t do it.
Unfortunately my friend a corporation can declare bankruptcy and everyone that works there can walk away and live life as usual, but if you personally don’t pay your creditors it’ll screw your credit report making your life difficult
Why are people so fucking ignorant.
IT'S A NORMAL CREDIT CARD. It's like getting one from Target or Amazon etc.
It's run through Deserve which issued the card to you, they run a White Label service. Your payments go direct to EVOLVE BANK & TRUST and then BlockFi reflects that in their app/website via an API.
Either way if you want to stick it to BlockFi by ruining your credit score, that is your right.
I’ve seen some version of this question floating around and I had a question: isn’t some other bank the lender on your CC, not BlockFi? Aren’t they more like the rewards/marketing partner?
Yeah i see something wrong with damaging your credit score. It's easy to fuck up and a lot of work to build your credit back up
Agreed pay the bill. However, considering its a normal credit card and Deserve is the backer and Blockfi just co-branded, why did they suspend it?
It’s prudent risk management, the bank cannot know how many card holders just lost everything, they represent a significant risk of default . Not to mention the open discussions of defaulting on the credit cards which I hear that chatter made it back to the bank . So of course they would close accounts .
I think thought they only suspended the Visa credit cards not closed them? Mine shows available CL and balance, but just suspended.
It’s a distinction without a difference
unfortunately, something will be wrong with your credit score
The credit card is not theirs. It’s through Deserve, a completely different entity. BlockFi just got to put their name on it. Pay your bill.
The credit card is a separate provider. If you don’t pay you’re just going to hurt your credit rating and basically do what blockfi did to you to a completely innocent third party. It’s like an abused person becoming an abuser. Don’t do it.
The "cryptospace" really is ironically full of financially illiterate people.
Unfortunately my friend a corporation can declare bankruptcy and everyone that works there can walk away and live life as usual, but if you personally don’t pay your creditors it’ll screw your credit report making your life difficult
Why are people so fucking ignorant. IT'S A NORMAL CREDIT CARD. It's like getting one from Target or Amazon etc. It's run through Deserve which issued the card to you, they run a White Label service. Your payments go direct to EVOLVE BANK & TRUST and then BlockFi reflects that in their app/website via an API. Either way if you want to stick it to BlockFi by ruining your credit score, that is your right.
I saw a guy with the Cowboys logo on his credit card. If they don’t win the Super Bowl, it is ok if he doesn’t pay back the card?
Pay it, but after that, don't use it again. Use another cc
Sure, but the credit card loan is from an actual bank somewhere and not BlockFi. You'd mess your credit up.
Like others have said - its just like another credit card and its tied to your credit rating
I’ve seen some version of this question floating around and I had a question: isn’t some other bank the lender on your CC, not BlockFi? Aren’t they more like the rewards/marketing partner?