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a credit card that allow you to use points you earn as cash anywhere
You know companies like studentadvantage or coolsavings allow you to recieve points for buying items at online and offline stores they are affiliated with,
Well i think this concept is cool, but i wish you could use the points you earn anywhere, not just the stores they are affiliated
My idea is to start a company that will allow the ecard member to use their points anywhere they want. It will work similiar to coolsavings, you will recieve points based on how much you spend at our partner online or offline stores. Example a ecard member spend $1000 you will recieve 1000 points. The 1000 points will be equal to $50.
The $50 will be added to your ecard. The ecard will be like a credit card (Visa or Mastercard), but work like a debit card. You can use the card anywhere to buy cloths, food, gas, whatever.
So basically, When you buy online, you get points, the points you can use at any online or offline store, because its a credit card, and the points really equal cash. Its kind of a rebate in which you can use for anything
Is this idea bake?, if so i want to get a card like this...
Credit cards with cash rebate programmes
Up to 2% cash back (that's only $20 for your $1000, but hey) from American Express, Discover Card, or Visa. [jutta, Aug 08 2001]
||I don't know of this being baked but there is a problem you might want to consider.
||The reason you are offered just a small set of stores is because they are promoting these stores in the process or trying to share customers. If they offered cash it would probably be considerably less than other schemes would offers as the points scheme simply become a price reduction with less room for manoeuvre and negotiation with other businesses.
||What [Aristotle] said. With any idea like this you have to ask yourself where the money's coming from. You want to get points from one retailer and spend them at another, so is retailer 1 raising his prices (ie, *selling* you the points) or is retailer 2 raising *his* prices (to compensate for *giving* you the redeemed-points-goods)? It has to be (at worst) zero-sum for the retailers, so you're not gaining anything unless you can figure out which of the above scenarios applies, and position your purchases accordingly.
||Wow, free money. Sounds good to me.