Do you plan to use it?
Challenges:
Make 20 transactions in November
Make $1,000 in deposits
Deposit $100 this week
...
NO MONTHLY FEES, NO MINIMUM BALANCE
I guess that it will have very high fees on every transaction, otherwise I don't understand how can this work (except collecting personal information/behavioral advertising).
Comment has been collapsed.
Yeah, the rewards are paid from merchant fees. Ofc, not to forget other fees like late payments and so on.
Comment has been collapsed.
The credit/debit card industry is perverse, in that it’s one of the few industries where they can make more money dimly by charging more.
Customers choose cards based on the best rewards. Rewards are paid for by charging merchants higher fees. Merchants generally have no say in the matter, they have to pay whatever the card companies ask. Then the merchants raise the prices for everyone.
FYI the average fee for a debit card transaction is $0.44, so 20 transactions costs the merchants $8.80.
Comment has been collapsed.
Some people still wonder why I pay with cash every time I can.
Comment has been collapsed.
One important question: did you read the regulations? (TOS)
I see that you MUST create an account to read them. There is no possibility to know them before applying? This is normal?
Comment has been collapsed.
That seems pretty suspicious: doesn't almost every program or website shows you the EULA and TOS that you have to accept no matter what before you give them any info?
Comment has been collapsed.
There is a FAQ placed at top-right.
But this doesn't look like TOS.
It's just an answer to a few questions.
Comment has been collapsed.
ToS and Promotion Rules are at the very bottom of the page, which is the normal location for such links.
Links to the FAQ can be found both in the top right and just above the bottom of the page.
We can also assume required adherence to any ToS issued by Mastercard, Piermont Bank, or any other intermediary involved.
Those giving the matter thorough consideration would want to check against Piermont (where you'd be forced to make a checking account to participate) and also to make sure no other groups are mentioned.
There does not however appear to be any method of checking against the ToS of the required mythia app without actually loading it, assuming it has more than just the site access ToS available on the mythia website.
Comment has been collapsed.
Previously when I've checked this site this didn't exist.
Comment has been collapsed.
This screams "pay me 100 dollars in advance or you won't get that free Cyberpunk we promised" and then it just turns out to be a scam.
That or it is going sell my most personal information to some random unregistered shady company in China or Nigeria.
Comment has been collapsed.
Nah. The Chinese already got your info from Russia. ;)
Comment has been collapsed.
Well unless you live in the middle of nowhere without any electricity then it's not possible to avoid that. That is the risk you take when you plug in your internet for the first time.
At least the Chinese and Russian government won't destroy my Email with poorly-thought out spam (give me something other than sausage enlargening ads and hot Belorussian women). Plus they already have all the money in the world they want so they don't really gain anything from scamming out 100 euros from someone.
Comment has been collapsed.
With the possibilities of a scam, not even sure why this even deserves the attention with a topic.
Comment has been collapsed.
https://help.mythia.com/en/articles/5086446-is-my-money-safe
Dunno why everything is automatically a scam especially when they have made it trivial to check it.
People don't seem to get that the card company takes about 2% of each and every purchase racking in millions easily, so ofc they have little left over to give couple dollar bundle games to customers.
Comment has been collapsed.
well you try it then but let us think what we want
Comment has been collapsed.
Why would I try it? And where did I tell others that they can't think anything they want? Or did you mean having static opinions with no regard to facts by thinking?
Comment has been collapsed.
One can debate if 2% fees are a scam on their own or not, i think The Netherlands been one of the few countries where a credit card never been normal, we got a service called Ideal and can use paypal.
Comment has been collapsed.
And everyone in NL buys everything online? You can use cards wherever including buying your groceries at your local supermarket with it. I'm still waiting for PP to be allowed as a payment method in Google Pay outside USA, then PP would be vastly more useful.
Digital Euro will replace all anyways :)
Comment has been collapsed.
i'm still waiting for BTC and such to be used on Ebay
Comment has been collapsed.
So instead of 2% the merchant fee is $50 no matter how little you buy?
Comment has been collapsed.
Have you ever looked at BTC transfer fees?
https://www.coindesk.com/bitcoin-transaction-fees-more-expensive-than-ever
Comment has been collapsed.
well whatever i don't trust paypal anymore than forced anyway and my bank is about as helpful as a bottle of solid paint most of the time - so no one is any good most of the time
Comment has been collapsed.
A bank card which is not a credit card, we pay 1,80 something per month for, but no purchase fees.
Comment has been collapsed.
As in a Debit card exactly like the Mythia one? The bank / card company does take the same fee from the store tho even if it looks cheaper to the customer.
Comment has been collapsed.
I am not really familar with debit cards, but it's not a thing i could pay things online with either when given that option, i really believe it's something slightly different.
Comment has been collapsed.
Yes it's the ancient version of a bank issued debit card only useful for ATM withdrawals and such and only in your own country, which were common before every card started being Visa/MC debit/credit. Been decades since I last saw one, because here they have been phased out to debit cards ages ago already. A pre-Internet age card with little or no benefits compared to a modern debit card that works globally.
Debit literally just means it takes the money from your account when paying vs getting a credit bill.
Comment has been collapsed.
It’s a debit card, not a credit card.
Average interchange fees are $0.44 per transaction
Comment has been collapsed.
Right you are, remembered it wrong that all cards are priced equal or it has changed a lot since I last read about it. Here it's 0.31% with min 4c and max 75c for debit and 0.9% with min 4c for credit.
Comment has been collapsed.
Ah, yes the "we investigated ourselves and found nothing wrong" thing.
I mean seriously, you're using their own page as proof that everything is above board?
Comment has been collapsed.
I mean seriously, you're not even reading the page as a proof that it's a scam?
Comment has been collapsed.
THIS. Seriously people are too fucking bored. It's like they want to be scammed.
Comment has been collapsed.
it is like most things - 100% USA only just talked to them
Comment has been collapsed.
I just deposited 100.000.000 million dollars!
Was rewarded with Fortnite 👍
Comment has been collapsed.
[Directed mostly toward the previous commenters:]
Okay, so- debit cards (AKA bank cards) link to a bank account and, at least in the US, are expected to not have fees of any sort. Their main issue is that they generally have reduced safety measures compared to a credit card and that they don't increase your (in practice absolutely absurd, nonsensical, and meaningless) credit rating. The plus side is that they have no fees, no hassle, etc. They're a matter of function for the associated bank account [read: a modern alternative to checks] and, in the case of the present majority* of them which are issued through credit card companies, pay their handling fees through the merchant or ATM fees (as any credit card does).
As for the rest, looking at the promotion rules, you get sweepstake entries based on each transaction or for every $50 added to your bank account (over withdrawals). The total prize pool is roughly $8,000. Compared to other signing bonuses provided by other banks I've seen, that's nothing [I've seen other banks offer several hundred dollars, guaranteed, in exchange for a set minimum balance over a set minimum holding term]. So the easiest explanation for "ohmigosh, why prizes?" is "marketing to get new customers at the associated bank".
Beyond that:
Signing up, and getting your Mythia debit card is free. There are no minimum balance requirements, no monthly or annual fees, and no surprise fees!
So we can skip the "scam" considerations (at least, beyond the caution we'd afford to any new venture), given that there's really not any need to scam over an $8,000 sweepstakes with clear benefits to the provider, and given that it has a clear declaration of no fees being in place. We can however, by that same consideration, realize there's not really any benefit to participation, given the presumably very low odds of winning anything (and, given that the majority of items have an estimated value of $0.75, an even lower probability of winning anything you'd actually care about enough to make the whole thing worth the effort).
Comment has been collapsed.
Don’t forget, because it’s attached to a bank account, it’s FDIC insured for $250,000 per account, so even if they go belly-up you won’t lose your money
Comment has been collapsed.
At least someone gets it. One could use it to buy games from shady sites if there are issues with PayPal use or something, Since it's prepaid you can't lose anything even if the card info gets stolen. And maybe earn a 3 cent game while at it.
Comment has been collapsed.
Hey everyone. I was browsing Product Hunt and saw this.
https://www.mythia.com/
Looks like they are giving loot boxes when you spend some money etc. It says Xbox, PS5 and some good games, but let's be honest mostly you will get free or almost free games.
Looks like it is US only, so I won't be able to use/try it. I am not sure if I would try it if I could as well, since I don't care about adding games for +1.
Anyway, I just wanted to let you guys/gals know about it. Check it if you want. I didn't put my referral etc. so it should be fine to post it here.
Comment has been collapsed.