Credit Cards

Brim Mastercard - No-Fee Foreign Exchange Card!

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Newbie
Feb 6, 2018
54 posts
35 upvotes
nmclean wrote: Now that you've defined your terms as ultimately leaving = failure = bungled launch... I posit that Brim, should it ever launch, will also not last until the end of time. Thus, they bungled their launch as much, if not more, than Chase Amazon. "Logic" doesn't seem to be your strong suit, either.
You must have missed the part where I said it is PREMATURE to say that Brim bungled their launch. That is the key word here, PREMATURE.

We need to wait and see and then decide whether the launch was a failure. At this time, it sure looks like a great success: Amazon adoption, font page of Globe and Mail, and major brands (e.g. Uber Eats) signing up to their marketplace. But all of that may not lead to success in the end.

We need to wait and see. We need more data about card use and people's experiences to determine whether company fails or succeeds and so whether launch was a success or failure. It is too premature to say one way or the other.
Newbie
Feb 6, 2018
54 posts
35 upvotes
EdisonL299 wrote: Are you sure Brim WE can beat HSBC WE if you spend less than 25K a year, on the fact that Brim WE’s annual fee is much higher? The Brim WE don’t even come close to the Rogers WE (no annual fee, unlimited no cap 1.75% and 1.5%) because of rediculous annual fee and 25K 2% cap.

After they secretly increased the annual fee to $199, I’m sure it will be a failure.

Edit: if you factor 3% travel, and you and your family travel at least once per year, HSBC WE will be better.
Brim offers no FX, 5x on travel and 4x on amazon (up to $10k) and yet to be seen savings and perks with various merchants in its marketplace. Accordingly, it is not quite wise to make such premature predictions about whether card will be a failure or not.

And many may switch to Brim just for all the innovative features and state of the art tech such as ease of award redemption, pin change through app, and ability to block foreign, online, or all purchases on your own without calling a rep.

I also do not like the fee increase to $199 but I have a year to decide whether to stick around or leave. It all depends on how the next 12 months fare.
Newbie
Feb 6, 2018
54 posts
35 upvotes
mech9t5 wrote: It has been a week since a couple people said they were approved but no one posted here receiving an actual card either. Shouldn't take a week to get mail to someone in GTA.
Yes something is not right here. We should have received the cards already.
Deal Addict
Feb 6, 2018
1274 posts
1021 upvotes
JeremyM967576 wrote: We need to wait and see and then decide whether the launch was a failure. At this time, it sure looks like a great success: Amazon adoption, font page of Globe and Mail, and major brands (e.g. Uber Eats) signing up to their marketplace. But all of that may not lead to success in the end.
JeremyM967576 wrote: Accordingly, it is not quite wise to make such premature predictions about whether card will be a failure or not.

And many may switch to Brim just for all the innovative features and state of the art tech such as ease of award redemption, pin change through app, and ability to block foreign, online, or all purchases on your own without calling a rep.
so is it wise to make such premature predictions about whether card will be a failure or not? since you said its "it sure looks like a great success".
Newbie
Feb 6, 2018
54 posts
35 upvotes
terracotta92 wrote: so is it wise to make such premature predictions about whether card will be a failure or not? since you said its "it sure looks like a great success".
I did not say it was a great success. I said it looks like one. Huge difference.

I explained why:

a) On launch date, they were all over Amazon homepage, and even had a Brim section on Amazon site with an installment calculator directly integrated within Amazon. I have not seen that kind of push to any other party by Amazon before. That is huge. Not only do they appeal for Chase refugees but also Amazon users with Amazon blessing and push. Amazon picked them over Scotia. How can this be anything but beyond impressive? Again...Amazon picked them over Scotia, one of the Big 5 with 0% FX.

b) They were on the front page of the business section of Globe and Mail (the Toronto's equivalent of the New York Times) in an article authored by one of the most respected business and finance journalists in Canada. This is not something you can buy. So basically the Globe and Mail is backing them up.

c) Major brands (such as Uber) have signed up to their marketplace. So Uber is now supporting them as well.

Do you see the trend above?

All the factors above lead me to believe that the launch may have been quite successful. Even very successful. But whether it actually is remains to be seen based on what unfolds over the next few months or even couple of years.

It is premature at this time to render judgement but there are no signs of Brim failing their launch. They have delayed it yes. But for sure, nothing suggests at this time that they bungled it.
Deal Addict
May 16, 2017
1361 posts
1666 upvotes
JeremyM967576 wrote: You must have missed the part where I said it is PREMATURE to say that Brim bungled their launch. That is the key word here, PREMATURE.

We need to wait and see and then decide whether the launch was a failure. At this time, it sure looks like a great success: Amazon adoption, font page of Globe and Mail, and major brands (e.g. Uber Eats) signing up to their marketplace. But all of that may not lead to success in the end.

We need to wait and see. We need more data about card use and people's experiences to determine whether company fails or succeeds and so whether launch was a success or failure. It is too premature to say one way or the other.
Success "in the end" is when? Long-term success of the business? That is NOT "launch". I work in the satellite related business, a successful launch means the payload got into the correct initial orbit, not that it works long term or even initially as projected. The "launch" period for BRIM ends when a reasonable amount of cards actually reach consumers and are READY to be used. Making this about long-term business viability is a completely different business issue than launch.
Sr. Member
Apr 23, 2017
965 posts
1619 upvotes
JeremyM967576 wrote: I think this answer is too simplistic.

Brim WE gets you 2x points on Amazon purchases ON TOP of your 2x standard WE. So if you do most of your shopping on Amazon, you can get 4x the points on up to $10k, and so an extra yearly saving of up to $200 that is not factored out in your post HermanH.

Brim is also advertising 5x on travel. We do not have much info on the details on that yet. But that again is not factored in here.

Brim is also offering a marketplace. Not sure how that would work but so far we know that Uber Eats is one participants. This maybe a game changer if there are enough merchants that sign up.

So the numbers above may be significantly underestimating Brim savings.

I think in the end it will boil down to Fx purchases, amazon purchases, marketplace place purchases, and travel purchases. Potentially more factors will come into play as we get more info of what the Brim offerings will ultimately be.
Yes, my example is simplistic. I prefer to look at an individual's credit card statements for the last 12 months and categorize their individual spending patterns so I know how much they spend on Amazon, whether they book travel through a portal or direct with airlines, what they spend on foreign purchases (and what foreign spend is in bonus categories) and of course the overall yearly spend. Then I can tailor a list of exactly what card rankings are for that person with great accuracy. When one looks at hypothetical situations it gets tricky as one doesn't know exactly what features or benefits a cardholder will use, and if we say he or she will use none, it can tilt the figures one way, and if we say they will use all the features it can tilt things in another direction. In this hypothetical I am just trying to be fair to both cards and look at the standard rewards rate gross/net taking AF into account. One could for example say the Amex Platinum Card is a great value because one gets unlimited airport lounge passes, and if one used 100 lounge visits per year at a coat of $30 each that would be $3,000 in value. Yes, some cardholders probably use 100 visits per year, but I don't, and I would guess most Platinum cardholders don't use that many either, so I would be reluctant to put a set dollar value on that lounge benefit in a comparison of card rewards.

Brim's travel portal idea sounds like a good plan. The most noted example discussed on RFD is the TD Expedia travel portal that gives a 4.5% earn. If Brim comes out with a 5x travel portal that would be a big plus for them as they would be 0.5% above TD's earn rate and would take the title from TD as the highest earn on a card-linked travel portal. We need to wait for Brim to launch their travel portal and then we can see how it works and do a detailed comparison to the TD one. If Brim cardholders used the travel portal their annual return factoring that in would increase. The HSBC W.E. card does give 3% on travel spend up to a cap of $80k (so up to a max of $1,200 in bonus 1.5% earn over the base 1.5% earn - 3% total). I didn't factor either card's travel bonuses potential into my numbers. I'm not trying to underestimate Brim W.E.'s earn potential - I'm just trying to be fair based on what is known at this time. I didn't include Brim's Amazon bonus earn, but I also didn't include HSBC's $100 travel credit either, to try to focus on jus the base reward earn rate.

What would be interesting is to do a comparison between the small group of cards that offer no FX, in which we take actual examples of past year's spend and categorize things like travel spend and assume the travel spend is put through each card to reach a more advanced comparison. My collected data is primarily for high spenders ($30k to $230k per year in card spend) so doesn't really reflect the average cardholder's behavior to draw from. An average cardholder would, according to some statistics, spend about $1,600 - $2,000 per month on a card. A good comparison in the premium category would probably include Brim W.E., Scotia Passport Infinite, HSBC W.E., Roger's W.E (not no-FX but gives bonus earn on foreign spend and is well-liked on RFD so best to include it or people will ask why it was excluded). For this to be accurate multiple scenarios would need to be taken into account, such as cardholders who use Amazon spend bonuses, travel portal spend, etc. as well as cardholders who don't use those features. Would you agree this would be a fair test method?
Deal Addict
Feb 6, 2018
1274 posts
1021 upvotes
JeremyM967576 wrote: All the factors above lead me to believe that the launch may have been quite successful. Even very successful. But whether it actually is remains to be seen based on what unfolds over the next few months or even couple of years.

It is premature at this time to render judgement but there are no signs of Brim failing their launch. They have delayed it yes. But for sure, nothing suggests at this time that they bungled it.
so the 5-month delay of releasing cards is not considered as a "sign of Brim failing their launch"? how can a 5-month delay be a "very successful" launch? sorry i can't comprehend how a 5-month delay is not considered as a failure.
Member
Jul 2, 2013
331 posts
110 upvotes
VANCOUVER
BRIM OFFERS 0X BECAUSE THEY HAVEN'T LAUNCHED THEIR CARDS YET!
Deal Addict
Nov 25, 2014
1739 posts
949 upvotes
Newton Brook, ON
JeremyM967576 wrote: You must have missed the part where I said it is PREMATURE to say that Brim bungled their launch. That is the key word here, PREMATURE.

We need to wait and see and then decide whether the launch was a failure. At this time, it sure looks like a great success: Amazon adoption, font page of Globe and Mail, and major brands (e.g. Uber Eats) signing up to their marketplace. But all of that may not lead to success in the end.

We need to wait and see. We need more data about card use and people's experiences to determine whether company fails or succeeds and so whether launch was a success or failure. It is too premature to say one way or the other.
I didn't miss anything. In your terms, the Amazon Visa bungled its launch because it eventually stopped doing business. Of course, you use different definitions of "bungled" and "launch" than any English speaker I've met, but I was just accepting your terms and following your logic to its conclusion. Accordingly, the only way you could say it "looks like" Brim isn't going to have a bungled launch (in your terms) is if you're predicting it won't eventually stop doing business. This is a bold claim for any product, even more so in the ever-changing credit card marketplace.

Obviously this isn't a rational argument and you're grasping at straws. You're grossly exaggerating both the "failure" of other products and the "success" of Brim, but why? I mean, a lot of us still have hope for their success, but we're not in denial. The top results for Brim are still "Brim Financial Mastercard appears too good to be true" and "What the F is Going on With Brim Financial". Now even though they've received 95% negative press and Amazon pulled their premature promotion within a few days while Brim continued to leave people in the dark, you're still spinning these as positives. And G&M's puff piece wasn't really "front page" unless you mean scrolling halfway down the entire business section. This sort of tunnel vision isn't helping to deter the image that you're somehow personally invested here. Why so much spin?
You need someone with an umbrella not a fork
Sr. Member
Jul 13, 2016
776 posts
459 upvotes
JeremyM967576 wrote: Brim WE gets you 2x points on Amazon purchases ON TOP of your 2x standard WE.
Are you sure it's "on top"? I see no mention of it on their website.
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User avatar
Sep 19, 2013
2330 posts
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Winnipeg
JeremyM967576 wrote: Brim offers no FX, 5x on travel and 4x on amazon (up to $10k) and yet to be seen savings and perks with various merchants in its marketplace. Accordingly, it is not quite wise to make such premature predictions about whether card will be a failure or not.

And many may switch to Brim just for all the innovative features and state of the art techsuch as ease of award redemption, pin change through app, and ability to block foreign, online, or all purchases on your own without calling a rep.

I also do not like the fee increase to $199 but I have a year to decide whether to stick around or leave. It all depends on how the next 12 months fare.
Isnt it premature to say that Brim offers these things, they are just on paper at this point. Its premature to say it has state of the art tech and the features. At this point, it doesnt even have a card, let alone all these features.

I am curious to know why do you keep defending the card as if you are the one offering it personally. You dont need to share the reasons, but just curious, thats it.
In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move. -- Douglas Adams
Deal Fanatic
Dec 16, 2005
5245 posts
3249 upvotes
did they say their app was also supposed to be available this week? I guess since no one got their cards, it doesn't matter.
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Aug 10, 2008
5451 posts
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amitdi wrote: I am curious to know why do you keep defending the card as if you are the one offering it personally. You dont need to share the reasons, but just curious, thats it.
#BrimDamageControl

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