Spot (CItibank) - Worst BNPL Service

Lnightmarez3k on 02/12/2021 - 01:40
Last edited 02/12/2021 - 08:04

Recently signed up with Spot.

The process wasn't too bad. But they did a credit check and affected my credit rating by 50 points.

Then the first gift card I receieved was $10 instead of sign up amount of $20. Next when they issued the replacement before I even got the chance to use it on Amazon. It was invalidated.

Then comes the call from one of their reps to ask about further information or my account will be frozen. Ask for DOB. Then ask who my employer was. Why would you ask this after someone has already been using your service. I fold the rep I am not comfortable about providing more information and I am cancelling my service. I will call them tomorrow rather than give my details over phone to some random.

This is not a credit card get over it Citibank.
Your dud BNPL sucks. Why on earth are you using same rules and processes of credit card for micro transactions.

So done with Citibank and Spot may your BNPL offering be a big writedown.

Financial

Related Stores

Citibank Australia
Citibank Australia

Comments

  • spiff on 02/12/2021 - 02:21
    +1

    Spotii is owned by Zip not Citibank. Citibank's BNPL is called Spot.

    • asrey1975 on 23/07/2023 - 20:06

      Well spotted! :)

  • dcep on 02/12/2021 - 02:22

    spotii =/= spot

    • asrey1975 on 23/07/2023 - 20:06

      I think you spotted the difference!

  • Hithere on 02/12/2021 - 07:54

    Feel better now OP?

  • nightmarez3k on 02/12/2021 - 08:06

    Edited thanks for pickup on Spot vs Spotii.

    Unbelievable. Just wanted people to know the frictionless disruption. Citibank is introducing in the payments space.

  • holdenmg on 02/12/2021 - 08:07

    I'm confused…

    I thought Spot was a Dalmation, but it seems like a Dog with Fleas.

  • Stopback on 02/12/2021 - 08:17
    +1

    Yep really bad connection on the phone as well.

  • spal on 02/12/2021 - 08:24

    Another new user/ ghost account to bag a service so that it comes up on review search.

  • pegaxs on 02/12/2021 - 09:43
    +3

    Oh no! Not 50 points on an imaginary scale that basically means nothing and would correct itself over time if you made payments on time.

  • SBOB on 02/12/2021 - 11:15

    This is not a credit card get over it Citibank.

    whats the difference?
    its an unsecured line of credit (though generally a smaller amount than a CC)

  • Baysew on 02/12/2021 - 11:25

    Nice try Mr Afterpay.

  • rektrading on 02/12/2021 - 11:32

    Citibank = ngmi.

    More legacy banks will follow.
    https://twitter.com/BitcoinMagazine/status/14661515570456207…

  • burningrage on 02/12/2021 - 12:37
    -1

    "The process wasn't too bad. But they did a credit check and affected my credit rating by 50 points."

    I stopped reading after this. Any BNPL that does credit check is a no no to me. Using own money to pay shouldn't be subjected to credit check.

    • pat25d on 02/12/2021 - 15:07

      Since when is Buy Now Pay Later using your own money? How is it any different to a credit card or mortgage?

    • SBOB on 02/12/2021 - 16:52

      Using own money

      you know what BNPL stands for right :/
      its literally the opposite of using your own money to walk out of the store with the item

      • burningrage on 02/12/2021 - 18:00

        Yea you got me there! My error.

        But I still prefer one that doesn't do credit check. It seems disproportionately harming your credit rating for a feature that is effectively layby (with the exception of being able to walk out of the store with the item) and linked to debit account for most users.

        • Ughhh on 02/12/2021 - 19:52
          +1

          Would you lend someone $2k without doing due diligence and checking if they're financially responsible?

          • Willy Beamish on 11/07/2023 - 11:20

            @Ughhh: If they were financially responsible they wouldn't need a 2k loan I would think. Don't these business make their money by getting people to use their services that are financially irresponsible?

    • brendanm on 02/12/2021 - 17:50

      Using own money to pay

      It is the opposite of this.

      • burningrage on 03/12/2021 - 08:04

        Yea you got me on this man. My error.

  • rektrading on 02/12/2021 - 15:39

    Diners Club is providing the credit for the purchase. They can legally run credit checks.

    Spot. Buy Now, Pay Later is issued by Spot Ventures, a division of Diners Club Pty Ltd (ABN 35 004 343 051 / ACN 004 343 051).

  • brendanm on 02/12/2021 - 17:51

    I've got a fantastic solution for your bnpl issues. Don't use it. Pay it in one payment. It's done, no credit checks, no worrying about when it comes out etc.

    • SBOB on 02/12/2021 - 18:37
      +6

      New huge market opportunity

      BNPN…..

      • holdenmg on 03/12/2021 - 03:08

        This will all end in tears.

        WNPN
        (Want not, pay not).

  • minksta on 11/07/2023 - 10:10

    Unfortunately we are unable to process your application, so waste of 20minutes plus credit check? Fantastic…..

    • nokia3660 on 11/07/2023 - 23:46

      same, no freakin reason given and I hold a citi Premium credit card with a 10k limit.

Login or Join to leave a comment
Login Join