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Turning Mortgage Payments into Rewards

Suggested by AJ Anil Jindia for Unmet Needs on Oct 27, 2021

Upvoted by Brett WischowAJ Anil JindiaMR Mike Rodman Michael Nwogugu

Comments

AJ
3 months ago

Co Founder @ Dwellito

Im guessing car payments, rent and mortgage are 2 of the biggest expenses that come directly out of peoples bank accounts every month. I get why they cant be paid via credit card in a traditional sense, but in a world where Visa and Mastercard are more open to innovation, what if a company came together to qualify people and charge them nothing to pay via a credit card / cash card somehow that would earn them rewards. The company would need to take a spread of the transaction fee and the loan provider would need to agree to a small transaction fee, which they could technically pass on to the customer in disguise. The customer would likely not care as much if they are getting lots of rewards making it worth it..

Jeremy Burton core team
3 months ago

CEO / Founder @ Platform

Check out Gravy. Spoke to one of their founders recently.

AJ
3 months ago

Co Founder @ Dwellito

gravy.co looks real smart with a business model that generates revenue from agents and it looks interesting in that they dont need to have a direct relationship with the landlords, which makes it easier to get people on board. I could see home loan originators or car loan companies looking for competitive advantages right now to get a customer. It feels like they both have a have a high CAC tolerance and they all compete with each other on credits/points. im guessing they could be interested to test out some differentiated offer that let customers earn rewards like airline miles etc. I know I would be enticed by that since both my mortgage and monthly car payments are large sums every month!