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Vital Credit Card Review: Earn Endless Cash Rewards By Spreading The Word

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There’s no doubt that many credit cards offer great perks. From reward points to special discounts, I definitely enjoy the credit cards I use.

Responsible card users can get a lot from opportunities like these. But a new credit company is launching, and it’s changing the game in a major way.

The VITAL credit card is a card that earns you cash back, but the cash back isn’t based on your spending. Instead, you get cash back for getting other members to sign up.

This sounds pretty ideal, doesn’t it? Of course, you may be wondering if there’s a catch. Find out everything you need to know in my VITAL credit card review.

The History Of VITAL Card

vital card what is

VITAL Card is a brand new concept and company, so there’s only a bit of history to cover. The company was founded in 2017 by Chris Bridges and Vincent Bradley. According to Crunchbase, VITAL Card is based in New York City.

The VITAL Card website says their team consists of entrepreneurs, bankers, creative techs, and lawyers. Additionally, these team members have worked with Google, Charles Schwab, and other major companies.

Their mission is to offer a credit card with a community-based rewards system. You can follow their blog if you want to stay updated on the company and what they’re all about.

How Does VITAL Credit Card Work?

VITAL is a credit card that offers referral-based cash rewards. For each person you get to sign up, you’ll earn VITAL points that determine your VITAL score.

You also get cash rewards when your referrals get additional users to sign up. On top of this, you’ll get 1% cash back on all of your purchases.

The exact amount of cash rewards you’ll earn depends on your VITAL score. It also depends on the cash rewards pool, which I’ll explain below. The How VITAL Works page provides a simple but great example of how much you can earn.

You can sign up for early access with no strings attached, and you’ll get access to the VITAL potential earnings calculator. I’ve included some images from the VITAL calculator. You’ll see real cash earning examples directly from VITAL.

I’ll also explain the points and scoring system later in this post. You can see the benefits and risks for yourself and see what you think. You may decide that this unique credit card is right for you.

VITAL Credit Card Eligibility

VITAL is currently in the pre-launch stage, but you should still make sure you meet their requirements. This will boost your chances of being approved during the launch in late 2018. These are the basic requirements they’ve announced so far:

  • You must be 18 years of age or older. Residents of Nebraska and Alabama must be 19 or older.
  • You must be a permanent resident of the United States. They mention on their website that this is their initial criteria, but to stay tuned for any updates.
  • You must have a physical address in the US. You can add on a PO box address later, but you’ll need to start with a residential one.
  • You must pass a credit check. VITAL does say you can apply with minimal credit history or no credit history.

The VITAL website there are underwriting criteria you’ll need to meet, too. This essentially means that they have a few additional undisclosed qualifications.

It’s important to note that signing up for early access is just the first step. You’ll need to fill out a full application during the late 2018 launch. In the meantime, you can start referring others and building your VITAL score. Read on to learn more about referrals and the scoring system.

What Happens If Your VITAL Application Is Denied?

At this point, you may have a major question – I certainly did while researching. What happens if you get several users to sign up during pre-launch, but your application doesn’t get approved?

Do you lose out on all of the cash rewards? Fortunately, VITAL Credit provides a clear answer for this problem.

First, they fully acknowledge that not every single application may be approved. It’s up to their banking partner to accept or reject applications. But they do state that if you’re eligible for most entry level credit cards, you’re very likely to be approved.

And if you are denied, that’s not the end of the line. If you aren’t accepted, VITAL Card will let you transfer your VITAL Score to someone else with good credit. You can choose any friend or family member for this. This means you can still get your cash rewards through the approved person.

Overall, this does mean that you’re taking a small risk. I think it’s a good sign that VITAL is pretty transparent about that. The good news is that you have nice approval odds and can still get rewarded. If you don’t mind these conditions, then you can feel confident about referring others.

How Does VITAL Pay Their Users?

This is another one of the biggest questions I had about VITAL. How can they afford to pay so many members? It definitely seems like a great system, but I wondered how they’ll be able to keep it up. I discovered that the money comes from the VITAL cash rewards pool.

Each month, 1% of user spending is added into the VITAL cash rewards pool. Let’s say that 100,000 users collectively spent $500,000. At the end of the month, that $500,000 is split up among VITAL users.

How much you get depends on your VITAL score. This sounds a little confusing, but I’ll provide more details and examples below.

VITAL Points And VITAL Score

Your VITAL score based on the number of VITAL points you earn. You earn points by referring friends and family to sign up for VITAL. Here’s a layout of the points system. I’ve used a small scenario to make it easier to understand.

  • Direct Sign-Ups: You earn 4 points per person you get to sign up. You share your referral link and get five friends to sign up. You earn 20 points.
  • Second Tier Sign-Ups: You earn 2 points per person when your direct referrals get others to sign up. Let’s say your five friends each get five more friends to sign up. You earn 50 more points and have 70 total points.
  • Third Tier Sign-Ups: You earn 1 point per person when your indirect referrals get others to sign up. You have 25 indirect referrals, and they each refer three friends. You earn 75 more points and have 145 total points.
  • Your VITAL score at the end of the month is 145 points.

To sum it up, your points are based on a basic three tier referral system. There’s no limit to the amount of friends and family you can refer. This essentially means you have endless chances to keep growing your VITAL score.

The higher your score, the higher your monthly cash rewards will be.

How Much Can I Earn With VITAL?

There is not a definitive conversion system for VITAL cash rewards. VITAL adds up the total scores of every user at the end of each month. How much cash you’ll receive depends on two factors. It depends on your individual VITAL score and the overall size of the cash rewards pool.

Again, the size of the cash pool is based on the spending of VITAL members. When a VITAL member uses their card, 1% of the transaction goes toward the VITAL cash rewards pool. Naturally, this amount will vary each month. That means the amount of cash you’ll get varies each month.

On the How VITAL Works page, they provide a very detailed scenario. You can also access a VITAL potential earnings calculator once you sign up. I did this to see real examples of how much you can earn with VITAL.

The interactive tool is very helpful, so I suggest trying it out.

Does VITAL Charge Any Fees?

VITAL doesn’t charge any annual fees, which is a nice incentive for any credit card user. You’ll be responsible for paying your monthly credit bill like you would with any other company. Of course, failure to make payments can lead to fees and hurt your credit score.

VITAL Credit Card Pros And Cons

There’s a lot of information in my VITAL Card review, so I’ve summed up the major points below. They’re divided into pros and cons list to keep things simple. I think these are the important factors you need to know before getting a VITAL card:

  • There’s no annual fee.
  • You’ll earn 1% cash back on all of your purchases.
  • The referral-based system is unlimited; you can refer and earn permanently.
  • Earn cash rewards when your referrals get new users to sign up.
  • You can build your credit score with responsible use.
  • Your referrals only have to spend $1 per month for you to keep earning.
  • To keep earning rewards, you need to spend $250 per month or more.
  • It’s possible that your application will be denied after pre-launch.
  • The amount of cash you earn each month will fluctuate.

There’s a pretty fair balance of pros and cons here. The cons are pretty minor though. The only one that really stands out to me is that you need to spend a minimum of $250 each month.

Doing this is easy if you use your VITAL card for your basic monthly purchases – groceries, fuel, and so on. But you’ve got to pay it off each month to keep your credit in good shape. If you can do that, it’s not a problem.

Verdict: Is The VITAL Credit Card Worth It?

If you use the VITAL credit card responsibly, I think it’s a great opportunity. You earn cash back on purchases and cash back for referrals. That means there’s a lot of potential to make extra money with very little effort.

Use social media to help you maximize your referrals, and you may build a great VITAL score.

Of course, there are always a few risks when it comes to credit cards. It seems that the risks for using the VITAL card are pretty small. And the company is really transparent about the pros and cons. This boosts my confidence in the program – the VITAL credit card is worth a shot.

Want To Learn More About Credit Card Perks?

If you’d like to explore more credit card rewards, Frugal For Less has you covered. We also provide helpful tips for using your cards responsibly. Read these posts to get started:

Credit cards are often seen as a bad thing, but they truly don’t have to be. With the right opportunities and methods, you can easily build your credit score while earning great rewards.

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