Now that the news of Evolve has gotten around with all the fees and limitations, its use was less and less. Then they said they would allow a higher limit, but charge for certain debit cards. Then there were some that didn’t have a fee. In the forum, I kept writing why I was a fan of Evolve. I was defending their honor even after the fees on the US Bank issued prepaid cards.
When it was posted in the forum, and then publicly on the 3% for using UFB Direct, That was when I joined the other side, Evolve has no use to me. When Evolve opened the monthly limits, I was excited because there was an opportunity to manufacture spend for free paying my already paid insurance. Paying my insurance and receiving a refund wasn’t why I was drinking the Evolve Kool-aid.
The reason why I was adamant to using Evolve was because of the store credit cards. Evolve allowed you to pay all of those credit cards and it allowed a double dip. Without the fees, I was having a great time with my Best Buy credit card because I was churning their gift cards and then using a high cash back credit card like the old American Express Blue card lowering the cost basis. This was part of my strategy for breaking even on gift card sales to build up my volume. I really enjoyed using the Evolve service/product since it was baked into my project.
Loss of Evolve
Without Evolve, it does change my plan a little bit and it makes me feel like I wasted getting some of the store cards that I have. My Best Buy card is less than a year old. It is issued by Citibank and seeing how generous they are with product changes, we’re going to need to take a wait and see approach to when the card is 13 months old.
Hopefully a new product comes out that allow bill pays like Evolve, but better.