Card Rewards Shift | Users Raise Concerns Over Upgrade Options
Edited By
Samuel Nkosi
A wave of confusion surrounds the recent app "upgrade" notifications sent to Ruby card holders. Users are debating if the touted 2% cash back is automatically accessible or if they need to stake additional funds to benefit from the higher reward.
What's at Stake for Ruby Card Holders?
Users report seeing an option to upgrade despite Ruby still offering a 2% cash back return. Many are unsure whether their current stake qualifies them for the new benefits or if further investment is required.
Some individuals express outright skepticism about the changes. One user hints at a cautionary tale regarding the need to lock up more of their funds: "You can stay on 1 percent, but for 2 percent, you’d have to lock up more CRO for 12 months."
Break Down of Upgrade Requirements
According to several comments, here’s what users seem to interpret from the community insights:
Staking Change: To move to the 2% tier, holders might need to upgrade their stake from £300 to £400 and lock funds for a year.
Value Concerns: With the value of CRO dropping, some worry about how effective the higher cash back might actually be moving forward.
Lock-In Period: The requirement to lock up funds has shifted from 180 days to 365 days, raising questions among users regarding the practicality of the investment.
One comment captures this sentiment clearly: > "They basically made you lock up tons of cash and your lockup is valued a lot less now."
Reaction from the Community
The prevailing mood seems mixed, with users exhibiting a blend of frustration and caution. Many feel that the new system lacks transparency, creating a sense of distrust with the platform.
"It's an interesting game for the poor," remarked one participant, reflecting concerns over affordability amidst the rising stakes.
Key Insights
💸 2% Cash Back: Requires £400 stake, totaling a £100 increase.
⚠️ Longer Lock-Up: One year commitment is now mandatory for upgrades.
📉 Valuation Issues: Current market value for CRO is concerning for many holders.
As the situation develops, users remain alert to the implications these changes could hold for their finances. With the discussions heating up on various forums, only time will tell how this will affect cardholders in the long run.