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Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

savewithtrove.com

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Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#21

Post by dariuskerpal »

covercash wrote: post #7
annoyingnoob wrote: post #6

Earlier quoted context omitted.

I left at exactly that point. If you can't show me something other than Marketing info before I enter my email address then its a no-go for me. You need to give something in order to get something from me. For all I know there is nothing behind the email wall. I'm frankly tired of email marketing and I don't want my email collected and sold off. Looks like this site tries to give you informed choices. Choices that ca…

I backed up at the email request and scrolled down to the FAQ. This was the part that made me leave: > Trove is just a passion project right now. Right now. But maybe tomorrow they’ll change their mind?

> Trove is just a passion project right now.

I left here as well

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#22

Post by saurabhsharan »

basch wrote: post #20
saurabhsharan wrote: post #15

Earlier quoted context omitted.

Thanks for the feedback! We only ask for your email address so you can sign in later to see your results. I agree it's a bit unintuitive that we don't "verify" your email, but that's because it's ultimately linked to your bank account. "Credit card information" in this case refers to the fact that we don't have access to your CC number, credit limit, etc. One of the early feedback we got was that people were worried…

Why not let me fill out a form that says I spend x on food, y on travel, z on gas, and optimize my results for a combo of up to two-three cards, without having an account? Even as a demo of how it works and the interface. Then if people want to automate that part, they can make an account and feed their bank data over. You should also look into the features apps like MAXIVU have. I tell it all the credit cards I have…

This is definitely on our roadmap. For the initial version, we wanted to provide the fastest onboarding experience, which meant letting people connect with Plaid.

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#23

Post by misterbwong »

saurabhsharan wrote: post #17
misterbwong wrote: post #5

As an avid miles & points enthusiast, this does sound like an interesting tool to make CC rewards easier to digest. Couple questions/concerns: 1. BIG red flag: You sidestep the monetization question in your FAQ. Monetization in this space is generally some combination of: spending data repackaging/selling, card affiliate links, subscriptions (least likely?). You should be up front as each one of these methods has pri…

1. Right now, we're not monetizing this at all. The current plan (which we haven't implemented yet) is card affiliate revenue. I can definitively rule out repackaging/selling spending data - we would never do that. Subscriptions would likely be the next best option if affiliate deals don't pan out. 2. Great idea! 3. Totally understand - we know it's a big ask to request your transaction history. Out of curiosity, wha…

1. Cool-that would be a good thing to put on your site somewhere. Since you're thinking affiliate fees, how you will avoid the agency problem? e.g. A ton of businesses push the premium cards (Amex Plat, CSR, etc) with high commissions but almost no one pushes cards that have small affiliate fees but that would generally be great for the majority of people. Think Citi Double Cash and the various limited 3x cards.

3. Personally, a blurb about your data deletion policy, putting it in your TOS that you will never sell transaction history/personally identifying info, and making Plaid (or VISA) more front and center moves the needle. I trust Plaid more than I trust some random entity with "bank level encryption." Not sure if I'm the right one to ask about this one as I'm not your target.

5. Cool. Didn't realize CC signup decisions were weighed so heavily by people. IME people just generally went with the marketing (think store cards and/or cards with big marketing budgets like Cap1). Maybe I'm desensitized after doing this stuff for so long.....

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#25

Post by saurabhsharan »

eeks wrote: post #24

@saurabhsharan Signed up; my account page is blank and I am not getting any result. I am not getting any way to unlink my accounts or check what is being done with my information. Seems a little fishy so far.

Unfortunately we unexpectedly hit our API limit for Plaid (the service we use to handle bank logins), but hope to be back up soon. Feel free to email us at hello@savewithtrove.com from the email you used to sign up and we'll delete your account right away.

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#26

Post by _JamesA_ »

gukov wrote: post #14
xkcd-sucks wrote: post #13

Earlier quoted context omitted.

It doesn't verify the email address -- jeff@amazon.com wants another credit card -- But then the next step is mandatory linking of bank accounts! Yuck... Also, how is "We never see, store, or use your credit card information at any time" consistent with "We analyze your spending"?

Plaid does all the storing.

Why should I trust Plaid any more than Trove?

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#27

Post by saurabhsharan »

gukov wrote: post #14
xkcd-sucks wrote: post #13

Earlier quoted context omitted.

It doesn't verify the email address -- jeff@amazon.com wants another credit card -- But then the next step is mandatory linking of bank accounts! Yuck... Also, how is "We never see, store, or use your credit card information at any time" consistent with "We analyze your spending"?

Plaid does all the storing.

To clarify, we do get access to your credit card transaction history. We do not get access at all to your bank username/password, credit card number, etc. - that's the part that Plaid handles.

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#28

Post by saurabhsharan »

dariuskerpal wrote: post #21
covercash wrote: post #7

Earlier quoted context omitted.

I backed up at the email request and scrolled down to the FAQ. This was the part that made me leave: > Trove is just a passion project right now. Right now. But maybe tomorrow they’ll change their mind?

> Trove is just a passion project right now. I left here as well

Appreciate the feedback. Could you clarify why that part was a dealbreaker for you? What would we have to do differently to earn your trust?

Re: Show HN: Tired of reading NerdWallet to see the best credit card? I automated it

#29

Post by theogravity »

saurabhsharan wrote: post #28
dariuskerpal wrote: post #21

Earlier quoted context omitted.

> Trove is just a passion project right now. I left here as well

Appreciate the feedback. Could you clarify why that part was a dealbreaker for you? What would we have to do differently to earn your trust?

I also left on seeing the email screen - I believe the OP of this thread had it right - I was unsure what was going to happen.

I went back and then started scrolling down and probably figured that it wants my CC purchase data to do this. I did not continue with signup mainly because of trust although the value proposition sounds good.

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