Money Management
July 27, 2022

Cardpooling: a new concept that helps you and your tribe save extra

Xare offers a simple solution – card pooling. Just the way friends traveling on a common route carpool to save money

Back in the day, flashing a bunch of bank cards had snob value – but that wasn’t the only reason why people owned them. More cards meant more credit options, more joining bonuses, more rewards and benefits, a lower credit utilization ratio, and multiple lines of credit to boost your credit score.

Owning multiple bank cards can be confusing and brings a higher risk of unnecessary debt. So, how do you find the magical balance where you have access to the right kind of cards to match your lifestyle?

Xare offers a simple solution – card pooling.  Just the way friends traveling on a common route carpool to save money, you can round up your friends and pool your bankcards to share the benefits, without sharing the card details.

In a nutshell, you don’t need multiple credit cards - you just need many friends who have different cards with exclusive benefits including:  

1.    Higher Credit Limit

Borrow this card from your investment banker friend in the card pool when you have a big expense coming up, like a home-theatre system or a beach vacation. Your friend might have unused credit on his bank card that he can share with you. And by using your friend’s card, you are boosting his credit score – so it’s a win-win all along.


2.     Utility Bill Rewards

Some cards incentivize users when they are used for paying rent or water and electricity bills – this could be as discounts or reward points, and both are welcome. If your friend has a card like that, invite him to join your card pool right away so everyone gets to keep their monthly household expenses in check.


3.     Cashback or Shopping Discounts

If there is a shopaholic in your friend group, then he will surely have a card that gives great rewards on in-store or online purchases. If his card promises attractive cashback, then go for it and save on your next shopping spree. As you spend more on his card, he gets the chance to upgrade to the next tier and earn even greater rewards.


4.     Restaurant and Dining Offers

Every buddy group has a foodie and card companies know how to pamper this lot. If you are planning an anniversary party and looking for discounts on dining options or restaurants, fish in your pool for a card that has maximum benefits. Our hunch is that your foodie friend will have something you can ask to share.


5.     Entertainment Deals

Some cards come with buy-one-get-one-free offers on movie tickets, theme park entry tickets, and a host of entrainment options. So, the next time you want to treat your family to a fun day, indulge in some adventure sport, or want to watch a concert, ask a friend to Xare.  


6.     Travel Incentives

Using a travel card gives you privileges like airport lounge access, excess baggage allowance, hotel discounts, and rental car insurance. Travel cards usually offer 0% foreign transaction fees. And the miles accumulated can also get you a seat upgrade on the plane. If you are not a frequent flyer but would love some extra perks on your once-a-year vacation, ask around and someone in your card pool is sure to have the right kind of card that they can Xare.  


7.     International cards

We make a case for international cards because a lot of us are globetrotters, for work or leisure.It is good to have access to cards that let you shop and spend anywhere on the planet without any fuss. And if you cannot get one of your own, then you simply Xare it with a friend.

Before we sign off, it is important to state that Xare makes money social but a card pool runs on the rules you set with your circle of friends. So be fair and disciplined, so that everyone gets to share the benefits. Xare works well where there is trust – but it is up to you to uphold it.


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