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Coin - [No referral links] Single Card To Replace All the Plastic in Your Wallet

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Coin - [No referral links] Single Card To Replace All the Plastic in Your Wallet

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Old Nov 14, 2013, 11:49 am
  #1  
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Coin - [No referral links] Single Card To Replace All the Plastic in Your Wallet
I hate carrying multiple cards, which limits my ability to maximize CC rewards. This looks like an interesting solution:

https://onlycoin.com/

I am hesitant to pre-order until I see if it actually works in the wild. Ten referrals nets a free card though, so I am tempted . . .
boulderlaw is offline  
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Old Nov 14, 2013, 11:55 am
  #2  
 
Join Date: Nov 2013
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isnt the US rolling out Chip and Sig soon? in the next 2 years?
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Old Nov 14, 2013, 12:10 pm
  #3  
 
Join Date: Oct 2013
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I'm intrigued. Thanks for passing this along. Going to put this on my list to read about later. How long until they put a fingerprint scan on the card like the new iPhone? Hell, how long until they put a credit card chip INSIDE my finger and I don't have to carry cards at all.

The video mentioned gift cards. Did you see if there was a limit to the number of gift cards or the types of cards? I have too many GCs.
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Old Nov 14, 2013, 12:18 pm
  #4  
 
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This has ALOT of problems. First of all, the number printed on the card doesn't match the actual card, thus retailers will loose some of the protections they have for swiping the ACTUAL card. Also, banks WANT to take up space in your wallet, they DON'T want to be able to be replaced so easily. I have a feeling most banks will make using this illegal, either by making it against the TOS, or by sueing this company into oblivion.
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Old Nov 14, 2013, 12:18 pm
  #5  
 
Join Date: May 2013
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Originally Posted by thewire76
I'm intrigued. Thanks for passing this along. Going to put this on my list to read about later. How long until they put a fingerprint scan on the card like the new iPhone? Hell, how long until they put a credit card chip INSIDE my finger and I don't have to carry cards at all.

The video mentioned gift cards. Did you see if there was a limit to the number of gift cards or the types of cards? I have too many GCs.
It sounds like 8 total.
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Old Nov 14, 2013, 12:21 pm
  #6  
 
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Originally Posted by joelfreak
This has ALOT of problems. First of all, the number printed on the card doesn't match the actual card, thus retailers will loose some of the protections they have for swiping the ACTUAL card. Also, banks WANT to take up space in your wallet, they DON'T want to be able to be replaced so easily. I have a feeling most banks will make using this illegal, either by making it against the TOS, or by sueing this company into oblivion.
There is no number printed on the card, but there is a display with the last 4 # and the expiration date for each card you have stored. I think it's much more likely for stores not to accept them; I don't see any upside in banks making it harder for you to use their cards.

That said, I also find the concept intriguing, but will hold off until they actually make it into production before ordering one.
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Old Nov 14, 2013, 12:22 pm
  #7  
 
Join Date: Oct 2013
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Holding 8 cards isn't going to help me much. Guess I'll keep carrying around my hand-me-down grandma card wallet.
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Old Nov 14, 2013, 12:33 pm
  #8  
 
Join Date: May 2008
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Originally Posted by mbece
It sounds like 8 total.
where do you see that? the website makes it sound "unlimited"

edit: oops, i see it now. the difference between the App and the actual card... doh
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Old Nov 14, 2013, 12:37 pm
  #9  
 
Join Date: Sep 2010
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Originally Posted by thewire76
Holding 8 cards isn't going to help me much. Guess I'll keep carrying around my hand-me-down grandma card wallet.
Well you can store unlimited cards in your phone app, presumably you can load the "card" portion from your phone so it's essentially unlimited.
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Old Nov 14, 2013, 12:45 pm
  #10  
 
Join Date: May 2008
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Originally Posted by thewire76
Holding 8 cards isn't going to help me much. Guess I'll keep carrying around my hand-me-down grandma card wallet.
i was tempted to think this also, but when have you actually used more than 8 different credit cards in one day?

even right after a batch of cc apps, i'm probably using 3 or 4 maximum on a given day.
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Old Nov 14, 2013, 12:55 pm
  #11  
 
Join Date: Sep 2006
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Originally Posted by boulderlaw
I hate carrying multiple cards, which limits my ability to maximize CC rewards. This looks like an interesting solution:

https://onlycoin.com/

I am hesitant to pre-order until I see if it actually works in the wild. Ten referrals nets a free card though, so I am tempted . . .
This sounds kind of like the Wallaby Card (https://walla.by/the-wallaby-card).

I was accepted into the Wallaby Card beta program back in June of 2012. However, they have yet to launch the card. They send out occasional updates about progress, but it sounds like a pretty complicated endeavor. The last update in October said they were doing a security audit from the Payment Card Industry Security Standards Council.
Last edited by joelmeu; Nov 14, 2013 at 1:01 pm
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Old Nov 14, 2013, 12:59 pm
  #12  
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This looks like a perfect tool for fraudsters. Anyone who can get hold of your card for more than 10 seconds (waiter at restaurants?) can clone it and use it later.

Better get one before it is banned.

No EMV support?
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Old Nov 14, 2013, 1:21 pm
  #13  
 
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Originally Posted by TerryK
This looks like a perfect tool for fraudsters. Anyone who can get hold of your card for more than 10 seconds (waiter at restaurants?) can clone it and use it later.:
How is that any different from skimming methods available now?
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Old Nov 14, 2013, 1:39 pm
  #14  
 
Join Date: Dec 2004
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Coin - Single Card To Replace All the Plastic in Your Wallet
Nice toy, but several years too late and without EMV (chip+pin) will be a dead duck quickly.
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Old Nov 14, 2013, 1:44 pm
  #15  
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Originally Posted by linglingfool
How is that any different from skimming methods available now?
Small, portable, hard to detect. The waiter, or whoever, can put one in his wallet and be ready any time.
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