[COIN] All your credit/debit/gift cards stored on a single card

Their needs to be a lock button on that thing. What if the waiter presses the button on accident?

 

I'd rather just change the card through an app.

 

great idea. will wait for wider adoption so that the bugs are worked out, but love the idea.

 

I don't trust this AT ALL. If you're just going to be charging from one card, just carry that one. Who carries more than two credit cards, anyway? Just adding another LAYER of unsecure crap to your cards.

The comments here are pretty good: www.break.com/video/coin-card-all-in-one-2539322

 

Lots of people carry more than two cards. I have an AMEX (preferred card), a VISA (for places that don't accept Amex), an ATM card, and a business card. And that doesn't include the various gift cards a person might have.

Most of those comments are inaccurate.

I'm sure there are others, but I think the most obvious problem is what Rox11 said - too easy to accidentally change cards.

 

This is pure socialism -- Thanks, Obama.

 

Another problem to add to the mix is they are using non-rechargeable batteries. So, after 2 years, you need to buy a new one and repeat the process of transferring all the cards over again.

An app or normal card last far longer than this

 

I saw this on the Verge yesterday. I was getting ready to preorder it but there are some questions about this thing.

Firstly, the battery runs out in 2 years. So that's $100 every 2 years.

The other thing is, things like your name on the card and the CVV number which some places may require be on the card. I can already see some places refusing to take it because it doesn't have a Visa, MasterCard, Amex, etc. logo on there.

As far as accidentally changing cards and charging the wrong one, got this from their FAQ

Overall, I think its a cool idea, but in real world situations I can definitely see it being a problem for some places. The best feature is accidentally leaving the card somewhere and your phone buzzing you that you left it.

I wish Google Wallet had released a card like this like they originally intended, it would've been much better.

 

https://onlycoin.com/support/faq/

Q. Can someone accidentally change which card is selected on my Coin?

A. We’ve designed the button to toggle cards in a way that makes it difficult to trigger a "press" unintentionally. Dropping a Coin, holding a Coin, sitting on a Coin, or putting the Coin in a check presenter at a restaurant will not inadvertently toggle the card that is selected.

Though kind of sketchy, I actually buy it. The waiter isn't going to intentionally "press" the button. Worst case scenario, just check your receipt and have them issue a refund and pay with the correct one.

I pre-ordered one yesterday for $50. I have 4 credit cards in my wallet, 3 rewards cards, and a debit card. I would love to just keep this one and maybe my AMEX for emergency use.

 

Will this work with my Lone Star card?

 

As much as i love technology this isn't a big hit for me. It's like something bad is waiting to happen. What if your phone runs out of battery and you just happened to lose it? I know im far fetching but could happen.

 

I work with cash, and cash only.

 

so if you lost your card before...you only had to worry about canceling 1 card...

Now you risk losing multiple cards at once...

 

This thing deactivates once its a certain distance away from your phone (i think) so i don't think others can use it

and your cards should be kept back at home as a failsafe anyway

 

How does the card know when it is "left behind" or merely taken by the waiter for payment?

How about when I leave my wallet on my dresser and my phone in the kitchen, overnight; will I be dealing with an inactivated card in the morning?

Cool concept, but no thanks

 

As people's credit scores increase, they're eligible for less crappy cards: no fees for online balance payments or "expedited" processing, no annual fees, no cold calls offering credit limit increases for a partial fee, not being based out of Las Vegas, etc.