PLASTC Card all-in-one cc. Who pre-ordered it?

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papelet
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PLASTC Card all-in-one cc. Who pre-ordered it?

Postby papelet » Mon Apr 13, 2015 5:17 pm

Hello forum!

Currently using my phone, looked for the topic but didn't find anything about it so decided to post.

So I just pre ordered the PLASTC card, as many of you know this is a all in one smart card like the COIN card.
Just wondering how many of the forum members ordered it or what you guys think about it!
Thanks
[B]Cards:
1st. Express NEXT --------------$1,990
2nd.Cap1 Platinum MC ---------$3,250
3rd. Discover IT -------------------$5,600
4th. CSP Visa Signature --------$13,000
5th. Citi TY Pref World MC ------$5,900
6th. Freedom Visa Signature ---$7,900
7th. Amex Blue Cash Everyday-$18,000
8th. Barclays Arrival+ WEMC---$13,000


Battery111
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Postby Battery111 » Mon Apr 13, 2015 7:40 pm

I wasn't familiar with this product. It actually looks fairly compelling to me vs the other attempts at this sort of thing that I've seen. Still, it doesn't solve the basic issue they all have, which is adherence to the cardholder agreement. I'm not crazy about giving my credit issuers a loophole where they don't cover fraud, given that's among the best reasons to use a credit card.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

JamesMS
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Postby JamesMS » Mon Apr 13, 2015 8:15 pm

I had never heard of it until your post earlier and decided to look into it. The product itself seems better than others that I have heard of. Guess we will just have to wait and see. When you do get yours in and start working with it, please post an update about what you like/dislike about it.
Main Cards:
Amex BCE
Amex Everyday
Bank of America Cash Rewards
Chase Freedom
Capital One Quicksilver
Citi Thank You Preferred

Spark Cash Back (Business), Amex Plum (Business)

papelet
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Postby papelet » Mon Apr 13, 2015 9:03 pm

Battery111 wrote: Still, it doesn't solve the basic issue they all have, which is adherence to the cardholder agreement. I'm not crazy about giving my credit issuers a loophole where they don't cover fraud, given that's among the best reasons to use a credit card.

May you explain this please? According to what I understood, PLASTC just clones your credit card, they are not processing the transaction or acting as a middle man. Why wouldn't the credit issuer cover fraud? Any other insight you would like to give is much appreciated

JamesMS wrote: When you do get yours in and start working with it, please post an update about what you like/dislike about it.

Will do, but now Battery111 has me thinking about the whole cardholder agreement lol, hope we get more insight on this subject
[B]Cards:

1st. Express NEXT --------------$1,990

2nd.Cap1 Platinum MC ---------$3,250

3rd. Discover IT -------------------$5,600

4th. CSP Visa Signature --------$13,000

5th. Citi TY Pref World MC ------$5,900

6th. Freedom Visa Signature ---$7,900

7th. Amex Blue Cash Everyday-$18,000

8th. Barclays Arrival+ WEMC---$13,000

Battery111
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Postby Battery111 » Mon Apr 13, 2015 9:39 pm

The issue with all of these virtual credit cards is that unless the issuing bank actually endorses it, you are essentially cloning their card without permission. This means that in the event of any fraud, the bank could claim that you were grossly negligent in the handling of your card, and therefore say they will not cover the fraud.

The difference between these types of things, and something like apple pay, is that apple pay is actually supported and endorsed by the issuing banks. Not all banks support it, which is why you can't add certain issuer's cards to apple pay. This more or less circumvents that, by essentially "skimming" the card data. Any fraud could then be claimed by the card issuer to be a result of a lack of security in this product, which was not their fault. Whether or not its true is more or less irrelevant. You transferred your card data to an unauthorized medium in an unauthorized manner. Enough to give the issuer a potential edge in a court case.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

HookEmHorns
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Postby HookEmHorns » Mon Apr 13, 2015 9:41 pm

That's pretty cool. I'm just too cheap to spend that much on it. Once it goes down in price I'll look more into it.
AMEX PRG~1/14--backdated to 2012
AMEX BCE~6/13--backdated to 2012
Chase Freedom~5/13
Discover IT ~12/12

:cool:

papelet
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Postby papelet » Mon Apr 13, 2015 9:45 pm

Yeah... I just read my CSP agreement and put all the loopholes together. Your input is much appreciated and thanks for bringing this up.
[B]Cards:

1st. Express NEXT --------------$1,990

2nd.Cap1 Platinum MC ---------$3,250

3rd. Discover IT -------------------$5,600

4th. CSP Visa Signature --------$13,000

5th. Citi TY Pref World MC ------$5,900

6th. Freedom Visa Signature ---$7,900

7th. Amex Blue Cash Everyday-$18,000

8th. Barclays Arrival+ WEMC---$13,000

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Apr 13, 2015 10:56 pm

It looks like it doesn't support Discover - at least the website only shows Visa, MC, and Amex logos.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

papelet
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Postby papelet » Tue Apr 14, 2015 4:58 am

CarefulBuilder14 wrote:It looks like it doesn't support Discover - at least the website only shows Visa, MC, and Amex logos.


Good point, I noticed that as well and wondered why it is not included. I don't mind Discover though, I barely use it.
[B]Cards:

1st. Express NEXT --------------$1,990

2nd.Cap1 Platinum MC ---------$3,250

3rd. Discover IT -------------------$5,600

4th. CSP Visa Signature --------$13,000

5th. Citi TY Pref World MC ------$5,900

6th. Freedom Visa Signature ---$7,900

7th. Amex Blue Cash Everyday-$18,000

8th. Barclays Arrival+ WEMC---$13,000

takeshi
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Postby takeshi » Tue Apr 14, 2015 7:36 am

I have it on preorder along with SWYP. Been using the Coin beta for a while. Unless these can really support EMV they're dead end products but I'm still interested in them. There have been some other similar products announced such as Final, Wocket, etc but I think I'm at my limit on checking out products along these lines.



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