- Centurion Member
- Posts: 602
- Joined: Thu Jan 24, 2013 12:24 am
- Location: United States
takeshi wrote:It looked interesting so I signed up. It's really too early in the game to say anything definitively. I figure at the very least if it's released and merchants are hesitant to accept it then it should still be useful at terminals where you swipe your own card. Wondering what they'll do when EMV comes along to the US (already a need for it from some international travelers) but we'll get to that when we get to it. Also not entirely happy about the non-replaceable battery. Hope they're working in something to recover and recycle the dead Coins at the very least, if not rechargeable batteries.
The one card I have that it won't be able to replace is the Costco TrueEarnings since it can't replicate the membership barcode and I doubt the door person would accept the Coin as proof of membership.
They have said that they will be coming out with a pin and chip version for the next model. I am not too worried about security for the physical card as it will be more secure than my regular cards. It has built in Bluetooth 4.0 so if it goes out of range of my phone it will warn me and I can set it up so it deactivates after a certain amount of time away from my phone. They have also said that it will not be easy for someone to change the card by accident. So the person charging it will not change the card being charged.
I agree however with the problem for the battery life. I am not sure I will like having to replace it at minimum every two years. And while they say two years but I am not sure if it will actually last this long. They have not said what will happen after your battery dies. Will they make you buy a new one at retail or give you a discount on a new one? I can see how the requirement to replace it every so often may be a form of membership fee for the service. So in a way it would cost you $50 a year to use the Coin service. I have sent them a question about it and are waiting to hear back but from the looks of it they already have a huge backlog of emails. Would be nice if they built in wireless charging or even micro-usb charging. I would be willing to reduce the battery life to a week or so if I can charge it.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000
FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)