Anyone else going to get the Coin card?

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PowerMan572
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Anyone else going to get the Coin card?

Postby PowerMan572 » Mon Feb 17, 2014 12:10 am

It's not a credit card you apply for, but it's actually a card that holds all of your credit cards. After lurking on the forums here, it seems people like to show off their credit cards (especially the fancy ones that are metal.)

However, I personally can't WAIT until Coin comes out! I have the Samsung Galaxy Note 3 phone and my case is a flip wallet style case. However, it only has one credit card slot. Enough to hold my ID and 1 credit card. With the Coin, this will be perfect!

If you haven't checked it out yet, Google "Only Coin" and let me know what you think. It's totally secure too, because it encrypts all your cards info and the card can't be swiped after it's left your phones presence for too long.

1 downfall is there is NO chip and pin yet. So this Coin card may not work when traveling overseas.


darkguy2
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Postby darkguy2 » Mon Feb 17, 2014 12:31 am

Already have other threads that have talked about it hereand here.
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)

whit
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Postby whit » Mon Feb 17, 2014 12:40 am

I'd much much much rather have them work with banks and develop a way to just walk up to an ATM, have the phone in hand with app, and recognize me, and my phone, and my "pin" to withdraw money when I forget my wallet, but I never forget my phone..or when I lose my ATM card and haven't gotten the replacement yet, or just because I rarely use my ATM card and mostly use cc, and just happen to need to grab cash..

For credit card I'm sure they can make the coin look cool but it doesn't appeal to me personally because I only have two cc I use mainly, and to be honest, I've met a lot of Americans who're like that, and a good chunk of those Americans don't even want to use cc, but use debit card (the horror I know) for purchases

If coin made itself a neat looking design, great

I think it can sell itself more if it integrated chip (difficult to squeeze eight cards from different carriers with chip that is suppose to strengthen the security of the card)

But even more so if it came with an app that allows the user to track all the purchases it makes, and find an algorithm that allows the user to maximize their purchasing power..for example...charts to show how coin can work for the user...because it will let the client know to use discover It when it's at the movies, and citi platinum dividend at CVS, and Bank of America (americard cash rewards) 321 at gas stations...

Or automatically use it so they get the most cashback ;)


But that's just me, and my idea if I were coin, I would have that type of supplement app or features when logging into website account

darkguy2
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Postby darkguy2 » Mon Feb 17, 2014 12:55 am

The problem with the chip is that you cannot copy it. Every chip is different. So you cannot make a copy of a chip card. I think you may be able to label each card so you can change it to say restaurant or gas so you can rotate through them to see which one to use where.
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)

PowerMan572
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Postby PowerMan572 » Mon Feb 17, 2014 12:57 am

darkguy2 wrote:The problem with the chip is that you cannot copy it. Every chip is different. So you cannot make a copy of a chip card. I think you may be able to label each card so you can change it to say restaurant or gas so you can rotate through them to see which one to use where.


Good point. I didn't think of that :-/ So once chip and pin has gone mainstream in the U.S., I wonder what they're going to do :-(

darkguy2
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Postby darkguy2 » Mon Feb 17, 2014 1:07 am

Yep. But on the bright side the battery is supposed to last 2 years so about the time it fails will be when all this will be changing over. I imagine that they will die out unless they can adapt their business model.
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)

JoDa
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Postby JoDa » Thu Feb 20, 2014 7:13 pm

I ordered one, too. For me, half the benefit is being able to store my rewards cards all in one place. My keychain is a mess of store loyalty cards, and my wallet has others that don't come in keychain form (unfortunately, I'll still have to carry the FF card for now as I look pretty young and fly pretty sloppy, and the TSA guys always give me flack about getting in the Premiere security lane until I show my card...my question about this is when was the last time you saw someone WITHOUT frequent flyer status boarding a plane with only a purse?).
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K

MrMosby
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Postby MrMosby » Thu Feb 20, 2014 7:26 pm

Well every chip isn't different per se. Every chip is unique per card issue. If you get a replacement card because yours broke and it's exactly the same in theory the chip should be the "same".

Essentially during the personalization process SSL certificates are loaded onto the chip.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

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otter
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Postby otter » Thu Feb 20, 2014 8:35 pm

whit wrote:But even more so if it came with an app that allows the user to track all the purchases it makes, and find an algorithm that allows the user to maximize their purchasing power..for example...charts to show how coin can work for the user...because it will let the client know to use discover It when it's at the movies, and citi platinum dividend at CVS, and Bank of America (americard cash rewards) 321 at gas stations...

Or automatically use it so they get the most cashback ;)


But that's just me, and my idea if I were coin, I would have that type of supplement app or features when logging into website account


There is an app called Wallaby which does that...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

darkguy2
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Postby darkguy2 » Thu Feb 20, 2014 11:26 pm

MrMosby wrote:Well every chip isn't different per se. Every chip is unique per card issue. If you get a replacement card because yours broke and it's exactly the same in theory the chip should be the "same".

Essentially during the personalization process SSL certificates are loaded onto the chip.


While they will have the same credentials on it the encryption key will be different. Even if you read the card you can not just skim the credentials off of it. There is a secure handshake you could say. You would have to break the encryption. So the chips will be different with the same info stored on it. I am not sure about EMV but some of the smart cards I have messed around with have a physical RSA key built into each of the chips when they are made and cannot be changed. That is not to say they cannot be broken. There are many ways that they can be.

I am not saying that the Coin will not have any uses after they roll out the new chip cards but it will severely limit their usefulness and at $100 it starts to become a expensive luxury item.
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)



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