One Physical Card - Multiple Accounts? Actually One Card to Rule them All?

Discussion in 'General Discussion | Credit Cards' started by edekba, Jun 26, 2012.  |  Print Topic

  1. edekba

    edekba Gold Member

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    I Saw this one a TechCrunch blog and thought that this is extremely promising.

    http://www.walla.by/

    From What I've read; basically its a physical card that is linked to all your other cards and based upon preferences and what not, when you swipe your card it will determine what card is best for rewards/points and send the information along to that card provider. This potentially could be AWESOME; one card multiple rewards. (5x Freedom + 2x SP + SPG) while just carrying one card.

    What do you guys think?
     
  2. Sedosi

    Sedosi Gold Member

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    One hack, multiple accounts compromised.

    Still, if they could work out security yes, it's promising.
     
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  3. edekba

    edekba Gold Member

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    Well true; but its the same thing as if you lost your wallet right?
     
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  4. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    never lost my wallet, but have had accounts closed several times because of supposed hacks or security breaches.
     
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  5. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    It will be interesting to see if they'll let me define my own rules. Sometimes I get short-term promos, such as the current 50% bonus from Citi for my AA card. Wallaby presumably wouldn't know about it, and even if they did, they might not know that I am aiming to bulk up my AA balance and would rather get 1.5 AA miles than 2.0 UR points at this time. Or that I am aiming to reach $20k spend on my Amex HHonors card for Gold status and that I am willing to sacrifice some UR earnings due to that goal.
     
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  6. Sedosi

    Sedosi Gold Member

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    The only difference that I would see is that, when/if I were to lose my wallet, I'd know about it much faster than if there was a hack.
     
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  7. edekba

    edekba Gold Member

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    Well it says you can customize it to your preference. So i assume you can let it know what your priority is. I mean it would be awesome you just singed up for a card and had a spend req. You can still use the same card while sending the transaction to the correct card.

    I would Agree; but then I use mint.com on an almost daily basis. That tends to make me less scared about it
     
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  8. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    Will they know that a certain merchant doesn't accept, say, Amex, and pick a VISA even though my preference would be SPG Amex?
     
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  9. edekba

    edekba Gold Member

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    Hope so; but then I would love to see the face of people. They would look at your and be like "WTH is this? Is this a Visa/MC/Amex/etc?"
     
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  10. marcwint55

    marcwint55 Gold Member

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    sounds interesting, but I would have to pass on it. Too much like big brother watching over me, and I don't like the idea of someone else deciding what program I want points in.
     
  11. Sedosi

    Sedosi Gold Member

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    I'm also on mint. I also just went through the mess of having my bank card hacked (and $800 worth of tactical flashlights purchased) so I will admit to a healthy level of skepticism right now.

    It does seem like it might have potential though.
     
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  12. Scottrick
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    Scottrick Gold Member

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    I like a good ol' swipe or inserting a card into a slot. It makes me feel like I'm paying for something. Make it too easy, like putting your CC info on a smartphone or combining them all as one card, and I'll probably avoid it. I have yet to use one of those stupid tap-and-go systems at McDonalds or elsewhere, in which it takes more time to explain how it works than just swipe the card like usual.
     
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  13. edekba

    edekba Gold Member

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  14. SOLTATIO

    SOLTATIO Silver Member

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    The Points Guy indicated on his blog that he was going to give this a try and see how it goes...
    http://thepointsguy.com/2012/06/wal..._campaign=Feed:+thepointsguy+(The+Points+Guy)
    Would be great to have a pro like him test it out and answer the no doubt thousands of questions that this could bring... Although I'd be happy if they just brought the high signup bonuses from the US to Canada in stead of an interlinked card.... :(
     
  15. deant
    Original Member

    deant Milepoint Guide

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    The problem I see is having merchants, and their systems, recognize the card. How many merchants would want to take a card that does not have any recognizable logo on it? Remember the clerk looking at the card is the first security check. I can just see a clerk saying we only take MC, Visa or AMEX.

    On top of that, how many times have you had to input the security code to validate a card? I don't want to give anyone all my credit card numbers along with all the security codes.

    It will be interesting if "The Points Guy" does give it a try and how / if it actually works.
     
  16. edekba

    edekba Gold Member

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    I just got the email saying I was selected as the first 5000. They should be rolling out the cards in the coming months.
     
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  17. Spangenberg
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    Spangenberg Gold Member

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    I actually got an email saying I was part of the first 1000. It will be interesting to see how this works. I can move up the beta list by getting people to sign up under my link. That way I can let you all know how it works out.
    http://www.walla.by/sign-up/?refcode=bypxa7
     

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