One Card That Claims to Do It All
This device stores data from all your cards.
The creators of Coin may be onto something. The device, scheduled to ship to customers this summer, is the size of a credit card and promises to lighten your wallet by storing data for your credit, debit, loyalty, membership and gift cards. Coin has generated both chatter and cash: Preorders reached a $50,000 goal within 40 minutes of launching last fall.
Coin is the newest entrant in the race for your digital wallet. Wallaby Financial is working on a card that would store payment information for your rewards cards and select the one that gives you the highest payback when you swipe. Mobile wallets such as Google Wallet and Isis digitally collect your cards and let you pay with your phone. But such wallets have struggled to gain mainstream acceptance.
Coin has grabbed attention largely because of the “cool factor,” says Bob Sullivan, a credit card fraud expert and author of Stop Getting Ripped Off. You choose the payment card you want to use by selecting it from a screen on the back of the device. To block theft if you lose your Coin, use a Bluetooth connection that renders the card useless if your cell phone travels more than about 25 feet away from it for a set period (Coin can reactivate once it’s back in range). For now, it’s unclear whether most merchants will accept payments through such a device, or whether banks and credit card issuers will permit data from their cards to be copied to another card.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Given the questions, you may want to wait to see whether Coin and similar products garner widespread acceptance -- especially given Coin’s $100 price tag ($50 if you catch it during a preorder special). Someone will find a successful way to unify our plastic, says Sullivan. We’re just not sure yet who it will be.
-
Stocks Chop as the Unemployment Rate Jumps: Stock Market TodayNovember job growth was stronger than expected, but sharp losses in October and a rising unemployment rate are worrying market participants.
-
Should You Renew Your CD?With rate cuts impacting earnings, we examine if now is a wise time to renew CDs.
-
7 Ways to Plan Now to Save on Medicare IRMAA Surcharges LaterUnderstand the critical two-year lookback period and why aggressive planning before you enroll in Medicare is the most effective way to minimize IRMAA.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
