how long before numbers get collisions? are revoked credit card numbers invalidated forever?
Final – A credit card built for the 21st century
51–60 of 381 posts
Re: Final – A credit card built for the 21st century
#52I can't help but think this must be vaporware. I worked in the credit card industry for several years. A credit card company is not something anybody can just start from scratch - you need data to model chargeoffs, fraud, spend, ect in order to be profitable. And unlike Robinhood, you need a source of capital to fund the cash you float, usually securitization or deposits.
I may be completely wrong, but I simply don't buy it. There's so much more to a credit card product aside from the nice-sounding features they have on their landing pages.
Re: Final – A credit card built for the 21st century
#53Am I crazy or doesn't this (temporary credit card numbers) already exist with a lot of major credit card vendors? I remember getting an Amex Blue card back in the early 2000's because it could do just that thing...
Re: Final – A credit card built for the 21st century
#54Having panned Plastc yesterday, this is like night and day - where Plastc is trying to solve "I have too many credit cards in my wallet" with an overdose of technology, Final is solving an actual real problem (credit card fraud) with an intelligent use of technology. In fact, I don't even want a physical card (chip and pin will make that difficult anyway), I just want an online service that will generate a new credit…
> I just want an online service that will generate a new credit card number for me on demand.
I'm wondering why it's not more widespread. My (small) bank has been providing me a unique card number for every purchase for at least the last 5 years, and they're not usually on the cutting edge regarding banking technology. You can also give a maximum amount that can be withdrawn on the card, and once someone has withdrawn money using that number, no one else can do it.
Re: Final – A credit card built for the 21st century
#55> Final lets you give a unique credit card number to every merchant, or a disposable one-time use number for one-off purchases. This is something I have been asking for since forever! People on here claimed it was "impossible" because of how credit cards work, I guess not... > Tired of your monthly yoga pants subscription? Or a two-week "free" trial that lasted four months? Just deactivate that card number. It's that…
Counterpoint. If you get taken to collections over a trivial amount ( Have to go to court for collections? The first words out of your mouth need to be, "Verify the debt." Ask them to produce the document you signed and agreed to. In the vast majority of cases, without this, your case will be dropped with prejudice. This is based on research I did while dealing with a personal mortgage "issue". http://www.thisamerica…
Not all collections agencies are so sloppy and unscrupulous. If you do owe the money and they do have the documentation to support it, you may well have a judgement against you and that definitely will hurt your credit score.
Some companies (like say gym membership) have internal collections departments that can be quite aggressive. They would certainly be able to back up any lawsuit.
In general, you really want to try to avoid being sued.
Re: Final – A credit card built for the 21st century
#56Re: Final – A credit card built for the 21st century
#57Weird, their website seems to have the same color scheme as http://typesafe.com/.
Re: Final – A credit card built for the 21st century
#58Essentially your credit card number is like a transaction token now. If the token is compromised, no big deal the transaction is over and that token is no longer valid. But it has some backwards compatibility built in so you can re-use the token for systems that are setup to charge one number / token every month. Your credit card number is essentially an implementation detail of your card. Very cool.
Re: Final – A credit card built for the 21st century
#59> Final lets you give a unique credit card number to every merchant, or a disposable one-time use number for one-off purchases. This is something I have been asking for since forever! People on here claimed it was "impossible" because of how credit cards work, I guess not... > Tired of your monthly yoga pants subscription? Or a two-week "free" trial that lasted four months? Just deactivate that card number. It's that…
Disposable credit card numbers have been around for decades. The user experience has historically been miserable. Maybe this will be better. Doubt it.
Absolutely, virtual cards have been around for years. But we've researched the space extensively and did not find a product we like or could use consistently. So we built Final. Some of the better products out there exist for customers outside of the US.
Re: Final – A credit card built for the 21st century
#60Am I really the only one to notice it says "Enter your emaill address"?