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Final – A credit card built for the 21st century

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Re: Final – A credit card built for the 21st century

#191

Post by JoblessWonder »

gdilla wrote: post #38
Someone1234 wrote: post #13

> 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…

BOA had this. I used to buy MP3s off a russian site that I didn't trust. It makes a temp credit card number (a pop up basically) with an expiry date you can set, and an amount you can set. So I would do 30 day credit cards with like $20 on them. I think it was called shopsafe.

So does Citibank. I use it all the time for shady-internet purchases.

Re: Final – A credit card built for the 21st century

#193

Post by zippergz »

eli wrote: post #64
untog wrote: post #4

Having 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…

Is credit card fraud a real problem for consumers? My experience has been that my number gets stolen and American Express overnights me a new card. It's mildly inconvenient to update my recurring billing info, but it's not something I feel like I need a product to solve.

When you have to update 15 different recurring accounts, and it happens 2 or 3 times a year, it gets to be a burden. Despite it happening that often to me, I almost invariably would find some account I forgot to update every time until they got mad when charges started getting declined. I finally fixed this situation for myself by using a dedicated card just for recurring charges, and thus far (knock on wood), it hasn’t been compromised while my primary cards have.

Also, three out of the last four times my card was compromised, it happened during a trip or once the day before I left (on a Saturday). So an overnighted card didn’t really help me. I have backup cards, but it’s still a hassle.

Finally, because fraud is so rampant, the banks seem to have gotten super paranoid about suspicious charges. I’ve had my card declined at the grocery store I shop at multiple times per week. My spouse had her card declined at a local clothing store. Again, not a huge deal because we have backup cards, but it’s both annoying and embarrassing when this happens.

Re: Final – A credit card built for the 21st century

#194

Post by dustinchilson »

mcherm wrote: post #152
coldcode wrote: post #117

Earlier quoted context omitted.

CHip and PIN will be required in the US as of Oct 2015.

Not quite. If I understand correctly, as of that date Chip and PIN will be encouraged, by charging higher fees to merchants when they fail to do a chip and PIN transaction.

No just higher fees but the merchant becomes liable for fraudulent transactions processed without chip and pin.

Whereas before the big card brands would cover more the risk and fees.

Re: Final – A credit card built for the 21st century

#195

Post by nyolfen »

alkonaut wrote: post #155
makmanalp wrote: post #118

Earlier quoted context omitted.

This is too funny - my bank in Turkey ( http://en.wikipedia.org/wiki/Garanti_Bank ) had this 10 years ago! I wonder why banks in the US are so ingrained in their ways and horribly slow at updating themselves. edit: They also had an SMS cash thing where you can "send" cash to anyone, which is really a code you can use at any ATM to redeem cash.

I was recently in the U.S. and saw a person use a paper cheque. I'm not joking.

my mom uses checks as a direct response to major credit card hacks, and i can't say i blame her

Re: Final – A credit card built for the 21st century

#196

Post by JoeAltmaier »

nyolfen wrote: post #185
mcherm wrote: post #143

Earlier quoted context omitted.

In my personal moral code, most debts ARE a moral obligation. Perhaps your moral code is different from mine.

a bank reposessing a house and ousting a family is a much more immoral act than being unable to pay for one. moral considerations in interactions with a corporation is foolish

The day that credit becomes a civil right, I move to Mongolia. You pay for what you have; nobody owes you anything. To view a house as some natural right is an upside-down view of the world to me.

Re: Final – A credit card built for the 21st century

#197

Post by worklogin »

hammock wrote: post #84
untog wrote: post #4

Having 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…

Is credit card fraud really a big problem (for consumers I'm asking, not banks or merchants)? In my experience, chargebacks are pretty easy, debit or credit. Same with reporting a lost or stolen card and voiding any purchase made on it. And every credit card I've ever had has been remarkably proactive about alerting me to possible fraudulent activity.

When banks have to pay millions of dollars a month in credit card fraud, it impacts consumers. And there is peace of mind that there is no POSSIBLE way your card can be used for fraud.

Re: Final – A credit card built for the 21st century

#198

Post by bhousel »

n72 wrote: post #72
mcdavis wrote: post #41

Earlier quoted context omitted.

It's Adam Lisagor whose video production company Sandwich Video works on lots of startup videos http://sandwichvideo.com/

Which I don't understand. All their stuff has such a hipster aesthetic. I'm not knocking the hipster aesthetic (I don't like it, but that's a whole different conversation), but it's certainly not an everyman aesthetic, which I would think one would want for an advertisement which is supposed to appeal to a wide audience. I'm sure other industries have put a ton of research into this and I assume this is why people in…

apropos: http://thelastpsychiatrist.com/2010/11/advertisings_collater...

"It's easy to think that the ads are designed to draw in the demo shown in the ads, but that's not the way advertising works, and consequently that's not how America works. If you're watching it, it's for you. These ads play heavy during late and late late night talk shows: the target is boring middle aged white people. Blackberry isn't targeting gays and limber blondes, it's pretending they are already on board so you don't feel like a dork without a touch screen."

Re: Final – A credit card built for the 21st century

#199

Post by jimbokun »

troupe wrote: post #104
toomuchtodo wrote: post #81

Earlier quoted context omitted.

Debt isn't a moral obligation, and to somehow frame it as such is dubious at best. If you as a debt owner or servicer can't keep your books straight, you have absolutely no business attempting to collect on a debt. If you're taking someone to court or attempting to take their wages, you better be damn sure you're in the right.

I believe most people would say that when they agree to take money with a promise to repay it, they are under a moral obligation to do so.

I think the issue is assuming the company charging the account are behaving in a moral manner.

Changing terms after the fact, dark patterns, charging for things the customer didn't agree to, over billing for cable services in the hope the customer just doesn't notice or gets worn down by trying to fight it.

There are a lot of times the corporation is unequivocally in the wrong, but they already billed your card and you have to fight to get it back. Being able to cancel the card first and force the corporation to take you to court and prove their case could help put the consumer on a more level playing field.

Re: Final – A credit card built for the 21st century

#200

Post by zanny »

bicknergseng wrote: post #88

"A credit card built for the 21st century" is an oxymoron. It's like saying a car phone built for the 21st century. For the love of all that is holy and sacred, please eliminate the need to carry cards at all. Just let me pay with my phone. Put my drivers license, health insurance card, membership cards, gift cards, car keys, and payment methods into my phone. All of this already exists in some form or another, but A…

Bitcoin called, it works already. Just gotta get the vendors to take it.

It is really amazing to pay subway by scanning a QR code and pressing confirm.

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