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Final – A credit card built for the 21st century

getfinal.com

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

#31

Post by bryanlarsen »

notJim wrote: post #11
arfrank wrote: post #2

CTO/Co-Founder of Final here. Final is what we built to take back control of our own credit cards for how and when we’re charged, instead of leaving it up to merchants. That led to merchant-specific numbers and limits, managed automatically, as well as transparency in statements. It’s our stake in the ground, a way to shift the culture in credit towards consumer friendliness. Happy to answer questions

One of the problem w/ traditional credit cards is that my interests are not aligned with those of the card issuer. It's better for me to pay off my balance every month, but better for my bank if I don't so they can collect interest. Will this be any different with Final? If so, how do you plan to make money?

Don't worry, the banks love it when you pay the account in full every month. They make more money from merchant fees than they do from interest payments.

Banks work hard to make sure credit card holders are happy. After all, it's fairly easy to switch credit cards.

It's the merchants that have the short end of the stick in the three way relationship between banks, customers and merchants.

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

#32

Post by scotchio »

This is awesome! I love the idea and was actually discussing a couple months ago why this doesn't exist yet with current CC companies like AMEX or Visa.

All these all-in-one "supercards" coming out are cool, but this is beyond cool and serves a real purpose.

I imagine they'll add a sharing component to purchases eventually too. This way you just spin up a new credit card number that is split between a group of people (e.g.: at a dinner for the check) and set percentages for everyone. You no longer have to ask waiters to split bills, Venmo friends after, etc.

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

#34

Post by chrisbolt »

crimsonalucard wrote: post #21

The guy in the video is the exact same person in the coin video. https://onlycoin.com/ I'm really pissed off I paid for coin. I'm not going to pay a dime for plastc or this until it's released.

See this: https://news.ycombinator.com/item?id=8313720

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

#35

Post by nlh »

arfrank wrote: post #2

CTO/Co-Founder of Final here. Final is what we built to take back control of our own credit cards for how and when we’re charged, instead of leaving it up to merchants. That led to merchant-specific numbers and limits, managed automatically, as well as transparency in statements. It’s our stake in the ground, a way to shift the culture in credit towards consumer friendliness. Happy to answer questions

Looks very cool. Few questions off the top of my head:

1) I presume since you'll be an actual credit card, there's an issuing bank behind you somewhere. Are you an actual startup, or is this a "division" of some huge bank trying to appeal to the tech set? Can you talk about who your issuing bank is?

2) ApplePay?

Thanks! (I signed up.)

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

#37

Post by general_failure »

crimsonalucard wrote: post #21

The guy in the video is the exact same person in the coin video. https://onlycoin.com/ I'm really pissed off I paid for coin. I'm not going to pay a dime for plastc or this until it's released.

Sorry to hear. I am not in the know but what happenned to that company that pissed you off?

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

#38

Post by gdilla »

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.

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

#39

Post by otoburb »

Someone1234 wrote: post #20
tkmcc wrote: post #12

Earlier quoted context omitted.

I was wondering about the number embossing as well. I could see it confusing or sketching out some cashiers, especially with all the recent news about credit card fraud. I like the e-ink idea that Plastc had and would be very attracted to this card if it had that just for ease of use.

I've had situations (recently) where the card machine wasn't working so they manually tapped in the number on the front instead. Without the number and given the same situation I might be left without a working card.

Agreed. In many retail locations they often type in the last 4 digits shown on the physical card even if it's not the entire card number, even when the PoS card scanner is working.

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

#40

Post by sp332 »

tkmcc wrote: post #23

> 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 easy. I'm a little wary of this functionality. Although most responsible businesses just cancel the subscription after a declined payment, some will sic a debt collection agency on you because they claim you owe them the money. My Google-fu is failing me now, but I know I've…

It's true, if you sign up for something, you're on the hook for paying for it. If your credit card doesn't work, that doesn't mean you're not in debt.
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