About Coin Credit Card

Founded in 2014 and based out of San Francisco, CA, the Coin credit card, located at OnlyCoin.com can safely store up to eight of your traditional credit, debit, rewards, and gift cards on one electronic device. The company’s motto is, “Swipes like a card. Handles like a dream,” and claims to solve the problem of having too many cards in your wallet.

The Coin credit card has been featured on popular technology websites such as Engadget, CNET, Gizmodo, and Wired, as well as major networks like CNBC, NBC, and ABC. Because Coin will not launch until Summer 2014, reviews are mostly speculative, and are primarily based on information provided directly by the company. However, they are already very active in social media, with more than 114,000 Facebook likes, and nearly 20,000 Twitter followers.

How Coin Credit Card Works

According to the Coin website, the company is made up of “consumer electronics experts, designers, software engineers and a former NASA engineer” who have a “a passion for building products that simplify, improve and fit seamlessly into your life.” As a result, they’ve built Coin to declutter your wallet, and to simplify the payment process.

At its most basic, the Coin Credit card looks and feels just like any other card with a magnetic stripe, with the exception of two things:

  1. On the back of your card, there is a button that, once pressed, allows you to switch between your different cards, and
  2. A simple display that lets you know which of your cards is currently “active.” This includes the card’s brand, the last four digits, the expiration date, as well as the security code.

Getting your various cards into the Coin device is as simple as attaching the included dongle to your smartphone, swiping the card you’d like to add, and then taking a picture of the card. The Coin app on your phone will do the rest (though you’ll have to be connected to the internet), and after verifying that you own the card, you’ll be ready to go in just a few seconds.

While the Coin app can hold as many cards as you need, the device itself can only hold up to eight. Once all you cards are loaded onto your Coin credit card, it can be swiped and used in “the real world” just like any of your traditional cards, even at ATMs – but it will not work for online payments. It looks, acts, and feels just like a traditional credit card, including your name engraved on the front, and a tamper-evident signature panel.

Coin Credit Card Security Features

When most people learn that the Coin device will hold up to eight of their credit cards, the first thing that comes to mind is security. As a result, we thought it would be a good idea to devote a section to this topic.

From a “hacking” standpoint, the Coin credit card uses 128-bit or 256-bit encryption, which means that the data contained on it is very safe. When paying with your Coin card, you can auto-lock the button on the back so that the payment source can’t be inadvertently changed prior to being swiped, regardless of whether you’re “dropping a Coin, holding a Coin, sitting on a Coin, or putting the Coin in a check presenter at a restaurant.”

After payment is complete and you’re ready to leave, your Coin card uses a low-power Bluetooth signal to constantly “talk” with your smartphone. If it gets more than 25 feet away, it will send an alert to your phone to let you know that you’ve left it behind. This distance can also be reconfigured inside the Coin mobile app.

If you lose your phone at some point, you can reconnect your Coin card to another phone simply by re-downloading the app and signing in. If both your phone and Coin card are stolen at the same time, you can “remote wipe” your phone to erase any sensitive information.

Coin Credit Card Pricing & Refund Policy

According to the company’s website, the Coin credit card will be priced at $100 when it officially launches in the Summer of 2014. However, it is currently being offered at a preorder price of $50, plus $5 shipping and handling.

If you place your order and then decide that you no longer want your Coin credit card, you can cancel prior to your name being inscribed. Once this occurs however, no refunds will be available.

Bottom Line: Should You Buy the Coin Credit Card?

According to the company, the overall idea behind the Coin credit card is to declutter your wallet and simplify your life, which it appears to be poised to accomplish. With that said, since the device represents a fairly large step forward in the evolution of how we pay for goods and services, and there are bound to be some wrinkles to iron out. So if you’re thinking about preordering the Coin, here are four primary points to keep in mind:

  1. Even though the Coin website explains how the device can be auto-locked, it seems that the payment method could still be accidentally changed if you’re especially engaged in a conversation, have had a little too much to drink, or your waiter mistakenly presses the button.
  2. Designed primarily for the U.S. market, and consequently doesn’t support chip & pin (EMV).
  3. Coin is currently only available for users with an Android or iDevice.
  4. No replaceable battery. This means that once the battery runs out, you will have to spend another $100 to replace the entire device. However, the company claims each Coin device should last approximately two years with normal use.

Want to Learn Expert Tips for Online Safety?

Join over 2 million HighYa readers who receive weekly how-to guides, tips & reviews and get a FREE COPY of our Complete Online Safety e-book. Enter your email below to get started!

87 Customer Reviews for Coin Credit Card

Average Customer Rating: 1.2
Rating Snapshot:
5 stars: 0 4 stars: 1 3 stars: 2 2 stars: 12 1 stars: 72
Bottom Line: 6% would recommend it to a friend
Showing 1-11 of 87
Sort reviews by:

  • 2 out 2 people found this review helpful

    Thieves

    They just take my money and never respond. These people are thieves, plane and simple.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 3 out 3 people found this review helpful

    Coin is a SCAM

    I ordered a coin. It took over 2 years to ship. There was a misspelling on it. Coin said it's not really their problem, and there is nothing they can do. No corrections can be made. So, I tried to use the card anyway. I was NEVER able to make ONE SINGLE purchase with it. It failed every single time. It would not stay connected to the app, unlocking was horribly difficult. I again contacted Coin believing that my card was defective. Again, I was told that they do not offer refunds for any reason, even if they shipped a defective product. Now there are class actions popping up against them - no surprise.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 1 out 1 people found this review helpful

    Coin problems

    • AZ,
    • Apr 22, 2016

    I started using coin 18 months ago. Initially a lot of places could not process it, had to carry cards. The last 6 months it has been working great so I left cards at home. I am now traveling and it is not working. Ever try traveling with no credit card? No phone to call Coin, only email. 48 hours later, still no contact from them. NO customer service. I'm done with it and cannot recommend it. Just glad I got in early and did not pay full price.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 2 out 2 people found this review helpful

    Buyer Beware - Coin Customer Service/Documentation No Good

    I ordered Coin and immediately had trouble with the card reader. I had to enter cards manually and take many swipes to verify the card. After loading 2 credit cards and my bank ATM card, eagerly went to try it out at my bank. Did not read the fine print - some mechanical bank card readers will not accept this card. And, just a suggestion, test before signing. My Coin did not work at the ATM. There is no phone number for customer support. Many emails later (first about their reader, then about a refund - it turns out that if the card is signed - no returns. I give documentation 1/2 star, customer service 0 stars, Coin a big disappointment - good idea down the road, but buyer beware.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Worst product ever!

    I couldn't even get the cards on my Coin Credit Card. When I tried to get their customer support, they advised me it was only by email, and that they did not have a phone. I actually got my bank to back this off. Their refund policy stated that it would take up to four months to get a refund. Oh, and by the way, this does not work if you have a chip in your card. This is a huge rip off.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Coin Review

    • FL,
    • Feb 16, 2016

    Coin does not work at all. Not in any place.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • 1 out 1 people found this review helpful

    Do not buy!

    • Round Lake, IL,
    • Feb 13, 2016

    Great concept, but it does not work 90% of the time. If you have chipped cards, don't bother. Did not work at most gas station pumps. Why have it if you still need to carry your cards just in case. Sorry I spent the money.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Horrible

    • Philadelphia, PA,
    • Feb 8, 2016

    Customer service is horrible, it takes forever to get it, and then it doesn't work. I sent the Coin back, I have a tracking number to say it was received, but the customer service says they can't locate it, so it will not be refunded. I hated the whole experience.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • A disappointment

    While I didn't have much trouble getting my credit cards into the Coin, I've had a hard time using it. It fails over 50% of the time, and won't work on any of my cards that have chips and that's becoming the norm for credit card companies. I ordered two, but only received one, and it took multiple emails to get the other one (intended for my spouse). A good concept, but poor execution.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • Won't accept some courtesy and credit cards

    • Bowling Green KY,
    • Jan 17, 2016

    It will not accept a lot of the courtesy cards and would not take my Discover card either. Not worth it for me. I bought it to get my wallet down to 3 cards and it would only accept one. I returned mine for a refund.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


  • What a disappointment.

    • San Francisco, CA,
    • Jan 4, 2016

    The card reader did not work well. It took an hour just to get four cards scanned. I finally gave up on the rest.

    In the first week of use 5 out of 6 gas stations failed, 3 out of 5 restaurants failed, bank ATM failed, and all attempts with Amex failed.

    I give up. Having it continually fail is inconvenient and embarrassing in restaurants (it makes you look like a credit dud).

    I still have to carry all cards with me.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no
    Comments (0)
    View all 0 commentsHide comments

    Do you have an account? Log In before commenting.

    (If you don’t have an account – don’t worry, you can create it after)


Showing 1-11 of 87

Write a review for Coin Credit Card!

Share your experience to help others avoid scams & discover great products!

Write a Review