Home > 2012 > Credit Cards > Wallaby Turns Multiple Credit Cards Into One

Wallaby Turns Multiple Credit Cards Into One

Advertiser Disclosure Comments 0 Comments

Anyone with a wallet full of plastic will understand the value of Wallaby, a new digital platform that combines a person’s existing credit cards onto one in order to increase their earning potential.

Like other digital platforms, Wallaby uses a single card as the access point to a consumer’s digital wallet. However, this card has been designed to factor in the rewards programs present in a user’s payment arsenal to decide which one the purchase should be applied to. For instance, airfare would automatically be charged to your travel rewards card, while clothes would be charged to a card running 5% cash back on department store purchases.

Founder and CEO Matthew Goldman came up with the idea after he paid for gas with his go-to credit card only to see an advertisement for a gas card he already had pop up at the terminal.

“I thought ‘how long have I been forgetting to use this card?'” Goldman says. He explains the goal is to simplify increasingly complicated credit card rewards programs and eliminate unnecessary guesswork. “Why do that when we have a computer [that] can do that for you?” he adds.

[Free Resource: Check your credit score and report card for free before applying for a credit card]

Free Credit Check & MonitoringWallaby is currently in private beta testing, but interested consumers can request a card by visiting its website. The first 1,000 customers to sign up will receive a lifetime membership benefit. The first 5,000 customers will receive a free card for twelve months. After that time period, the service will cost $50 a year.

Goldman said access will largely be granted on a first come-first serve basis, but some preference might be given to “references from industry influencers.”

The service is slated to become available to the general public early next year. At that time, customers will be able to apply for the card directly on the website. The application does involve a basic background check, but no hard inquiries will be generated on your credit report.

While the initial roll out focuses on maximizing rewards, Goldman says, at some point, Wallaby will be able to account for other factors, such as interest rates.

[Credit Cards: Research and compare credit cards at Credit.com]

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.