Personal Finance

Credit cards...vanishing

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  • Dec 16th, 2013 12:03 pm
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[OP]
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Oct 7, 2012
1338 posts
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Montreal

Credit cards...vanishing

Is it?
Mobile syrup just posted about Tim Hortons now going mobile payments with ios and blackberry,

[IMG]http://i39.tinypic.com/350ugpv.jpg[/IMG]

It seems like convenience is king, with more and more digitial (boring?) payments to soon become ubiquitous
What about the vanity factor of pulling out a goldly glowing card in a resto, or the polish of the rare platinum
Will all that be gone?
Phones and clothes are all a part of human psychology regarding a statement, caste, positioning
the credit card had always had it's place as a subtle cue in that mix
with the physical flourish and wave of the credit card soon to be relegated to a press of a device's button or a nod with Google Glass.
Will credit card companies loose an effective and proven tool in being able to control mass human pschyology?
surely they will not give up such a powerful strategy to incite and glamorize spending
Where will this go?
I'm honestly a little sad that the appeal of a good looking card could slowly diminish
13 replies
Deal Fanatic
Nov 11, 2008
7496 posts
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Credit card will be forever here. Tims implemented this so they can hold more of your money. It's essentially a gift card with the push for auto load. It allows them to use your "unused" money for investment. It's a no brainer for retailers
Sr. Member
Feb 28, 2013
945 posts
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Toronto
Really? I've seen ads like that talking about the so called prestige of their credit card but I never thought anyone actually fell for that bs. Well anyone respectable. Maybe very insecure people with their priorities all out of whack.

This Tim Horton's thing sounds like what people who drink coffee rater than watered down swill have been doing for years at Starbucks. No big deal and you can still use your credit card to reload and get the points/cash back.
Deal Fanatic
Nov 24, 2013
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Kingston, ON
These apps are replacing carrying a gift card in your wallet, not your credit card. Gift cards can already be set up to reload through a credit card, this is just removing the physical card and making it digital.

It's not going to replace using my Costco AmEx at Tim's to get 3% cash back. Still, 'prestige of using a credit card'? lol. It's just a tool.
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Jan 30, 2012
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TORONTO
Beans1234 wrote:
Dec 12th, 2013 12:02 pm
Really? I've seen ads like that talking about the so called prestige of their credit card but I never thought anyone actually fell for that bs.
Some people don't care about prestige & snob appeal, other people drive a big Mercedes to show off.

A long time ago there were gold credit cards - they were difficult to get and had some prestige value.

Then there was platinum, then visa infiinite & mastercard world, world elite, etc.

Today, there has been so much card inflation that only one card has any prestige value: the American Express Centurion Card http://en.wikipedia.org/wiki/Centurion_Card

And if you're wondering, no, I don't have one :)
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Oct 27, 2007
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Timmies needs to add some loyalty benefits before I start using their card. Even McD have the stickers you collect with each coffee.
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Aug 2, 2001
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Beans1234 wrote:
Dec 12th, 2013 12:02 pm
Really? I've seen ads like that talking about the so called prestige of their credit card but I never thought anyone actually fell for that bs. Well anyone respectable. Maybe very insecure people with their priorities all out of whack.
I actually once had someone say "Infinite? Wow, I haven't seen this credit card before, it must be a good one."

I definitely think there are those that look for "status" with what they pay for. Really, it's just like everything else in life - clothing brands, car brands, etc...
Deal Fanatic
Mar 24, 2008
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cjottawa wrote:
Dec 12th, 2013 1:57 pm
Loyalty cards vanishing would be nice. I see people carrying massive card wallets around with dozens of those. (and people who refuse to carry even one) Having them all in one place on a smart phone would make sense.
Totally agree, that would be the way to go. Bye bye Cineplex card.
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Mar 24, 2008
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samm wrote:
Dec 12th, 2013 1:48 pm
Timmies needs to add some loyalty benefits before I start using their card. Even McD have the stickers you collect with each coffee.
Did you just compare Tim Hortons with McDonald :D Agree about loyalty program though.

My only issue is with them supporting only iOS and BlackCrapBerry. Where is Andriod support bi*tches?
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Nov 24, 2013
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ksgill wrote:
Dec 12th, 2013 7:44 pm
Totally agree, that would be the way to go. Bye bye Cineplex card.
Cineplex was one of the first to put their card (Scene) on their app a few years ago. Thankfully, Shoppers Drug Mart came on board a few months ago and my wallet's been getting lighter.

I'm still waiting for Air Miles.

Fortunately too, there's an app my wife has that lets you take photos of the barcode on the back of your loyalty cards, and save them to bring up when you're in the checkout. Cashiers are surprised, but it's worked out so far.
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Mar 25, 2005
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Mike15 wrote:
Dec 13th, 2013 12:16 pm
Cineplex was one of the first to put their card (Scene) on their app a few years ago. Thankfully, Shoppers Drug Mart came on board a few months ago and my wallet's been getting lighter.

I'm still waiting for Air Miles.

Fortunately too, there's an app my wife has that lets you take photos of the barcode on the back of your loyalty cards, and save them to bring up when you're in the checkout. Cashiers are surprised, but it's worked out so far.
the SDM card only works in their test markets. AMs has an app with a card.
Newbie
Aug 6, 2011
48 posts
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Toronto
Good question. Don't forget there are credit card apps too. I see an accelerating trend of plastic migrating to apps.
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Oct 22, 2009
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ksgill wrote:
Dec 12th, 2013 7:45 pm
Did you just compare Tim Hortons with McDonald :D
Why not? McDick's has superior drip coffee anyways. ;)

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