Final Credit Card Reviews - What Is It?
DO NOT USE Final Credit Card!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
The Final Credit Card is a combination of a cash-back rewards credit card and an app that is responsible for security and allows you to assign any of the credit cards. In addition to these functionalities, this card also creates credit card numbers that function only one time. The card is marketed as a part fraud-fighting and part-rewards card. This unusual blend of characteristics was founded by Matt Rothstein, Aaron Frank, and Andrew Dietrich. These three entrepreneurs launched the company in January 2014 after one of the founders visited Europe when his credit card was deactivated because of the Target security breach. At that period of time, the credit card of another founder was deactivated for the same reason. Both cardholders were unable to use their cards when they needed them. At the time of this review, Rothstein was the CTO, Frank was Final's CEO, and Dietrich was the COO. As you can see, the Final Card performs three main functions: as a one-site credit card, as a rewards credit card, and as a one-time use credit card. We are going to take some time to take a look at these features more closely in this review. Once we do this, we will also focus on what real cardholders think about this card, as well as talk about any interest rates and fees associated with the card. At present, it is important to note that there is not so much information about the Final Credit Card online. The official website of this financial product is low-informative.
Customer Reviews - Does Final Credit Card Really Work?
There are very limited reviews of Final Card left by real cardholders on third-party websites. While some reviews we encountered were positive, deeming it to be a godsend card, other people were not as satisfied with the card. One website confirmed the downside that we found on MyBankTracker - the Final Credit Card could lead to certain problems when you are shopping online. This requires personal confirmation. The tech websites mentioned that other cards like Android Pay and Apple Pay may offer the same capabilities as Final one day. At the time of publishing this review, there were 18 reviews on the Google Play store that gave the card an average rating of four stars. It means that there are some negative customer reviews about the card.
There have been a few startups over the last several years who have tried to offer the customers an easy way to keep their credit cards on one card while providing formidable security and protecting their privacy. But those cards - Plastic and Coin - have folded. The Final Credit Card gives you an opportunity to assign one card for using one site. For instance, you can designate your Chase Freedom Unlimited through the app, so you can make purchases on BestBuy.com. Locking a card to a specific website decreases the risk of a credit-card fraud. If the app sees that your Freedom Unlimited is being used for buying a new living room set or gas, that transaction will be blocked automatically. The official website of the Final Credit Card says that merchant-locked cards are meant for recurring purchases through such sites as Amazon, Netflix, or Uber. When you get a card of this kind, the first purchase links the card's information to the certain merchant automatically. It cannot be used anywhere else. Payments are not made directly from the app. Final fills in the payment information when it is time to make your purchase.
The next major feature of the Final Credit Card is its ability to link a one-time use card number to your Final Card. It can generate a credit card number that is good for one purchase only. When you make that purchase, the card number stops working but as this number was linked to your Final Visa, the transaction will be available on your Final Visa statement. However, this feature is not unique to the Final Credit Card. Actually, Bank of America, Citi, and PayPal offer this feature to their customers too. Several questions remain open. Are virtual cards useful? Is it a good idea to have an app or credit card that can store many cards? There is one big drawback here. If you have only one main card and it gets deactivated for some reason, then you are stuck in trouble. You risk facing hard time. Based on Experian statistic data, the average American citizen has 2.24 credit cards. That number includes people who have no credit cards. It means that an average cardholder has three credit cards. The advantage of the Final is that they are marketing their card to almost everyone. The Final Credit Card has a number of downsides. The first one is that returns can be difficult if your card number does not exist anymore. It can be useless for non-online purchases. This card requires personal use for making any online purchases, which could cause some issues. A study conducted in 2016 from Pew Research demonstrated that 15% of Americans purchase at least one thing online each week. It is hard to believe but 43% of Americans shop online weekly or several times a month. Let us take a look at what real users of the Final Credit Card think about it.
"At first I was interested in getting the Final Credit Card but then I regretted getting the card of this kind. I understood that I don't need it, since it spoils my shopping experience. I cannot enjoy a safe and what is more important fast online purchase process. It is not a positive tool for buying something online. I cannot recommend this card to anyone."
"I received Final CreditCard a month ago but I have faced some problems with it. The corresponding app is not working for me. I am not able to make many online purchases. It is not a good shopping tool. I cannot recommend this credit card. Other credit cards work much better and are easier to use."
"I got my Final Credit card about two months ago but recently it was deactivated. I am in despair, since several of my cards were linked to this one. I regret getting this card. It is much better to carry around three cards. It can be inconvenient, especially when you are traveling abroad but it seems more reliable. I do not recommend this card."
My Final Summary
Taking into account all positive and negative features of the Final Credit Card, it appears that it is not as consumer-friendly as it is claimed on the official website. It does not present any purchasing options. Its APR is average, which is not good for people with high credit scores who can receive lower rates on other cash-back cards. This card can present some problems with transactions. The card has no annual fee and a 1% rewards rate, which makes it similar to some cash back rewards cards available on the market. You will be able to set up your virtual card for your favorite site. Based on the information we presented and the research presented in this review, Final Credit Card does not appear to be a worthy option. We cannot recommend it.
Where To Buy Final Credit Card In Stores?
The card has no annual fee and you are claimed to earn 1% cash back on your purchases online; however, it can be quite difficult to do. If you carefully read through its terms and conditions you will discover that these rewards are only given not when you make purchases but when you pay off a balance. This method is similar to what you see with another credit card, the Citi DoubleCash, which gives you 2% cash back on all purchases. 1% is given for the purchase itself and the other 1% is provided when you pay the purchase off. So, paying off your balances gives you a reward. It is hard to say whether this method is effective in provoking consumers to pay off their balances, though. The Final Credit Card does not offer any up-front rewards. There is no intro APR period or cash-back incentive. The APR is 18.15%, an average interest rate. Late fees are $25 a pop. The application process for this card is similar to that you would do when applying for any other credit card. You will need to give your personal information including your income, address, and social security number.