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The biggest credit news this week is all about credit card innovations, as Coin and Google Wallet tread new ground.

The Risks & Rewards of a New Credit Gadget: Coin

A new product coming to the market in the summer of 2014 could change they way you organize your wallet.

Coin, a gadget roughly the size of a credit card, can be loaded with up to eight different loyalty program cards, debit cards or credit cards, allowing you to consolidate your wallet. For a limited time, the company is selling the gadget for $50, though the normal price will be $100. Running off an app that you can upload with as many cards as you like, Coin is billed as the all-in-one wallet.

The convenience of Coin does come with some security differences that consumers should understand before signing on. The Coin is set up to deactivate if it loses contact with your smartphone for a period of time you can adjust via the app. Also, Coin won’t be usable for a while as the company completes development.

@cdigang @CreditExperts

Google Goes Analog With a Real Debit Card

Google announced this week that it will offer Google Wallet users a physical debit card to use at any merchant that accepts MasterCard payments.

The debit card is issued by The Bancorp Bank, and will also allow consumers to withdraw cash from any ATM or bank that uses MasterCard. If you’re already using Google Wallet for online payments, you’ll need to request a card be delivered to you. Users of the Google Wallet debit card will be limited to the balance they’ve loaded onto the card, with a maximum of $5,000 per 24 hours. That limit does not include cash withdrawals.

Like any debit card, Wallet card users should be aware of ATM withdrawal fees. While Google will not charge a fee to withdraw money, some ATMs do charge a service fee.

@cdigang @CreditExperts

5 Tips to Maximize Your Black Friday Credit Card Rewards

As Black Friday approaches (we’re only a week out!), many consumers have started crafting their own personal shopping strategies of where to shop, and what they want. However, an important and often-forgotten strategy you should craft is how you’re going to pay for your gifts.

Jason Steele explains that rewards credit cards can be a great tool for holiday shoppers, especially with so many issuers offering 5% cash-back bonus categories at brick-and-mortar and online retailers. Just be sure that any purchases you make can be paid off once the balance comes due (which, for many, will come before Christmas), as any rewards you may get from purchases can be eaten up by interest payments.


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