Before I get into this post, I’d like to point out that Plastc SHOULD NOT be mixed up with Plastiq. Essentially, this was the ‘all-in-one’ Card that could allow you to load multiple credit cards into one single credit card, in which you would be able to switch between the loaded cards promising NFC with Chip&Pin.
Bad news for those of you that pre-ordered this card a while back, because it seems like the company is exploring different options swaying towards filing bankruptcy. This should have been expected considering the constant delayed shipments dating back to 2015 on top of changing their business models.
| BONUS LINK | OFFER | REVIEW |
| Chase Business Complete Checking® | $300 or $500 Cash | Review |
| Chase Private Client | $3,000 Cash | Review |
| Chase Total Checking® | $300 Cash | Review |
| Chase College CheckingSM | $100 Cash | Review |
| J.P. Morgan Self-Directed Investing | Up To $700 Cash | Review |
| Chase Secure BankingSM | $100 Cash | Review |
Recommended Credit Cards:
- Chase Ink Business PreferredSM Card
- Citi ThankYou® Premier Card
- Gold Delta SkyMiles® Credit Card from American Express
Plastc Bankruptcy Summary:
- Plastc, Inc. is exploring options to file Chapter 7 Bankruptcy and will cease operations on April 20, 2017.
- “However, without the necessary capital to continue, all employees have been let go”
- “We were expecting to close a $3.5 million Series A funding round on February 28, 2017… At first, the principal investment group postponed their investment and a couple of weeks later the round fell apart. “
How To Get Refund:
Chances may be slim, however, it’s worth a try. Now, if Plastc filed Chapter 7 Bankruptcy, it means that they have no available money left to plan any means of repayment, and for unsecured creditors (you), it may be too late to get a charge-back considering they have no available securities. However, thinking as optimistic as possible, here are some things I’d want anyone who pre-ordered this card to do:
- First and foremost, you could dispute this charge with your credit card company as product purchase that was never received.
- File a Class-Action Lawsuit. If you’re looking for where exactly, be sure to comment in the comment section and we’ll get back to you.
- Filing a Class-Action lawsuit may be flimsy considering that, again, they do not have any money left and there’s strict procedures that go into filing for bankruptcy. Still, fingers crossed that a class-action does come through.
Editor’s Note: Curious to see if any mobile wallet companies will pick up and finish production on this Bluetooth Card.
Plastc Card Features:
- Chip and PIN
- E-Ink Touchscreen
- Bluetooth
- Flash Memory (up to 20 cards)
- Rechargeable Battery (30-day charge)
- Re writable Magnetic Strip
- Re-writable RFID/NFC
- Wireless Charging
Conclusion:
If you were apart of the 80,000 who did not receive their Plastc Cards, the reasoning behind this is due to Plastc inefficiently moving their funds with primary investors and the whole project seemed to fall apart, in which, “a couple of weeks later the round fell apart.” It’s always necessary to consider just how much of a risk pre-ordering products are since you practically have no protections on the premise that you aren’t buying a product, you’re backing a project.
First and foremost, you could dispute this charge with your credit card company as product purchase that was never received and see how far you get from there. Kind of unfortunate, definitely interested in this card’s technology in a hopes that it’d bring something innovative to the table. Maybe some mobile wallet companies will pick up and finish production on this Bluetooth Card because there clearly is a market for it. Find out which card is right for you by checking out our complete list of Credit Card Promotions today!
