Quick Credit Cards

A new social networking site has made a small splash by offering users the opportunity to share – or “blip” – their recent credit card purchases in a similar way that “tweets” are shared on Twitter. The website is called Blippy and it has recently started a beta site to gauge those who might be interested in a site that will allow the sharing of all personal finances.

How Does Blippy Work?

The site’s founder, Philip Kaplan, started Blippy in 2008 as a way to allow you to share what you’ve bought with your plastic. If you sign up, you can register your credit or debit card into the service – as well as other accounts like Amazon, Zappos and Apple’s iTunes store – then your profile will post your purchases as you make them. For instance, an example from the website is “Sammy spent $11.12 at iTunes” then lists the actual purchases made.

Is Using Blippy Safe – Or Wise?

A lot of critics have surfaced regarding this site, which sounds like a dangerous idea in the world of identity theft. Kaplan notes that the site has all of its security controls in place, including privacy features that could lock out certain vendors from credit card data collection. However, even if all of the privacy features are guarded with an iron gate, the real question we should be asking is, “Is this wise?”

Not saying that using Blippy is a good or bad idea, but if you think about it, is there any real reason that you would need to share your personal purchases with the world? Well, are there any reasons that you shouldn’t? Aside from the risk of identity theft, how about upping your chances for being robbed or burglarized by telling people how much money you’re spending regularly?

With banks and financial institutions already taking their own fees from your credit cards, the last thing you would want is to threaten your financial security or safety to share details about your personal financial decisions. So just remember, if the site gets up and running and you do sign up, how much are you sacrificing to share a few not-so-significant details about your life?

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