CreditCards.com has teamed up with Wallaby Financial, a mobile and Web-based optimizer for credit card solutions, to develop a new mobile application featuring easily accessible financial content concerning rewards programs.

The WalletUp mobile app, available for free on both Android and iOS platforms, offers consumers a plethora of financial resources, including how to maximize credit card rewards. Designed for consumers with multiple credit cards and rewards platforms, the app is set to streamline financial content in a personalized format.

“There are competitors in the app market, however, CreditCards.com certainly adds the important ingredients of brand recognition and trust,” said Rob Hoxie, vice president of business development and partnerships for Atimi.

“For those using Apple Pay later this year, the iPhone will already be out for purchases, making WalletUp more likely to be used to choose which card in Passbook to select,” he said.

Maximizing rewards
Once consumers download the app onto their smartphone, the app asks for basic information to be entered, such as which credit cards they use and how and where they typically use them. Afterwards, consumers are directed to answer several questions about their favorite types of rewards.

WalletUp will then offer personalized recommendations according to the customer’s profile on which credit cards will lead to the most rewards. It also shows how much more money needs to be spent to attain a particular reward.

Many consumers belong to multiple rewards programs, and WalletUp aims to maximize the potential from each one. Often times, individuals are not aware of the significant rewards they can receive simply by using a specific card at certain vendors.

Clients will also be able to discover whether cash back, airline cards or low interest options are the most optimal rewards for them.

The app is marketing itself as ideal for the upcoming holiday shopping season. For those traveling, many hotel chains and restaurants offer significant rewards during the holidays.

Financial features
WalletUp’s other main features include comparison tools for credit cards and help managing due dates and credit limits. It covers foreign transaction fees, bonus offers and reward points.

Other features include charts detailing spending patterns, such as what percentage of income a user spends on restaurants, insurance, accounting and miscellaneous retail. It also displays which credit cards vendors and retailers accept, in case a consumer needs that information prior to making a purchase.

The app is the latest in a slew of mobile payment and cloud-based apps aimed to optimize financial planning and streamline content for guests, and claims to maintain bank-level security. For consumers with a multitude of credit cards, WalletUp could serve as a beneficial organizational system with a few perks added in.

“This sounds like a helpful and insightful point of sale service for consumers as long as it’s a quick and easy process,” Mr. Hoxie said. “Assuming the app provides utility, over time, users should become more receptive to their services or products, whether subliminally or overtly.”

Final Take
Alex Samuely is an editorial assistant on Mobile Commerce Daily, New York