Frequent flyer miles. Hundreds, even thousands, can be yours if you just sign on the dotted line and apply for one of numerous credit cards. With visions of world travel and luxurious hotel accommodations blurring your common sense, it can be so easy (and tempting) to sign on the dotted line. Next thing you know, you're charging up a storm with all this newfound credit, and somehow, that exotic trip around the world still seems out of reach.

I too have been guilty of taking on additional credit just for the reward programs. (When I kick the bucket someday, I'm pretty sure that Visa, MasterCard and AmEx will be among those crying the hardest.) But rather than launch into a lecture about the dangers of the credit card game — I certainly wouldn't be one to talk — let me instead direct you to a new service that can at least make sure that mountain of plastic is working for you.

Wallaby, a new service that has just gone into beta recently, promises to ensure you maximize your reward programs. It basically puts your accounts onto one card, determines which offers the best benefits (say, triple the miles, quadruple points or the highest cashback bonus) and, when you use the Wallaby card, directs your transactions to the optimal choice.

Users register all their accounts with the service, then get an actual, physical Wallaby card to charge all their transactions on. The service parses those options and charges the one with the greatest perks in those instances. There are also some finetuning controls, in case people want to slate a certain percentage of their spending to particular accounts, which are also configurable via mobile app.

While I don't advocate rampant credit card use, as the financial dangers are pretty apparent, it does make sense for those who do use plastic to get more out of it. And this is actually a pretty nifty solution to a fairly prevalent problem. I know that when I'm in a store or restaurant, I often struggle to remember which card is the best to use in a certain scenario. It's a smart idea to combine a physical card with the back-end chops to make this effective, intuitive and seamless.

The first 1,000 people to sign-up for this beta get lifetime free memberships, so if you're interested in taking this for a whirl, be sure to hit up the Wallaby website for more info or to sign up for the list.

[via TechCrunch]