The US-based credit card optimization service Wallaby has released the second version of its iOS app today, bringing more granular control over cards and adding integration with Foursquare.

While the phrase ‘credit card optimization’ would often (at best) push many people towards taking a short nap, what Wallaby actually does is pretty nifty. Essentially, it allows you to add your existing credit cards to your account and then just use a Wallaby card instead. It then automatically decides which card to use based on which will provide the best bonuses, cashback or frequent flyer miles, for example.

As well as providing this core functionality the new iPhone app allows users to track monthly, quarterly, and annual credit card spend minimums, credit limits and APRs. Advanced users can also set their own values for loyalty points and to activate bank bonuses providing a more granular level of control over their rewards than was previously possible.

“We are confident in saying that consumers have never had access to such a deep and accurate credit card data set. This combined with continuous improvements to our algorithms make our iPhone app the obvious choice for anyone that values credit card rewards and cash back,” Wallaby Financial’s founder and CEO Matthew Goldman, said.

Wallaby2 iOS Wallaby 2.0 for iOS adds Foursquare integration to its roster of credit card talents

In addition to adding deeper controls, Wallaby has also added Foursquare integration giving users instant notifications of which of their credit cards offers the best rewards for purchases at a specific restaurant or shop.

The release follows hot on the heels of the introduction of its Wallaby Wallet Boost feature which analyzes the cards you currently have against your reward goals and then suggests which other cards you should get to achieve them.

While over indulging in credit card spending isn’t something to be recommended, if you do find yourself frequently juggling various cards, Wallaby might be a handy way to get add a little sweetener to your spending.

Image Credit – Getty Images

Wallaby | iOS