I totally agree with all of your points. The thing I found most interesting was the two posts in a week. I liked the candle design and the credit card…they were both cute. Whether they are worth two clog spots…I don’t think so.
One application I can see for this credit card/money clip is as an advertisment. In fact, it seems made for that. Maybe a little give away in a mass-mailing or at a booth at a fair (I don’t know where credit card companies advertise…under rocks?). Cute design always works well in advertising.
One last thing that just hit me though…the credit card companies make money when you charge things. If you are able to carry more money around…you will use your credit card less. That’s bad design for his client!