It does hold credit cards, ID and other standard size items of the like...barely. It is fairly durable and has not shown any real signs of wear in the month I have owned it.
BUT - unless you truly enjoy folding every bill into precise thirds, you will hate this wallet. Basically, I have to shove my change into a pocket after checking out and then neatly fold it in the car or the wallet will not latch. This is problem because the aluma wallet provides zero friction to your valuables. With only gravity to keep the entire contents of the wallet from ejecting at any time, latching securely is not something you'd want to leave to chance.
I would say the ideal use for this item would be credit card/gift card organizer for a purse, but for day to day use a more conventional wallet would save you some annoyance.