These days, I carry little more than my iPhone and a few cards when I step outside, often removing the aforementioned items from my larger bag when I have to run an errand. Designers must be looking to fill this niche--if you start searching for iPhone wallets, the options are endless! Here are a few particularly well designed options if, like me, you like to travel light.
HEX code wallet (pictured above)
The HEX code wallet mimics the look of a Moleskine and comes in a bunch of different colors, including gold, pink, purple, tan, teal, and black. It's a fun, gender-neutral option and offers a simple and sleek look. It's made of leather.

Kate Spade Stripe iPhone Wristlet
I love my Kate Spade iPhone case. For a case that is definitely more of a fashion accessory than most, it's remarkably well constructed and very protective. So I trust the Kate Spade Wristlet to be pretty well constructed, too. It comes in several styles and colors--shop the department stores to see all the options, though katespade.com has a few web exclusives.

Michael Kors iPhone Wristlet, Python
For something with a little more bling, try the Michael Kors iPhone Wristlet in Python. It comes in black, too, if you like something a little more subdued.

Hard Graft Phone Fold Wallet
If you're looking for something a little more masculine, check out Hard Graft's wallet. This style comes in the gray pictured above, or a rich classic leather. Both incorporate felt for added protection. It's even handmade in Italy.

Callet
If you really like to travel light, the callet is a simple rubberized case with two card slots to accommodate an ID and a credit/debit card. Its name is a little silly, but the thought of carrying so little is appealing.

Marc Jacobs Dreamy Neoprene Case
This case by Marc Jacobs isn't specifically marketed as an iPhone case, but it's just the right size to carry a phone and a few necessities. Best of all, it comes in several fun colors, including lime, parrot green, blue, and peony.
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White Enamel Flatwa...
Nice. Then I will be totally lost and confused if I ever get mugged.
I love these! I'm all about travelling light at the moment.
Love the Michael Kors!
Love these, love the idea of traveling light, but oh-I-WISH! that companies would design for phones other than the i - I know, I know, too many dimensions to consider. But still, a girl can dream...
This is a great idea in theory, and I looove the Kate Spade designs...but when I use my phone, I don't want my wallet out in the open. If I was able to fit my phone (with its sillicon case) inside the wristlet and take it out as needed, I think it'd be better.
I've been using the Book Book by Twelve South for almost a year now and I love it. I don't think I'll ever go back to carrying my phone and wallet separate. The one drawback is that there is no camera hole, but I used a leather punch to make my own so now it's perfect.
This is a dangerous concept for someone who lives in New York City. Left in the back seat of a big yellow taxi and *poof* everything is gone.
i love the idea.. but don't own an iphone.. so probably for my android nothing similar exists
Additional way to lighten your wallet is to remove all of those rewards cards. My wife and I have a lot of them. We were thrilled when we found the app Key Ring. We scan all of our rewards cards into the app then throw out the card. Most scanners can scan right from the phone.
Now all I have is my phone, ID, credit/debit cards, and some cash.
Ooo wish they made the HEX one for Samsung phones. That's a girl's dream for a night out! A clutch doesn't hold very many things...
@minuet42 - I know what you mean. After seeing the gorgeous artist/watercolor cases a couple of days ago, I'm officially jealous. I have an Android tablet and phone. I will be scouring the 'net for design-y accessories.
ETA: how does one use these wallets? Do you have to remove the phone, or just fold back the cover? Before I shell out $$ or $$$, I'd want to confirm that all of the phone functions work while in the wallet.
How do you use your phone with out showing off your credit cards and wallet information? It is a nice idea if all you use is you ear buds and maybe for a night out that you will not take too many calls...but I could not use the product daily without a way to separate the wallet while I talk on the phone.
So, to take a call you hold the whole wallet up to your ear. Yes, that would look very fashionable.
Or perhaps, you try to yank it out, missing your call?
Looks to impractical to me. If I want to carry stuff, I'd rather have a strap over my shoulder than something constantly in my hand or on my wrist. A. Nnoy. Ing.
I agree with Matt, I love my Book Book also.
I think they're great.
Often, I want to have my phone on me even though I'm not planning on making/taking calls on it, except in an emergency. Like, if I'm just running to the shop and don't want to carry a whole purse, just my wallet. So I end up holding my wallet and my phone in my hand, risking droppage disasters.
Yeah, I'd love a wallet with an iPhone compartment to tuck it in.
I bought a phone wallet for the iPhone from a Hungarian source through Etsy. It took a bit of getting used to, but I have to say that it makes it much easier to find my phone in my purse or on my desk, and the chances of losing it have been reduced in my view. The design could use some tweaking but I am otherwise very pleased.
One other thing - I would love to see a phone wallet combo that also has compact storage for earphones.
I've have the Hex and the twelvesouth BookBook iphone wallet. (two iphones.. don't ask) you can use them fine in the wallet
FYI the local Marshalls and TJMaxx in my area has the Hex Wallet for $12.99
I have an Android with a rubber case. All I do is slip my ID and debit card behind the phone. They fit, and nobody can see them when I am using the phone. I love it!
I bought a cheap Vera Bradley wristlet on ebay and it fits my smartphone, a few cards, and attaches to my keys. If I want to use my phone I just pull it out and am good to go. It's not amazingly stylish but it's ultra light and hard to lose.
Nice post - I went with a nice retro looking wallet/case from Portel - and I love it :)
http://www.etsy.com/listing/87950118/iphone-ipod-touch-retromodern-aged
@Dave Hornsby
Judging by the picture, it looks like the iPhone is pretty stuck in there. Isn't it difficult to pull out every single time?
Beware that phones have a nasty habit of wiping the magnetic strip of cheap cards, when kept together. At least don't slip your hotel keycard in with the phone.
@Hellcat, I was thinking along the same lines when I read this. Don't make it too easy for the thieves.
I agree with a few other posters that you can really lighten your load when you get an app like CardStar for all those rewards cards! Not only does it hold all my rewards cards numbers (from my REI card to my library card!) but it also alerts me of sales and offers. I've opened cardstar to see what shops had sales before heading out.
II also hear the concern of this option in a really big city. I've used a clutch as my primary wallet for years- I just toss my phone in. For city travel, I tend to carry a satchel or a "city bag", large enough to toss small purchases in. In that case, if I'm worried, I put my phone in an inside pouch of my satchel. But the truth is that sometimes, you risk being robbed or mugged of everything anyway. I think the risk is neglible.
I have the HEX case, and haven't had issues with theft. I usually fold back the cover when taking calls; it creases the leather, but that's a trade off I'm willing to take instead of taking the phone in and out of the case. I generally don't take calls in public, so don't worry about my credit card showing - and no, it doesn't de-magnetize.
My only point is that it doesn't shield the phone very well from drops if you're using it. That said, I love it for its ability to let me travel lightly.
My favorite case for this is the Little Black Book by Pad&Quill (http://www.padandquill.com/) I just like REAL things, and the baltic birch and leather.The handcrafted quality and design is hard to beat.
The Hex Code Wallet looks good, but showed serious signs of wear after only a few months of use by my husband. Also, the super tight fit of the card slots caused his credit card to crack. Not worth the money or hassle in his opinion.
I just use a little zippered case from Target that has enough credit card slots inside for my credit and debit cards, ID, and library card. I don't have an iphone, mine is actually a bit larger, so I bought the first thing I saw that fit the phone. :-) It works great and I'm actually loving the incentive not to carry tons of stuff in my wallet...
I prefer things separated
http://somostienda.com/products/bags/canvas-wallet-2