How Is The New Credit Card Helpful?

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by: ashleymiller80
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Word Count: 470
Date: Tue, 15 Feb 2011 Time: 2:02 AM
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Credit card default happens far too often to many people in America. There are so many cases each year that many people end up closing their accounts for good. Credit card fraud and credit card default are two major issues that many card carriers end up going through at one point or another. Luckily, a new card might to prevent fraud and keep more credit card carriers safer.

Last month, Dynamics, Inc. produced to the public the idea of an electronic card that would help users avoid the woes of fraud. This card has five buttons located on its top, lettered from A-E. These buttons are used for one’s passcode to be entered, which only the user should have at all times. If the passcode is not entered before a purchase is made, the magnetic strip located on the back will not be functional. This of course leads the card to be declined.  Therefore, if a person steals a credit card and tries to make a purchase, they will be unable to, preventing fraud from even happening.  CEO of Dynamic, INC. Jeff Mullen states, “If you lose the card or someone steals it, it’s a dead piece of plastic.”

The card has many similarities to the card that many people are used to. Two major differences are the five buttons and the thinness of the card itself, which only averages about 0.33 inches. The card itself is waterproof and has a battery life of four years as well.  For any user who wants this card, there are many options that are available. A user can access their debit account and their credit account while also accessing their credit rewards program to pay for a purchase. You choose which one you want to pay with. You do not have to worry about carrying so many different cards around with you at all times.

Citibank was the first bank to give this card a trial run but due to the popularity of the card, many more banks are offering to offer the card to their clients as well. Therefore, the demand of the card is expected to increase throughout the next few months.

Technological advances are being made all around us and we can see how they are affecting our credit cards as well. While this card can help protect a person from credit card fraud, it will not protect a person from credit card default. Therefore, you should pay extra close attention to your spending, now that fraud is no longer going to be an issue.

About the Author

About the Author

Ashley Miller is a seasoned veteran of the credit card industry who is now working independently to help consumers get fair treatment from the banks in this country. I strive to provide all the secrets you want to know about credit card default, and other credit card problems.