Overview:
In the past, when you lose your credit card you frantically look for it, cancel your card, and hope it hasn’t fallen into the wrong hands. The new hidden credit card takes the worry out of losing your credit card or having it stolen. With the use of small digital screens, built in buttons and a programmable magnetic strip, your card is safe whether it is in your wallet or in the hands of a thief.
Security:
Unlike conventional cards, the hidden credit card requires the owner to enter in a 5 digit personal identification code before each purchase. By using the 5 built in buttons on the card, the user must know the code in order for the card to be active. The credit card number on the card is incomplete until the code is entered. Once entered in correctly, the code will activate the card and a new set of numbers will populate on the built in digital screen. The programmable magnetic strip will then update to contain the new information and you will be able to swipe the card for your purchase.
After the purchase is made the magnetic strip wipes clear of all information and the numbers disappear from the screen. This causes the card to become useless until your identification code is entered again and new numbers are populated on the screen.
Multiple Accounts:
For those with more than one credit card, Dynamics Inc. is also catering to you. With a new multi-account card, you can have one card for 2 accounts. With the built in buttons allowing you to choose which card you would like to make the purchase with. The same security can apply if the owner chooses, with a personal identification code and incomplete credit card numbers.
The innovation however is in the magnetic strip. As you choose the card you want to use, the strip is programmed with the card information allowing you the choice of using the card you want for the purchases you want. This will eliminate the need to carry multiple cards. They even have a card that will allow you to choose between paying with credit or rewards. This offers more versatility, security and convenience to current credit card users.
The cards are the same size as your conventional credit cards and can even be tossed, dropped and bent without damaging the electronics inside the card. For those that are wanting more security with less worry, the new hidden credit card may be your best option. Currently the cards are being tested by Citibank in select cities across the US, but are expected to be a sensation among credit card users.
Andrew Bennett is a finance writer who offers advice on finding and obtaining an instant approval bad credit card for those with poor credit.