There haven’t been a lot of physical improvements to your standard credit card over the last 30 years. To my knowledge, they’ve always been just plastic, a magnetic strip, and raised numbers. The folks at Dynamics, Inc. plan to change that up a bit. They are producing second generation, or 2G credit cards.
What Do 2G Cards Do?
The first prototype to be picked up my a major card company (Citi) is the Redemption™ card. The card has buttons, a battery, and a chip. The user of this card has the choice when swiping the card whether to use credit or rewards points. So instead of having to wait for a check to use your rewards, you can redeem them instantly. Not something I’m terribly keen on, but you may find it useful.
Another 2G card in the works is a card that hides your credit card number using a digital display, and 5 button access code pad. The card can’t be used unless you first enter you pin. I can see how credit card companies would benefit from such a card. But I would find that annoying. Another card that I particularly liked is the card which serves two accounts (e.g. credit and debit) and you use buttons on the card to designate the account you want to pull from.
Get a 2G Credit Card
To get a Citi 2G credit card, you need to be a part of their pilot program. I have not heard exactly how they chose to roll this out to current customer, but some apparently have it. If you do, I’d love to get your thoughts. New Citi customer can’t get one of the cards just yet. They have a landing page built for the card, but no place to apply or even sign up to get notified.
One other place you could look is the Dynamics, Inc. website. They have a form to complete to be notified about upcoming pilots of the cards. I’m not exactly sure how this works, but I signed up a few weeks back and haven’t heard anything. We’ll see.
Could you see yourself using a 2G card? What new design would like to see?