Information Center – News and Articles about Credit Cards
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News about credit cards
Compare Credit Cards, but Choose Only One
We can never predict what high-tech developers will offer us tomorrow. It is well known that demand breeds supply. Today's fast growing financial services market has lots of things to offer to numerous plastic card owners.
It was estimated that an average American carries around from three to six different cards. These are credit and debit cards, discount and loyalty cards. It seems that there is more plastic in one's wallet than paper. Many people find inconvenient carrying around so many cards. Why not use a digital wallet?
No matter how carefully you compare credit cards and choose only the best, you still have to carry around many different plastics. If you are afraid that one day your wallet just burst this information is for you.
A brand new electronic device called iCache is going to be launched on the market early next year. It is now marketed as a secure digital wallet that consolidates all your plastic cards into one small device. With only $99 you will be able to get a small and secure gadget that can mimic all your credit cards.
Now let us see how it works. After you purchased iCache from any of your credit card issuers you will need to register all your cards on a web-site. Then upload this information on your iCache. When you want to use any of your plastics, activate the device with your thumb. There is a biometric strip that reacts on your fingerprint. After that on its screen you look through all the cards that you have. After you have chosen one, a real plastic card pops out. On its magnetic stripe information of the credit card you chose is temporarily loaded. After one use this information disappears. So, one can say iCache is convenient and secure.
Alongside with all its advantages there come some disadvantages. What concerns many people is security. If iCache's web-site is hacked many people will suffer losses. Despite of the fact that Jonathan Ramaci, the founder of iCache claims it to be very secure, you cannot be absolutely sure in it. Which is more it is not wise to put all eggs into one basket.
This device is quite fragile, so you will not be able to put it into your back pocket for fear to break it. You will not also carry it in your wallet because it will not fit in it. Where should you carry it? In a special case?
No doubt that iCache will be a tidbit for fraudsters. All information about one's personal finances in one device! And only one fingerprint away! So, to steal your fingerprint and an iCache will be a matter of honor for any fraudster.
So, unfortunately you cannot be one hundred percent sure that you are not going to suffer from identity theft or credit card information fraud.
Well, maybe it is more reasonable to wait and watch how things will go on for this new piece of technology. Whether there are any problems and how are they solved. And only then apply for one.
But iCache can be used in many other different fields. It can solve problems with hotel electronic keys, airline boarding passes and resort branded currency. It can really be a multifunctional electronic device that combines all sorts of data holders that are shapes into a regular plastic card.
If you have something to say, please leave your comments below.
Articles about credit cards
The subject of credit card use by young adults is much talked about online and offline, in magazine and internet articles. There are supporters and opponents of issuing plastics to young people among credit consumers and financial experts. However, many of those hair-raising tales about graduates that collect enormous debts are just boogieman stories. The statistics shows that young people became more reasonable in credit card management and most of them do not have loads of debts.
A recent opinion poll conducted among college students revealed that 92% of young adults realize that damage credit history and low credit score could have a negative effect on their future financial standing and cause problems with qualifying for loans.
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Financial crisis, mortgage and credit crisis, real estate crisis, what other crises do US citizens have to suffer from? It is just some epidemic of crises! Talking about epidemic, health insurance crisis is another hardship Americans are going through. Medical services take a bite out of your wallet. This year, according to recent surveys, Americans healthcare expenses exceed last year's medical spending by nearly $1,500.
The thing is that insurance companies have significantly raised healthcare insurance costs for customers. Many people just cannot afford paying for medical insurance. The government understands that many citizens' financial standing has shattered due to the economy recession. And the authorities do not stay indifferent to people's problems. They try to find an alternative solution.
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Have you ever noticed that all credit cards in circulation look the same except the color and picture on the front? The common features are size, shape, the magnetic stripe, the signature stripe, hologram and the number emblazoned across the front. Many people are so used to the standard credit card design that they don't pay attention to these physical characteristics. If you want to know why all plastics from different American issuers share the same structural features, read our article. We will tell you 10 interesting facts that cover their technology.
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12:06 AM, October 24, 2007, Megan
I think iCache is a convenient and easy in usage device. It provides with security.