Month: June 2020

Five Things You Should Know About Contactless Rfid Credit CardsFive Things You Should Know About Contactless Rfid Credit Cards

What is a contactless credit card and how does it work?

For decades, credit cards have relied on magnetic stripes located on the reverse side of the card to store data. To transmit this data, the card must be swiped through a magnetic reader, making physical contact with the stripe. A contactless credit card, on the other hand, stores its data on a chip embedded in the card’s plastic. This data is transmitted not magnetically, but rather via a tiny radio signal when the card comes in close proximity of a special reader at the checkout stand. This works through radio frequency identification technology, also known as RFID. When the chip comes close enough to the reader, an antenna on the chip is jolted to life by the electromagnetic field created by the reader, and transaction data is sent to into the system.

What are the advantages of contactless credit cards?

For starters, these RFID credit cards are much faster and more convenient than traditional magnetic stripe cards. A cardholder simply waves the card over the reader, waits a moment for the acceptence signal from the machine, and that’s it. There’s no need to fumble for cash, and with transactions under $25, there is no need to key in a PIN code or sign a receipt. Just wave and go. Also, since the card never leaves the user’s hand, it is considered by some to be more secure.

What are the disadvantages of contactless credit cards?

Some opponents to contactless credit cards have contended that there are security risks with using these RFID credit cards, as the radio transmission could potentially get intercepted by a criminal with malicious intentions. The good news, however, is that the actual credit card number is not transmitted via radio wave. Rather, it is a unique encrypted code only good for RFID transactions. Also, just like ordinary cards, cardholders are not liable for any fraudulent charges.

Where can contactless credit cards be used?

Currently, Visa Contactless, American ExpressPay, and MasterCard PayPass are available at select retailers in certain locations in the United States, including 7-Eleven, McDonald’s, KFC, Arby’s, Walgreens, Sony Style, Wawa, Sheetz, CVS Pharmacy, and a variety of movie theaters. Retailers capable of handing contactless credit card transactions will have a special symbol on their credit card reader located at the checkout stand. RFID credit cards can also be used at any location that accepts ordinary credit cards, since the new contactless cards will still have a regular magnetic stripe on the back.

Who offers contactless credit cards?

All new American Express Blue and Blue Cash cards now come equipped with the contactless feature. Also available from American Express is an RFID key fob that can be linked to most existing credit card accounts. Chase has teamed with MasterCard and Visa to offer Chase blink cards in a variety of styles.

Chase Starbucks Credit CardChase Starbucks Credit Card

For all of us coffee lovers and addicts out there, Chase has introduced the Starbucks Duetto Platinum Credit Card. It acts as both a reloadable Starbucks card AND a reward-earning credit card! So you can quench your caffeine thirst and save money.

After merging with Bank One (previously Chicago’s largest bank), Chase Bank of Manhattan is now by far the largest bank in America? some claim that it may even be the biggest financial institution in the world! Chase not only offers various credit cards, they also offer services such as personal accounts, insurance and lending. With such a huge company unveiling the Starbucks Duetto card, we know that it is not only legit, but that it also will have great rates!

Upon activation, enjoy a 0% introductory APR (annual percentage rate) for up to 6 billing cycles, no annual fee, and a wide range of other VISA benefits. After that, there will be an automatic $5 donation made to the Starbucks Foundation when you make your first purchase on your new credit card and you also receive $10 free Duetto dollars! There’s more! With each purchase you make after that, you can earn a full 1% back towards your Starbucks Duetto Dollars. When you subscribe to the automatic reload program, you get a 3% cash rebate.

Once you’re signed up, you’re eligible for even more Starbucks perks. Earn points towards a pound of coffee, receive updates on Starbucks news, and experience the convenience of two cards in one in the Starbucks Platinum Duetto VISA card! Plus your local Starbucks barista is bound to give you even better service once they see which credit card you choose to carry in your wallet. They will see that you are committed to supporting your favorite coffee shop.

Before you purchase your next Starbucks coffee, apply for the Starbucks Duetto Platinum Credit Card. Then every time you use your credit card, you’ll be saving money on your coffee purchases. Even if you only use this credit card as a reloadable Starbucks card, it is worth it to support the Starbucks foundation. Start saving money today.