Competition is very stiff in credit card world. This competition can result positively to us, such as lower price or rates on the other hand it also results negatively such as bad performance or services delivered to the customers. There’s also some awareness necessary towards the current trends in credit card practices. One trend in the credit card industry that is on the rise is the ability to wave and go. You will find it very easy to wave your credit card at a card reader however there should be some awareness since there might be some hidden dangers to using this technology.
Wave and go techno logy works by placing a small computer chip with tiny mini antenna that can respond to radio waves form the card reader inside your credit card. There’s no signature and no PIN number required in this technology. If you don’t carefully pay your attention to it those small purchases can add up quickly and you may not notice how much money you’re actually spending. You can quite often find this wave and go card readers at fast food restaurants, convenience stores, drugstore, movie theaters or others.
Another credit card features that attract people is the reward plans such as bonuses or cash back. Be careful when using these plans as your criteria for choosing which credit card you affiliate with since you may find these rewards will disappear when your least expect it. Rewards can be beautiful, but don’t let them be you deciding factor to choose your credit cards.