{"id":17398,"date":"2010-11-02T20:00:19","date_gmt":"2010-11-03T00:00:19","guid":{"rendered":"\/\/www.askmrcreditcard.com\/news\/?p=17398"},"modified":"2010-11-02T20:00:19","modified_gmt":"2010-11-03T00:00:19","slug":"in-defence-of-dumb-cards","status":"publish","type":"post","link":"https:\/\/www.askmrcreditcard.com\/news\/in-defence-of-dumb-cards\/","title":{"rendered":"In Defence Of Dumb Cards"},"content":{"rendered":"

Yesterday, I told you about how credit card companies were coming up with some innovative, if pointless technologies to include in our credit cards.\u00a0\u00a0\u00a0\u00a0 Today, I stumbled across an article that was published two weeks ago<\/a> in the New York Times that seems to refute the idea of smart cards.<\/p>\n

Why Are Dumb Cards Better?<\/strong><\/p>\n

The idea is that credit card fraud has been coming down steadily, so there really is no urgency to replace the good old magnetic strip.\u00a0\u00a0\u00a0 Furthermore, who needs chip and PIN technology when so many gas stations terminals are already asking you for your zip code, something that is pretty easy to remember.<\/p>\n

Who needs a radio frequency id chip so you can waive your card in front of the terminal?\u00a0\u00a0 The idea was that you wouldn’t have to hand over your card to be swiped, and that you wouldn’t have to sign for purchases.\u00a0\u00a0 In reality, most stores now let you swipe your own card, and signatures are no longer required for small purchases.<\/p>\n

The article also explores the roots of why credit card technology in the US differs from that in Europe.\u00a0\u00a0 Ironically, we have less technology in our cards because we have traditionally had better technology in our communications system.\u00a0 We were able to check card numbers against a central registry, while the Europeans traditionally relegated the security to the card itself.<\/p>\n

The article talks about “pay wave” technology that will allow purchases without having to swipe or sign.\u00a0\u00a0\u00a0 Personally, I like the idea of having to do these things before making a purchase.\u00a0\u00a0 The last thing we need is to make it too easy for people to use their credit cards with just the flick of their wrists.\u00a0\u00a0 Taking out the very little effort remaining is an induction to both fraud and overspending.<\/p>\n

The fact is, many cards already have some version of this technology.\u00a0\u00a0\u00a0 Take a look at the back of your American Express sometime.\u00a0\u00a0 There is actually a little symbol that looks like four radio waves emanating.\u00a0\u00a0 Occasionally, I see this symbol on card readers.\u00a0\u00a0 I have even tried it a few times, and it only worked once, so I never bothered again.\u00a0\u00a0\u00a0 The fact that most people aren’t even aware of this feature is further proof that no one really cares how much technology you can deploy, they just care what the tech can do for them.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday, I told you about how credit card companies were coming up with some innovative, if pointless technologies to include in our credit cards.\u00a0\u00a0\u00a0\u00a0 Today, I stumbled across an article that was published two weeks ago in the New York Times that seems to refute the idea of smart cards. Why Are Dumb Cards Better? […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"yoast_head":"\nIn Defence Of Dumb Cards<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In Defence Of Dumb Cards\" \/>\n<meta property=\"og:description\" content=\"Yesterday, I told you about how credit card companies were coming up with some innovative, if pointless technologies to include in our credit cards.\u00a0\u00a0\u00a0\u00a0 Today, I stumbled across an article that was published two weeks ago in the New York Times that seems to refute the idea of smart cards. Why Are Dumb Cards Better? 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