What are the Best Credit Cards?
The Best Credit Cards On The Market
Credit cards have become incredibly popular over the last few decades, and there is no shortage of new innovations that results in some of the best credit cards. The best credit cards offer novelty and convenience that consumers eagerly enjoy. So what’s the market coming up with now?
PayPass: The Wave of the Future
Possibly one of the best credit cards is due out in the near future. It is actually not a traditional plastic card that we have become so used to. Very soon Mastercard, Nokia, and 7-Eleven will be participating in a six-month trial in Dallas, Texas. The trial run will test a technology called NFC-enabled mobile phones. NFC stands for near-field communication. The cell phones have Mastercard “PayPass” which is a contactless payment capability.
Credit cards that are equipped with PayPass don’t have to be swiped to complete a transaction, which is why many consumers feel like they are the best credit cards you can get. Consumers simply have to wave them in front of a reader. The six-month trial in Dallas, Texas will test cell phones that are equipped with these same capabilities. Combining the popularity of cell phones with the convenience of contactless payment capabilities has many consumers excited.
While cell phones equipped with NFC capabilities would provide an incredible convenience to consumers, these cell phones come with the same risk of identity theft that PayPass credit cards might have. As a consumer, you have to balance the level of risk you are willing to assume and are comfortable with. For some consumers if having the best credit cards means there is a slight increase in risk of identity theft, they would rather forgo the added convenience
As a consumer, you can minimize some damage caused by identity theft by being vigilant. Request credit reports from each of the three major credit reporting bureaus each year. Make sure you also check your credit card statements thoroughly for any unusual charges.