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Dynamics' credit card-based computing platform makes what little money you have more secure (video)
Some folks are trying to replace your credit card with your cellphone, while Dynamics, Inc. is among those trying to make credit cards better. And you know what? We seldom get excited by such things, but this video from the CES New York press preview has us seriously itching to upgrade our plastic. Card 2.0 is the computing platform powering the new Citi cards that re-write the magnetic strip depending on whether you want to spend you cash or your rewards points. The technology fits snugly in your credit card, is waterproof, has a battery life upwards of four years, allows multiple accounts on a single card, and even can be used to require a PIN before displaying the card number. This is some pretty awesome stuff indeed -- but don't take our word for it! Get a peep yourself in the video after the break. [Thanks, Dave]
Redemption credit card puts points toward purchases, is destined to frustrate
Look up. That credit card right there is a brilliant concept that'll likely cause quite a few headaches in practice. Dynamics, which makes its ends by coming up with new ways to get the general populace into more debt, has just made public its Redemption payment device -- a newfangled card with a few LEDs, selectors and the ability to let users put their earned points toward any given purchase. The idea goes a little something like this: you roll up to the Old Navy checkout counter, remember that you have 4,300 points logged, and decide that you'd like to cash 'em in towards the purchase of your new threads. You tap the "Request Rewards" side of your card, swipe it and watch as your points balance and total monies owed dwindles. Currently, Citi is trialing these with a small group of consumers, with a larger US trial expected to get going next month. There's no mention of how the LEDs stay lit (or how the battery stays charged), nor any indication of how long these selector buttons will hold up over time. We also have no idea how you'll be able to easily check your point balance or split payments between points and dollars, but hey, at least there's a beautiful opportunity here for an accompanying mobile app. %Gallery-104451%
Citi discloses security flaw in iPhone app, is probably sending you a(nother) new card right now
Call us jaded, bitter or just downright unlucky, but we've received more new Citi card digits in the past two years than we know what to do with. Every other month or so, some prankster is breaking into some database and compromising some quantity information over at Citi (or at least that's how it seems), and now the frustrations have spilled over into the mobile realm. Citigroup recently fessed up to a security flaw in its iPhone app, and even Apple has joined in encouraging users to upgrade in order to maintain their dignity, identity and sanity. According to reports, just over 117,000 customers were affected, though "the bank doesn't believe any personal data was exposed by the flaw." Of course, if you'd like that to remain the case, we'd suggest you upgrade right away.
Pre-order a PS3 for just $46,000
No, the eBay markups haven't gotten completely out of control. The culprit behind the latest over-priced next-gen pre-order is Citibank, which is offering PS3s through their ThankYou network for just 46,000 reward points. With most CitiCards offering one reward point per dollar spent on the card, you're only a Cessna 172 Skyhawk away from earning a "free" pre-order of Sony's next-gen system. Citi hasn't forgotten the Sony-haters either -- an Xbox 360 is only 56,500 points, easily earnable by purchasing a small home in Idaho.A smart spender can earn bonus points by shopping at preffered merchants or banking at CitiBank, but getting enough points for a pre-order still requires thousands of dollars worth of transactions. It's enough to make those free PS3 pseudo-pyramid schemes look like a good deal.(Thanks to Eric Hikade, who was apparently crazy enough to actually do this!)
