Credit card of the future is safer, smarter - WMC Action News 5 - Memphis, Tennessee

Credit card of the future is safer, smarter

(NBC) - Some are calling it the credit card of the future; it's a card that changes its security code so crooks have a harder time stealing your numbers.

MSNBC consumer expert Bob Sullivan said it's going save consumers time and money.

"Adding this screen, this new technology to the card opens up the gateway to a whole bunch of new technologies that are coming down the pike," Sullivan said.

In its early stage, it provides security. The card will display that three-digit CVV number that's on the back of your current card.

Except this one will change frequently, meaning a thief wanting to spend your money online or over the phone would need the physical card to get an up-to-date code.

"Again, that will prove that you really are holding the actual plastic that the bank gave you and you're not a hacker who just happened to steal the number," Sullivan said.

Think of it like those key fobs that provide a constantly-updating password to get on a computer network.

But the smart cards will do more than protect you. They'll show things like account balance, credit, coupon codes, and maybe even a tip calculator.

The hardest part for the card maker? Making sure it can take a beating.

"The battery has to live for years and I think most importantly, it's got to be able to live through a couple of rinse cycles in your washing machine," Sullivan said.

All that technology may come with additional fees. Consumers can see if it's worth it starting next month when Mastercard and banks will begin issuing the cards.

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