New Credit Card May Be Solution To Identity Theft Problem

Thursday, January 12th, 2012
Updated: January 12th, 2012
The content is accurate at the time of publication and is subject to change.

Identity theft – specifically credit card fraud – is one of the fastest-growing crimes in the United States. Dynamics Inc. a company focused on innovating payment cards and payment card systems, has unveiled a potential solution at the 2012 Consumer Electronics Show in Las Vegas, Nevada.The new card they have developed uses special technology to randomize six of the digits on a user’s credit card every single time they use it. A one-time use code would be generated for all transactions, whether they are conducted online or in person, which would render the card more or less useless to a thief should the card get stolen, so claims ArsTechnica, a tech news blog. How it works is a brand new number displays itself on a built-in screen during a transaction, only after the cardholder punches in a personal code on a five-button keypad that is embedded in the card. When the card is not in use the screen remains blank, as does the magnetic strip on the back.

That magnetic strip is most impressive innovation of the card. It is programmable in real time to transmit the necessary data to complete payment following which it can be wiped clean in an instant.

This makes it possible for a single Dynamics Inc. card to be used for multiple lines of credit, meaning that an individual can manage both their business and personal credit card accounts from the same card, for example. When a card has two accounts on it, the user chooses which account to use by pushing a button, and the one selected lights up.

The card has the look and feel of a traditional credit card and is as durable – it can be kept in pocket, wallet or purse and even withstand being bent without any damage done to the internal electronics. However on a Dynamics Inc. card where there is typically a raised string of numbers spanning the card’s face there is an LCD screen.

Should the card get lost or be stolen, a fraudster can’t use it without knowing the personal code to punch into the keypad. Because each credit card number is unique and generated for each transaction, no data lingers on the card for a would-be thief to hack. Currently, Citibank is using the cards in some small pilot programs.

Each card comes equipped with a battery that is said to last three years.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Latest Other Card News

Tuesday, June 20th, 2023

A student loan refinancing typically involves taking out a new loan to pay off your existing debt. Refinancing student loans can potentially lower your interest rate, fees, or/and allow you to get better repayment terms, helping you save money. However, it is important to consider whether your loan is private or federal and what benefits […]

Saturday, December 26th, 2020

2020 has definitely been a very unusual and challenging year. Many of us have been waiting for its end more than ever. And now, when there is less than a week left until the beginning of the new year, it’s time to sum up the outgoing one and find out the results of the annual […]

Friday, September 11th, 2020

Walmart is finally ready to introduce a new subscription service offering free same-day delivery and fuel discount. Walmart+ was supposed to go live back in July, however, it was delayed due to the COVID-19 outbreak. Now the launch is planned to take place on September 15. The new product will help you order any goods […]

Thursday, August 27th, 2020

This month, American Express introduced its new tool called MyCredit Guide. The Amex website says: “We believe everyone should know their credit score and have the tools to understand it better.” That’s why the new feature was developed. Using the tool, you can find out your credit score and take a look at your credit report, […]

Saturday, March 7th, 2020

A virtual credit card is a unique credit card number that is linked to your main credit card account but is different from the physical card number. The virtual credit card number allows to shop online or over the phone without using your physical credit card. The numbers can usually be used once and expire if not used. The cardholders can also delete the numbers if they want or need to.

Best Credit Offer
Surge® Platinum Mastercard®
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 4 / 5
Horizon Card Services Group One Freedom Card
Copyright © 2001-2024 All Rights Reserved.

See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions. makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that may be compensated by the credit card issuers when the readers apply for a credit card through this site. is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. does not review or list all available financial or credit offers.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.