Is the end of plastic a reality?

Posted in 'Personal Finance' by Richard Catlin

10 September 2008

Credit card giant Barclaycard announced this month that it expects the need to carry plastic credit cards to become a thing of the past before too long.

Following the successful launch of its ‘contactless’ One Pulse card, Barclaycard has announced plans to roll out new technology that does away with traditional cards altogether. The One Pulse card has an in-built Oyster card and as well as being a credit card, and can also be used as a One Touch cashless payment card for purchases of less than £10.

A new ‘RFID’ chip that can be imbedded in a mobile phone or key fob is being developed, so swiping a card may no longer be necessary.

Until such time as this new technology gets even close to changing our shopping habits, you can see which cards are matched to your credit rating for free on checkmyfile here. Most people can save hundreds of pounds by switching to cheaper cards.