Bad credit borrowers must remain disciplined despite high-tech credit cards

Consumers have carried around plastic credit cards in their wallets for years, but some new advances in technology may be bringing the cards into the 21st century.

Citibank has plans to introduce a new design for their card that embeds a computer chip, battery and two buttons on the front. Buyers can use the button to switch between using credit and rewards points for their purchases. That technology could soon be used to create debit/credit hybrids and other innovations.

Some companies believe that physical cards will soon be a thing of the past. Visa, MasterCard and Apple are currently working on technology that will allow buyer’s smartphones to function as a credit card, with the phone being able to transmit data securely to a reader or scanner.

The advances in technology are likely to make spending even easier for those who have credit cards, but those with bad credit should be wary of charging too much to their cards, as it can negatively impact their credit score. Using an online car payment calculator, borrowers with a poor credit score can calculate exactly how much they’ll be able to spend each much and still make their car payment on time.