Would you like to pay with reward points, or credit? Just press the button on your credit card and a microcomputer rewrites the information on the magnetic strip, letting you switch payment types. A tiny light lets you know which one is active. That’s a new kind of credit card, the “2G,” Citibank is testing out starting next month.

The 2G will be offered to Citi Dividend Platinum Select MasterCard and Citi PremierPass Elite rewards program customers. The technology, called “Redemption,” was developed by Dynamics, Inc, which made a big splash recently demonstrating cards that let switch between several credit card accounts on one card and cards that required you to enter a PIN on them before swiping.

Credit Cards Soon to Get a Makeover [NYT via LowCards]
Redemption product page [Dynamics]

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