Users can then use their devices to tap and go at participating stores rather than taking credit cards out of a wallet, purse or pocket. Apple Pay, for example, securely stores personal information and credit card numbers on an iPhone or Apple Watch. Credit cards connected to devices like smartphones or smartwatches provide an alternative form of contactless payment using the same technology as contactless credit cards. Sometimes called “tap and go” or “tap to pay,” contactless payments are up to ten times faster than other forms of payment. Every credit card should have at least a magnetic strip on the back and credit card information printed on the card. A card with contactless technology looks much the same to other cards, regardless of other technologies. Many credit cards now have chips built in, but the chip that permits you to “insert” instead of “swipe” is not the same as a contactless card. The card emits short-range electromagnetic waves containing your credit card information to be captured by the point-of-sale system and processed to complete the transaction. What Is a Contactless Credit Card?Ī contactless credit card uses RFID technology to enable you to hover or tap a card over a card terminal as a means of conducting a transaction. It’s a fast, easy and fairly secure form of payment for many cardholders and merchants. Contactless-equipped cards use radio frequency identification (RFID) technology and near-field communication (NFC) to process transactions where possible.Ĭontactless payment is an alternative to swiping or inserting a card into a card terminal. “Contactless payment” refers to a no-touch form of payment using a credit, debit or gift card on a point-of-sale system equipped with the adequate technology. These are provided as guidelines only and approval is not guaranteed. This is just one scoring method and a credit card issuer may use another method when considering your application. You can take advantage of this offer when you apply now.Ĭredit Score ranges are based on FICO® credit scoring. This online only offer may not be available if you leave this page or if you visit a Bank of America financial center.
Contactless Cards – The security of a chip card, with the convenience of a tap.
A 3% fee applies to all balance transfers. After the intro APR offer ends, 18.24% – 28.24% Variable APR will apply. 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days.No annual fee and no expiration on rewards.That means you could earn 3.75%-5.25% cash back on purchases in your choice category. If you’re a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase.Newly expanded categories based on Bank of America customer feedback! 3% cash back on Gas (to now include Electric Vehicle Charging (EVC) Stations) and Online Shopping (to now include Cable, Streaming, Internet and Phone Services).Earn 3% cash back in the category of your choice – now with expanded categories, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
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