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Crowdsourced credit card lets members share in profits and decisions

document Crowd Creativity, Distributed Knowledge
Earlier this month Barclaycard US introduced the Barclaycard Ring MasterCard, billed as “the first social credit card to be designed and built through the power of community crowdsourcing.”

Currently in alpha testing and due to launch officially next month, the Barclaycard Ring MasterCard card will have one low interest rate of 8 percent for all balances, with simple, easy-to-understand terms and no balance transfer fees or annual fees. Through a virtual community, meanwhile, cardmembers will get to see the card’s financial profit and loss statements. They’ll also have a forum for exchanging ideas and suggesting new features.

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