In the past, credit cards come in a single size, one that resembles the dimensions of a standard rectangular business card (on landscape orientation). It’s a good size actually – it’s large enough to fit into any wallet, billfold or purse. Anything larger would make the card difficult to keep, and anything smaller would make the card likely to be misplaced. For years this was the norm but lately, some credit card companies have decided to challenge these dimensions.

In some countries, credit card companies have introduced a new kind of credit card. These cards have the same components as the original credit card (number, name, expiry date, magnetic stripe, signature strip, etc), are recognized too by many international merchants, and have the same features as a standard card. What makes these cards different is their relative size. These credit cards are almost 30% smaller in dimension than the average credit card and, surprisingly, despite the size, many clients are clamouring for this innovation.

Compact credit cards are becoming a craze in some societies, primarily because of their small size. When these cards are issued, these usually come with their own carry-on-case and, since they are so small, they can be placed almost anywhere. What makes these convenient is the fact that some of these compact cards have a small hole at one corner and some users thread a chain through this hole and wear the card around their neck (which, they claim, is safer because the card is always close to their body).

Although reducing the size of credit cards is not exactly a high-tech feature, it has, increased consumer interest in the product. Through this innovation, the card has crossed over from being a serious business item, to being something hip, fun, and trendy.