NYC Plans to Ditch MetroCard in Effort to Modernize Public Transportation System
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The nation's largest public transportation system is expected to get a major overhaul. New York City's Metropolitan Transportation Authority (MTA) will likely approve a new payment system, which will, in turn, make the current MetroCard a thing of the past.
According to The New York Times, the MTA is expected to approve a $573 million contract, which will replace the outdated paper MetroCards. Instead, the city's subway and bus systems will adopt a more modern and convenient payment method — by waving their phone, credit or debit card at the turnstiles for subways and on the fareboxes for busses. The new system would be similar to what's been used on the London Underground for years, and will also be used on the Long Island Rail Road and Metro-North systems.
If approved on Monday afternoon, the electronic readers will be installed beginning late next year on 500 subway turnstiles and 600 busses. By late 2020, the system will have reached the rest of the subway stations and busses in the MTA's network. Even though the new technology will be completely implemented by late 2020, the MetroCard won't be phased out completely until 2023.
The new system will be a huge improvement for riders, who will no longer have to swipe their MetroCard at a subway turnstile or when entering a bus. Instead, riders will be able to tap and go. In addition, the new system will be pay-as-you-go, rather than prepaying a selected amount up front. Some things will stay the same. Rather than adopting a distance-based fare system like London uses, Joseph J. Lhota, the chairman of the transit authority, said that he's not contemplating changing the MTA's flat-fare structure.
Of course, regardless of how the your payment for each ride is processed, the charge should still register the same. Using a credit card that will earn you the most on your travel purchases is the best choice, and that should remain true even when this new system is potentially implemented. Cards like the Chase Sapphire Reserve will earn you 3x points on travel purchases, including those on public transportation.
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The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
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- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month