Barclaycard US has unveiled a crowdsourced 'social credit card' that will have its features shaped by an online community of users.
Currently available in alpha to Americans who request an invite, the BarclayCard Ring MasterCard will officially launch in April with an eight per cent variable APR.
Barclaycard says the card will develop through the "power of community crowdsourcing" as social media gives users the chance to share knowledge and provide feedback that will shape future features.
In addition to a dedicated Web site, the firm has established a - at the time of writing, minimal - presence on Twitter, Facebook and Google+ to help build up the community.
Barclaycard says that as well as being more open to cardholders' suggestions, it will be more open about how it is run, giving customers access to its profit and loss statement.
Meanwhile, a 'Giveback' scheme will see cardholders get a share of the profits themselves so that "everyone has a stake in making Barclaycard Ring successful and profitable, not just us".
In a blog on the Barclaycard Ring site explaining the decision to seek customer input, community manager 'JaredY' cites the devastating drop in confidence in banks among Americans over the last few years and movements such as Bank Transfer Day and Occupy Wall Street.
Says the post: "Whenever I'm having a conflict with someone, I think it helps to sit with that person in a room and have an honest discussion. This is the best way to truly understand one another and come to a common ground that both people can live with and feel better about. Think of the Barclaycard Ring community as that room."