New Ways to Keep Your Credit Card Safe

Posted on October 4 2010 by Imogen Gwynne

New Ways to Keep Your Credit Card Safe

Credit card safety is often overlooked by cardholders, most of whom assume that the credit card issuer takes all of the necessary precautions to keep their credit card safe. Unfortunately, even with the best fraud protection plan it’s possible for a credit card to be stolen and used fraudulently before anyone is aware of what’s happening. The following information reviews some of the latest security measures being used by cardholders around the world.

Card Sleeves

One form of credit card theft that has become fairly common is merchant theft, in which a clerk or employee writes down the card number and then uses it later to shop for items online. To prevent sales clerks from seeing the card number during routine transactions, many people are using credit card sleeves. These sleeves leave only the name, the last four digits of the card, and the signature on the back visible for merchants to see.

Keypads on Cards

This technology was developed and introduced by a company in Australia, and is now being used in Switzerland, Israel, Italy, and Great Britain. The ultra-thin keypad is attached to the card itself, and requires the cardholder to enter their PIN number to receive a one-time authorization code for a single purchase. These personal keypads basically put the keypad in the hands of the cardholder, rather than on the merchant’s counter, where others may be able to see what buttons the cardholder is pressing.

Cell Phone Confirmation

Some cardholders are even using advanced cell phone applications to authorize purchases. Cell phones are being sold with built-in applications that carry the cardholder’s personal information. At the time of purchase, the cardholder confirms their identity using their fingerprint, thereby gaining access to their account information. Some stores are even providing discounts for people who use this technology.

RFID Cards

Radio frequency identification (RFID) chips are now being used in some credit cards to transmit data by waving the card over the terminal. Although this is not an extremely popular solution at the moment, it is garnering attention in many groups. Some people question the safety of RFID, and the reliability of sending private data through radio frequencies. As a response, some security companies have proposed biometric fingerprint scans similar to those being used in mobile phones, mentioned above.

Standard Security Precautions

Using standard security precautions in combination with one of the aforementioned technologies is the best way to ensure the safety of a credit card. Never leave credit cards where people can steal them, never share or write down the PIN number, and never trust the merchant with the card when they’re out of sight. Be mindful of who receives credit card information, and never shop online at unsecured websites.

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