Credit Cards
recommended by
our experts

Get Cards
Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Tomorrow’s Credit Card Deals – No Chances for Fraudsters

2007-08-23

All the latest news and articles on credit card and ID fraud are harping on the same tune - credit card fraudsters are easily fooling banks' flagging system watching for suspicious purchases as though it were a primitive puzzle. Fraudsters use various curious methods for their malicious purposes - from common fishing to hacking your PC - and they always seem to be a step ahead of the newest security tools.

 If credit card fraudsters are so much at ease stealing your credit information whenever you make a credit card deal or transaction online, then how much confidence do they actually have when you are careless using your card at the nearest store?

Yes, there have been many talks on the security of credit card deal making online. We already know about Security Socket Layers and special software on your PC protecting your personal and financial information. But when it comes to pulling your plastic out at a shop, your security is put in danger and the safety of your credit card data is totally your responsibility now.

But as practice shows, common credit card users are either too careless swinging their plastic or simply cannot believe they can be attacked.

Anyway, it is the credit card charges you make at your local super market that make up more than half of all credit card fraud cases registered.

However, while most people are unaware of the potential danger their credit card is exposed to, researches in the field of technology development and implementation are working hard to introduce a new security device that promises to leave no chances to credit card fraudsters

If the plan proves to be a success, customers will soon be facing a significant change in the way they effect credit card payments in a shop. Remember how you usually do it? You come up to the checkout counter, pull out your credit card, hand it over to the cashier for a swipe and then... write your signature on a paper receipt.

And you never know that your credit card number or signature may be easily copied and used for making fraudulent purchases later on. You must have heard of the numerous cases when shop assistants contribute to the disclosure of your credit card information to the third party and then you find your financial and credit card account information being sold on the black online credit card market.

So, what about the new device designed to protect your identity and credit card? MIT researches have made a statement that radio tags attached to your MasterCard can substitute your signature and even your security code while you are effecting a payment! If it's not yet clear to you how the system works, then read on...

The radio transmitter on your plastic sends out radio waves, and due to this possibility you do not need to expose your unique signature and security code to the cashier and so endanger your personal and credit information.

You just need to move your fingers over the credit card reader and it sends your signature and security code straight off to your credit card company for verification and purchase authorization.  What can be more secure than communicating directly to your credit card provider, without involving the third party?

The new device is not only proficient in protecting you but also convenient in use. As a rightful owner of your credit card, you have the authority to turn on and off the radio tags when needed. You can switch them off for greater protection from thieves but it still seems improbable that criminals can detect and track the signals.

The new highly sensitive and accurate technology makes it impossible for credit card thieves to cope your unique signature and so it is another big step towards provision of less theft in the industry of credit. 

Share Opinion:
del.icio.us   digg   Furl   YahooMyWeb   Propeller   Reddit  
Comments not found
 

If you have something to say, please leave your comments below.

Your Name: *
Your Email:
Your Comment: *

Enter Number from Picture: * number

* - Required Fields Add Comment
[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
Comments (0)
[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
Comments (0)
[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
Comments (0)
* The CreditCardSpecialist.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. CreditCardSpecialist.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the CreditCardSpecialist.com website are property of their respective owners.
We do our best to maintain the information accurate at CreditCardSpecialist.com. However, all the credit cards information is subject to change and presented without warranty. See the up to date credit card terms and conditions on the secured credit card application page. Note that CreditCardSpecialist.com may be compensated by credit card issuers when visitors apply for a credit card through the links on this website.
CreditCardSpecialist.com, an independent, advertising-supported website, receives compensation from the companies whose offers appear on the site. This compensation impacts where and how credit products appear on our site, including, for example, the product listing order in which they may appear on separate pages. CreditCardSpecialist.com does not present or review all available credit or financial offers.
Disclosure: Not an access card.