Consumers Urged to Remember Safe Credit Card Behaviors

Those using credit cards with chips in them are still vulnerable

Shaun Plum
MoneyTips Contributor

Borrowing Credit Cards

Consumers Urged to Remember Safe Credit Card Behaviors
April 13, 2016

When credit card companies unveiled the new credit cards with microchips in them, they were hailed as a new defense against identity theft and fraudulent charges. However, this new protection has led some consumers to become more lax in how they protect their credit card information.

With credit card fraud now topping $16 billion every year in the country, card users need to be aware that chips may slow down credit card number theft, but they have not stopped it completely. This is owed to a number of factors. First, most cards still have a magnetic strip on them that contains information. A credit card scammer can use a small device to steal data from that strip. Once stolen, the information can be used to make purchases online and over the phone. Second, many retailers have not yet made the transition to using chip readers, providing scammers with ample opportunity to steal information.

Cybercrime expert Robert Siciliano reminds consumers that as long as credit cards contain the magnetic strip, fraud will continue. In addition to using skimming devices at retailers and ATMs, there are new phone apps that can record credit card information by simply touching a consumer’s wallet for a brief period.

Consumers are urged to remember to keep their PIN numbers secret, use only encrypted WiFi when making online purchases, and to use a wallet or wallet card that blocks smart phone scanning devices.

If you want more credit, check out MoneyTips’ list of credit card offers.

Photo ©

  Conversation   |   10 Comments

Add a Comment

By submitting you agree to our Terms of Service
Elaine | 04.14.16 @ 15:49
Thanks for the infor. I was wondering how long it would take them to figure out how to steal from this new technology. Nothing apparently is safe from hackers.
Carla | 04.14.16 @ 15:49
People should never ever let their guard down when it comes to credit card security. It scares me how many people prey on the ones who aren't careful.
irene | 04.14.16 @ 15:50
I try to be so careful about my credit cards but somehow somebody used mine to download stuff from itunes.
Erin | 04.14.16 @ 15:50
Great reminder that your information can never be 100% safe from those who are determined to get it. Thanks for the quick tips that we should all be reminded of.
STOKES | 04.14.16 @ 15:50
I really should be more careful with how I use my cards, especially my debit card.
Steffanie | 04.14.16 @ 15:51
No matter how secure they make something, there will be someone who is able to hack into it. Always have to be on the defense with your privacy.
Sarah | 04.14.16 @ 15:52
yeah, I am currently dealing with an issue involving our card. it's not fun that is for sure!
Amanda | 04.14.16 @ 15:53
I honestly think no matter what we do to protect ourselves or companies, the hackers will always be 1 step ahead. Only thing we can really do is either not use them at all, or constantly check for purchases you know you haven't made. Either all these card alerts and programs that are supposed to help you don't catch them all.
Chrisitna | 04.14.16 @ 15:56
Wow... That bit about the phone app that can get information if it briefly touches your wallet is crazy! It is scary that thieves are always coming up with new ways to access our information. And, even though all my cards have chips, we still have retailers that have not upgraded their machines and can't process those chip cards yet... it's hard to keep up with technology!
Mary | 11.25.18 @ 05:54
How do I find a wallet that prevents theft by a smartphone?
$commenter.renderDisplayableName() | 11.27.20 @ 17:00