Information Center – News and Articles about Credit Cards
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News about credit cards
Credit Card Developers Found a Solution for ID Theft
Identity theft is a plague of modern credit card market. The problem of credit card crime is one of the most acute and burning issues for US credit consumers and lenders. It is not only card holders that suffer from ID fraud and other fraudulent activities, credit companies and banks incur even greater losses. Nearly all credit card offers come with 0 liabilities on unauthorized use. However, none of the card owners is 100% safe from credit card fraud.
But credit card designers' long-term search of the perfect weapon against identity theft seems to be crowned with success. Biometric credit cards - that is the solution of credit card crime problem.
The analysts of SmartMetric Inc. (a company that develops, manufactures and commercializes biometric security systems, based on embedding on plastics finger prints) started the development of a credit card with absolute protection against fraudulent practices over eight years ago. And finally they succeed. They have created a perfectly safe credit card.
Now let's take a closer look at this wonder-plastic.
It looks like just a regular credit card - just another low rate, rewards or a no fee credit card in your wallet. With the difference that you do not have to put your signature on it and you do not need a PIN number for your card. How does it protect you then?
The credit card has a tiny embedded fingerprint scanner and reader in it. This is the smallest device of the kind ever created in the world. It is battery-powered. The battery inside the card is really-really thin. Your hands are your weapon against credit card scammers.
You have a guarantee that you are the only one eligible to make purchases with this card. No one but you can use it, unless you have a clone with the same fingerprints. Only after your fingerprints are checked, identified and approved you can pay with your plastic.
Though the device is really small, it can store all your personal information. This way, your personal info does not get to a central database. It is all on your plastic.
If you really take your credit card security issues seriously, a biometric card is the key to your peace of mind. Every time you will need to make any sort of credit card transactions, you activate your plastic with a light finger pressure to make the authentication system work. No need to leave your personal information at any retailer. This nanotechnology became not just another credit card innovation, but a real breakthrough in the credit card industry.
Though the final design of this card is still in the process, the perfected release version will be an effective remedy from your credit card security headache.
These biometric credit cards will definitely give some really hard times to credit fraudsters. They will have to rack their brains and figure out a new way of making their living. While credit issuers and card holders will sleep the sleep of the just.
If you have something to say, please leave your comments below.
Articles about credit cards
The subject of credit card use by young adults is much talked about online and offline, in magazine and internet articles. There are supporters and opponents of issuing plastics to young people among credit consumers and financial experts. However, many of those hair-raising tales about graduates that collect enormous debts are just boogieman stories. The statistics shows that young people became more reasonable in credit card management and most of them do not have loads of debts.
A recent opinion poll conducted among college students revealed that 92% of young adults realize that damage credit history and low credit score could have a negative effect on their future financial standing and cause problems with qualifying for loans.
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Financial crisis, mortgage and credit crisis, real estate crisis, what other crises do US citizens have to suffer from? It is just some epidemic of crises! Talking about epidemic, health insurance crisis is another hardship Americans are going through. Medical services take a bite out of your wallet. This year, according to recent surveys, Americans healthcare expenses exceed last year's medical spending by nearly $1,500.
The thing is that insurance companies have significantly raised healthcare insurance costs for customers. Many people just cannot afford paying for medical insurance. The government understands that many citizens' financial standing has shattered due to the economy recession. And the authorities do not stay indifferent to people's problems. They try to find an alternative solution.
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Have you ever noticed that all credit cards in circulation look the same except the color and picture on the front? The common features are size, shape, the magnetic stripe, the signature stripe, hologram and the number emblazoned across the front. Many people are so used to the standard credit card design that they don't pay attention to these physical characteristics. If you want to know why all plastics from different American issuers share the same structural features, read our article. We will tell you 10 interesting facts that cover their technology.
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