Photo Identification on Credit Cards
Photo identification on the credit cards is not a new idea to the UK; however it is rarely used. Credit card companies began offering to place a person’s photo on their credit card to make the identification process easier on the clerks as well as to protect their consumers. The fact is a lot of the consumers don’t take part in this process. Part of the reason is having to send in a picture, but added to that it takes longer to get the card if you want your picture on it.
It is the opinion of some that our society endorses and encourages identity theft because of our practices with credit cards. This opinion is backed by the quick system they are trying to install in more countries. The tap and go system or pin system in which you don’t have to sign unless your purchase is over 10 pounds is just adding to this theft idea. For those who use the system you are able to just tap or swipe the card and then move on. In some places like the UK you are using a pin, but still if someone has found out your pin information they can go around to several different places using the card and pin for under ten pounds until they have maxed out the card. Hopefully by then you would recognize your card was stolen and stop the fraudsters before they took everything, but the point is the credit card companies to a certain extent are making it easier to steal information.
The chip and pin system is harder to hack. The chip cannot as yet be read by a fraudulent machine and cracked with ease. This does make it safer for the cloning aspect of cards, but there are still a high percentage of cards that are stolen from purses and wallets that can be used in the old fashioned way. The store clerks don’t look at the cards. The self service card machines also detract from the whole signature identification process.
As a UK resident it is up to you to make sure that your card is safe. By having the photo on the card you can verify who you are when you hand over the card. Hopefully a clerk will at least be able to look at the picture on the card to make identification a little easier.
This will not stop the identity theft problem. Many of the fraudsters are going for the personal records. They are hacking into retail store computers and downloading a lot of personal information. This information is then cloned in a card or sold to someone who will use the information.
Another issue with credit cards and identity theft is the online use of the details. As long as the fraudster has the right information the card can be used online. The worst thing is using that 3 digit security code on the back of the card. We are placing that in online sites to verify our identity. It is up to consumers to protect themselves.
Credit Card Updates June 2008
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Credit Card Identity Theft Tips
Photo Identification on Credit Cards
Refunding Money: Credit Cards
Saving Money When You Have a Credit Card
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