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A Guide for the Survival of Humankind and Helping the World, Society, and Yourself.

How to Make Credit Cards More Secure

I recently received a replacement credit card for a card that was about to expire. This is the credit card that I use most often for day-to-day shopping. It has a nice 2% cash back for purchases in department stores, gas stations, and supermarkets. Perfect for quickly making purchases without the hassle of counting bills and coins and with the added benefit of some money back.

When I first looked at that replacement card, I realized a quick and easy way for credit cards companies to make purchases more secure. Issuing a new credit card is the perfect opportunity to also issue a new credit card number. That means if someone steals my credit card information, such as a company is hacked and all their credit card information is copied, then my old credit card information is useless to the thieves. Since my old credit card number would have been deactivated when I activated my new card with the new number, I would have more security and less to worry about concerning previous purchases.

I only see two problems with my idea. First, some people have auto-charges applied to their old credit cards, such as monthly bills. These auto-charges would have to be reconfigured with the new credit card information. Second, some people pay their credit cards via online banking accounts, so these accounts would also need to be reconfigured with the new credit card information too.

To make it convenient for customers, this new security feature could easily be an option for credit card consumers to decide upon. Additionally, I would think this added security would add little or no cost to the credit card companies. It is a win-win security option for credit card consumers and companies.

by Phil for Humanity
on 01/09/2008

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