Anti-Theft RFID Wallets For Credit Card Blocking BF Blog

Anti-Theft RFID Wallets For Credit Card Blocking

Every few years my husband requests a new wallet for his birthday, Father’s Day, or even for Christmas.  It mainly depends on when he wears out his current wallet. However, by now I know not just to buy any leather wallet.  I have learned that he requires Anti-theft RFID wallets for credit card blocking. I do not take into consideration the style, size, or number of credit card slots.  Also, I do not care if it is a slim wallet that will fit snugly in his pockets. The focus is the protection of his debit cards and/or credit cards in his wallet from identity theft.

You might wonder how a wallet can protect your credit card, debit card, and even your bank accounts from identity theft. It all comes down to the current technology used by most financial institutions that is designed to protect our personal information.  However, hackers are always using their intelligence to circumvent any added security.  Hence, Anti-theft RFID wallets for credit card blocking became necessary.  Let’s delve into the world of RFID-blocking technology.

What Is RFID Technology?

RFID technology is a radio frequency identification wireless system. It uses radio waves to communicate between the tags on your credit card with the credit card reader.  The small microchips on your cards send a radio signal to the card reader receiver.

When the card is waved or tapped near a reader the following information is transmitted via radio waves: credit card number, expiration date, cardholder’s name, and serial number linked to the credit card. The card scanner then processes the transaction in a secure system. All this information is stored on the tiny chip embedded in the credit or debit card. Consequently, you can see why criminals would want to scan your card. The card stores a wealth of information that is very useful for identity theft.

RFID Adoption

In the early 2000s, the banking industry began to switch to RFID readers that allowed contactless payments. This new reader allowed the consumer to use the RFID chips on their cards to tap the RFID reader to facilitate a purchase.

This new technology was adopted by Visa, American Express, and Mastercard because of the security in 2008.  These new electronic chips afford more security than the traditional swipe technology. However, this technology has been around since 1995. Click to learn more about the history of Contactless payments via Global Payments Integrated.

RFID cards are considered to be as safe as EMV chip cards. Data theft is typically uncommon because RFID cards use one-time codes to complete each transaction. It creates a new code every time a card is used to make a purchase. However, it is possible for scanners to retrieve card information without the knowledge of the cardholder. These scanners have the capability to grab information from as far as 10 feet away from the cardholder. An RFID Blocker can prevent this.

What Makes Up The RFID Blockers

Any material that can interfere with electromagnetic fields can block RFID scanning. The most common materials used are carbon fiber, aluminum, and leather. However, in the worst-case scenario, you can wrap your card in tin foil to prevent any kind of skimming.

Why Do We Need RFID Wallets?

Per the FTC, credit card fraud accounted for 40.2 percent of identity thefts.

RFID protection is needed to prevent criminals from using an RFID scanner to steal from a victim’s cards or they can clone the chip to obtain access to their data. This is called skimming.  An RFID skimming device can be placed on the reader, or the scanner can be used in crowds of people. Using the scanner, they can access a person’s banking system to steal a person’s identity from the contactless credit cards in their wallet. Therefore, electronic chips must have some type of protection.

The only way to block this is to buy an RFID wallet designed to block thieves from plucking your credit card information right out of the air using the same technology as the RFID readers. Just like the card reader, they will have quick access to all your credit card details. Hence, they can steal your identity from credit card companies, any credit union, or financial institution. It can even be used to steal information for your smart wallet on your phone.

RFID cards are much better than swiping and using the old credit card imprinter machines with duplicate copies which made your personal data very easy to steal.  Unfortunately, criminals also stay up on the current technology and always seem to find ways to steal sensitive data.

Types Of RFID-Blocking Wallets

My husband prefers a genuine leather wallet with card slots, an ID window, and a place to hold his cash. My son on the other hand prefers a minimalist wallet that seems to be all the rage these days with its modern designs. Their main purpose is to eliminate clutter and force you to carry only what you need.  Subsequently, they are slim, compact, and have fewer compartments and pockets than a typical wallet. They stack your extra cards within the wallet for easy access. They remind you of an old money clip, just a more advanced way of holding your credit and debit cards. These modern wallets also have RFID protection.

Finally, the cost of an RFID leather wallet can run from $8 to $50 depending on your taste and the features available.  The minimalist wallets start at about $50.00.

Is There An Alternative?

For those of you like me who prefer more fashionable wallets where RFID protection is not available, there is the RFID sleeve. I slip my credit and debit cards into the sleeve and then insert them into my wallet.  It works by creating a protective shield around the card to prevent thieves from recording and stealing the information stored inside the chip. Hence, the sleeves provide the same protection as a wallet, and the cards are still easy to access. They run from $6 to $10 for a pack of 3 to 28.  They come in a lot of fun colors to help you easily identify the card you want to use.

Recap Of Anti-Theft RFID Wallets For Credit Card Blocking

RFID-enabled credit cards and debit cards are the safest way to execute a transaction. However, let’s face it, criminals are never going to give up trying to scam you out of your personal data to commit fraud. Therefore, you should always be vigilant about protecting your identity. Here are steps you can take to aid in preventing identity fraud.

  1. Get RFID protection via a credit card wallet or sleeve.
  2. Do not carry all your credit cards with you every day.
  3. Put purchase alerts on your card with spending limits.
  4. Check your statements each month.
  5. Check your credit report for any suspicious activity.
  6. If you are not in the market for new credit freeze your credit reports at the credit bureaus.
  7. If you are not using your credit cards freeze them via your banking app.
  8. If your credit card information is stolen, immediately report it and request a new card.

You can never be too careful with all the data breaches and the creativity of today’s crooks. Therefore, your best option is to use an anti-theft RFID wallet for credit card blocking along with any of the above steps. These little extra steps can go a long way when trying to protect yourself from thieves.

This content is for information purposes only.  I do not endorse any of the companies mentioned.  Please research and do your due diligence. I do not get paid if you click any of the links.

Additional Reading For You:

Is Credit Card Fraud a Felony?

What do CID and CVV mean on a credit card?

How to manage credit card debt

Importance of Adding Tradelines To Your Credit Report

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