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Credit Card Sleeves – Combat Electronic Pickpocketing

I thought it important to pass on to my readers some valuable Travel Information about credit card fraud and the use of Card Sleeves.

I was watching the news the other day and I was just dumbfounded by how vulnerable we are to thieves in this high – tech world. It seems the latest and hottest trend for thieves is how they can easily scan your credit card information by merely standing next to you or walking slowly past you. This is called ‘electronic pickpocketing’. Experts say this is a pretty easy and straightforward method, where thieves use an electronic scanner, that looks like a small laptop or notebook and are able to retrieve account numbers, expiration dates and other important personal information.

It’s so simple, many wonder why it hasn’t been used a long time ago!

Sleeves – Fights Radio Frequency Identification

It’s called RFID or Radio Frequency Identification and with this technology, thieves can simply pass by you with a simply scanner device and retrieve all the information they need to use your credit card. This new high – tech thievery is really scary and believe or not, crooks can buy a card reader or similar device on the internet for about $100.

These days more and more Vending Machines are accepting credit cards. The reasons are obvious in that the consumer may not be carrying cash and swiping their credit card is a lot easier to do. Cash is becoming a thing of the past. Even though it may be difficult for you and me to imagine a future where we don’t carry at least some cash in our pockets, college kids only have their debit or credit card as means of payment. So much so, that they have been named Generation “P” because of their preference to pay with plastic.

Imagine not having the hassle of loose change in your pockets or trying to feed a wrinkled dollar bill into the vending machines over and over until it finally accepts. In addition, the machine itself will work much smoother since the coin mechanism and the bill acceptor don’t get used. Those are the parts most likely to malfunction and the reason why you end up kicking the vending machine when you don’t get your drink or bag of chips. Lastly you can purchase multiple items on a single swipe, rather than having to put in more money to buy that additional candy bar after getting the initial bottle of soda.

For most merchants, credit card processing is a greyish area that has a lot more in common with a smoke-and-mirrors magic act than the usual contemporary business financial transaction. Almost nothing could possibly be further from the reality! With some general details and also a good merchant account issuer guiding the way, you’ll quickly be aware of difference between a merchant account and a batch transfer (and how the previous sets one up with the latter.)

Credit card processing will start when the card is actually swiped by means of a reader (credit card terminal) that will collects account details as part of the magnetic strip on the backside of the plastic. This kind of data can be input manually, as will happen in the course of web and telephone sales and also other card-not-present (CNP) conditions. The card information, along with the order sum and merchant ID details, will be passed on over a secure computer network to the merchant services issuer (processor), whom serves as a middleman between the merchant and the credit card issuer or financial institution.

For those who have, at any time of their life, submitted a credit card application, a rejection letter is not a new thing to you. How frustrated you feel when you are refused a credit card, especially if the card was the ideal deal for you!

However, there is still hope. You can alter your situation and get your credit card application accepted by the issuer. Let’s take a look at how you can turn the tables in your favor.

Know The Reasons For The Rejection Of Your Credit Card Application

The first thing you should do after receiving the rejection letter is not cry in despair, but read the letter carefully. In most of the cases, the rejection letter contains the reasons why your credit card application has not been accepted. If it does not tell you the reasons of rejection, then it may state ways to find them out.

If your credit card application has been turned down due to your bad credit score, then determine the contact details of your credit reporting agency, which your credit card company contacted for verification.