With the ever increasing amount of identity theft taking place, one is reluctant to let the credit card leave one’s sight. Even if the credit card is always in your possession, there is still the possibility of electronic skimmers to steal your credit card data.

Javelin Strategy and Research has proposed an ideal credit card:

“NEW YORK – Imagine a credit card that lets consumers set restrictions for its use – for example disallowing cash advances. And sends out alerts by mobile phone or e-mail if there’s a major change in the account. And promises help in resolving ID theft or fraud.

Such a “dream card” doesn’t exist yet, but Javelin Strategy & Research of San Francisco believes that if it did, it would make a dent in the growing problem of identity fraud in the United States.”

link: Research group says ‘ideal’ credit card would have e-mail alerts, consumer-set restrictions

Even if there was an initial fee associated with such a service, many credit card holders would consider it added security. Your credit card could email you or call you on your cell phone.

Catherine Forsythe

Tags: credit cards, identity theft, security, email, cell phone calls, javelin strategy and research, restrictions