Remember a few years back when ex President Obama announced the security enhancement by having chips inserted in your credit card. That was supposed to be the chip that prevents credit card theft. The chip had coded and encrypted information it it. Well, it’s obvious that chip did nothing to prevent theft on your credit card. In fact, credit card theft is probably out of control. One year, I’ve had to replace my credit card three time because of theft. I get a call from my credit card company that someone in Japan purchased two vehicles. Another time the call was for purchases from Prada in Italy.

While not Obama’s fault, it was just another dumb idea from the government. now-a-days, It is so much easier to make purchases with your credit card. You make a purchase either online or in person and the card go right through. It use to be the cashier would at least pretend to see some identification. They didn’t even notice you didn’t sign the back of your card. No questions asked anymore. Of course, you end up arguing with the credit card company to verify it wasn’t you who made the purchase.

Here’s a novel idea.

You know when you do something like make an appointment or connect with an agency online, and immediately you get a text message to verify it’s you. What is in that text…a personal code. It takes no time to receive the code. You plug in that six or eight digit number and you are connected instantly. Why don’t the credit card people send a code to your personal mobile number on record and instantly you get an approval. After all, everyone has a mobile phone.

Maybe the chip wasn’t such a good idea to prevent theft. Maybe the personal code sent to your text is a better answer to prevent theft. www.thebizzway.com