Just when you think it can’t get worse, it does.
According to a credit card executive I spoke with, credit card thieves run a series of numbers – something like a lottery.
Master Card, Visa and American Express each start with identifiable numbers.
Credit card thieves then append random numbers and keep running them through a program.
Eventually, they hit the lottery – your card. You can’t understand how it happened – or why there were 10 charges to your card in a matter of minutes for high end purchases in another state.
The card was never out of your site, and you haven’t even used it in the past few weeks.
Credit card theft is now truly virtual. If credit card companies know this is happening, what are they doing to stop it? Not much it turns out. RFID protection won’t stop those lottery programs, but it can provided an added layer of protection.