Credit card security is hugely important and it’s also nothing new. You’ve probably heard of an RFID-blocking wallet before and if you have you know many people have pushed for them to become common use because of their abilities to keep your data and information secure. RFID blocking wallets have been around for quite some time and many people still swear by them, but are they really as useful and helpful as we think they are at protecting our information?
What exactly does it do? Essentially, people can read your credit cards, even your passport and driver’s license, without ever needing to swipe them or see them in person. This is, of course, a terrifying thought. Just by simply existing someone could steal your personal information. How they do this is through RFID—radio frequency identification technology. This is when RFID blocking wallets became a big craze—something that could effectively protect you from being the victim of identity theft, credit card fraud and more.
You might be wondering how these particular wallets can protect against this technology and the simple explanation is that these wallets and sleeves use sometimes foil or other metals to block the waves and frequencies that the thieves are using to try and access your information. It means all of the information stored in the chip or swipe of your credit cards and drivers’ licenses won’t be able to be accessed because there’s essentially a barrier keeping them out.
Do they really work though? Many people say they do, and while they do offer up some initial protection, versus having nothing at all, experts say that RFID blocking wallets don’t entirely work, and some work better than others, but none are entirely fool proof. When experts tested 10 RFID blocking wallets, they found that not a single one entirely blocked out the radio waves used by RFID technology. This is a pretty sad statistic, especially when these wallets were praised and become all the rage for quite so long.
However, when it comes to RFID technology, it’s important to remember that while it is possible to this kind of theft, it happens far less than you might think it does. Of all forms of identity theft and credit card fraud, only about 1% are committed using RFID technology. Of course, if you’re in that 1%, that’s unfortunate, but the reality is that it’s not as common as the media has hyped it up to be.
Also, with Apple Pay gaining prominence and other forms of paying, you’re susceptible to other forms of credit card fraud that are far more likely and that an RFID blocking wallet couldn’t protect you from.
Ultimately, RFID technology is a scary thought and the wallets do offer up a small amount of additional protection, so it’s really up to the individual. They can’t guarantee it won’t happen to you, but if it makes you feel better, something is better than nothing, right?
