What is an RFID protected wallet and how good is it?
Table of Contents
Introduction
What is RFID?
How can your credit card information be stolen?
What can thieves do with your credit card information?
Why do you need an RFID Wallet?
Best RFID Wallets in 2023
Conclusion
Introduction
Is your wallet RFID protected? If not, it’s time you get one that is! Continue reading, and we will discuss with you the importance of having an RFID Wallet.
Everyday life is transforming to take advantage of digitisation. We have gone from traditional classroom experiences to students preferring to study online. Conventional media i.e. TV, print and radio are becoming niche while online media i.e. YouTube, podcasts, Reddit, Netflix and social continue to grow. Online shopping is disrupting brick and mortar retailers. Similarly, the modes of payment have also evolved – from cash to swiping or waving credit or debit cards or even cryptocurrency.
Along with these developments, people with ill intentions are also not lagging behind. Traditional thieves have evolved into digital hackers. That’s why we also have to level up defences to make sure that we protect ourselves from these bad people.
Wallets are where you safe-keep your valuable belongings like your credit cards, debit cards, and ATM cards. These cards are the storehouse of your wealth, and once personal information in these cards is compromised, you know you’re in deep trouble.
Wallet manufacturers understand the need to level up the functionality of their products. With this on hand, a lot of wallets nowadays have a Radio Frequency Identification (RFID) blocking system that will serve as protection for your data.
If you are new to RFID protection, we will run you through the basics of it and will give you suggestions on the best RFID Wallets available in the market.
We will discuss the following in this article:
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What is RFID? |
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How can your credit card information be stolen? |
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What can thieves do with your credit card information? |
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Why do you need an RFID Wallet? |
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Best RFID Wallets in 2019 |
What is RFID?
RFID stands for Radio Frequency Identification, which is a technology that uses radio waves to read and capture information stored on a small tag attached to an object.
Have you ever seen those little tags on merchandise at the store that beep when you walk through the door? Those are RFID tags! They work by using radio waves to communicate with a device called a reader. The tag has a small chip and an antenna that picks up the radio waves from the reader and sends back information stored in the chip.
RFID is used in a lot of different ways, like keeping track of inventory or making sure only authorized people can access certain areas of a building. It's even used in some payment systems, like when you tap your credit card on a machine to pay, pay for train or bus fare by waving your card over the terminal or simply accessing your office space using your key card. That's RFID at work!
There is no need for you to swipe or insert it into a terminal.
The RFID chip in your credit cards contains your digital information. This technology uses the electromagnetic field in order to identify your information once tapped into the system.
So, imagine being in a restaurant and you’re paying your bill, you don’t have to go to the cashier to enter your pin anymore. With the RFID, it’s just one tap away.
Think about automatic passport checking when you travel, or when you pay for your toll fee – those are RFID technology.
How can your Credit Card Information be stolen?
The RFID technology also comes with so much ease for thieves because they don't need a direct contact to obtain your information.
Criminals use a small device called a skimmer to steal credit card information when the card is in close proximity of the skimming device. The skimmer reads the magnetic stripe on the card and stores the information for later use.
These bad guys can be right next to you in a public place and use their skimming device to get your credit card number, its expiration date, and your CVV codes. Since RFID technology is using electromagnetic field, no physical touch is required. They have to be a meter away from you to get your information.
Once they have your credit card information, they can now use the card-magnetizing tool to transfer your data to a new card and start using it in seconds. You won’t even realize that your information is compromised until an issue pops up.
And once you have these issues, it would be quite stressful to resolve them.
What can Thieves do with your Credit Card Information?
Prepare yourself with the horrors that they can do. Once they have your credit card information, they’ll surely take advantage of it as much as they can.
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Make unauthorized purchases online
With online shopping becoming more and more convenient, thieves are using these to their advantage. Once a thief has your credit card information, they can use it to make purchases without your knowledge or permission. They can use the stolen information to make online purchases or create a fake credit card to use in stores. Especially once they acquire your billing zip code and the security code at the back of your card.
For them to acquire that information, these scammers have a systematic model of calling you and pretending to be a representative from your bank. Never share your security code over the telephone, your bank will never ask for it.
The next thing you’ll know, your following billing statement has skyrocketed. Imagine the horror.
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Sell your Information
In this digital world, information has become a valuable trade. They can sell your data from $5 to $100. The rate would depend on how valuable your credit card information is and how much information they can give about you.
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Create Clone Cards
These thieves can also make a clone of your credit card. They can program your credit card information on a gift card or a prepaid card and swipe it as if you used your actual credit card.
Legally, you are not liable to pay any unauthorized purchase, but this is something you have to dispute with the credit card company. We all know how stressful disputes can be.
4. Commit identity theft
Thieves can use your credit card information to steal your identity. They may use your Social Security number, date of birth, and other personal information to open accounts, apply for loans, or obtain government benefits in your name.
5. Drain your bank account:
In some cases, thieves can use your credit card information to access your bank account and withdraw funds or make unauthorized transactions. If you suspect that your credit card information has been stolen, it is important to take action immediately. Contact your bank or credit card company to report the theft, cancel your card, and monitor your credit report for any unauthorized activity. You may also want to consider placing a fraud alert or freezing your credit to prevent further damage.
Why do you need an RFID Wallet?
With all things considered above, having an RFID Wallet is a convenient way to spare yourself from all these problems. If you invest in health because you think that prevention is better than cure, then it’s the same thing with your wallet.
But you might be wondering, how does an RFID wallet work? RFID blocking wallets have a layer or wrapping made from carbon fiber or metal that blocks the magnetic field from accessing the RFID chips in your cards. It serves as a shield that blocks the skimmers from acquiring your credit card information.
The protective layer takes the electromagnetic waves of the skimmer’s RFID scanner and does not allow it to pass through it. This way, the skimmers cannot merely acquire your information just by standing next to you. You have to make sure that all your cards are inside your wallet.
Best RFID Wallets by Karakoram2
I guess we have stressed enough the importance of having another layer of protection for your valuables. Now, it’s time to give you our top picks of RFID Wallets that have passed through our meticulous eyes.
Karakoram2 wallets are loved by customers as they are RFID protected. Standing true on what it is named for, Karakoram2 wallets can stand through time with it’s tried and tested leather making, and the built-in RFID protection. And the best thing? It’s not even bulky.
Karakoram2 offers three unique men’s wallet designs:
(2) Smart Slide card holder wallet
(3) Slim line money clip wallet
All these wallets are slim and easy to carry. It also comes with a money-back guarantee and a solid two year warranty.
And their designs? They are superb. When you see them, you’ll know that they made their wallets with your comfort and convenience in mind. You’d see functionality and fashion merged into one sturdy piece.
Karakoram2 leather material is made, especially to be pocket-friendly. It’s very lightweight and is also equipped with an effective RFID blocking system. Put your mind at ease because their RFID protection is backed independent laboratory testing and approval.
With its quality, protection and style rolled into one, Karakoram2 Wallets are also a top pick in the market.
K2 Sublime Wallet
K2 Sublime wallet is made of full grain vegetable tanned leather and can hold up to 12 cards. Its design is also unique and one of a kind, with two unique pull tabs offering an easy access to your cards.
When you see it, you’ll have the impression that it can protect your belongings with its slim and robust physique. This wallet would be perfect for businessmen.
K2 SmartSlide Cardholder wallet
This K2 RFID Wallet is equipped with superior blocking qualities that are meant to keep your sensitive information safe and intact. If you’re more of a card person, then this wallet is perfect for you. It can stack up to 10 cards at the same time.
It’s also thinner compared to other RFID wallets in the market and has a money band to allow you to bring cash as well.
K2 Slim Line Wallet
Karakoram2 is an established brand. When you hear it, you know it stands for quality and refined products.
K2 Slimline wallet has a classic moneyclip design matched with the latest RFID blocking technology. It is minimalist and is easy to carry too.
Conclusion
As technology continues to evolve, thieves evolve along with them. From traditional pickpocketing to advanced skimming devices – these thieves have surely levelled up their game.
Some say you don’t need an RFID wallet because there are very few cases of RFID information being stolen, but are you willing to go through all the stress if you become one of the few?
If there’s a way to prevent all those stress from consuming you, then better take it. What are a few bucks compared to your peace of mind, right? Also, there’s no harm in protecting yourself. Protection is always a good investment, and peace of mind is priceless after all.
