Someone needs to invent a locator chip for credit cards. It would be a money maker?

Question

Everyone would have to have one. Lost your wallet, or it got stolen, call your credit card agency, they have a location in minutes. Just had my wallet ripped off and sure wish there was such a thing

Answer 1

yeah, if you want to go confront the robber... I like the idea, but maybe the police should go get the wallet for you.

I say there should be trackers on every thing you buy with a place where you can store all your items and their IDs. This way if you ever lose it, you can go locate it. It would really help with insurance claims as well in case of loss.

Answer 2

Sounds like a good idea. However, the cost may not justify the means. Criminals will soon learn how to erase the chip or they would use it briefly and throw it away. If they record the numbers, they can throw the card away and use the information via mail order/internet. Some years ago, pictures of the card owner were put on the card and it did not help. You are supposed to sign the card and the vendor is to verify your receipt signature with the card signature. How many times have you had your signature checked? Vendors just do not care.

Great idea. Keep thinking. Personally, if it deters or limits theft in any way, I am for it.

Answer 3

They already have invented it... They are called RFID tags, and some credit cards have a version of RFID tags built-in. The MasterCard PayPass is one version. They are passive, and you would need a special interrogator with a "long" range to find a particular (stolen) card.

RFID tags also come in "active" versions that transmit their own information w/o external readers providing power. The Credit cards would have to come up with a new thin battery for this to work.

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Answer 4

Wallet LoJack?

Interesting idea...would probably cost more than it's worth, though. You could approximate it by putting a small homing device in your wallet.

Answer 5

it would b a money maker and help stop identity theft