STORM2K

By BYRON HARRIS / WFAA ABC 8

A single swipe of a stolen credit card can create an avalanche of problems for the card's real owner. Charges mount up without the owner knowing about them, and cardholders are left to clean up their credit history—and their lives.

A system called Credit Wall is designed to prevent ID theft.

Credit Wall notifies cardholders on their cell phone, computer or PDA when a charge is made to their account. If the cardholder doesn't punch in a personal identification number, the transaction doesn't go through.

The idea came from former Dallas inventor A.Z. Ramos. "You are in control—nobody else," he said. "Every time somebody swipes the card, you're going to be able to say 'yes' or 'no.' You're going to be able to say 'approve' or 'disapprove.'"

Credit Wall can be set to contact the cardholder if any number of rules are broken. For example:

• If the card is used outside of Texas
• If charges above a few hundred dollars are attempted
• If certain types of merchandise are purchased

"The transaction is only completed when the correct PIN is entered," Ramos explained.

The system also will have a "lost wallet" function. Here's how it works: If you report that your your wallet and its contents have been misplaced, Credit Wall will contact you every time a transaction is attempted using any of your cards.

An advanced version of the stystem will let you know whenever someone tries to establish an account in your name.

Banks will probably sell the service, or they may give it away to their best customers.

Early versions of Credit Wall will be ready for use next month.


WFAA ABC 8
Credit Wall sends a message to your cell phone when your card is being used.

What a great idea.....our daughter lost her debit card two weeks ago. Luckily before withdrawals could be made from her checking acct. Not quite the same thing but losing your credit card(s) can be very frightening. In our case, we own only one, intentionally. The way we want it. My soon to be Sister-in-law, divorcing my husband's brother, had 24 credit cards in her name! She fell for every one offered to her. Can't even imagine what it would take to cancel 24 if your wallet was stolen. I saw them all once, but thought she had about a dozen, she must have had them two to a slot in her very large wallet. Mine on the other hand is small.....again, intentionally.

Mary

Think it is a great idea if you have a cell phone but otherwise, how will you be able to approve purchases you want to make youself?

Just after one of our storms last year my Bank of America Card would not go through. Said account was locked when it was swiped. When I checked found they had locked it because they noticed two purchases for gas at the same station at the same time in an area that was never on my card before. It was all good so they removed the lock while I was on the phone. Found it very comforting.