Credit cards that use RFID signals to conduct transactions could put consumers at risk for identity theft and credit card fraud, Sen. Charles Schumer, D-NY said in a press conference Sunday.

Schumer said thieves can use radio frequency readers to steal the credit card information.

"All you need to be is within a couple of feet of the customer," Schumer said. "You may as well put your credit card information on a big sign on your back."

Don't worry, a thief would actually have to have a reader nearly touching your credit card to steal it. This is completely impossible, which is why no one has been able to invent pickpocketing. — BEN POPKEN

Consumers warned about no-swipe credit cards [AP]

Previously:
No-Swipe Credit Card No Problem For Thieves
Foil RFID Thieves. Literally.
Long-Distance RFID Snagging Possible, Already Done