An apparatus and methods securely activate a credit or debit card for a single purchase, a predetermined amount of time, or a predetermined amount of purchases in a predetermined amount of time, while utilizing a portable phone, especially a cell phone, having a card reader. Only transactions using the electronic telephone number and electronic serial number of the cell phone being used, along with preselected information identifying the owner of a swiped card will be authorized to perform credit and debit card transactions, thus providing secured transactions. Current card magnetic strips and possibly magnetic or other type of strips that are smaller in size and closer to the edge of the credit or debit card are serviced.