Safe to keep credit card numbers using "Wallet" feature in Mobile phone?

I'm just curious, is there any possible flaws that may allow the credit card information in the "Wallet" feature of my Nokia phone to be transmitted or cracked into, in anyway?

 

While I can't comment on your question, I would add to your concerns -- securely erasing data on cell phones is difficult - which would be vulnerable when you discard you old unit. From text messages, to phones numbers, to even your password protected wallet. While data extraction maybe remote it's possible.

 

That's an interesting concern you provided dog, I'm am scared very scared, after reading that Schneier website post.

http://www.schneier.com/blog/archives/2006/09/recovering_data.html

 

Here the extended article:

CNN


About erasing Cell Phone data, i found this for you:

Cell Phone Data Eraser

Now you can sell, donate or recycle your old cell phone worry free! The Cell Phone Data Eraser gives you all the tools you need to remove personal information like contact names and phone numbers from your cell phone.

WirelessRecycling.com