Abstract: A device for information storage and retrieval. A card containing electromagnetic information, such as a credit card, an access card or security card is biased to be initially in an inactive state. The card can be activated only using a holding apparatus, and then only for a predetermined number of uses, after which the card becomes inactivated again. The holding apparatus includes a communication device for communicating to a remote location such as a credit company and acts as a mobile telephone. The holding apparatus also enables loading and altering all of the information on the card. Further, a method for determining if a transaction is allowed is described. Two security code lists are maintained, one list in a holding apparatus and one list at the remote location where the determination occurs. A security code is transferred to the card by the holding apparatus.