LOS ANGELES (CBSLA.com) — A new app aims to allow users to have more control over their credit cards, including setting spending limits and locking the card when it is not in use.

For many people, no matter how careful they may be, a card could periodically go missing. Often times, when this occurs, the card is not deactivated quickly  enough to prevent potential thieves from using it.

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The new smartphone app, called Card Control, allows users to deactivate and reactivate their cards with the swipe of a button.

The San Jose start-up company Ondot, which developed the app, began working on the app when a company founder’s credit card was stolen.

“The idea was that ‘Why can’t I lock this card?’ ” Ondot’s Rachna Ahlawat asked. “Just the way I lock my home or my car, I should be able to lock my money.”

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Additionally, users can set geographical boundaries of where the card will work, as well as customize what types of stores the card can be used at.

“So, essentially, I’m able to take a general-purpose card and create a card which is based on my preference or my need, on where and when I shop,” Ahlawat said.

CBS2 spoke with a number of locals, and gathered their thoughts on using the app.

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“(With) the system we have now, we have to actively call every credit card company,” one woman noted.