Chipped Credit/Debit cards: are they really more secure than old style swipe cards?

[Speedy]

richorlin wrote:
Yes, chip & PIN is the most secure. However, the majority of credit card providers are only using chip without PIN, which is not as secure. You can ask your credit card servicer to allow you to set up a PIN for your card. This is most important if you are using your card in Europe as most service providers in Europe require a PIN.

I believe this PIN requirement in Europe is only for debit cards. When we were there last year we were often asked to enter our PIN and when I said we didn't have one, the response was "Oh, it's a credit card."

[RAMd®d]

I think the problem being addressed with the chip is duplicating a physical card with someone else's numbers. Easy for a counterfeiter to program a magnetic strip, harder to program a chip.

It does nothing for online fraud. Apparently in-person retail fraud is still the bigger fish?

Seems to me a PIN would help with the online part, but even that is just another piece of information that can be stolen in a breech.

This.

All of this.


I'd chip and pin be the standard for POS use when Apple Pay or one's TnP of choice is not available. One bank's card had a one-time card number. That would be a big help, too.

I don't have to use a PIN when I use my debt or credit card, but I do have to use one with Apple Pay (except at McDonald's and El Pollo Loco). If I recall correctly, there was one place that didn't require a PIN with Apple Pay, but did require a signature. I don't remember the dollar amount.

I'm OK with AP and PIN, but I'd be OKer without it.

[Filliam H. Muffman]

My understanding is that Chip and Pin is already hacked but it takes a lot of fast work to make it really pay off.

What happens when someone pickpockets your phone (and you don't notice) right after you pay with it?

[dk62]

In Europe, Pin is used for credit cards as well, but most places can handle signature instead (although they are not really used to this). The exception are some ticket selling machines at train stations, where they require PIN with credit cards and will frequently not take debit cards. In US, some issuers provide PIN and some do not even when requested. Also, for some reason, chip readers are slower in US than in Europe.

Regarding letting banks know when you travel, I told my issuers that I travel too frequently to bother and that I will cancel the card the moment they turn down a transaction because I am abroad. No problems since. Also note that they are protecting themselves and not you, regardless of what they say. You are not responsible for fraudulent charge on a credit card.

[Bill in NC]

There's no true "chip with PIN required" credit card issued here in the U.S.

So if your credit card is stolen, yes, it can be used until you cancel it.

[Fritz]

I don't think anything is truly secure ........ but it does give me a warm and squishy feeling inside.

[NewtonMP2100]

....so do you swipe right.....or swipe left......??

[space-time]

NewtonMP2100 wrote:
....so do you swipe right.....or swipe left......??

I swipe up and down. At the urinal.

[TheCaber]

:barf:

[NewtonMP2100]

....to completion.....??

....blech.........!!