Chip Credit Cards

[Hardspoon]

I've tried to use my chip card at several places and had problems - the cashiers would tell me things like, "Yeah, the chip reader doesn't work a lot of the time...you need to swipe it."

At the very least, the liability could make sure that retailers are incentivized to figure things like this out and get the tech working.

[Yukari]

It should be noted that chip reader cc transaction seems to take much longer than simply swiping the card on the reader.

It's a bit of a hassle.

[imsys0042]

The chip is mainly there to prevent fraud at physical locations, but it doesn't do anything for online shopping.   I think a better way for online is a company that offers a card with a one-time, unique number that is sent so if it's intercepted the number cannot be reused.

There are companies that offer that.

[jamo]

It should be noted that chip reader cc transaction seems to take much longer than simply swiping the card on the reader.

It's a bit of a hassle.

I don't mind the extra few seconds, but I just wish they'd tell you that you HAVE to use the chip before you swipe and look like a moron.

They shouldn't say "swipe or insert card," they should say "swipe or insert card if applicable" or something like that. The way it's worded makes it seem like you have a choice when you don't.

[Kenny Lee]

The new chip cards are a non issue to consumers. They have ZERO effect on our personal liability.

It's either the retailer, or the card issuer that is liable for for fraudulent charges, depending on whether they issue chip cards (bank), or accept chip cards (retailer).

Again, this means NOTHING to us as consumers. Unless, of course, you are using a debit card. If you are, you should stop immediately.

 

[Pendragon]

I have four credit cards that I use regularly.

 

Only one has a chip.

 

Generally, i'm not concerned about fraud. I review my statements closely. If there are any charges that aren't mine, I simply call the credit card company, and they are promptly removed.

 

Debit cards do not have the same consumer protections. I'd never use a debit card.

I use a debit card all the time and have no problems. On two occasions my card was compromised, and I immediately got a call from my credit union. I was not responsible for any of the charges that were made by the bad guys. The biggest problem was that it took a week for the credit union to issue a new card.