So what was the point of getting credit cards with chips in them?

hidesertwheelin

hidesertwheelin

Adventurist
Card number was just stolen for the 4th time since I got this stupid chip equipped card in September. Tried to charge over $1700.
 
I hate the stupid chip cards. Another reason for me to use cash money ;)
 
Dave said:
I hate the stupid chip cards. Another reason for me to use cash money ;)
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We only use the credit card to get airline miles so we can fly for free on family vacations. We pay it of every month and don't carry a balance. But even this is becoming a pain in the butt.
 
Today, if an in-store transaction is conducted using a counterfeit, stolen or otherwise compromised card, consumer losses from that transaction fall back on the payment processor or issuing bank, depending on the card's terms and conditions.

Following an Oct. 1, 2015 deadline created by major U.S. credit card issuers MasterCard, Visa, Discover and American Express, the liability for card-present fraud shifted to whichever party is the least EMV-compliant in a fraudulent transaction.

Consider the example of a financial institution that issues a chip card used at a merchant that has not changed its system to accept chip technology. This allows a counterfeit card to be successfully used.

"The cost of the fraud will fall back on the merchant," Ferenczi says.

The change is intended to help bring the entire payment industry on board with EMV by encouraging compliance to avoid liability costs.

Today, any parties not EMV-ready could face much higher costs in the event of a large data breach.

Read more: http://www.creditcards.com/credit-card-news/emv-faq-chip-cards-answers-1264.php#ixzz45ltBwb4Q
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It's so you have to wait longer in line, and longer at the register to make your transaction. I pushed it as long as I could... They can still fraudulently make their purchases as the CC# still works online. So dumb.


Wait no, it's so they can track wherever you are in the world. Those chips have GPS in them too. Burn and get rid of them. :tinfoil
 
My personal card has made the switch to the chip and I absolutely LOVE it. It makes transactions at retailers take twice as long, I have to ask most retailers if they're using the chip system or not which takes additional time and at several locations the chip system has malfunctioned. All of this has me shying away from using it which is saving me tons of money! ;)

My business card sees about $10k a month in use and luckily hasn't changed over yet...but it expires in August so my time is coming. I guess that will just mean less expense reports for me since it makes it such a pain in the ass to use.

This is just a stepping stone to biometric chip implants and a one world government. [Tinfoil hat tightens]
 
I've used EMV in Europe and Canada years ago with no problems... if in a restaurant the transaction was conducted at the table with a handheld device so the card never left your sight. Since EMV has deployed in the US, nearly a decade after the rest of the planet, I've not encountered any problems. Some businesses are fully functional and others are catching up, but for those who have deployed it there is no noticeable increase in time to conduct a transaction compare to swiping the card that I can tell, but I don't carry a stopwatch either.

Maybe I'm missing something here... I mean, I'd love to bitch about it, but I'm not encountering any difficulties. o_O

First world problem? The good news is this thread makes me feel good - compared to some of the observations posted earlier I'm less of a cranky old curmudgeon than I thought! :D
 
Why does it take so long to process payment using the chip? I know it's only an extra minute but waiting for it to read takes so long.....

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odomandr said:
Why does it take so long to process payment using the chip? I know it's only an extra minute but waiting for it to read takes so long.....

Sent from my SM-N910T using Tapatalk
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I dunno... it doesn't seem too terribly inconvenient, but then again I'm an old timer, I'll just spend the time boring the clerk with amazing stories from my youth or show them pictures of the kids.

Back in the late 1900's when I was in the First Gulf War I remember waiting as long as 4 hours in line just to get on the liberty boat. Back then... D'oh - see what you started!
 
Gallowbraid said:
My personal card has made the switch to the chip and I absolutely LOVE it. It makes transactions at retailers take twice as long, I have to ask most retailers if they're using the chip system or not which takes additional time and at several locations the chip system has malfunctioned. All of this has me shying away from using it which is saving me tons of money! ;)

My business card sees about $10k a month in use and luckily hasn't changed over yet...but it expires in August so my time is coming. I guess that will just mean less expense reports for me since it makes it such a pain in the ass to use.

This is just a stepping stone to biometric chip implants and a one world government. [Tinfoil hat tightens]
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I couldn't agree more.. I'm going to go put on my tin foil.

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I had the same MasterCard from my 16th birthday until about three months ago, when they "upgraded" it to a secure chipped Visa. Same number for 20 years, the only thing that ever changed was the expiration and three-on-the-back. I still have the number memorized. In all that time I never ever had a single problem, despite probably hundreds of shady swipe-and-fuel stops on the road.

The very first time I used the new secure chipped Visa the number was stolen. :rolleyes:
 
My wallet does have RFID protection built in, but that won't stop hackers taking it from a website (what happened to me).
 
Heads up on RFID, most cards don't have. Remember when you could wave your card over the credit card reader and it would magically get the info without swiping? That's RFID. Same thing as many offices use for their key cards. If your card doesn't do it, than you don't actually need any RFID protection.
 
Dave said:
I hate the stupid chip cards. Another reason for me to use cash money ;)
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One reason I dislike the chip is it really does seem slower and IMHO it creates a risk of walking off without your card. YMMV but I've noticed how the plugging in and waiting for it to process slows up a line.

Then again, I see that when I use cash. Some cashiers seem confused by cash :lol
 
I have yet to experience these new fangled machines in backwoods Presskitt...it's still swipe-and-go here.
 
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