So I guess anyone can just use anyone else's credit card...

[Xonim]

Chip and pin would be great if it were actually going to be fully implemented and not the half-assed version we're getting.

I have yet to encounter a working chip terminal. I've seen a few but have never successfully processed via chip.

Viper GTS

Agree. Chip & signature is just a waste of time/money in my opinion.

All the Home Depots and Walmarts around here have the chip terminals active now. If you swipe a chipped card, it won't process, but rather tells you to insert the chip. Home Depots are no big deal, but the Walmart terminals are mounted poorly so it's difficult to get the cards in. Targets around here have new terminals installed, but the chip slots aren't yet active =/

 

[Newell Steamer]

in the US chip & pin basically does not exist

ATOT gave you the answer - what more do you want?

 

[vshah]

You just stick in the tip and leave it there until it finishes.

no more swiping back and forth until it works?

 

[NikolaeVarius]

With the new chip readers does it go in all the way or do you pull out quickly? And is the experience satisfactory?

I'd be somewhat afraid of sticking it in whole and it never spits it back out.

Every single one I've been to, you only stick the third of the card with the chip in. Rest of the card stays outside the machine.

 

[poofyhairguy]

I prefer the pin over the chip. That is why I use my debit card.

 

[Anubis]

And at half those retailers the new readers are mounted in such a way that the chip reader slot is inaccessible so your only option is to swipe.

this and or its not enabeled yet

the only one ive been to that has them turned on is home depot and TBH I didn't even have to use the pin then I swiped and it worked

 

[Brainonska511]

I prefer the pin over the chip. That is why I use my debit card.

I prefer the protection a credit card offers over a debit card. If the former gets compromised, it's the bank's money and there are more legal protections for me. If the latter gets compromised, the legal protections are substantially less and I could be out of my money while the problem gets resolved.

 

[WelshBloke]

The thing is the business/cc company is liable - not you.

Well it is unless you're doing something daft with your card... like everyone in this thread.

 

[poofyhairguy]

I prefer the protection a credit card offers over a debit card. If the former gets compromised, it's the bank's money and there are more legal protections for me. If the latter gets compromised, the legal protections are substantially less and I could be out of my money while the problem gets resolved.

1. I don't have a lot in checking

2. If my debit card info gets revealed in some huge retailer hack I don't have to change everything

 

[jlee]

If a business actually cared, they could deny you the use of the card until you showed ID and signed the card. The signature part is a contract indicating you agree to pay for the charges you make.

A merchant can't make ID a requirement to process the transaction, but the card should be signed per Visa's policy:


http://usa.visa.com/download/merchants/card-acceptance-guidelines-for-visa-merchants.pdf

While checking card security features, you should also make sure that the card
is signed. An unsigned card is considered invalid and should not be accepted. If
a customer gives you an unsigned card, the following steps must be taken:
• Check the cardholder’s ID. Ask the cardholder for some form of official
government identification, such as a driver’s license or passport. Where
permissible by law, the ID serial number and expiration date should be
written on the sales receipt before you complete the transaction.
• Ask the customer to sign the card. The card should be signed within your
full view, and the signature checked against the customer’s signature on the
ID. A refusal to sign means the card is still invalid and cannot be accepted.
Ask the customer for a different signed Visa card.
• Compare the signature on the card to the signature on the ID.

When should you ask a cardholder for an official government ID? Although Visa
rules do not preclude merchants from asking for cardholder ID except in the
specific circumstances discussed in this guide, merchants cannot make an ID
a condition of acceptance. Therefore, merchants cannot as part of their regular
card acceptance procedures refuse to complete a purchase transaction because
a cardholder refuses to provide ID. It is important that merchants understand
that the requesting of a cardholder ID does not change the merchant’s liability
for chargebacks. However, it can slow down a sale and annoy the customer. In
some cases, it may even deter the use of the Visa card and result in the loss of
a potential sale. Visa believes merchants should not ask for ID as part of their
regular card acceptance procedures.

 

[CraKaJaX]

If a business actually cared, they could deny you the use of the card until you showed ID and signed the card. The signature part is a contract indicating you agree to pay for the charges you make.

I (thought) the signature on the receipt is for the agreement on the charges. The charge will be pending on your account until it is cleared with any additional charges on that receipt (ie, tip).The signature on the back of your CC is required by the card issuer and has nothing to do with the pending transaction. If you leave the back of the card blank or write something like "SEE ID" it doesn't matter since 99.99% of store clerks will accept the card regardless.

 

[spliffstar69]

Once the back of the card is signed retailer is not required to ask for ID.. So either do not sign your card or mark it as CID ..check MasterCard,visa ,amex ,discover network agreements.

 

[dank69]

I prefer the protection a credit card offers over a debit card. If the former gets compromised, it's the bank's money and there are more legal protections for me. If the latter gets compromised, the legal protections are substantially less and I could be out of my money while the problem gets resolved.

I also prefer the cashback rewards.

 

[CraKaJaX]

1. I don't have a lot in checking

2. If my debit card info gets revealed in some huge retailer hack I don't have to change everything

If you don't have a lot in checking, how are you paying off other accounts? :hmm:

 

[Brainonska511]

I (thought) the signature on the receipt is for the agreement on the charges. The signature on the back of your CC is required by the card issuer and has nothing to do with the pending transaction. If you leave the back of the card blank or write something like "SEE ID" it doesn't matter since 99.99% of store clerks will accept the card regardless.

It's agreeing to the terms and conditions set out by the credit card company. It has nothing to do with the merchant. And honestly, it's a fairly pointless exercise to write "See ID". If someone steals your card, you'll report it. And if they use before you report it stolen, there are still plenty of places it can be used without a clerk ever handling the card.

http://www.creditcards.com/credit-card-news/sign-or-write-see-ID-1282.php

 

[Brainonska511]

A merchant can't make ID a requirement to process the transaction, but the card should be signed per Visa's policy:


http://usa.visa.com/download/merchants/card-acceptance-guidelines-for-visa-merchants.pdf

Yeah. It's well known that they can't demand ID in the event you're using a signed card, but if the card is unsigned, they can demand to see ID and have you sign the card in order to use it.

 

[nickbits]

If you don't have a lot in checking, how are you paying off other accounts? :hmm:

Transfer from savings as needed.

 

[poofyhairguy]

Transfer from savings as needed.

Exactly. It is easy to budget well enough I don't go over any transfer limit. That is worth it to me if it means I don't have to care about the next Target-level breach.

 

[rh71]

Are the chips on the CCs waterproof? I leave my CC in my swim trunk pocket for the pool, beach, etc. so I don't have to bring my whole wallet. I know the black strips aren't affected.

 

[Red Squirrel]

Chip won't really fix this. Though it is odd that the US has not moved to that yet. It's been around for decades. I've lent out or borrowed chip cards to/from parents with no issue.

 

[OutHouse]

Chip is basically here. Debit cards have been PIN for awhile and my new one that I'm expecting any day now will also have the chip. Dunno if CC will be going PIN anytime soon though.

I live on my debit card use it for most things. but ive never understood whats the point of having to enter my PIN when im given two options, run as credit or run as debit...

 

[Matthiasa]

While my debit card does have a pin, certian retailers don't need to have it entered which sort of defeats the purpose of it.

 

[Naeeldar]

While my debit card does have a pin, certian retailers don't need to have it entered which sort of defeats the purpose of it.

That's because they are running it as a credit card.

 

[TwiceOver]

I live on my debit card use it for most things. but ive never understood whats the point of having to enter my PIN when im given two options, run as credit or run as debit...

Credit gives you the protections of a credit card. A debit transaction is the same as you taking the money out of an ATM and giving it to the retailer providing you no protections from the issuing credit card company.

Also above someone says the debit card doesn't provide the same protections. While it doesn't provide the same monetary protections in that the money is "gone" for a period of time, the actual fraud protection is exactly the same as a credit card bearing the same name.

 

[Matthiasa]

That's because they are running it as a credit card.

Yes but that is not what is selected and again defeats the purpose of it.
They will at least ask for a pin if the amount spent is over a certian value.