Chip and Signature Cards

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
trumpet-205
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Postby trumpet-205 » Sun Aug 10, 2014 2:22 pm

cashinout wrote:I thought it was law now that all banks had to update their cards with the chips by Sept 2014 or end of Sept. At least thats what CITI told me when i called. but who knows they might have until next year to do it but its the way that banks are moving.


It is not a law, and you got the date wrong.

It is called liability shift and it happens on Oct 2015. Starting at 10/2015, when a credit card fraud occurs the one that doesn't support EMV is the one that is liable for the fraud amount. So if a card issuer didn't issue you a chip card, they are responsible for the fraud. Or if a merchant process the transaction as swipe, they will be hold accountable to it.

The only exception to this liability shift is gas pump, where their liability shift happen on Oct 2017.

Issuers and merchants can still refuse to adopt EMV after liability shift, but they are taking a risk of becoming liable to credit card fraud.

In theory, most card issuers and major retailers should adopt EMV by then, as fraud is a big cost of them.
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Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
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brettbennett
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Postby brettbennett » Mon Aug 11, 2014 12:48 am

augiedog wrote:I added an authorized user for my Blue Cash Everyday last week and he did not get a chip card. Which card do you have? Maybe our cards will be replaced next month.

I have the Gold Card
TransUnion - 814
Equifax - 825
Experian - 850

Drash
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chip card

Postby Drash » Sun Aug 17, 2014 11:45 am

brettbennett wrote:I talked to an Amex Representative today about the new chip cards since one of my authorized users got one with a chip and I didn't get one, because my card is older and her's just came in today. She said that all American Express cards will be replaced by September, but I could get one ordered today. The only places I've seen around where I live (US) that have there EMV card reader are Walmart and Subway. :)

I just got upgaded from gold to premier gold ,member since2012 and my new card came with a chip.You can call them and ask they are there to keep you informed.

luvbullmarkets
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Postby luvbullmarkets » Fri Aug 22, 2014 2:04 pm

I shall be downgrading to the Green card soon. Will see if I get the chip card automatically.
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onion
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Postby onion » Fri Aug 22, 2014 2:08 pm

Got my Platinum this week, came as chip and signature.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

popamode72
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Postby popamode72 » Fri Aug 22, 2014 7:07 pm

All my Amex cards are now chip and signature. I requested a replacement Delta card and it came in the mail recently with the chip.
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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Aug 23, 2014 5:00 pm

It definitely seems the case that among no-AF or low-AF cards, those with FTFs get chips faster than those that waive FTFs.

Do all these chipped cards have magnetic strips as a backup way to pay? Or do some C+P/C+S cards now have no magnetic strip at all (in the USA, at least)?
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
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DoingHomework
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Postby DoingHomework » Sun Aug 24, 2014 3:00 am

Folks, don't get too excited about getting a chip card. AMEX sent me one in May. What a pain in the a$$. The only place that really uses the chip is Walmart. The card fails in about 1/3 of the machines in my local store. All the clerks know this. When everything goes well it takes about 3 times as long to authorize as a swipe so everyone behind you starts getting annoyed.

I got this card because I travel in Europe. I understand the benefit. But until they can make these things work much faster, it is far from something you should be hoping for.

DoingHomework
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Postby DoingHomework » Sun Aug 24, 2014 3:02 am

CarefulBuilder14 wrote:It definitely seems the case that among no-AF or low-AF cards, those with FTFs get chips faster than those that waive FTFs.

Do all these chipped cards have magnetic strips as a backup way to pay? Or do some C+P/C+S cards now have no magnetic strip at all (in the USA, at least)?


The have strips as well. But in my experience the machines that have card readers do not accept swipes from cards with chips. At Walmart for example I cannot swipe my AMEX card but can swipe my other cards. But I can swipe my amex other places.

popamode72
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Postby popamode72 » Sun Aug 24, 2014 10:23 am

DoingHomework wrote:Folks, don't get too excited about getting a chip card. AMEX sent me one in May. What a pain in the a$$. The only place that really uses the chip is Walmart. The card fails in about 1/3 of the machines in my local store. All the clerks know this. When everything goes well it takes about 3 times as long to authorize as a swipe so everyone behind you starts getting annoyed.

I got this card because I travel in Europe. I understand the benefit. But until they can make these things work much faster, it is far from something you should be hoping for.


It took me forever to figure that out the two times I've recently shopped at Wal-Mart. I kept trying to swipe my EveryDay card and it didn't work and some person working there showed me that you have to push the card into this slot at the bottom and go from there.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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