- Centurion Member
- Posts: 410
- Joined: Wed Jun 04, 2014 1:06 pm
- Location: Chicago
It wouldn't be way TOO hard for me to manage 4-digit PINs if they carry out Chip+PIN I guess. Back in my home country, bank cards are always equipped with PINs of 6 digits. Even if I use my Visa or Discover cards there (without PIN), the terminal would still prompt me to enter PIN (which I can press OK directly without entering). In the restaurant occasion, the service person just hands in the terminal if I decide to pay with card.
When I got my first American card, I got used to signatures. Just felt like no one would be in close proximity when I enter passwords, as I tend to feel uncomfortable if anyone looks at me to enter sensitive information. Felt like PIN was not necessary as if I lose my card I'll just report it as lost so my bank can suspend it.
I have seen several articles saying a PIN was not as safe, when in my home country. They claimed that if the bank saw a transaction went through by PIN, then it would be impossible to get the money back if fraud/lost card/etc. happened, so it suggested cancelling PIN and just use signature. They also claimed the majority of the world use signature.
Later on, I learned Chip+PIN was widely used in Europe so I began rethinking the question. But anyways, that would be the first time ever in America when I have to enter PIN for a purchase here if they roll out Chip+PIN. Chip+Signature would be fast in some cases, like when signature was not required - the transaction would only incur an insertion. Some supermarkets/stores require signatures no matter how small the transaction is, so that would make me dumb. In that case PIN might be faster than signature, but hopefully it's not Chip+PIN+Signature case (PIN and signature sometimes are both required in my home country, but I don't expect that to happen here).
But as far as memorizing, I have to see how it goes since that's something I have always been doing in the past, and just like now I remember my card numbers and CVVs. And I would expect they allow changing PINs online and/or over the phone. I know that I can change cash advance PINs by phone at least for Chase/AMEX and online at least for Discover. Then put the card in any ATM and it can recognize the new PIN (I never get cash advances, only do inquiries). For purchase PINs I would expect the similar. Haven't looked into the online/offline POS issue, though.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015