I've got a chip on my shoulder...

For just about anything you want to get off your chest about credit cards.
augiedog
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Postby augiedog » Sat Sep 13, 2014 8:21 pm

I don't have any EMV cards in my wallet! Even my new Amex BCE doesn't have one. I just got a BoA debit card last week and it still had no chip.
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flan
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Postby flan » Sun Sep 14, 2014 6:38 am

dragon452 wrote:
CarefulBuilder14 wrote: It's more that I'm a little disappointed that no company has taken the approach of saying "chips will improve security for all our customers, not just the high spending, big limit, AF-paying ones, so let's make sure all of the cards we have out there get chips ASAP".

I agree with you completely on this. Although I just received my replacement Freedom Visa for Freedom Mastercard swap from Chase, and the new card has a chip on it, my other existing major cards have not been replaced with EMV cards as yet. Supposedly, the cutoff date of October 2015 will signify when all merchants will be required to have card readers to read the chips, as well as the magnetic stripes. Here's a hypothetical (for now) question: what happens if many merchants have a "chip only" reader, and your old stripe card is no good there? Shouldn't the banks make sure you get the latest technology NOW, ASAP, as opposed to waiting until the last minute? Let's not forget, the rest of the world has had this "new" technology for years now!


October '15 is the liability shift. After that date, if one party doesn't support EMV (that is, if the terminal doesn't do it, or the card doesn't have a chip) then that party is on the hook for card present fraud. It's going to be a long time before there are many card readers that don't take magnetic stripe cards. They'll show up at kiosks before they show up at manned terminals.

I'm rather surprised that banks aren't issuing all new cards with a chip. I don't know if they think the cost isn't worth it yet, or if there are supply problems.

trumpet-205
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Postby trumpet-205 » Sun Sep 14, 2014 5:46 pm

flan wrote: I'm rather surprised that banks aren't issuing all new cards with a chip. I don't know if they think the cost isn't worth it yet, or if there are supply problems.


We're not near the deadline yet, and some banks want to see more merchants adopt to EMV before issuing them.

So far BofA and Citi issue EMV card actively.
In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

flan
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Postby flan » Sun Sep 14, 2014 8:14 pm

trumpet-205 wrote:We're not near the deadline yet, and some banks want to see more merchants adopt to EMV before issuing them.

So far BofA and Citi issue EMV card actively.


We're a year away. The average lifespan of a credit card is rather more than a year. (It was just over three years five or six years ago. I don't know what it is these days, but it should be pretty close. ) The liability shift is oing to happen, so the banks have an incentive to issue cards with a chip.

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PlyrStar93
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Postby PlyrStar93 » Sun Sep 14, 2014 11:00 pm

trumpet-205 wrote:We're not near the deadline yet, and some banks want to see more merchants adopt to EMV before issuing them.

Just wondering how many merchants are actually adopting EMV now. In my place it seems like even if a credit card machine has slot for inserting chip cards, it actually does not work.

Once in a 7-11 I attempted to insert my Citi chip card and the cashier said "no no... swipe it".
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
All EMV.

rockyrock
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Postby rockyrock » Sun Sep 14, 2014 11:13 pm

PlyrStar93 wrote:Just wondering how many merchants are actually adopting EMV now. In my place it seems like even if a credit card machine has slot for inserting chip cards, it actually does not work.

Once in a 7-11 I attempted to insert my Citi chip card and the cashier said "no no... swipe it".


Walmart and Sam's force you to use a chip if you have one. I see a lot of slots wherever I go, I guess I'll start inserting instead of swiping and see what happens.
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rockyrock
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Postby rockyrock » Sun Sep 14, 2014 11:23 pm

CarefulBuilder14 wrote:I know I could call and request a card with a chip, at least for the Amexes, but international travel is still a few months away. More importantly, the EMV chip is like the cheapskate's Centurion - if you request an invitation, then you haven't really earned it.



Most chipped cards you will get won't help in Europe. My Chip and Sig cards were no good at any unmanned kiosks, vending machines and even some merchants got frustrated. They see the chip and expect you to have a PIN; when you don't key in a PIN they look at you like you are a dummy until you explain it's a Chip and Sig and they need to force a receipt for you to sign. Meanwhile ppl behind you are wondering what is taking so long...I eventually gave up and just started using a card without a chip so they knew to swipe.

Relief is coming eventually, I read somewhere--maybe here, that VISA is conceding that Chip & Sig was a bad idea and will be producing Chip & PIN cards soon. The others will follow suit . I have a feeling that is why Discover is waiting so long, they wanted to wait out the Sig v. PIN fight. Haha it's like blu-ray v. HD-DVD or VHS v. Betamax.

I have one PIN card and it's much easier than fiddling with a stylus or signing a receipt.

My experiences, YMMV.
American Express (2005): Green & Blue Cash Everyday
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Sep 15, 2014 12:00 am

rockyrock,

You could be right about Discover. Lots of machines in the US are having trouble processing chip cards properly, and Discover's acceptance is still low enough that most people will have another card. And if most of Discover's customers have at least two cards, maybe they figure people who want chip cards now will get a competitor's travel card, saving Discover the hassle of a technology with many wrinkles (within the US, I know the process is more polished in Europe).

As to the C+Sig vs. C+PIN dilemma, that is a factor in why I have Arrival+ on my shortlist.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May

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Xorand
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Postby Xorand » Mon Sep 15, 2014 9:18 am

I don't have any chipped cards in my wallet, but my wife does. Earlier this year, my AmEx BCP was compromised and AmEx cancelled it and said they would send me a new card. My wife is an AU on the account and has her own card with its own number. The person on the phone said she could continue to use her card as it wasn't affected and they'd just be sending me a new card with a new number. When we got the envelope in the mail, it actually had two cards - one for each of us. We just shrugged, activated both new cards and destroyed her old one.

We didn't really notice anything until recently when my wife said she used her first chip terminal that day. We compared cards and hers had a chip and mine didn't. In addition, hers had an expiration date a year later than mine. Interesting.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

takeshi
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Postby takeshi » Mon Sep 15, 2014 9:46 am

CarefulBuilder14 wrote:More importantly, the EMV chip is like the cheapskate's Centurion - if you request an invitation, then you haven't really earned it.

Make no sense to me. EMV isn't earned nor is it analogous to the Centurion. It's just being rolled out and whether one received EMV or not has nothing to do with one's qualifications, spend, etc.



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