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@Marcos8 wrote:Do chip cards still have a magnetic strip? Is there any difference in using a chip card on the web for purchases?
The chip cards have a magnetic strip for backward compatability. However you cannot use the strip in an EMV-enabled reader, it will tell you to insert the card.
No difference on the web, things like Verified By Visa apply to both chipped and non-chipped cards.
I received a new Better Balance Rewards card from BofA several months ago, and it did not come with a chip. This is fortunate because the chip is how I tell my Cash Rewards and my Travel Rewards apart at quick glance.
Soon everyone will begin to implement chips on their cards, my Amex cards (SPG and Costco TE) didn't come with them so I sent them a message requesting cards with the chips and they sent them to me. I think cards look better with them, and it's definitely more safe to use when processed that way
@JKXX wrote:
Got a chip on my cash rewards as well when I got the siggy upgrade two months ago.
My Travel Rewards is now over $5k, did you request yours to be upgraded or did they do it automatically? If so, was it a HP, thanks in advance
@Marcos8 wrote:Do chip cards still have a magnetic strip? Is there any difference in using a chip card on the web for purchases?
No magnatic strips on Chip cards
what's the point of these chips?
@longtimelurker wrote:
@bk510 wrote:
@Marcos8 wrote:Do chip cards still have a magnetic strip? Is there any difference in using a chip card on the web for purchases?
No magnatic strips on Chip cards
? That is just not true!
Definitely NOT true. All CCs have a magnetic strip
@paulko85 wrote:what's the point of these chips?
Extra security, eventually I'm assuming all cards will have them. Used all over the world to prevent fraud, the US is a little late in implementing them. Targets new cards are going to have them to try and prevent the fiasco they had recently where alot of people's info was stolen.
@One7 wrote:
@paulko85 wrote:what's the point of these chips?
Extra security, eventually I'm assuming all cards will have them. Used all over the world to prevent fraud, the US is a little late in implementing them. Targets new cards are going to have them to try and prevent the fiasco they had recently where alot of people's info was stolen.
Yep. Think of ATM cards. The current no chip&pin situation here is similar to ATM cards having no PIN, you just put the card in (or a copy of the card) and scrawl something that isn't checked, and the ATM gives out the money. But until recently, the individual losses haven't been enough for a big push to EMV.
ETA: And the current PIN technology on ATM cards is also weak. EMV makes it much harder to copy the card