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Secret Service Warns of Chip Card Scheme

Senior Contributor

Secret Service Warns of Chip Card Scheme

Even more of a reason to use your credit card instead of debit.
https://krebsonsecurity.com/2018/04/secret-service-warns-of-chip-card-scheme/
FICO 8 Scores EQ=776 TU=783 EX=777 (INQ) EQ=12 TU=11 EX=11
TCL=$600K+ / AAOA= 2.9 yrs / Oldest account = 10.9 yrs
Message 1 of 6
5 REPLIES
Frequent Contributor

Re: Secret Service Warns of Chip Card Scheme

Wait a tic, I thought this new "chip" technology was supposed to be "more" secure than the old mag strip? lol

"Added" security my butt... 

 

Scary to say the least, knowing this. Since it has ntohing to dow ith usage and skimmers etc.

 

Message 2 of 6
Super Contributor

Re: Secret Service Warns of Chip Card Scheme

Gmood1 ... nice catch! Thanks for the not so good news ... Smiley Mad

Starting Score: 829 Fico TU08
Current Score: 835 Fico TU08
Goal Score: 850


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Message 3 of 6
Established Contributor

Re: Secret Service Warns of Chip Card Scheme

Good info Gmood.

Life was a lot simpler when what we honored was father and mother, rather than all major credit cards. ~Robert Orben

SCORES: Excellent, USAGE: Minimal, AAOA: Lengthy, INCOME: Sufficient, UTIL: 1-2%, PYMTS: 100% Positive/Always PIF
Message 4 of 6
Established Member

Re: Secret Service Warns of Chip Card Scheme

Interesting.  Inspect your new cards when they arrive for signs of tampering around the chip.


Yes, just one card - by design.
May 2018 Score: 805 (FICO 9 - Experian)
Message 5 of 6
Established Contributor

Re: Secret Service Warns of Chip Card Scheme

I'm trying to figure out why a large corporation would be using a debit card anyway?  Debit card transaction amounts are limited, for one thing.   Also, best practices in accounting are to never give anyone access to a payment account... ever.   There's no other reason to have a debit card.

 

 

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Message 6 of 6