1. Alan Ganger says

    We have 2 U.S.-issued credit cards to use in our household, and both now been issued with the chip & PIN technology. It was curious to me that no PIN information was provided separately like with ATM cards. So I went looking for information on either finding the default PIN, or how to set a PIN for these cards. Online within the issuer’s FAQ page, it was addressed and confirmed the cards were issued with the chip technology used in Europe, but that no PIN was necessary to use it. It cheerily indicated that when prompted at a retailer to enter the PIN to complete the transaction, just say “No PIN is needed”. So no default PIN is set for our cards, and no way to set a PIN. Wondering if this is the standard implementation of this technology for U.S. issuers, or if it is unique to ours (B of A VISA cards).

    • Liz Weston says

      Yes, that’s the slow roll-out, which I think is annoying. There are true chip and PIN cards available from a few issuers. I’ll try to include a round-up later of what’s available now.

  2. “It’s no harder to use a chip-and-PIN machine at a checkout register than it is to use an ATM.”

    You’ve got to be kidding. First off, I don’t use ATMs because there is no cashback when I pay with cash. Second, with my ATM card, I can select a PIN that I’ll remember, and with credit cards, that is not a universal feature.

    I guarantee that the reason the CC issues don’t want the PINs is because there is a percentage of people that just don’t want to have to remember them, and I’m one of them.

    Your concern about fraud is unfounded. The UCC, Reg Z, and Reg E protect me from fraud, not PINs. You didn’t lose any money on your Bluebird or your Capital One card because of it, but inspite of your Bluebird needing a PIN, thieves were still able to get some money, but it didn’t come out of your pocket. The best that a PIN will do is limit losses to the bank, and who cares about them? However, it will inconvenience me, and that’s not something I’m going support.

    • Liz Weston says

      I didn’t find it hard to memorize the PIN that came with our UNFCU card. And the Bluebird card was compromised because it has the old school magnetic stripe, which is easy for a skimmer to capture along with the PIN. If it had a chip, they’d just get the PIN, which would be useless by itself. Personally, I’m tired of having my accounts frozen, talking on the phone to fraud reps, and waiting for new cards. I want the new tech.