I’ve never had a problem with chip readers on my new card, and wish they would require it everywhere, PIN or no PIN. A chip cannot be quietly skimmed by, for example, a fake card reader at an ATM or gas pump, or a dishonest waiter. With the chip you have to have the physical card, and if someone steals it, you can call and have the card cancelled. If they go to using the PIN, so much the better. I really wish they would send an instant text message to the owner every single time the card is used, in real time.
Correct. I had 20 thousand dollars charged to my swipe credit card by fraud. Apparently I took one hell of a vacation in France in two hours while I was in Harker Heights, Texas. Master Card made it all good. Thank you Master Card.
The real hell of it is today with a chip the same thing could happen without a required pin. The chip is no safer than the swipe card unless the chip requires a pin.
Relative to Master Card despite repeated phone calls and letters they gave me zero information about where the fraud occurred. I think it was at a local chain drug store. I went in and bought some items. An hour later I went into Walmart and had my card declined due to my card being maxed out. I was not happy.
The local chain drug store is a very reputable and I suspect it was an employee that did the fraud. They were pros. In one hour they had charged 20 thousand dollars in increments of 2500 at a time.
I suspect Master Card would give me no information as they were afraid I would stick a 1911 in someone’s face. They may have been right.