What Is a Chip-and-PIN Card? – Best Credit Cards with Chip and PIN Security

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Do you want to know What Is a Chip-and-PIN Card? If you want to know all about this topic then you simply welcome to this page. I do write articles on how one can get access easily to things online and the chip card is one of them.

What Is a Chip-and-PIN Card
What Is a Chip-and-PIN Card

I am going to tell you what the Chip Card and Pin Card simply means and then how you can

What Is a Chip-and-PIN Card?

Paying for the purchases with a rewards credit card that has always been convenient, but you might even have noticed some substantial changes in how your card is processed over the years. For instance, where we once “swiped” our credit cards in a payment terminal just simply to make a payment, we are now asked to insert our credit card—or “dip” our card—instead. In most cases, you might even be able to “tap to pay” with your credit card, which will then involves holding it next to the terminal so your card information can be accurately read.

What Is a Chip Card?

The chip card is a standard-size plastic debit or credit card that simply contains an embedded microchip as well as a traditional magnetic stripe. The chip encrypts information that will increase data security when making transactions at stores, terminals, or automated teller machines (ATMs). Chip cards are even known as smart cards, chip-and-PIN cards, chip-and-signature cards, and the Europay, Mastercard, Visa (EMV) card.

What Is A Credit Card PIN?

A credit card PIN—simply known as your personal identification number—is a four-digit code that you can use to verify that you are the person making a purchase with your chip and PIN credit card. You can even pick your own PIN when you sign up for a chip and also pin credit card, and you can even also change your PIN at any time.

With a unique PIN that nobody knows but you, your transactions should be then even less susceptible to fraud. After all, it is fairly easy to forget a signature and then walk away with merchandise at a payment terminal, yet hackers and even thieves will have a difficult time guessing a four-digit code. Your chip credit card may not automatically come with a pin.

How Do Chip And PIN Cards Work?

The Chip and PIN cards are simply named after three major credit card networks across the world—Europay, Mastercard and Visa (EMV)—and they were simply first introduced in Europe in the year 1993.

Chip and PIN cards were then developed as a way to reduce point-of-sale credit card number theft and also skimming cybercrimes. And, as of Oct. 2015, all the U.S. merchants were then mandated to accept EMV cards or face potential liability for any credit card fraud originating at their establishment.

But, how do the chip and pin credit cards work exactly? Instead of you using the magnetic stripe on the side you once used to make a purchase, the chip and PIN credit cards have a small metallic chip on the front that holds your payment data. This metallic chip is simply designed to reduce fraud, and it also does so by providing a unique code for each purchase you make. Because the security code is simply unique for every purchase, it is significantly more difficult for a thief to use your card for the purpose of fraud.

Can I Get A PIN For My Credit Card?

Most credit cards with the chip technology are been issued in the U.S. are considered “chip and signature” cards. This type of credit card simply comes with the added fraud protection of chip technology, yet you will then be asked to provide a signature instead of a PIN when you use your card for purchases.

Some credit card issuers can even offer PIN capacity as well, meaning you can then add a PIN to your card that does not already have one. But if you then want this added layer of protection, it is simply up to you to call your card issuer to inquire.

Are Chip And PIN Credit Cards Safe?

Chip and PIN credit cards are simply significantly safer to use than their outdated magnetic stripe counterparts. This is simply due to the uniqueness of the, encrypted code that is generated each time you initiate a transaction. This code simply lets your actual credit card number to remain concealed and also makes any data derived from thieves during a transaction absolutely useless.

However, the consumers should then keep in mind that credit card transactions are already “safe” in terms of their liability. The Fair Credit Billing Act (FCBA) simply sets a limit of about $50 in total liability for fraudulent credit card transactions that are made with your card, and liability is set at about $0 for fraudulent transactions made with your card number. On top of that, the majority of the credit cards have zero fraud liability policies that will then make sure you will not pay a dime for purchases you did not make.

If someone then uses your credit card or card number for any fraudulent purchases, all you have to do is just call your card issuer and then you should report the fraud. From there, the fraudulent transactions are then wiped from your account, and also your issuer will now take over the investigation from there. Additionally, you will be sent a new physical credit card, as well as a new account number to use.

Best Credit Cards with Chip and PIN Security For 2022

If you like the idea of simply getting the best credit card security features out there, it is then smart for you to then take a closer look at the credit cards that have chip and PIN technology. Here are top chip and PIN credit cards for 2022:

Chase Freedom Unlimited: Best Overall

If you are searching for a no-annual-fee chip and pin credit card, the Chase Freedom Unlimited® is then hard to beat. With this Chase credit card, you can then simply earn or get 5 percent cash back on travel purchased through Chase Ultimate Rewards, also 3 percent cash back on dining, also you can get 3 percent cash back on drugstore purchases and 1.5 percent back on all purchases.

If you then frequently utilize rideshare services, you will also get or earn 5 percent cash back on Lyft purchases through March 2025. In the first year, you will simply earn or get extra 1.5 percent cash back on everything you buy (on up to $20,000 in the first 12 months). That is 6.5 percent on travel purchased through Chase Ultimate Rewards, 4.5 percent on dining and also drugstores, and 3 percent on all other purchases.

Blue Cash Everyday Card from American Express: Best Known for groceries

The Blue Cash Everyday® Card from American Express is simply another no-annual-fee chip and pin credit card that allows you to earn cash back on grocery purchases and other bills. This cash back credit card simply comes with a welcome bonus of about $200 back after you have spent $2,000 in purchases on your new card within the first period of six months of card membership. You will get cash back in the form of statement credits.

You can even get 3% cash back at U.S. supermarkets, U.S. gas stations and U.S. online retail purchases on up to an amount of $6,000 per calendar year in purchases in each category (then 1%), and 1% cash back on other purchases. Just then you should keep in mind that the cash back earned with this card can be then redeemed for statement credits to your account.

Bank of America Premium Rewards Credit Card: Best Known For Travel

The Bank of America® Premium Rewards® credit card simply charges an annual fee of $95, yet the rewards and also perks you receive can then make it a good investment. You can then begin to start earning 50,000 online bonus points ($500 value) when you spend about $3,000 on your card within the first period of 90 days of account opening.

You will then also get 2X points per $1 spent on travel and also dining and 1.5X points per $1 spent on all other purchases. Some other benefits is that you can even enjoy with this travel credit card include up to a about $100 airline incidental credit each year, up to $100 in Global Entry or TSA Precheck credits every four years and no foreign transaction fees.

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