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Having To Remember A PIN Number With Credit Cards Now

Today I received this mail about a new credit card that I will be receiving. At first I thought this was just going to be a regular MasterCard being re-issued since my current one is about to expire soon. Funny enough, when I opened it up the letter did indicate that it was credit card related except there was no card inside.

Apparently, the new card that they will be giving me contains a new chip technology where instead of just swiping your card at a merchant terminal you will now have to enter a pin number as well. Therefore, in this mail it gives me a PIN number, similar to when you open a new bank account, and then it states that the actual credit card will be mailed at a different date.

That is kind of a weird way of doing it I thought. I guess it is for security reasons where some people may steal other people’s mail where they feel that there is a credit card inside and this way if they do steal it the card will be useless. I don’t think I have even seen merchants around here that process cards specifically with this chip technology yet. Feels more high tech I suppose.

Comments to Having To Remember A PIN Number With Credit Cards Now

  • This new ‘Pin’ and ‘Chip’ method….I have been reading that the onus of the responsibility of fraudulent transactions has now shifted bigtime to the cardholder. Is this true? What can we do about it other than cancelling our cards?

    Willie 10/15/2009 7:16 am
  • Willie,

    I’d be interested in reading what you read that gave you the impression that the responsibility of fraudulent transactions are passed on to the cardholder in a big way.

    The only thing that kind of made me wonder was this clause that said “Charge for dishonored payment from or to your account” and it lists a $25 fee.

    Alan Yu 10/15/2009 9:13 pm
  • how do i request a pin number for my credit card

    richard sutton 12/12/2009 9:39 am
  • Richard,

    If your bank offers a chip based credit card then the PIN number would be automatically given to you upon them issuing you the card.

    Alan Yu 12/12/2009 9:59 pm

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