Why does my credit card have a microchip?

[Mar]

I was happy with the signature, what was wrong with that? At least it was possible to determine if I made the purchase by analyzing the signature and comparing it to my handwriting. With this chip, how do they know who punched in the code? I hate it, it basically transfers the responsibility of authentication from the company to the consumer.

And what's with the CVV on the back? Why do I need the 16 digit number plus the 3 digit number from the back? What's the point?

I hate credit cards.

[Team_Mclaren]

Originally posted by Mar
wahhhhh
I hate credit cards.

dont use it?

[dj_rice]

The 3 digit code is for online purchases mainly.

[max_boost]

Hey Mar, you know when they mail your credit card it comes along with all that written stuff, you should read that over when you have time lol

[flipstah]

Originally posted by max_boost
Hey Mar, you know when they mail your credit card it comes along with all that written stuff, you should read that over when you have time lol

lolol.

[Disoblige]

Problem is, most people don't give a shit if your signature matches or not.

Also, with PIN, it's tougher for scammers to make a fake card used for transactions (from swiping). Almost all PIN stations now are "Insert Card Only" and forbid swiping if there is a chip.

Making fake cards is really easy, especially when people present their I.D. when asked and 95% of the time the Driver's License Address is the Billing Address used on the credit card. Not all people have a separate P.O. Box Address used that's different from their billing address.

That's why credit card companies don't require you to show I.D. at all. In fact, they discourage it.

[jdmXSI]

The chip doesnt mean shit when you can still manually enter the cc number and you can do that on all machines. IMO I can't stand it either and I use my non chipped card when at all possible.

[Mar]

Originally posted by dj_rice
The 3 digit code is for online purchases mainly.

Why? If I have the 16 digit number then I obviously have the card.

[flipstah]

Originally posted by Mar

Why? If I have the 16 digit number then I obviously have the card.

The 3 digit code in the back is there to prevent people who don't have the card but have your number.

Not really a life-changer but every little bit counts.

[dj_rice]

Man. Your turning into the male version of Kritafo already

[Disoblige]

Originally posted by Mar

Why? If I have the 16 digit number then I obviously have the card.

Not necessarily. How's it obvious? It's to prevent those that can glance at your card and remember the 16 digits. Most of the time, people or cameras don't get to see both sides of the card.

Either way, PIN advantages > No PIN. CVV > No CVV.

[riander5]

Mar, quit whining. Deal with it

[alloroc]

Originally posted by Mar

Why? If I have the 16 digit number then I obviously have the card.

Because originally credit card transactions were manual ... the vendor would make a carbon copy of the card's raised letters.

You got a copy, the vendor got a copy and if the teller didn't like you he/she would keep the actual carbon piece between the copies and have a heyday ordering shit online.

The three numbers on the back are not used in personal transactions making it more difficult for the general retailer to use the carbon copy. Of course ... unless they ask to verify your signature - look at the back of your card memorize the three numbers and write them down for later use.

[rage2]

Originally posted by Mar
Why? If I have the 16 digit number then I obviously have the card.

It's to prevent skimming. I can dupe your card if I skimmed it, but I can't dupe the CVV because it's not embedded in the data on the magnetic stripe.

Originally posted by Mar
I was happy with the signature, what was wrong with that? At least it was possible to determine if I made the purchase by analyzing the signature and comparing it to my handwriting. With this chip, how do they know who punched in the code?

Well it should be you, unless you gave out the code, in which case that would be your fault for giving out the code with your card.

You can't skim the chip and recreate the chip. Not without considerable expense anyways. So even if someone's watching you and get your PIN, they would have to steal your card too. In which case, it's still protected by the CC company.

[Cos]

Originally posted by dj_rice
Man. Your turning into the male version of Kritafo already

That isnt fair. She has gotten significantly more manageable over the last year. Kritafo isnt on my ignore list. Mar/Broken Legs are.....

[ExtraSlow]

Who the fuck cares, the liability for fraudulent purchases is still on the credit card company.

That's why I make sure to pay with credit cards as much as possible. Keeps my money safer.

[Mar]

Whining?
nobody else is concerned? I tried to use Protected By VISA today and had to set up a password for the first time use. It wouldn't let me use symbols in the password.....WTF? So I have to use a less secure password because you don't know how to form a proper regular expression for SQL injection filtering? Financial companies are backwards.

[Mibz]

...and yet it's still more secure than simply having a 16 digit number and a stripe.

[max_boost]

Originally posted by Cos


That isnt fair. She has gotten significantly more manageable over the last year. Kritafo isnt on my ignore list. Mar/Broken Legs are.....

LOL Kritafo is a lot better.

Mar is an interesting character. Well spoken and educated but I don't quite understand him as he seems to make a big deal out of certain things where the rest of us are like why you so mad brah?!

As for broken_legs, that guy is the man when it comes to zero hedge stuff. Know what he's talking about. The world isn't rosy! I don't know why he's on your ignore.

[Xtrema]

Mar seems to be wearing more tin foil hats than Zenops lately.

Chip & Pin is better. The problem is trying to teach my techno-phob parents to use it. Every machine is different and English isn't their first language. And the fact that I always forget what pin was on less used cards.

The problem with mag strip is skimming and it will never go away until we can ensure 100% of the terminals can connect to the network.