With the new year fast approaching many people have resolutions about managing their money and credit. One of the newer things happening are chips in cards. These are known sometimes as smart cards, chip cards, smart chip cards, and EMV cards. These new cards are supposed to help protect against fraud. However, just like all kinds of money related things there will always be people who will find a way to use them fraudulently.

I have only received one new card with a chip in it so far. The rest of mine are still the old style. However, I have only been to one store, Target, that is implementing use of the new chip technology. Most stores I go to have the slot at the bottom taped over because their systems still aren’t ready to use.

This week’s infographic shares a bit about the new chip cards and what you need to know about them.

Are you using the new chip cards yet?

Robyn

 

Credit Card Chips: Everything You Need to Know [infographic]

Infographic Source: CreditCards.com and see this post for more details: http://www.creditcards.com/credit-card-news/emv-faq-chip-cards-answers-1264.php