[lug] OT: Credit Cards w/ Chips

William D. Knoche bill.knoche at gmail.com
Fri May 15 14:54:18 MDT 2015

Walmart in Lafayette, Target in Superior, and Home Depot in Louisville 
are all places I have my "chipped" card in the chip/card reader recently.
It is indeed a small step in the right direction and it only took 15 
years to roll out. It is however still quite inadequate. Practical 
solutions, however, are yet to be devised. A next step might be a 
password or reasonable length pin - something you have, something you 
know. And certainly not a 3 digit code printed on the card itself... and 
biometrics turned out to be a very undesirable method.

I am on my third card this year. But I put up with it because I never 
carry cash (at least not more than $20), I will not have a debit card, 
and I never write checks (ok, online bill pay does write checks for 
me...). The object is to pick the most secure payment mechanism that is 
accepted at the most places which if compromised someone else is liable for.
I also use multiple accounts. My primary accounts are never used to 
write checks, make payments, etc - I only use them to transfer money to 
other accounts at other institutions which only contain enough cash to 
cover the checks (or online bill pay)  written against them. It is 
sometimes inconvenient but it does make it somewhat more difficult for 
the thieves.

Credit cards or more like a blank promissory note.
Debit cards on the other hand are the whole wallet - they have the 
actual cash. Once compromised everything in the wallet is gone with no 
traceability and no credit protection act to protect the consumer.
Gift cards and payment cards are like debit cards but constrained by the 
amount stored on them. For many this is probably the way to go - 
anonymous and limited exposure.


On 05/15/2015 12:36 PM, Maxwell Spangler wrote:
> I received an Amazon/Chase VISA card recently with a chip on it.
> While I know this is not guarantee of my credit card's security, it's 
> a step in the right direction.
> However, I have yet to find an place where I can use it.
> Terminals with chip reader hardware exist at Target, King Soopers and 
> many other places where I shop, but when I stick my card in, I get no 
> response and have to swipe.
> Does anyone know anything about this?
> Posting here because this list has security aware people who may be 
> able to share some backstory about the enabling of chip cards in 2015.
> Thanks,
> -- 
> Maxwell Spangler
> ========================================================================
> Boulder, Colorado, USA
> http://www.maxwellspangler.com/ <http://www.maxwellspangler.com/pen>
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