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Respected Contributor
Posts: 3,422
Registered: ‎03-15-2010

The point of EMV credit cards

I thought the point of the new EMV credit cards (the ones with the micro-chip) was that they we safer and less likely to allow credit card fraud from skimming.

 

On our last vacation I took only 2 credit cards with me and both have the new technology. I only used the one card during my travels.

 

Once we returned home I was contacted by the fraud dept of the CC companies for suspicious activity.  They have declined several thousand dollars worth of wire transfer attempts using my cards. All starting the last 24 hours of our trip. Woman Surprised

 

Yes, my account info was stolen!  I have no idea how this happen.  I have NEVER had this happen before and it did not happen to my husband who's cards are not EMV yet??

 

So much for new technology!

Honored Contributor
Posts: 10,809
Registered: ‎06-15-2015

Re: The point of EMV credit cards

Wow!!  Sorry this happened to you.

 

  I only have the regular credit cards.

 

Have thet traced where they were being used,etc?

Always be thankful and you'll have than more than you know.
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Honored Contributor
Posts: 11,153
Registered: ‎05-22-2012

Re: The point of EMV credit cards


@Abrowneyegirl wrote:

I thought the point of the new EMV credit cards (the ones with the micro-chip) was that they we safer and less likely to allow credit card fraud from skimming.

 

On our last vacation I took only 2 credit cards with me and both have the new technology. I only used the one card during my travels.

 

Once we returned home I was contacted by the fraud dept of the CC companies for suspicious activity.  They have declined several thousand dollars worth of wire transfer attempts using my cards. All starting the last 24 hours of our trip. Woman Surprised

 

Yes, my account info was stolen!  I have no idea how this happen.  I have NEVER had this happen before and it did not happen to my husband who's cards are not EMV yet??

 

So much for new technology!


 

Card info can be stolen and used in too many ways, which is why your credit card company has an entire division devoted to monitoring unusual activity. Information can be stolen by hacking a website where a card was used, by putting a capture unit over any gas pump or ATM that you might run a card through, by photographing your card while it sits on a table waiting for a waiter to come get it, or by a server copying the information while he or she runs the card you used for dinner. No chip can prevent all of that, especially when you don't need a physical card to make a purchase online.

Respected Contributor
Posts: 2,193
Registered: ‎03-18-2015

Re: The point of EMV credit cards

You can't seriously believe that having a micro-chip in your card will protect you all the time.  Your card information can be obtained in stores and over the internet which has nothing to do with skimming.  A microchip can't protection you from that.

"Never water yourself down just because someone can't handle you 100% proof."
Esteemed Contributor
Posts: 5,279
Registered: ‎11-15-2011

Re: The point of EMV credit cards

Could it have been scanned before you got the new EMV cards?

Esteemed Contributor
Posts: 6,280
Registered: ‎03-09-2010

Re: The point of EMV credit cards

Unless you only used the card in the newest readers, which are difficult to find in the U.S. at this time, it is likely that the information was taken from the magnetic strip on the back of the card with a skimmer when it was swiped or through the actions of a dishonest employee if your gave them physical possession of your card even in your presence.

The more I learn the more I realize how little I know.
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Respected Contributor
Posts: 3,422
Registered: ‎03-15-2010

Re: The point of EMV credit cards


@Karnerblue wrote:

You can't seriously believe that having a micro-chip in your card will protect you all the time.  Your card information can be obtained in stores and over the internet which has nothing to do with skimming.  A microchip can't protection you from that.


The 1 card was brand new, never been used.  The card was sent to me a few days before we left for the trip.

 

The other card was a few weeks old, I had an account with that company in the past but the card number was new when they sent to the new tech.

 

I thought it was VERY odd that for the first time in my life that this happen was with the ONLY 2 microchip cards I took to Hawaii. Both cards started fraudulent use with 24 hours of each other. None of my other cc (that are not chipped) that I use to shop online with several times a week have been a problem.

Esteemed Contributor
Posts: 6,556
Registered: ‎08-20-2012

Re: The point of EMV credit cards


@Marp wrote:

Unless you only used the card in the newest readers, which are difficult to find in the U.S. at this time, it is likely that the information was taken from the magnetic strip on the back of the card with a skimmer when it was swiped or through the actions of a dishonest employee if your gave them physical possession of your card even in your presence.


-------------------------------------

All the Wal Marts in our area have added a machine that  accepts cards with chips.  I was surprised - from one week to the next.

Esteemed Contributor
Posts: 6,280
Registered: ‎03-09-2010

Re: The point of EMV credit cards

That's good news Corita.  So many businesses though are way behind and I think many will miss the October 1st deadline of the liability shift.  I'm sure they will petition card issuers for an extension.  I hope they are not given one though.

The more I learn the more I realize how little I know.
Are you setting an example or being an example?
Esteemed Contributor
Posts: 6,475
Registered: ‎03-14-2015

Re: The point of EMV credit cards

What could have also happened is, the bad guy had a device hidden, and as he walked past you, the device picked up all the info from your credit card, without your credit card ever leaving your wallet.