Chip-Card Strength & Life Expectancy | General financial discussion | Discussion forum
Was just curious to see how many chip cards you have gone through? I've now gone through 2 cards in about a year with minor use.. They just simply stop working.. This first happened with a debit card which was scratched.. Unfortunately for debit chip & pin the card and subsequent accounts (if there is no branch) are all but useless in Canada.. This time was a credit card and it fell back to mag stripe successfully..
Not to happy so far.. I'm averaging about .75/year with chip cards and about 4-5 years on non chip cards.. This is minor use on these cards.. Not always used daily..
Consider yourself lucky that the chip card can only be read by mag. stripe now. The last thing you want is for people to remotely steal your information.
I'm concerned with security.. A few months back I did nothing but mag transactions on credit cards.. Debit wise if the chip breaks the card is toast.. If the terminal tour use is compromised usually they are gonna get ur info chip or not.. It's the liability for compromised chip and pin I don't agree with.. It turns out contacts were dirty I guess.. I'm gonna try the card again shortly..