Americans Still Do Not Have Chip and Pin Cards

For those who are going to travel outside the country this spring or summer, unfortunately, you are still unlikely to get a hold of the chip and pin credit cards, which is being used by the rest of the world.

If you’re going to a place and transact with a living person, then you can still use your current credit card. However, your current credit card will be useless if you are going to deal with a card-operated machine-only payment system.

Banks around the world currently make use of two credit card systems. The first is the stripe and sign system, which is common in the United States, and the second is chip and pin system, which is common in developed parts of the world like Canada, Europe and much of Asia.

In countries where the chip and pin system is used, traveling Americans can still use their stripe and sign cards such as American Express, MasterCard, and Visa. However, if the computerized system is either easier or the only way to pay, then stripe and sign cards cannot be used.

At present, banks in some of the countries give out dual cards, which come with a magnetic stripe and a chip at the same time.

However, although people who own airline-branded cards are more likely to travel than the general public, banks who issue these cards do not offer dual cards.

It is undeniable that there is a delay in the release of the chip and pin cards. However, it is definitely not because of cost, since the banks acknowledge that the chips cost lower than $1.

On the other hand, the good thing is that a growing number of credit cards either no longer charge a foreign exchange fee or charge only one percent. To check for the list of these credit cards, go online and visit websites like nerdwallet.com or cardhub.com.

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