New security flaw in credit card chips revealed

Sounds a lot like the pgp encryption system that's publicly available for anyone to encrypt their own emails. You go to the website (I use igolder) and you are issued a "private" key that you store in a safe place (thumb drive, not the cloud) and a "public" key that you can give to anyone who will be sending you encrypted messages. The sender uses the public key which turns the message into a randomly generated series of charecters. When you receive the encrypted message, you use your private key to decode it. I and my wife use it if sending personal or private info over email or text message because these days you never know who is reading your messages.

 

Guess no one has heard of android pay. Or samsung pay. Or ipay

Credit cards are no longer needed.

But regardless, tech is constantly upgradeing, crooks are constantly finding ways for the new tech.

Cash is king. Can still be stolen with a gun.

 

Sure. Let's put ALL critical financial information in one central place, out of our control. What could possibly go wrong?

 

As another line of defense, I wrapped two playing cards in aluminum foil, then placed one on the outside of my wallet, the cards between them. It's said to be effective, so that guy walking down the que with his laptop selects lower hanging fruit.

I get new cards about once a year, for a new number, then change passwords randomly. Some of my passwords are so complicated I can't even remember where to start. I saved a password file under a randomly selected name. I have a debit card that could hurt me if somebody hacked it, so I'm pretty careful. I use cash when possible.

 

Just got a new replacement chip card in the mail asking me to call an 800 number to activate it. My old card is still good til 2018 though. Is it safe to upgrade to the new card?

 

Yes. And I think once you do the phone-in activation for the replacement card, the old card does not work, but would shred it good just in case this is not the case. Are the numbers the same on both cards? Often they will assign a new card number (account number) when a new technology card is issued, and transfer the history to the new card.

 

Canada has been using chip cards for quite a few years now and when using a chip transaction with a credit card you also need a PIN.They will not approve without the PIN.

 

Not completely true , if my bank card is ran as credit rather than debit then no pin is needed just a signature and if it's less than 20 bucks no signature is required

 

I was talking about Canada. In Canada if you use your chip card you have to enter a PIN.If you swipe the card no PIN. Canada has nothing but chip cards for more than 5 years. The only time you can swipe is if the place has no chip reader.