Chip Cards Coming Your Way

Visa Classic Credit CardNot all fall fashion statements are being made on the runway. Plastic cards are also sporting a new look. If you have an Allsteel Credit Union credit card, you will soon be receiving a new card with a metallic square, an EMV chip. EMV stands for "Europay Mastercard Visa" and is a more secure way to use your card. All Allsteel Credit Union debit cards will be re-issued with an EMV chip in 2016.

That small metallic square on the card is a computer chip. When you insert the card into the reader at a merchant, the card chip creates a unique transaction code that cannot be used again. That makes it worthless to a hacker and helps prevent data breaches and fraud. A card's magnetic strip contains sensitive data that doesn't change, making it more vulnerable to counterfeiters.

While the nominal deadline for chip card conversion is October 1, not all merchants will have complied by then. You can still swipe your card at these merchants, although you won’t get the security benefits of the chip in those cases. The introduction of the chip will help reduce fraud, but it is not a cure-all. Always keep these tips in mind:

  1. Carefully check your account statements for
    accuracy. Make sure all of the transactions are yours.
  2. Regularly review your credit report. Click on
    the “Consumer Resources” tab at allsteelcu.com
    for details.
  3. Memorize your PIN; never write it on your card.

If you have any questions or concerns, please contact
the credit union.

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