As of October 1, 2015 the Payment Networks’ Liability Shift connected to EMV (EuroPay, MasterCard and Visa) is set to be enforced in the United States. It’s about time you moved on to the latest technology. Those of you who are in search of a new EMV Chip with PIN credit card that doesn’t charge an annual fee or foreign transaction fee know that even the thought of such a card borders on non-existence.
What Does EMV Chip with PIN Priority Mean?
The First Tech Credit Union is making a switch from Visa to MasterCard and is offering credit cards that are EMV Chip with PIN enabled. PIN priority on a credit card means that the days of swipe-and-sign are in the past – now you have to swipe-and-punch.
If you’ve already got a First Tech credit card then you’ll receive your new Chip with PIN card soon. However, new applicants will get the latest MasterCard when they’re approved. The MasterCard supports PIN priority so you’ll be able to use it at any of the new payment terminals right off the bat.
If you’d like to find out more about EMV Technology, check out our EMV Technology Basics Explained for Dummies post.
Which Cards Offer Chip with PIN?
New applicants can pick from one of three credit cards offered by the First Tech Credit Union if they are looking for cards that don’t charge a foreign transaction fee or annual fee. If this offer sounds enticing, be sure to check out their website. The credit cards on offer are:
Choice Rewards World MasterCard
The Choice Rewards World MasterCard will qualify you to earn points from a remarkable rewards program. Card holders receive 2 points for every $1 that they spend on routine purchases such as groceries, electronics, household items and even purchases made towards telecommunication.
Platinum Rewards MasterCard
If you prefer a Platinum Rewards MasterCard, the rewards program might not be as beneficial as the Choice Rewards World MasterCard but it’ll let you redeem your points for charitable donations, travel and merchandise. With the Platinum Rewards MasterCard, you’ll get 1 point for every $1 that you spend.
Platinum Secured MasterCard
Secured credit cards are designed for users who don’t have an aged credit history to show. Same is the case with the Platinum Secured MasterCard. Card holders are required to add a security deposit to their account before they receive the card. The rewards program is the same as that offered on the Platinum Rewards MasterCard i.e. 1 point for every $1 spent. The Platinum Secured MasterCard is ideal for college students who have recently started using credit cards (or are using credit cards for the first time) and would like an EMV Chip with PIN card.
Over To You
The First Tech Credit Union is offering EMV Chip with PIN cards during its shift from Visa to MasterCard. If you’d like to sign up for a new, secure card then applying for one of their cards is a pretty good idea. You’ll get the credit card soon as you’ve been approved with it thereby reducing your chances to fall prey to credit card fraud.