Monday, October 23, 2017

Better Business Bureau warns consumers to guard their CHIP card

Image result for CHIP card





The Connecticut Better Business Bureau is alerting people to watch for wear to their CHIP-enabled credit cards. The CHIP on the card could fall off because of repetitive use. as repetitive use can cause the if the CHIP falls off  the card’s owner vulnerable to fraudulent purchases made in their name.
“Unfortunately, if somebody finds a card’s CHIP, all they have to do is glue it onto another card and they can go on a shopping spree at your expense,” said Connecticut Better Business Bureau spokesman Howard Schwartz in a news release. “This is not something that is widely known, and as we approach the holiday retail season, credit cards can take a beating. Unless you check the credit card CHIP’s integrity, it may fail while when you get to the checkout counter.” 
In the event of fraud, cardholders have zero liability, however, it is best to inform the card issuer as soon as possible in the event of a CHIP failure or loss. 
BBB has a checklist to avoid CHIP card damage:
Don’t wait for the CHIP to fail - If a chip begins to peel or come loose, contact your card issuer immediately. They will send you a replacement card and a new account number. 
Inspect your CHIP cards - Check your cards from time to time. It can prevent the inconvenience of having a credit transaction being rejected, and more importantly, prevent fraud.
Limit excessive wear and tear - Credit cards have a limited lifespan and they won’t last as long if they are jammed into point of sale card readers, scraped or carried in a pocket or purse with keys or anything else that may scratch them.
Ask for protective sleeve - Many cards come with them, but if you don't have a protective envelope or sleeve, contact your card issuer.

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