Credit Card signatures going extinct
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Thread: Credit Card signatures going extinct

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    spferdil's Avatar
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    Credit Card signatures going extinct

    I've been noticing for a while that seldom ever when using a CC does it ask for a signature any more. No one ever looks at them anyway.

    CC signatures going extinct
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    Quote Originally Posted by spferdil View Post
    I've been noticing for a while that seldom ever when using a CC does it ask for a signature any more. No one ever looks at them anyway.

    CC signatures going extinct
    I saw that too. I would say 90% of the places I go still require a signature. I'm always amazed because no one ever looks at the CARD so what is the point.
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    In the US I've heard that the racketeering companies, I mean credit card companies, don't want to do anything to discourage the use of their plastic. They want to allow signature only, and they are ok eating billions in fraud because they're making much more in transaction fees. All that being said, card companies have increased the minimum amounts that require a signature.

    https://www.nerdwallet.com/blog/cred...i-always-sign/

    If you read the why in the article, the amount, the card issuer, the merchant, and the type of merchant or transaction all play a part in whether you sign or not.
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    Seems that more and more, you don't hand your card over to anyone anymore. You insert the card, approve the amount and sign.

    I haven't signed the back of my cards, forever. I always write "please ask for ID". Even then cashiers rarely ask...
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    I used to write "please ask for ID" on my cards until I was told that the card had to be signed to be legal. So I signed it and later put a sticker on it that said "please ask for ID". I stopped doing it because I haven't been asked for an ID in over 25 years. No one looks for a signature.
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    I seem to be requested a signature at random. Trying to see a pattern - it seems that a purchase over $25 wants it. Also if it is a store that I donít frequent - donít know.

    A local mini mart chain didnít activate their card readers to use the new chip. They pride themselves on getting you out fast and say the chip reader takes too long - which it does.

    I donít get out much - but the only place I have to hand them my card now is my Ford dealerís service department. Every other place I go has the terminals where you do it all yourself which I like much better.

    I havenít been in a restaurant in many years - donít know if I would like handing my card to someone who disappears with it....
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    Most banks and credit card companies have notifications for every transaction on your card. Kinda cool to make a charge and have my phone ding and say there was a charge. Had a fraudulent charge last year and knew it right away. Immediately shut off card and contacted credit card company and had new cards in two days. Easy peasy. I highly recommend it!

    My bank also sends notifications for EVERY transaction on our bank accounts. So I know when money is moving around, in or out, even from my own account to my own account. Their system is a little delayed, but my main credit card through a big cc company is almost instantly.
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    Quote Originally Posted by nebo View Post
    Most banks and credit card companies have notifications for every transaction on your card. Kinda cool to make a charge and have my phone ding and say there was a charge. Had a fraudulent charge last year and knew it right away. Immediately shut off card and contacted credit card company and had new cards in two days. Easy peasy. I highly recommend it!

    My bank also sends notifications for EVERY transaction on our bank accounts. So I know when money is moving around, in or out, even from my own account to my own account. Their system is a little delayed, but my main credit card through a big cc company is almost instantly.
    oh, and I have written 'see ID' on the back of my cards for years too and hardly ever get asked for ID. haha.

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    Quote Originally Posted by coaltrain View Post
    I seem to be requested a signature at random. Trying to see a pattern - it seems that a purchase over $25 wants it. Also if it is a store that I donít frequent - donít know.

    A local mini mart chain didnít activate their card readers to use the new chip. They pride themselves on getting you out fast and say the chip reader takes too long - which it does.

    I donít get out much - but the only place I have to hand them my card now is my Ford dealerís service department. Every other place I go has the terminals where you do it all yourself which I like much better.

    I havenít been in a restaurant in many years - donít know if I would like handing my card to someone who disappears with it....
    I've noticed for a while now that WalMart seldom asks for a signature, especially since they put in the chip readers, and according to the article they plan to stop entirely sometime this month. Kroger never asks and hasn't in a long time. Most all places here now have the chip readers and that has cut down on them asking even more.

    I use a CC for just about everything except eating out. In the early days I just never liked the idea of giving someone a credit card and them scurrying off out of sight with it. Many places now have the terminal on the table but old habits die hard, I still pay cash. And that's the main thing I even carry cash for anymore.
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    The USA is a bit backwards when it comes to credit card transaction security.

    The chip contains a bunch of data that is encrypted. Without delving into the theory and math involved, it makes it nearly impossible to clone a credit card. So unless the card is reported stolen, the possessor is assumed to be the rightful owner. All retailers were supposed to have transitioned to read chip cards in the fall of 2016. Some still haven't.

    The North American, and parts of South America and Asia version of the system are called chip-and-signature. The signature is supposed to be checked as an additional layer of security. Almost no one does so.

    I like the European version, called chip-and-PIN. When using the card, you need to enter a PIN number. This is really secure since a stolen card is effectively useless without the PIN. However, I don't know how or if the PIN is used for online transactions where most of the fraud occurs. When I travel overseas only occasionally will I run into issues at restaurants with my chip-and-signature cards. Normally they always use a wireless terminal that the waiter brings to your table to settle up. In one instance, the power went out while eating in a Poznan neighborhood and they brought out one of the old card machines where it imprints the raised number on the card to a carbon copy paper form. I haven't seen one of those in the US since the 1980's!

    Al
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