So I’ve been told that to go to Europe I need a credit card with a chip in it. So I’ve called my bank and credit union and neither has chips in their credit cards. My friends tell me that credit cards were suppose to have chips in them by October 1 but neither of my banks have done that or will offer a card with a chip if I ask.
So I apply for a credit card at one of the places that has rewards and advertises all the time. We just refinanced our mortgage and our credit rating was very high and the refinancing went very fast. So I apply, they approve me but… They say my credit score was much lower than what it was reported to me by the mortgage lender and the interest rate is high.
I really don’t want another credit card, I am happy with the card we’ve had for the last 30 years. I wasn’t planning on carrying a balance on this new card but it’s the point. I called the company that approved me for a credit card and cancelled, I was annoyed. And they gave me a card with a $30,000 limit but apparently my score is less than stellar. Who wants or needs a card with a limit like that. Ugh!
So now that my rant is over, can anyone recommend a credit card with a chip in it that I can get without a lot of hassles? I’ve probably lowered my credit score with the stunt I pulled today but I was seriously annoyed. I just want a card that I will use on this trip in case the card I have wont work.
In some self-service situations outside the US, you may need a card with chip-and-PIN credit transaction capability (most chip cards issued in the US only do chip-and-signature credit transactions, since PIN use is usually used for debit transactions).
I got a Capital One travel rewards card before my daughters went overseas. I got the card so that I could sign them up for cards, too, as authorized users. I don’t know if the cards have chips. (I just looked at the website and can’t find the information there easily.)
Most American chip cards are chip and signature cards, not chip and pin cards. That being said, I used a capital one card in Ireland a few years ago and just called them a few days in advance to get a PIN number.
Recently, I was in Sweden and used a chip and signature card with no problem. That was a Southwest Visa. Pretty easy to get and no foreign transaction fees. Plus, 50,000 points!
Chips are being required so new cards should be issued with them. Look up the VISA site–decent alternatives.
Our new cards both swipe and chip which is good for USA and worked everywhere in Spain when we went in May.
Some businesses require the chip and PIN type.
Our bank re-issued our cards with chips at our request.
The Citibank cards were just reissued with chips. I have two I need to activate. Citibank has lots of affinity partners for cards, like Southwest Airlines and Disney, a lot of the colleges and universities.
I think the others are coming (was told at Target they are issuing them with chips).
Getting your new mortgage could have changed your credit score. It is usually temporary, but it does happen.
My sister and I took a couple of credit cards and a couple of debit card to Europe, there were places where she had to do the transaction, mine would not work and vice versa. I had two cards from the same bank, sometimes one would work and the other would not. It is complicated. Get a chip & PIN card and bring one more at least, preferably from a different bank.
My non chip debit card would ONLY work in bank ATMs, not in the small random ones.
“loose” your current card. It will more than likely be replaced with a chipped card. I did this with my Capital One after they told me that the chipped cards would not be out till October. And yes, they sent a chipped card.
I went to London in July. The cards I used have chips but they are not chip and pin that Europe requires so it was the same as not having a chip. Had no problem with hotel, had no problem with a restaurant. I brought cash that I purchased from my bank but when I ran out I went to a bank ATM. They had three ATM machines, two were for chip and pin which did not work for me, one had an “American” type reader and it worked no problem. I wasn’t even charged anything to use it. You just have to find the right bank ATM. I was stressed about it before I went but then once I got there had zero problems.
You’ll be fine if you have cash when you go, and find a place to get more cash when you need more. And if you are using credit card at your hotel - I have read it would be fine - and I had no problem with my somewhat upscale hotel in London.
My CapitolOne CC is a chip & signature card and has no foreign transaction fees. I asked and AmEx sent me a chip & signature card as well. The Barclay’s MCard is chip & signature. I don’t have any chip & pin cards, but before going to Europe, I can ask my banks for pins. I also have some debit cards, but don’t know if they have chips, since I rarely use them (didn’t have any problems using them in Canada). Schwab also has debit cards with no foreign transaction fees.
Right before my trip to Paris a few years ago I got a Bank Of America travel card with a chip no annual fees and no foreign transaction fees (I think they gave a decent exchange rate). I used it that week on vacation and then put it away and have not used it since.
@musicamusica’s idea of losing your current card is a great idea.
Anytime you get more debt – as you did when you took out the mortgage – your credit score goes down. Once you’ve demonstrated you can make payments regularly, your credit score will go up again. Taking out the first credit card probably lowered your score also. IMO you shouldn’t bother to apply for another card, as it will only drop your score even lower.
A $30,000 limit is too low? Really? Your existing card will probably work most places. CapitalOne is the way to go if you want a new one. No. I don’t work for them.
Aboutthesame, no I thought $30,000 was way too much, I wanted a card with a low limit so I could use it on this trip. No way did I want a big credit limit on my credit score. I wish they would have let me pick a limit on this card.
What I meant is why would the company give someone the ability to charge $30,000 when they told me they thought my credit score was not in the excellent but very good range.
It must have been the refinance and I didn’t understand that it would affect my credit score. We have very little debt, and the last 2 times I have applied for credit (mortgage and car loan a couple of years before) our credit score was the same and very high. I expected the same.
Now I don’t know what to do. I called both banks and asked if they could issue me a card with a chip in it. Both said they don’t have the technology and even if I got a new card, it wouldn’t have a chip.
The mortgage was just a refinance, we didn’t take out any extra money so our debt is the same. Went from a 30 year to a 15 year loan and because the interest rate was better, the payment is only $115 higher.
So should I not worry and go with a credit card that doesn’t have a chip but just a magnetic strip. Also the card I applied for was in my name, if my H applied for a card that should be ok, right? If I have to have another card for this trip.
Ha ha. I totes misunderstood. Sorry. I don’t think the credit limit affects your credit score, and, unless you’re planning to seek other credit in the near future, it wouldn’t matter anyway. I would have taken the 30K card and just use it as little as you like. I could probably charge close to 100K on the three cards I have (wife carries one, I carry another, and D has one for emergencies, so we can handle things if someone has a wallet stolen), and I’ve never seen an effect on my score from that mere fact.
You and your husband have separate credit scores and yes, your applying for a card is not on his record. Your scores may be similar or even identical, but yours is yours and his is his.
You are talking to someone at the bank who has no idea what technology they have. Really they don’t tell the front office people what the IT guys are doing.
When is your trip? If it’s a month or so away, ask them to replace your current cards as they are ‘damaged’ but don’t cancel the old card until the new one arrives and you are sure it works. My mother had a huge problem last year as they issued a new one but it didn’t work when it arrived and they couldn’t get it replaced correctly. It was rather a nightmare to straighten out, and I think it took 4-5 cards being sent to her home, the bank, the main branch of the bank, etc. before someone did it correctly.
Deb, did you ask the CC company if they could lower your limit? I’ve called before and said, “I’m not comfortable with that limit, if I keep it I want it lower”. They have made the change.
As I mentioned in other threads, I went to France this summer with an chipped American Express card and a chipped GAP Visa. The AE did not work for some reason, even after I called internationally and asked why (they had no idea!) - the GAP Visa worked like a charm. Go figure. There were some foreign transaction fees but we didn’t spend a ton and it was minimal IMO. But do ask that questions if you apply for another card - exchange AND transaction fees.
From what I understand about credit ratings, your credit utilization ratio plays a big role in the score. From that standpoint the 30,000 credit limit helps your score because you aren’t planning to charge a lot on the card. If you ask for a low credit limit and then use over 30% of that limit, it is going to hurt your score. I don’t think there is any harm in having high credit limits as long as the balances are low.