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Frequently Asked Questions - Chip Card

It is a regular credit or debit card that is embedded with a microchip for increased security and peace of mind when used in-person at a chip-enabled terminal. The chip protects in-person payments by generating a unique, one-time code that’s is needed for each transaction to be approved and virtually impossible for thieves to replicate.

Chip cards are relatively new in the U.S., but are considered the norm in many parts of Europe.

We will begin issuing new cards in December 2015 and all card types will be reissued by Spring 2016. 

Many have already begun using chip-enabled terminals, so chip cards are being accepted in more and more places. Remember, your chip card also has a magnetic stripe and can continue to be used in places that do not yet have chip terminals (or for terminals not yet activated for chip cards). Note: Some merchants will be slower to adapt their terminals to support chip technology. 

Usually, you will be asked to sign for credit purchases and enter your PIN for debit purchases — just like you do now. However, you may not be required to do either for smaller transactions.

You can use your chip card for the same things you did your old card. Enter the card number online or swipe your card at merchant locations that do not yet have chip readers. 

You can use your chip card anywhere Visa is accepted. The terminal or the cashier will ask you to insert and leave the card in the terminal until the transaction is complete. If a chip-activated terminal is not available, just swipe your card using the magnetic stripe.

No, we’ve upgraded your card as a courtesy to our Credit Union of Colorado members. There are no new fees associated with using a chip-enabled card.

Yes, your card will work over the phone and online like it always has.

If the terminal is chip-enabled, you’ll see a message on the screen giving you instructions to insert the card in the terminal. Simply follow the terminal prompts.

Don’t worry, a prompt on the screen will ask you to swipe your card instead. 

Your card will work either way. If the merchant has a chip-enabled terminal, you will be prompted to insert your card. If the terminal is not yet chip-enabled, you will simply swipe your card.

You may either locate a network supported ATM to withdraw cash or try a different merchant to request cash back on your transaction.

Once you insert your chip debit card into the terminal, you’ll be prompted to either enter your PIN (debit) or provide your signature (credit) to verify your transaction. Both options are secure and they help protect your from fraud. Either transaction type (PIN/signature) will authorize the funds to be taken from your checking account.

Chip cards add an additional layer of security when used at a chip-enabled terminal, because the chip will generate a unique, one-time code that is needed for each transaction to be approved.

Chip cards offer the highest level of security, making it virtually impossible to counterfeit.

Yes, you can continue to use your card as you do today at ATM machines.

Some merchants will be slower to adapt their terminals to support chip technology, so cards with chips will still include a magnetic stripe for use in non-chip enabled terminals.

Contact all merchants/companies that charge your card on a recurring basis and provide them with your new chip card number, expiration date and the 3-digit security code (if the merchant requires this information).

For added security, every card, even for jointly held accounts, will have a unique card number and PIN. An added benefit to this is if one card is lost, only that card will need to be blocked and reissued, not all cards.

For members living outside the U.S., please call 650-432-2986 to activate your chip card. Do not use the activation phone number listed on the sticker attached to your new chip card(s).

No, your new chip card replaces your old magnetic stripe card. 

Call 855-477-1139 to activate your chip card and to set a four-digit PIN

Call 855-477-1139 to report a lost or stolen chip card.

If you set your PIN at the time of activation you can reset your PIN by calling 855-477-1139. If you did not set your PIN at initial activation, please call the activation line again and select “activation” (option 1). You will need to go through the normal activation steps once again then select your PIN.

Transactions post seven days a week, even when the Credit Union is closed.

Frequently Asked Questions - Chip Card | Credit Union of Colorado

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