New “Safer” Sam’s Club Credit Card

You Have A Choice

At Credit Help Cards, we are dedicated to getting consumers the best credit cards. We help consumers of all financial backgrounds acquire credit no matter their credit score. Hundreds of different credit cards are available with varying interest rates, credit limits, and extra features. However, few consumers realize that these cards come with differing levels of security. Credit cards in the United States are not nearly as secure as they could or should be today.

Europe Adopted Microchips A Decade ago

In Europe, companies have embedded microchips in their credit cards for over a decade. These chips contain the payment information for that particular account. Every transaction comes with a unique authorization code that’s difficult to duplicate. For years now, European merchants have considered such a feature an apparent necessity. Security measures with these cards are more efficient in combating theft. Consumers and companies in the U.S. are now starting to take card security more serious.

Americans Used to Insecure Magnetic Strips

Most credit cards in North America contain a magnetic strip. A given account’s information is contained within this piece. Unfortunately, criminals can use various means to hack into this data and use it for nefarious purposes. Even petty criminals can access this information with relative ease. Millions of Americans fall victim to identity theft each year. Since nobody thinks twice about their security, everyone is often surprised when he or she become a victim of crime and have to fight his or her way out of a bad credit rating.

Target Security Breach a Wake-up Call for America

The recent Target breach affected millions of people who shopped at the company’s stores. Thieves modified payment terminals to transmit personal and financial information. By stealing this information, a thief could make false charges on a person’s credit card or steal their identity. Nothing about the thieves’ operation stood out as particularly fancy or intricate, either. These individuals exploited a simple security hole and caused the biggest such theft in history.

Target Tries to Adopt Microchip Credit Cards First

After the situation had come to light, Target was faced with a devastating backlash. Consumers threatened to boycott and sue the company. Even though consumers were protected from fraudulent charges, they were outraged by these events. By then, Target dedicated itself to upgrading its security protocols and implementing microchips into its credit cards. Many people assume Target would be the first retailer in the U.S. to apply the feature. The company may have found itself one-upped by a competitor, however.

However, Sam’s Club Beats Target To The Punch

Sam’s Club started offering a microchipped credit card toward the end of June 2014. In doing so, it became the country’s first retailer to accomplish the feat. Both the personal and business Sam’s Club MasterCards include the microchip. Cardholders can use these cards anywhere Mastercard is accepted. Fortunately, it features a low-interest rate and cash back. Fraudulent purchases are covered, and the added layer of security benefits consumers and retailers alike.

Obstacles in Implementing These Microchips

Specialized payment processing terminals are required to utilize the chip. Currently, most Sam’s Club and Wal-Mart locations feature such terminals. Other merchants can process these microchips at only a limited number of stores. A significant expansion of chip-reading payment terminals is expected in the coming years. In a short period, retailers will become responsible for fraudulent charges rather than consumers and banks. Magnetic strips will be phased out sooner rather than later.

Get The Information You Need From Credit Help Cards

As we mentioned before, Credit Help Cards is dedicating to helping out consumers. We help thousands of people land credit cards every day. Customers come to us for information on getting credit, improving their scores, and so much more. For worried consumers, we’ve got some helpful tips for keeping your credit cards and information secure. Following these credit card tips will help consumers feel more comfortable about using their cards in a post-Target Breach world.

Tip #1: Don’t Rely on Your Creditor or Bank to Keep You Safe

Financial institutions and creditors often offer various security solutions for their customers. These days, identity theft protection products and credit monitoring services are incredibly popular. Many of these services will alert consumers to suspicious activity on their accounts. An individual should not trust these services to monitor their accounts, however. Without a doubt, each customer should monitor their accounts and credit reports, too. Extra services cost money and aren’t always effective after all.

Tip #2: Be Wary About “Dirty” Payment Terminals

Modifying a payment terminal for criminal purposes is not that difficult. The installation process takes mere seconds for trained thieves. Therefore, consumers should inspect the payment terminals they use before sliding their cards. A dirty terminal probably hasn’t been checked too recently. Terminals with visible damage could have been modified by a thief. Before using a terminal, consumers should take a step back and make sure that nothing seems strange about that terminal. Walk away if you are uncertain about the security of a given machine.

Tip #3: Use Disposable Payment Information Online

Most credit card companies offer disposable, one-time card numbers for online purchases. By utilizing this option, consumers can hide their actual credit card information from prying eyes. These one-time use numbers are quite useful for keeping your personal information secure. Not all credit card companies offer this feature, but businesses that do likely take their customers’ security more seriously. Plus, you should always ensure that a given site uses the latest security protocols for transmitting sensitive information.

Tip #4: Avoid Companies With a Poor Security Track Record

Sure, any company can fall victim to a security breach in today’s world. Even the country’s largest retailers are not impervious to these breaches. A company that responds to these crimes with safety upgrades is worth patronizing once again. On the other hand, companies with a poor track record in the security department should be avoided at all costs. If a company does not make the right changes the first time around, then who says they’ll make the right changes in subsequent incidents?

Tip #5: Adopt a Microchip Card Now, Not Necessarily From Sam’s Club

Sam’s Club is the first retailer to offer security microchips on their credit cards. Other financial institutions give cardholders the same security feature, in any case. For instance, Citibank’s credit card holders can be upgraded to a microchipped card. Many other banks and financial institutions will do the same for clients. You are better off adopting the chip now instead of later. In doing so, you’ll find yourself protected against fraud and theft like never before.

Let Us Help You Find The Right Credit Card

Credit Help Cards is dedicated to helping consumers, and our track record proves that. If you are looking for a microchipped credit card, then use our handy search to find the best card for your needs. During your search, you can find a low-interest card with cash back or strong security features, too. We are the go-to source for credit card information and help getting the best card around. Few things stay the same in this industry, but we’ll always be around to help consumers.