Financial Musings of a Burbank CPA: The way you use your credit card will start to change

Hey, there is going to be a change in your credit card soon.  They are going to put a chip in its brain (kind of like chipping your dog, except this will help prevent fraud.)  See this post in Business Insider by Kathleen Elkins for more info on how these new cards will change the way you pay for items:

www.businessinsider.com/why-the-us-is-adopting-emv-technology-2015-9

You will no longer swipe your card so the magnetic strip gets read.  Now you will ‘dip’ the chip to have your card read.  It will dramatically prevent cards being cloned and stolen that way.  The problem is it will be some time before all the card readers in stores will be updated to read the chips, but eventually there will be a new level of security here.

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