Credit card PIN

[u0206397]

Does PIN for credit card exists? What is it used for?

I don't remember being issued with a PIN for my credit card, and never prompted for it when making payments at cashiers or online. At most online only asks for CVV code.

Asking because I heard about it. Is it because they link their credit cards to a bank account and use it like an ATM card?

 

[arigatoast]

Does PIN for credit card exists? What is it used for?

I don't remember being issued with a PIN for my credit card, and never prompted for it when making payments at cashiers or online. At most online only asks for CVV code.

Asking because I heard about it. Is it because they link their credit cards to a bank account and use it like an ATM card?

Yeap. Linked CC to a bank acc. e.g Frank card.

or CCs that allow you to draw money ( something like cash advance but you are charge bank interest rate) -----> not encouraged

 

[beri stupid idiot]

Agrigatoast is right ^^

 

[xersion]

For u to withdraw money at atm... Good for overseas usage but not in local...

Sent from Xiaomi MI 4I using GAGT

 

[bluetwinkle]

Does PIN for credit card exists? What is it used for?

I don't remember being issued with a PIN for my credit card, and never prompted for it when making payments at cashiers or online. At most online only asks for CVV code.

Asking because I heard about it. Is it because they link their credit cards to a bank account and use it like an ATM card?

Other than withdrawing from ATM through your credit card advance account or through your bank account linked to the credit card, the pin may be used for credit card purchase in countries that use pin for credit purchase. I have personally use the pin to buy train tickets from the ticket booth in an unmanned train station in Italy. My credit card is linked to my bank account too but the transaction was posted as a credit card transaction.

To add on, I think all my credit cards are issued with a pin. For some cards that I am very sure I do not use the pin, I may not bother to go change it. After the incident at Italy, I will think that you ought to have the pin to your most common used cards.

 

[jaydenlabs]

Other than withdrawing from ATM through your credit card advance account or through your bank account linked to the credit card, the pin may be used for credit card purchase in countries that use pin for credit purchase. I have personally use the pin to buy train tickets from the ticket booth in an unmanned train station in Italy. My credit card is linked to my bank account too but the transaction was posted as a credit card transaction.

To add on, I think all my credit cards are issued with a pin. For some cards that I am very sure I do not use the pin, I may not bother to go change it. After the incident at Italy, I will think that you ought to have the pin to your most common used cards.

Hi, do u mean Singapore-issued credit cards also need to key in PIN when buying things in overseas?

 

[u0206397]

Other than withdrawing from ATM through your credit card advance account or through your bank account linked to the credit card, the pin may be used for credit card purchase in countries that use pin for credit purchase. I have personally use the pin to buy train tickets from the ticket booth in an unmanned train station in Italy. My credit card is linked to my bank account too but the transaction was posted as a credit card transaction.

To add on, I think all my credit cards are issued with a pin. For some cards that I am very sure I do not use the pin, I may not bother to go change it. After the incident at Italy, I will think that you ought to have the pin to your most common used cards.

If a credit card is not linked to any bank account, will there still be a PIN set by the card issuing bank? Anyone knows?

I think in certain parts of the world, it is common to have chip and PIN. But not widespread in Singapore yet.

 

[arigatoast]

If a credit card is not linked to any bank account, will there still be a PIN set by the card issuing bank? Anyone knows?

I think in certain parts of the world, it is common to have chip and PIN. But not widespread in Singapore yet.

so far ive went to Asian countries , only China requires me to key in PIN. but i told them i've no PIN and somehow the transaction went thru. the ohter countries just require me to sign on the slip.

 

[invisible999]

For u to withdraw money at atm... Good for overseas usage but not in local...

If the card is not linked to any current/savings account, I do not think it is a good idea to have cash advance.

OK, on a broader scale, you need to distinguish between following:

- Card issuing bank
- The account the card is linked to
- The network the card uses for cash withdrawal

Turn over your card and look at the logo. If you see Plus logo with Visa cards or Cirrus for MC that it means that the card can be used at any ATM which is connected to the respective network.

Now, if the credit card in addition to the credit line is linked other current/savings account at the issuing bank, one can withdraw money at ATMs form those accounts. But should be careful because some ATMs won't distinguish (or not able to) between those account types and cash withdrawal might post directly as cash advance. Good luck fighting with the issuing bank claiming that you did not do cash advance.

If the credit card is not linked to current/savings account but comes with PIN, using this card at ATMs will always result cash withdrawal posted as cash advance. Using PIN at non-ATMs, but with automated machines (like ticket selling machines) - well, your luck will vary. It might go as a credit card transaction or might as cash advance, depends on a machine's setup.

In short - unless your credit card is Chip and PIN card, you should not need to use (or better - should not use) PIN anywhere.

 

[lcpteck]

Yeah the PINs for the CCs (in our case) are for you to withdraw cash from ATM machines as cash advance (borrowing money from your CC). Not recommended unless you're overseas and you really need the cash.

 

[invisible999]

Not recommended unless you're overseas and you really need the cash.

'Really' would mean that there are no other means to get money. Why would anyone with IQ>80 get themselves in that situation on a first place?

With my overseas travel I have following rules:

1. Money belt where most cards (see below) and cash would go when you carry them around.
2. At least $50 and no more than $100 cash or equivalent in local currency to carry. $20 with small notes in the pocket with zipper, the rest - in the money belt.
3. Two credit cards - one Amex, one Visa or MC, in money belt
4. Two debit cards from two different banks, each of them no not have more than $1000 in the account. One stays in at hotel's safe with the rest of the cash, second - in money belt.

You will be fine after that.

 

[arigatoast]

Yeah the PINs for the CCs (in our case) are for you to withdraw cash from ATM machines as cash advance (borrowing money from your CC). Not recommended unless you're overseas and you really need the cash.

hmm can bring a atm card that has CIRRUS logo( i tried before SCB atm card in Taiwan) will incur some service fee ( forgot how many percent, think around 2-3%) which is much better than incur cash advance charges from bank.

 

[bluetwinkle]

Hi, do u mean Singapore-issued credit cards also need to key in PIN when buying things in overseas?

That was the first and only time where I had to key in pin. But then again I was facing a self-service ticketing machine.

 

[bluetwinkle]

If a credit card is not linked to any bank account, will there still be a PIN set by the card issuing bank? Anyone knows?

I think in certain parts of the world, it is common to have chip and PIN. But not widespread in Singapore yet.

I think the answer is yes. I usually get the pin even before I request for linking to my bank accounts.

 

[lcpteck]

'Really' would mean that there are no other means to get money. Why would anyone with IQ>80 get themselves in that situation on a first place?

With my overseas travel I have following rules:

1. Money belt where most cards (see below) and cash would go when you carry them around.
2. At least $50 and no more than $100 cash or equivalent in local currency to carry. $20 with small notes in the pocket with zipper, the rest - in the money belt.
3. Two credit cards - one Amex, one Visa or MC, in money belt
4. Two debit cards from two different banks, each of them no not have more than $1000 in the account. One stays in at hotel's safe with the rest of the cash, second - in money belt.

You will be fine after that.

Well having the CCs to withdraw cash is a very convenient. Sure there are pros and cons in every method but everybody's different and thinks differently.

 

[ceecookie]

some countries are using Chip + PIN system instead of Chip + signature, so u need to enter ur PIN when paying for stuff(i.e USA).

 

[invisible999]

some countries are using Chip + PIN system instead of Chip + signature, so u need to enter ur PIN when paying for stuff(i.e USA).

May I ask - where in USA Chip and PIN system is used?

P.S. American here.

 

[ceecookie]

May I ask - where in USA Chip and PIN system is used?

P.S. American here.

Was at various stores at seattle premium outlet when they all asked me to swipe at the terminal(located at customer's side of the table) and input my PIN. took me a while to realise they were asking for atm pin. This is Chip and PIN right?

 

[invisible999]

Was at various stores at seattle premium outlet when they all asked me to swipe at the terminal(located at customer's side of the table) and input my PIN. took me a while to realise they were asking for atm pin. This is Chip and PIN right?

They assumed that you had Debit card.

There is no Chip and PIN system in US. Period. Chip and signature started to roll up just couple years ago.

 

[acetylcholine]

Singapore-issued cards are coded as CHIP and SIGNATURE, and the PIN number that is issued is generally restricted to accessing ATM machines on the respective networks. The PIN number will not work with CHIP and PIN systems simply because the terminals do not recognise the card as a CHIP and PIN card.

Exceptions may vary (especially at self-service terminals), but most of the time you will have to sign on the charge slip after the transaction is approved. At self-service terminals with low transaction limits, such as ticket machines at metros/subways, a CHIP and SIGNATURE card may be accepted without the need to enter any PIN. It helps to bring multiple credit cards for this reason as some cards will work and others will not. For instance, I always had more luck getting AMEX-issued credit cards and my DBS Altitude card to work with self-service terminals in Europe, as compared to the UOB One card which never once worked with those terminals.