Top 2 Bottom Credit Card Guide

From Valentines Day (14th February) 2006 a signature is not good enough for a person to purchase goods from within the UK using your current debit or credit cards. Chip and PIN technological innovation has existed for years, nevertheless before now it offers continue to been an option that you could sign for your credit card transaction. Now, however, of which luxury has been obtained away. No longer will a signature be sufficient proof that the credit card you are using is yours. If you personal a debit or credit score card you must now know your PIN quantity or else you won’t be able to use your own card.

Card fraud is a big problem in the world nowadays, but this new technology has significantly lowered card fraud. It will be estimated that 80% of retail transaction in the UK are now paid for by simply card. This isn’t due to the fact more and more people are receiving credit cards, it can because more and even more people are becoming a charge card with their lender account and taking advantage of this debit card instead of cash any time shopping.

Most new bank accounts nowadays offer free of charge debit cards when a person open your bank account. Barclays bank (one of typically the UK’s biggest banks), with regard to instance give you a new free debit card with their current account ( ) and their fresh High Interest Savings Account ( ). This credit card is a great profit, as it means that will you don’t have to carry cash around with you, so when crossed along with an account that gives a person a good interest level, you can have a very beneficial addition to your handbag or wallet.

For anyone that don’t already make use of a charge card; it is simply the same as your “hole in the wall” bank cards, but also may be used such as a credit card within stores when paying for your shopping. The good thing about typically the debit card is it provides you access to your own own money, without a person having to get credit rating and get in in order to debt. Whenever there is usually no money in your you can’t use your own debit card – this curbs your spending and thwarts your ability to be able to spend more than you can afford.

The problem in the past with debit cards was that if a person lost it someone could easily utilize it in a store with your forged signature, potentially giving all of them access to all of your funds. Now that chip n pin has become compulsory it means that the thief are unable to use your card in a store without knowing your PIN. This can make your card a lot more secure. The only thing remaining is to remember you PIN (Personal Identification Number) and never to be able to write it down plus store it anywhere around your debit card.


All information contained inside this article, is perfect for common information purposes only and should not be interpreted as advice under the Financial Services Act 1986.

You are strongly advised to take appropriate specialist and legal advice prior to entering into any binding contracts.