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I logged into PenFed tonight and noticed this link under my Platinum Rewards account:

New! Convert to a Chip Enabled Card


Of course I accepted the new card and should get it by early next week. Has anybody else received one yet? Is this a REAL chip & pin card, unlike the Chase ones? It did ask for a pin during the conversion processes, so it sounds real to me. I was warned that by converting to the new card, I would be issued a new account number.

The option for a chip and pin card was not an option for my PenFed AMEX.

Member Summary

PenFed 'Chip Enabled Cards'
Thanks sugarrat
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Most Recent Posts
Doh, I just got back and every time I used the card, I was prompted for a signature so didn't bother trying on the under... (more)

campervanman (May. 10, 2013 @ 12:14p) |

Signature magnetic cards usually work in the underground anyway, without any sort of verification step. Train stations ... (more)

Infinion (May. 10, 2013 @ 12:17p) |

This is expected - for some reason, the card is still defaulted to use signature where possible. It should still work o... (more)

gloreglabert (May. 10, 2013 @ 12:24p) |

PenFed currently offers the chip technology on the following four credit card products in their portfolio:
  • PenFed Visa Platinum Rewards Card
  • PenFed Visa Platinum Cash Rewards Card
  • PenFed Promise Card
  • PenFed Visa Gold Card
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I'll be interested to see what it is, but chip enabled does not mean chip and pin.
I would expect a card with a chip in it. That's all.

imbatman said:   I'll be interested to see what it is, but chip enabled does not mean chip and pin.
I would expect a card with a chip in it. That's all.


I did get to select a PIN during the conversion though. I do not think it is a cash advance pin, as PenFed has never had me select one before.

I just signed up for a conversion. Here is the notice that was displayed as part of the conversion process -- it makes it sound like a true chip and pin card (rather than a chip and signature card) but I guess we'll have to wait and see:
Switching your PenFed Platinum Rewards - XXXX card to a chip enabled card will require PenFed to send you a new account number and card. You will also be asked to create a Personal Identification Number (PIN) linked to your account before your new card can be mailed to you. Many international merchants will require you to enter this PIN in order to complete a transaction. Please note that there will be no changes to your current card terms, fees, APRs, or benefits.

Later in the process it's described as a "security chip & PIN card."

It's specifically designed to work with international merchants that use chip and pin readers

SUCKISSTAPLES said:   It's specifically designed to work with international merchants that use chip and pin readers

But so are the chase and AMEX cards, even though they are only chip & signature.

mmm Chip card. What is preventing me from eating it? Maybe the PIN

Thanks. Just made the request for both PenFed cards I have

Does PenFed charge a currency conversion fee when charges are not in US dollars?

sugarrat said:   I was warned that by converting to the new card, I would be issued a new account number.



Check your credit report after this is done. I did a refi a year after Penfed issued me a card number and my lender wanted to know why I had two cards with 25000+ balances (my Penfed card has a 2.9% for life balance) - they were somehow double reporting the balance owed to the Credit Reporting Agency

bippie said:   Does PenFed charge a currency conversion fee when charges are not in US dollars?

No it does not. That was a change made late 2011.

http://www.nerdwallet.com/blog/2011/penfed-foreign-transaction-f...

https://www.penfed.org/platinum-rewards/

PENFED WEBSITE said: Earn 5 points per dollar spent on gas purchases paid at the pump*
Earn 3 points per dollar spent on supermarket purchases*
Earn 1 point per dollar spent on all other purchases*
No annual fee
No foreign transaction fee
0% APR promotional balance transfer rate for 18 months on transfers made between January 1, 2013 and March 31, 2013. After March 31, 2013, the APR for new balance transfers will vary with the market based on the Prime Rate, and is currently 9.99%. A balance transfer fee of 3% (Min. - $10, Max. - $250) per transaction applies. This transaction is subject to credit approval

Nice! Thanks OP. I see that conversion option under https://online8.penfed.org/PenFedOnline/Forms/OtherServices/Chip...
I have a PenFed Platinum Rewards card (Visa).

Too bad they are't doing a 2 stage authenication yet. USB hasp or key + password. Would be nice to see banks start to adopt this for accounts you want to have the extra safety.

Does the protection the CC offers you stay the same with chip & PIN? I mean, I have had fraudulent uses of my CCs a couple of times and it was a simple process to report and not have to pay for the fraud. With chip & PIN cards does this process stay the same or are they considered "safe" so the blame for fraud shifts to the customer? If it's the latter, given that the cards are definitely not fraud-proof, I would stay away.

Just requested my cash rewards card to be converted to C&P. Will be nice not to have to explain to merchants in Europe how to swipe a US card. Will also be nice to unmanned train stations and such that sometimes don't have swipe capabilities.

Infinion - did you have to call in to convert, I have a cash rewards card (not the platinum rewards) and I don't see a link to convert to C&P. Would love to have it before our Europe trip this summer....

TheKa said:   Infinion - did you have to call in to convert, I have a cash rewards card (not the platinum rewards) and I don't see a link to convert to C&P. Would love to have it before our Europe trip this summer....

No, It took the request online. I have the platinum cash rewards, but I think all their Visa cards will work. On the home page, I clicked the blue '+' sign just to the left of the 'VISA Platinum Cash Rewards'. That expands the view, and to the right side of the box is a section called 'Additional Account Options' Look at the bottom of that list for 'New Convert to a Chip Enabled Card' link. Put in your pin # and it tells you they'll send it out on a few days.

Also to notice, is the online travel notification page that appears to be new also. That's something I've always liked about CitiBank. You don't need to call in to add travel notifications, just do it from the online form thing. Hopefully Penfed's works just as well, I'll try in soon the next time I leave the country.

Thanks for the heads up. I just requested one as well. This will come in handy for international travel.

Perfect timing, traveling to Europe in a couple months and hadn't thought to look into this.

From the looks of it, I think it's chip and PIN. That's an anomaly. U.S. card issuers seem comfortable just issuing chip and signature at this point.

I just got a new Platinum Cash Rewards Card and selected the chip & pin option at sign up.

Card has the chip but haven't been out of the country yet to verify the pin vs. signature

It's definitely a chip and PIN card.

I would be interested to hear if this is a true chip & pin card--some of the US issued cards from other banks are called "chip & pin," but they default to chip and signature (which is not accepted everywhere).

The concern issued about shifting the "blame" when a card is used fraudulently is a real concern. Flyertalk has a long discussion about that.

Infinion said:   Just requested my cash rewards card to be converted to C&P. Will be nice not to have to explain to merchants in Europe how to swipe a US card. Will also be nice to unmanned train stations and such that sometimes don't have swipe capabilities.

I didn't understand why my credit card would not work at self-service gas stations in France until I did research after returning home. I've only encountered problems occasionally but they've always been at inconvenient times - the gas stations, self-service ticketing machines at train stations, and a pharmacy in Copenhagen. PenFed will now be the card I use in Europe and those frustrations should be history.

bippie said:   Infinion said:   Just requested my cash rewards card to be converted to C&P. Will be nice not to have to explain to merchants in Europe how to swipe a US card. Will also be nice to unmanned train stations and such that sometimes don't have swipe capabilities.

I didn't understand why my credit card would not work at self-service gas stations in France until I did research after returning home. I've only encountered problems occasionally but they've always been at inconvenient times - the gas stations, self-service ticketing machines at train stations, and a pharmacy in Copenhagen. PenFed will now be the card I use in Europe and those frustrations should be history.


That's right. I usually don't have too much trouble in Europe. Sometimes, if I'm in a less-touristy place, I might have to explain to a young front line merchant that they need to go get the swipe machine. Usually I'm just going to use cash though. But, when there's a problem, is when you really need it to work (need a train ticket, need gas at night, etc) and there's no one around to help you.

Infinion said:   bippie said:   Infinion said:   Just requested my cash rewards card to be converted to C&P. Will be nice not to have to explain to merchants in Europe how to swipe a US card. Will also be nice to unmanned train stations and such that sometimes don't have swipe capabilities.

I didn't understand why my credit card would not work at self-service gas stations in France until I did research after returning home. I've only encountered problems occasionally but they've always been at inconvenient times - the gas stations, self-service ticketing machines at train stations, and a pharmacy in Copenhagen. PenFed will now be the card I use in Europe and those frustrations should be history.


That's right. I usually don't have too much trouble in Europe. Sometimes, if I'm in a less-touristy place, I might have to explain to a young front line merchant that they need to go get the swipe machine. Usually I'm just going to use cash though. But, when there's a problem, is when you really need it to work (need a train ticket, need gas at night, etc) and there's no one around to help you.


yeah in france you'll be at the checkout for a grocery store and they will say they don't accept it... well they do its just they have to manually put in the info (which they couldn't be bothered or weren't trained to do). so you end up paying cash/euro to not look like a jerk. if you are going to europe and can convert to this chip and pin card with one click... DO IT.

Dear SESAT,

On 2/1/2013, you requested to have your current credit card ending in 69 replaced with a chip enabled card.

You will receive your new card within 5-7 business days.

If you did not authorize this request or if you feel you are receiving this email in error, please contact PenFed immediately at 800-247-5626. Overseas members can contact us toll-free from any on-base Class A DSN line at 510-376-7328. Member Service Representatives are available seven days a week.

If you have any questions, please contact us toll free at 800-247-5626 or by e-mail at Info@hq.penfed.org.

Thank you for allowing us to serve your financial needs.

Sincerely,
PenFed Card Services

There has been some talk on Creditboards that one of USAA Savings Bank's MasterCards is now available with chip and PIN, with more cards to follow.

noob question, do the chip and PIN cards still have the magnetic strip to swipe in the USA or how does that work?

nwill002 said:   noob question, do the chip and PIN cards still have the magnetic strip to swipe in the USA or how does that work?

Yes. It will be a very long time until magnetic strip readers are phased out.

Thanks for the post, wouldn't have discovered if not posted here

This is great as I'm traveling to Europe later this year. I've read all the horror stories about kiosks and toll booths that don't support non-chip & pin cards. Even in Canada I can't even use pay at the pump with my stupid card.

Travelex sells a prepaid chip and pin card at most airports (they are at the currency exchange )

Yes there's fees but no need for any "horror stories " it's simply a little extra charge

steve1jr said:   sugarrat said:   I was warned that by converting to the new card, I would be issued a new account number.



Check your credit report after this is done. I did a refi a year after Penfed issued me a card number and my lender wanted to know why I had two cards with 25000+ balances (my Penfed card has a 2.9% for life balance) - they were somehow double reporting the balance owed to the Credit Reporting Agency



How did you get 2.9% for life?

Got my card. Works as expected in the US. This will be my card of choice when traveling due to no foreign transaction fees, plus chip & pin. Thanks PenFed!

Argyll said:   steve1jr said:   sugarrat said:   I was warned that by converting to the new card, I would be issued a new account number.



Check your credit report after this is done. I did a refi a year after Penfed issued me a card number and my lender wanted to know why I had two cards with 25000+ balances (my Penfed card has a 2.9% for life balance) - they were somehow double reporting the balance owed to the Credit Reporting Agency



How did you get 2.9% for life?

That was penfed bt promo a couple years back
Now it's 18 months

It looks like from this search link that the card comes automatically to select card holders. True?

https://www.penfed.org/Chip-Technology-Now-Available-On-Select-PenFed-Credit-Cards/

Are there any credit cards with chip/pin & no foreign transaction fees?

oradbatic said:   Are there any credit cards with chip/pin & no foreign transaction fees?

Umm, cards from the very issuer being discussed in this thread

Skipping 57 Messages...
campervanman said:   

Doh, I just got back and every time I used the card, I was prompted for a signature so didn't bother trying on the underground...


This is expected - for some reason, the card is still defaulted to use signature where possible. It should still work on automated kiosks that will only work with a PIN.



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