Traveling out side of the U.S. An important precaution.
The recent compromising of shoppers' credit cards at our Target stores has led to my greater awareness of American laziness and ineptitude in the matter of credit/debit card fraud. I have learned that American businesses and banks still rely on the old fashioned magnetic strip on credit and debit cards. This makes them very vulnerable to fraud. The rest of the world (see Forbes Magazine quote and chart below) has long since moved to the more secure "Chip and Pin", or EMV technology. In fact, some American travelers are discovering that their credit cards will be rejected for point of sale transactions (gas, hotel, travel, retail stores etc.) (see Wikipedia article below). God willing I'll be traveling outside the U.S.A. later this year. With that in mind I contacted the administrator of my Visa card, the Bank of America. To my intense comfort I learned that B of A is one of the few Financial institutions which will issue a chip an...