Originally Posted by
grouse
You may view the signatures as having no benefit for you, but Chip and PIN has a negative benefit. With signatures, the card issuer is on the hook for any fraud, but with Chip and PIN *you* (the cardholder) are.
The signature system (esp in the US, where the clerks don't even pretend to look at the signature or sex on the card) offers essentially no security - if you have the card, you can spend as much as you want. The cardholder ends up paying for this through higher costs in any case.
Besides, you could still have Chip & PIN with the issuer bearing the risk.