Originally Posted by
lin821
It's always my understanding that the verification of legit cc usage, i.e. fraud prevention, is to check both ID and signature for in-store purchases (even though in practice, not every merchant checks ID, let alone signature on the back panel

). For the newer cards with chips or transmitters (Chase Blink...), the requirements may be different. I am not sure if the terms on the cc have specified the signature requirement. However, all the recordings I hear after activating a new cc over the phone keep telling me to remove the stickers and sign the cards. I have no idea you can get away with signatures.
A merchant may NOT ask for ID as long as the card is signed. If the card is not signed, the merchant should ask for an ID, verify the name and ID match, have the customer sign the card, then accept the transaction. The retailer for which I work has drilled this into our heads a lot recently.
We used to ask for ID on things >$500, but that is apparently not allowed under Visa/MC/AMEX rules.