jacquesrules

Hey !
I've just received my new RBC classic card, it's a replacement fort my old one which expired. Weird thing is that this no-fee credit card has a CHIP on it! How bizarre, my aerogold infinite doesn't have one and it's a 120$ travel card.

I'm looking to cancel this card since I'm not using it and maybe sign up for the Avion afterwards. Anyone think they could maybe offer me a retention offer although I haven't been using it much??

The Ivory Actuary

Looking to cancel your Aerogold Infinite or your RBC Classic?

If you meant the classic card, why not just ask RBC to switch it over to a RBC Avion card and voilŕ!

As well, I'm not sure what they would be willing to offer to retain you as an RBC Classic cardholder, seeing as it's a no-fee card.

jacquesrules

haha I've just called and they're giving me 15$ off the Avion annual fee. I bargained for a moment but she wouldn't move.
I think it's fair, I was thinking of getting it anyway!

The Ivory Actuary

Just for this year, or ad Infinitum?

jacquesrules

Just for this year, but be sure that I'lll call back in 11 months to try to get a free year!

guessaaa

Called into RBC card services and ordered a new chip version of my student card

robsawatsky

All credit-cards issued by VISA and MASTERCARD will have CHIP&PIN technology in about 2 years. Merchants will be required to have CHIP&PIN capable terminals by about the end of 2010 or have their liability for fraud increase. Right now there is only a trial where CHIP&PIN technology is in place around Kitchener-Waterloo (PIN entry is actually enabled) whereas other terminals in Canada can read the CHIP they aren't enabled to accept the PIN. Likewise, CHIP cards issued in Canada don't require and aren't enabled to verify with a PIN in Europe.

VISA has mandated that its card issuers start the roll-out of CHIP cards to existing card-holders this year. MASTERCARD is only stating that it will be introducing CHIP&PIN through all its card issuers and major payment processors by 2010.

jacquesrules

I'm just amazed how RBCs student card gets the chip before CIBC's 120$ card.

CXYYZ

Look at it the other way around. Who do you want to **** off less should something go wrong with the new technology, the student cardholder or the 'premium' cardholder?

Since Aerogold is said to be the most profitable credit card in the country, I'd say you're not going to want to get those cardholders any more mad than they already are.

mikeycanuk

This is from an insert with updated cardholder agreement (that revolves mostly about the PIN #) that I recieved in my latest CIBC Aerobiz statement. Seeing how many people (idiots IMO..why use debit??) get scammed with stolen pins on their debit cards I don't see this doing much. All you need to get the PIN is intercept the cord for the visa machine.

tomh009

Sure you could steal a PIN code as easily as you can today (and conversely protecting against PIN theft is as easy as today). But the PIN code will only work with the chip -- so the thief would need to get your physical card as well. Simply reading and duplicating the magstripe content (as might be done by a thief today) is not sufficient as the PIN code is verified by the chip.

PointWeasel

The new RBC Avion that I received a couple weeks ago obviously has the chip in it but I have been amazed at the number of merchants that are inserting the card in the chip end of their POS machine but then still ask for a signature after I enter my PIN - it would seem that alot of training is still needed out there.

jacquesrules

I actually haven't been to a store with a chip reader, only swipe types!!!

robsawatsky

The PIN isn't transmitted from the terminal in "clear" form, it will be encrypted; exactly how I don't know, but it certainly uses the CHIP as part of the encryption and verification process, which is why the card must be left in the terminal until the transaction completes. However, I've already read how in Europe some terminals have been modified internally to capture enough info to potentially circumvent the system.

Merely copying the magnetic stripe and visually stealing the PIN won't do with these cards.

robsawatsky

I've been to several merchants that have a CHIP reader equipped terminal but none that accept a PIN yet. Didn't know that the PIN system was enabled for credit-cards outside of the small test area yet. And, as far as I know, many card and merchant agreements still don't let allow for a transaction without a signature even if some systems are now able to accept the PIN.