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NerdWallet’s Best EMV ‘Chip With Signature’ Credit Cards

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Best EMV Chip Credit Cards

If you’ve gotten a new credit card recently, you may have noticed it has a tiny microchip embedded in it. This is an EMV chip, and you’ll likely see one in each of your cards soon. But don’t worry, this is a positive change: EMV chips make your point-of-sale transactions more secure and allow you to pay for goods and services at chip-only terminals.

Read on to learn all about EMV technology, as well as our favorite chipped cards.

What EMV is and why it matters

Europay, MasterCard and Visa developed these chips to make transactions more secure. Instead of processing limited data like a magstripe card, EMV technology allows dozens of pieces of non-static information to be transferred between the card, the terminal and the financial institution that processes credit card transactions for the merchant.

Chip technology mostly eliminates the risk of credit card skimming, a common practice for thieves committing credit card fraud. Fraudsters use a card-reading device to skim credit card information from a traditional magstripe card and load it onto a prepaid card. However, with an EMV chip, the card’s many pieces of data change for each transaction. Therefore, any skimmed information would be useless for the thief.

EMV cards have two major card verification methods: chip-and-PIN and chip-and-signature. Chip-and-signature — which allows you to verify your identity with a signature — is the most popular method in the U.S. due to its low cost and ease of use.

Chip-and-PIN cards, which are verified by a four- to six-digit PIN, are more widely used in Europe. Because it’s more difficult to replicate a PIN than a signature, chip-and-PIN cards are thought to be more secure, and certain overseas merchants only accept PIN-capable cards. If you’re planning on traveling internationally, you may want to consider a card with a PIN.

If your credit card isn’t chipped yet, it likely will be soon. In October 2015, a policy change called the “liability shift” placed responsibility for fraudulent transactions on issuers that don’t issue chipped cards and merchants that don’t use EMV readers

Previously, issuers alone were typically liable for credit card fraud, but now the blame goes to whichever party isn’t EMV capable, or it will be shared if both parties neglected to update. So while neither issuers nor merchants are being forced to upgrade to EMV technology, they have a strong financial incentive to do so.

Recommended EMV cards

If you’re in the market for a chipped card, here are some of our favorite options:

Best for travel optimizers: Chase Sapphire Preferred® Card

https://www.nerdwallet.com/lib/redirect.php?name=Chase-Sapphire-Preferred&uv=83VGLZLxMQQuvf9MN8ibwBct6arJ1E1kmfG0gBuC5ZviKDQ1WjFQs1lb5KBtaacO%2BN27MW4sJfLy8VOgD6XPnaPcjflDvw%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=3098

Chase Sapphire Preferred® Card

Apply Now on Chase's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • A large bonus
    • No foreign transaction fee
    • Cool factor - metal card
    • Earn more points on travel and dining at restaurants
    • Premium travel protection benefits

    Cons

    • $0 intro annual fee for the first year, after that $95 per year

    Annual Fees

    $0 for the first year, then $95

    APR

    • APR: 16.49% - 23.49% Variable APR
    • Cash Advance APR: 25.49%, Variable

    Bonus Offers

    Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®

    Intro APR

    • N/A
  • Additional Information
    • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
    • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
    • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
    • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
    • No foreign transaction fees
    • 1:1 point transfer to leading airline and hotel loyalty programs
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
    • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

Travel enthusiasts with a penchant for a good deal will love the Chase Sapphire Preferred® Card. It gives 2X points on travel and dining, and 1 point on every $1 spent on everything else. There’s also a sweet sign-up bonus: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®.

A point is only as good as its value. In this case, a point is worth 1.25 cents (the industry standard is 1 cent) when used to book travel through the Chase Ultimate Rewards website. You can also transfer your points to one of Chase’s partner’s frequent flier programs. If you’re mile-savvy, you may be able to get an even better deal this way.

The Chase Sapphire Preferred® Card has an $0 for the first year, then $95, and no foreign transaction fees.

Best for cooks & commuters: Blue Cash Preferred® Card from American Express

https://www.nerdwallet.com/lib/redirect.php?name=American-Express-Blue-Cash-Preferred&uv=83VGLZLxMQQuvf9MN8ibwBct6arJ1E1kmfG0gBuC5ZviKDQ1WjFQs1lb5KBtaacO%2BN27MW4sJfLy8VOgD6XPnaPcjflDvw%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=1114

Blue Cash Preferred® Card from American Express

Apply Now on American Express's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • Leading cash back rewards for groceries at US supermarkets
    • Sign-up bonus
    • 0% APR for 12 months on purchases and balance transfers

    Cons

    • Has annual fee - but if you spend more than $31/week the rewards offset the fees
    • American Express isn’t accepted at as many merchants as Visa or MasterCard

    Annual Fees

    $95

    APR

    • APR: 13.74% - 23.74% Variable APR
    • Penalty APR: Up to 29.99%, Variable
    • Cash Advance APR: 25.99%, Variable

    Bonus Offers

    Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Earn $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. Terms Apply.

    Intro APR

    • 0% on Purchases and Balance Transfers for 12 months
  • Additional Information
    • Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back.
    • Plus, earn $150 back after you spend $1,000 in purchases on your new Card within the first 3 months.
    • Everyday Cash Back: 6% at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 3% at U.S. gas stations; 1% on other purchases. Terms and limitations apply.
    • No rotating reward categories. No enrollment required.
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. You can only earn cash back on eligible purchases.
    • $95 Annual Fee. 0% intro APR on purchases and balance transfers for 12 months, then a variable rate, currently 13.74% to 23.74%, based on your creditworthiness and other factors.
    • Terms Apply.

Home cooks and frequent drivers will appreciate the extra rewards provided by the Blue Cash Preferred® Card from American Express. It offers 6% back on U.S. supermarket purchases (up to $6,000 spent annually), 3% back at U.S. gas stations and certain department stores, and 1% back on everything else. The card also comes with a cash sign-up bonus: Limited Time Offer: Apply by 5/3/17 – Earn 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Earn $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. Terms Apply.

The Blue Cash Preferred® Card from American Express has a $95 annual fee and foreign transaction fees of 2.7%. The card has an introductory APR offer of 0% on Purchases and Balance Transfers for 12 months, and then the ongoing APR of 13.74% - 23.74% Variable APR.

Best for flexible fliers: Capital One® Venture® Rewards Credit Card

The Capital One® Venture® Rewards Credit Card is a great card if you want to book travel your way. It offers 2 miles on every dollar spent, plus a sign-up bonus: Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months of approval, equal to $400 in travel. You can use your miles to book travel through the Capital One platform, or use the Purchase Eraser feature to get a statement credit for travel booked elsewhere.

The Capital One® Venture® Rewards Credit Card has an annual fee of $0 for the first year, then $59 and no foreign transaction fees.

Best for online shoppers: Discover it® - Cashback Match™

https://www.nerdwallet.com/lib/redirect.php?name=Discover-It&uv=83VGLZLxMQQuvf9MN8ibwBct6arJ1E1kmfG0gBuC5ZviKDQ1WjFQs1lb5KBtaacO%2BN27MW4sJfLy8VOgD6XPnaPcjflDvw%3D%3D&clickHeader_category=Credit%20Card&clickHeader_productId=6043

Discover it® - Cashback Match™

Apply Now on Discover's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • Cash back match at the end of your first year
    • Bonus cash back categories
    • No annual fee
    • 0% on purchases for 14 months and 0% on balance transfers for 14 months

    Cons

    • Slightly less merchant acceptance for Discover in US - acceptance outside of US can be an issue
    • If you value simplicity, a flat rate cash back card may be better

    Annual Fees

    $0

    APR

    • APR: 11.49% - 23.49% Variable APR
    • Cash Advance APR: 25.49%, Variable

    Bonus Offers

    Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.

    Intro APR

    • 0% on Purchases and Balance Transfers for 14 months
  • Additional Information
    • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
    • Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time you activate. Plus, unlimited 1% cash back on all other purchases.
    • Redeem your cash back for any amount, any time. Cash rewards never expire.
    • 100% U.S. based customer service.
    • Get your FICO® Credit Score for free on monthly statements and online.
    • No annual fee.
    • Click "APPLY NOW" to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details & other information.

Frequent online shoppers should check out the Discover it® - Cashback Match™. It offers 5% back on rotating bonus categories on up to $1,500 spent each quarter, and 1% back on everything else.

This card is great for online shoppers for two reasons. First, the bonus categories in the fourth quarter historically include online purchases, so you may be able to get 5% back on up to $1,500 of online spending between October and December. Second, the Discover Deals bonus mall is one of the best in the industry. It offers 5% to 20% back at more than 200 online retailers.

The Discover it® - Cashback Match™ has an annual fee of $0 and no foreign transaction fees. There’s an introductory APR of 0% on Purchases and Balance Transfers for 14 months, and then the ongoing APR of 11.49% - 23.49% Variable APR.

How to use your EMV credit card

The process for using an EMV credit card is different than using a magstripe card, but you’ll catch on quickly. Instead of swiping, insert your card into the terminal and leave it there. Then follow the prompts of the terminal screen and wait to remove your card until the receipt begins printing. Just be careful not to leave your card behind.

It may take some time to get used to using your EMV card, but the extra security the card provides will be well worth the transition from swiping to “dipping.”

Last updated Dec. 2, 2016. 

Erin El Issa is a staff writer at NerdWallet, a personal finance website. Email: erin@nerdwallet.com. Twitter: @Erin_Lindsay17.


Image via iStock.