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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.

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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

Chase Sapphire Preferred® Card

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: 16.99% - 23.99% Variable APR
    • Cash Advance APR: 25.99%, 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®
    • 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 annual fee of $0 for the first year, then $95, and no foreign transaction fees.

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

Blue Cash Preferred® Card from American Express

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 at U.S. supermarkets
    • Sign-up bonus

    Cons

    • Has annual fee — but if you spend more than $31 per week at U.S. supermarkets, the rewards offset the fee
    • American Express isn’t accepted at as many merchants as Visa or Mastercard
    • No 0% APR period
    • $25 minimum redemption

    Annual Fees

    $95

    APR

    • APR: 13.99% - 24.99% Variable APR
    • Penalty APR: 29.99%, Variable
    • Cash Advance APR: 26.24%, Variable

    Bonus Offers

    $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

    Intro APR

    • 0% on Purchases and Balance Transfers for 12 months
  • Additional Information
    • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
    • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) – that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
    • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
    • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 13.99% to 24.99%.
    • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
    • $95 annual fee.
    • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
    • 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 select U.S. department stores, and 1% back on everything else. The card also comes with a cash sign-up bonus: $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.

The foreign transaction fees are 2.7%.

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 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 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 $95 and no foreign transaction fees.

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

Discover it® - Cashback Match™

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: 11.99% - 23.99% Variable APR
    • Cash Advance APR: 25.99%, Variable

    Bonus Offers

    Discover will match ALL the cash back earned at the end of your first year, automatically.

    Intro APR

    • 0% on Purchases and Balance Transfers for 14 months
  • Additional Information
    • INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
    • Earn 5% cash back at Amazon.com and Target now through December 2017, on up to $1,500 in purchases when you activate. Plus, 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 free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
    • New! Receive FREE Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
    • 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 11.99% - 23.99% 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.