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Credit card signatures: Useless?
SpaceAdmiral writes "Everyone should remember John Hargrave's classic Credit Card Prank on Zug. He tried signing fake names on his credit card receipt, and no one seemed to care.
But that's nothing compared to The Credit Card Prank, Part 2. Can he draw obscene pictures instead of signing his credit card? Yes, it turns out. Is there any way of getting your signature checked? . . . Yes, it turns out. But you have to do an awful lot."
I write in "SEE ID" and then my signature next to it on my credit cars. I then say thank you to the cashiers who check my ID.
I know it isnt a lot, but it helps me feel a little more comfortable that had I been a criminal trying to get a bad credit card accross I would have been foild.
Then you have Wal Marts and such that you swipe the card yourself.... ugh.
If you don't vote, you don't matter, so don't waste your time telling me your opinion
But as this article is proving is "no you don't have to have talent to forge".
And smart cards you're talking about are WAY better than what we have here [america]. First off, having the card doesn't net you anything. You need the pin to get it todo anything.
Second, the reader doesn't get anything useful off you. This stops magreader thieves from stealing your card info.
Third, you actually need the pin to make it work.
I think guessing a 4 digit pin is harder than writing "shamoo" on a receipt...
Tom
Someday, I'll have a real sig.
Writing 'See ID' on your card is an excercise in retardedness more than anything else.
The signature panel is not there to prove your identity... its there to show that you agreed to the terms of the cardmember agreement. (ie you agree to pay) It has NOTHING to do with your card's security.
When you sign a credit card draft, it says something to the tune of "I agree to adhere to the terms of the previously agreed to cardmember agreement". Your signing the card signals that you agreed to adhere to that agreement.
Its an outdated and silly mechanism that still exists because the precise meaning of electronic signatures still varies in some jurisdictions.
Conformity is the jailer of freedom and enemy of growth. -JFK
I know everyone in concerned about credit card security, but please consider:
1 - Don't just write "see id" on the signature line of your card. Most people don't realize that credit cards are transferable. That is why they almost always contain the phrases "NOT VALID UNLESS SIGNED" and "AUTHORIZED SIGNATURE". If you fail to sign your card, then the person who steals it will just sign it for you. It doesn't matter if the signature matches the name on the front of the card. It only matters if the signature on the back matches the signature on the receipt. If writing "see id" on the back of your card makes you feel safer, great, but please remember to also sign the card.
2 - If you want someone to check your ID when you sign your card, please hand it to the cashier with your credit card.
3 - The security of your credit cards is primarily your concern not the concern of the cashier. I assure you that someone who refuses payment to some yuppie that forgot their driver's license would almost assuredly be reprimanded when that same person calls in to complain. And they WILL complain. People are not reasonable. YOU may be, but trust me, not everyone is as understanding as you are.
Cheers!
-Pointed Stick
Uhmm. DUH?
The the pin is not stored on the card. You can copy the card as much as you want, but it won't be of any use as long as you don't have the pin.
The pin could probably be read with interference, but that'd require some hefty equipment. That's not something your ordinary wallet-thief will have access to.
Except the signature line on the back of your card isn't there for authentication purposes. It's your acceptance of the card holder agreement. Merchants are not supposed to accept a card that does not have a signature on the back of the card.
If you're keeping your life savings in a savings account, let me tell you, you're losing a lot of money every year, because inflation is approximately 4%. Check the laughable interest rate that any bank gives you. Don't be surprised if it's something like 0.2%
You should keep your life savings in bonds, funds or stocks, not savings accounts. An indexed fund gives, very roughly, about 10% annually.