Quaker Oats Credit Union’s MasterCard credit cards have a fixed interest rate as low as 10.99% APR. There is no annual fee and a 25 day interest free grace period on purchases. Payments are only 4% of your balance each month or a minimum of $10.00 per month.
How is a chip-enhanced card different from a magnetic stripe card?
A chip-enhanced card contains an embedded microchip. The chip holds encrypted information, making it extremely difficult for the card to be copied or counterfeited. Rather than swiping the card, you will insert your card into a chip-enabled terminal to complete a transaction. In addition to the embedded microchip, the chip-card has a magnetic stripe on the back, and purchases can still be made by swiping the card at merchants that have not yet switched to chip-enabled terminals.
Are chip cards new?
Although chip cards are relatively new in the U.S., they have been used in other countries for many years. In some countries, particularly in Europe, chip cards are the standard.
Why was my card replaced with a chip card?
Where can I use my chip card?
Use your chip card at the exact same merchants you do now, by inserting the card into terminals that are chip-enabled or swiping your card at merchant locations that have not yet switched to chip-enabled terminals. You can also continue to use your card as you do currently for online and telephone payments.
How do I make a transaction?
When making a transaction with your chip-enhanced card, it’s important to leave the card in the terminal until the transaction is complete. (If you remove the card too soon, the transaction will end and your purchase will not be processed.)
At restaurants, a portable terminal may be brought to your table. (Remember, if a chip terminal is not available, you will still be able to make purchases by swiping your card and signing the receipt.)
What are the benefits of a chip card?
How do I know if my card can tap to pay?
Cards that have tap and pay capabilities have this symbol on the front or back of the card:
For smaller-dollar amount purchases, you can tap your contactless card to pay at merchants that have the following symbol on the terminal:
If a merchant does not have this functionality, you will need to insert the card into the terminal and follow the prompts to complete the transaction.