Soon Canadian CC will be "chipped"
 

Very happy to report that Canadians will from now on be recievcing credit cards that are micro chipped, much easier to use in many places in Europe. As it is now, you can still use the magnectic strip ones in most places, but most machines and ticket kiosks will only accept micro chipped cards.

It said in our paper that America was still not coming onboard with micro chipped cards, but I think I have read that some Americans do already have them, so I am a bit confused on that? Is it only an option as yet, ?

It is hard for American banks to chip their cards when they are being hacked to pieces.

HmmM , yes perhaps talking about any sort of credit is not such a good idea right now,, what with all the blood..

PS I am sorry , but I have to say this,, but why were people stupidly buying things they could not afford,, I mean who is dumb enough to buy a huge house with NOTHING DOWN,, I cannot get over that,, I mean , I thought everyone was taught to save and have at least 20 % down,, guess I came from another generation.

I do realize that is over simplfying the issue,, but I was just watched one of those " help sell my home' shows on the realestate chanel, and these people had nothing down,, no equity,, I never heard of something so silly.

People bought houses under those conditions because (a) they were desperate for a house, (b) banks were convinced, and assured them, that the value of the house would increase, and (c)the real estate market over several years increased at a rate that reinforced that belief.
Then the wheels fell off the bandwagon, but house buyers cannot be blamed for not foreseeing impending financial disaster, when none of the banks, nor the independent pundits, nor regulatory government authorities,could foresee it either.

It's simple financial illiteracy to blame the borrowers for using no-deposit mortgages.

If house prices are going up, it's not feckless or foolish to use your income to buy a house rather than pay rent while having to save for a deposit. It's the most sensible option around.

Anyone taught otherwise was simply taught wrong - or hasn't learned since childhood that the world changes.

What was wrong with no-deposit mortgages was that they're an absurdly dangerous risk for the lender. For borrowers, making the most of the banks' stupidity and accepting such mortgages was in almost every case the wisest and most prudent thing they could possibly do.

Not that I agree with the idea, but those who didn't put any money down didn't really lose anything. The lenders lost. It's the ones who put 10 or 20% down on a 500,000 home that is now 300,000 (at least in the Florida market). These are the people who are hurting now.
Pat

Gee flanneruk ,, I may be a " financial illiterate"( and a bad speller) , but got my first house with hubby at 26,, now own many more, and will retire at fifty,, only a few years away,,
we are laughing all the way to the bank ...( us being so dumb and all,)
We bought everything with something down... we figured out a long time ago no one gets something for nothing.There is no substitution for HARD work,, concept many younger people just don't get as mommy and daddy paid for everything for them, their schooling, their weddings , their first cars,, and now, at 25 they rush off and bought 300.000 dollar houses,, what every happened to buying what you could really afford.

As for those who bought with nothing down having nothing to lose, what a load,, they likely paid morgage payments that were higher then rent, and,, they much more importantly lose their credit rating, and many had to declare bankrupcy.. don't think thats so good.
The proof is in the pudding.
How many people did any real research on real estate markets before they bought, I mean real research , not talking to agent who stands to make a commission, or a bank, which makes money off loans,( in normal circumstances) .

Anyways I realize this is way off topic so back to orginal topic, which is how great it will be for us( Canadians) to be able to use our CC in the machines at train stations etc.. a conveneience I missed this past summer.

Meanwhile back on topic.
I'm afraid you still won't be able to use your cc in a Dutch railway ticket machine - they only accept Dutch cards. Not French, not Belgian, not US or Canadian. Only Dutch, with or without a chip. The same is true of many unmanned petrol stations here too.
You can use a debit card with a 4 figure PIN if it is a Maestro card though.

heitmjj,
I did not know that, see, there is always something to learn here. That must annoy the tourists from other Europeon countries, I mean they are so close they can travel there more frequently and easily then us North Americans so being able to use their cards would be greater convenience( I only use mine for hotels and train tickets,, but always at the kiosks not the machines,, and long lines!)