Chip Card

AAA

DEFINITION of 'Chip Card'

Also known as a smart card or memory card. A chip card is a plastic card that has a computer chip implanted into it that enables the card to perform certain functions. These could include financial transactions, security system access, and storage of medical or other records.

INVESTOPEDIA EXPLAINS 'Chip Card'

Credit and debit cards are chip cards, as are security key cards that grant access to restricted areas. Usually this type of card is easily replaceable in the event of loss or damage. Some chip cards (i.e. credit and debit cards) also require the use of a separate PIN number.

RELATED TERMS
  1. Debit Card

    An electronic card issued by a bank which allows bank clients ...
  2. Check Safekeeping

    A safekeeping service offered by banks and other depository institutions. ...
  3. Credit Card

    A card issued by a financial company giving the holder an option ...
  4. Credit Limit

    The amount of credit that a financial institution extends to ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Chargeback

    The charge a credit card merchant pays to a customer after the ...
Related Articles
  1. Credit & Loans

    Credit, Debit And Charge: Sizing Up The Cards In Your Wallet

    Not all plastic is equal! Learn the difference between the three kinds, and how each can affect your finances.
  2. Options & Futures

    How To Establish A Credit History

    Can't get a credit card without a credit history, and can't get a history without a card? Break the Catch-22.
  3. Options & Futures

    Choose To Beat The Bank

    From internet banking to credit unions, it's in your power to cut fees and maximize service.
  4. Credit & Loans

    5 ATM Scams That Can Break The Bank

    Don't get scorched by ATM thieves who want to burn a hole in your wallet.
  5. Options & Futures

    401(k) Debit Cards: Taking A Swipe At Your Retirement Savings

    This is just another more convenient way to borrow from your plan. But at what cost?
  6. Credit & Loans

    Capital One Cards: VentureOne Vs. Venture Rewards

    Which Capital One rewards credit card offers the best deal for you?
  7. Credit & Loans

    Credit Card Review: The Amazon.com Rewards Visa

    The rewards from
  8. Credit & Loans

    Credit Card Review: Southwest Rapid Rewards Cards

    Do Southwest Airlines' free checked bags make one of their credit cards a good choice for you?
  9. Credit & Loans

    Do lenders offer floating APRs?

    Learn about credit cards with floating, variable and fixed APRs. Explore introductory rates offered by two leading credit card issuers.
  10. Credit & Loans

    Why do some credit cards offer introductory APRs?

    Understand how introductory APRs from credit card companies can help or hurt your personal finances. Learn how to use these offers to your advantage.

You May Also Like

Hot Definitions
  1. Command Economy

    A system where the government, rather than the free market, determines what goods should be produced, how much should be ...
  2. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  3. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  4. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  5. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  6. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
Trading Center