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PIN

Definition of 'PIN'

PIN stands for Personal Identification Number – a secret four number sequence that only you should know to be used when using your credit card in an ATM or at a point of sale.

Credit cards and charge cards are usually issued with a PIN by letter to the cardholder (customer’s) address, sent separately from the card itself. The cardholder can then change the PIN to a more memorable number at an ATM.

When choosing a PIN, avoid using your date of birth as this is an obvious one for fraudsters. Often the card companies will stop you using other simple sequences such as 1234 or 8888.

If you can, use a separate PIN for each credit card, and do not share your PIN with anyone else.

A PIN is often used in connection with an electronic chip embedded in the card itself. Together, Chip & PIN, as it is called, is a highly effective fraud prevention system for credit cards.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

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Credit Jargon Starting 'L'

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Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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