Outdated Magnetic Strips: How U.S. Credit Card Security Lags. I got to deal with this during my month in Australia, I had to tell everyone "it's credit, no pin, I have to sign". Received a small amount of guff over it but the frustrating part was trying to top off my transit card for the trams, they would only accept Chip and PIN, so I had to visit a shop to deal with that. American Express just sent me a new card as well, except it's "Chip and Sign", there's still no PIN as part of it...