Chip 'n' Pin

Valentine's Day isn't just about cards, flowers and chocolate body paint, it's about … pin numbers. After 14 February 2006 you'll no longer be able to sign for things with a chip'n'pin card; you'll have to know the pin. So unless you want to be washing up to pay for that romantic candlelit dinner, you need to find out the pin numbers for all your cards before then.

• The Pin Deadline
• Martin's Memory Tricks
• A Final Warning

The Pin Deadline

Get in with your pins

Over the last year, shops have gradually been introducing the chip'n'pin system. Though until now you may have still been able to sign for goods, as shops can choose to override the chip'n'pin function. Yet from 14 February, everyone with a chip'n'pin card will need to know their pin in order to use the card. So if you don't know your pin already, call your bank and ask them to send you your number.

Do I have to stick with the pin number given?

No, you should be able to change it at the credit card provider's parent bank (e.g, NatWest credit cards at NatWest, Cahoot at Abbey), but soon you'll be able to change the pin at any bank.

Are there any exceptions?

A couple. Signature validation will still be possible after 14 February if you've a card from overseas or an old style non-chip'n'pin card. Likewise if you have a disability, such as Alzheimer's, which means you could have trouble with chip'n'pin you will be able to sign; call your bank and to set this up.

Martin's Memory Tricks

I'm terrible at remembering numbers – what can I do?

I've a few of memory suggestions that may help.

• Keypad pressing

  Rather than remembering the number, remember the pattern in which you press the keys – this is often easier than the number itself.

• JohnJane Cards

  Choose a pin that means something to you, but no one else. My suggestion is the years that two people you know were born e.g. your father, John, was born in 1932 and your daughter, Jane, in 1994 - so use the number 3294. Then think of that card in your head as your JohnJane card. As it's preferable not to have the same pin for each card, you could have some JohnJane cards and some JaneJohn cards for ease.

  As a note, I suggest using ‘years' rather than day and date numbers because these are limited, as the day only goes from 1 to 31 and the month 1 to 12.

• Pin Safe Memory Aid

  If you're really struggling, you could use a cheap little system from Pin-Safe which is a way of encoding your pin so you can write it down. It's quick and only a couple of quid. (more details)

A Final Warning

The credit card industry is supporting this move for anti-fraud reasons, but there's another possible benefit it's kept very quiet about. Due to chip'n'pin, you'll now know your credit card pin number – something unlikely in the past. This increases the temptation to withdraw cash from holes in the wall on credit cards, yet do this and there are massive hidden costs. To start with, the interest rate for cash withdrawals isn't always the same as for purchases. Capital One's much hyped No Hassle Platinum card charges 5.9% for purchases and balance transfers, but withdraw cash on it and you'll pay over 20%.That's just the start, most cards also charge a cash withdrawal fee of £1.50 or 1.5% of the amount withdrawn, whichever is greater. Plus even if you pay the card off in full at the end of the month, many still charge you interest on cash withdrawals. All this leads to a very simple rule - never, ever, ever take cash out on a credit card.