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If you lost your credit card, had it stolen or are waiting for one tethered to a new account, it might take more time for your replacement credit or debit card to reach your mailbox.
New cards typically take a week to send out, but a chip shortage has pushed that to eight weeks in some cases.
More cards include chips — and industries like auto and tech, are competing for the tight supply.
Credit cards are further down the list to get the chips, and smaller credit card issuers are even further down the list.
Last summer, a global industry group for cards and mobile payments warned of a continued impact throughout 2023.
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Ted Rossman of Bankrate said this could be a time for people to take advantage of more contactless options,
“The pandemic did really juice adoption of things like Apple Pay and Google Pay. They’ve been around for almost a decade, but a lot of people became more comfortable transacting that way when they were afraid to touch physical payment terminals,” Rossman said.
A smartphone’s mobile wallet also allows people to keep a card at home for safekeeping during the current crunch.
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