Hey, remember how the major credit card companies were going to replace all of our magnetic stripe credit cards sometime this year with computer chip cards sometime this year? You know, like what the rest of the world uses? That isn’t happening. We’ll get our computer-chip cards, sure, and some retailers might be able to read them. However, banks might take until 2017 or so to replace all of our cards.

Yes, 2017. It’s possible that your bank or credit union might be waiting to switch out your current credit and ATM card when it expires, which pushes the date to convert the entire country out to 2017. CNN reports that one estimate is that maybe a quarter of all cards in the U.S. will actually be replaced by the end of 2015. (Warning: auto-play video)

Bank of America told CNN that most of its cards will be chip-laden by the end of the year, but not all of them. Not that it matters all that much, anyway: while cards with chips are safer from being cloned, that doesn’t mean baddies can’t get hold of your card number and go on an online shopping spree.

However, merchants might be the losers in this scenario: they have to replace their card readers, which will cost at least a few hundred dollars per cash register, or be liable for any fraudulent purchases made in their stores.

You’re about to get a new credit card … and it’s an epic failure [CNN] (Warning: auto-play video)

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