New cards featuring both magnetic strips and chips are now issued by all major banks. The replacement of pre-Chip and PIN cards was a major issue, as banks simply stated that consumers would receive their new cards "when their old card expires" — despite many people having had cards with expiry dates as late as 2007. The card issuer Switch lost a major contract with HBOS to Visa, as they were not ready to issue the new cards as early as the bank wanted.