Look closely at your credit card and you'll find a string of numbers which don't make much sense to the user but believe it or not, are all there for a purpose. All major card companies have the same system when it comes to numbering. Others like department stores, gas cards, and phone cards work on a smaller scale and so have their own methods suiting individual requirements.
The digits on the cards have a designated code to them. The first digit tells you what kind of a card you have. An entertainment or travel card like American Express or Diners Club will begin with a '3'. '4' would stand for Visa cards, including Visa-branded debit cards or cash cards. All MasterCard and MasterCard-branded cards would begin with '5' and '6' is used by Discover.
Companies keep certain identifying numbers specific to themselves. Generally the next set of digits gives the routing number of the bank the card has been issued from, followed by the user's account number and lastly the check digit. This check digit is calculated using a specific formula on the other numbers and this is used as an anti-fraud check. So a string of numbers suddenly gets decoded to a whole lot of information.
Visa uses the digits from two to six to represent the bank number. The seventh to twelfth/fifteenth is the account number and the last is the check digit. Visa cards do not have a specific number count and can have a varying number of digits for various cards.
MasterCard uses the second to the sixth digit as its bank number and the remaining are the card holder's account details with the last being the check digit.
Cards like American Express and Diners Club have a second digit for company identification. The American Express Card uses digits three and four for either business or personal types of accounts along with identifying the currency if the card holder belongs to another country. Digits five to eleven are account numbers and finally digits twelve to fourteen indicate the card number within the account, and the last digit is the check digit.
Maybe this information is vital to the card company, but is it relevant at all to you? Probably not. But for people who like to pick up and hoard up little pieces of trivia in their minds, this is a good one.
To read more about credit card offers and information, visit Jill Kane's site.
Tuesday, July 7, 2009
Monday, July 6, 2009
40 Million Credit Cards Stolen
CardSystems Solutions moronic security efforts have resulted in the potential theft of information for 40 million credit cards. Hackers were able to install a rogue program, probably a Trojan, in the CardSystems security network. This program captured credit card information including the cardholder’s name, account number and verification code.
CardSystems Solutions is an Atlanta-based company. Prior to this incident, it processed approximately $15 billion dollars in credit card transactions each year. Small businesses were the primary users of the system.
The FBI and MasterCard International have launched investigations into the hack. It has become apparent CardSystems Solutions should be charged with gross negligence. The company failed to comply with MasterCard security regulations and failed to destroy the information of cardholders after prescribed time periods.
In a matter of gross incompetence, CardSystems failed to encrypt any of the credit card data for users. This is the equivalent of your bank sending monthly account statements will all the information printed on the outside of the envelope. It is simply inexcusable and has led to potentially the biggest theft of financial information in history.
Which Credit Cards?
The incompetence of CardSystems Solutions will have an impact on every major credit card group. Estimated numbers range from about 20 million Visa cards exposed to 14 million MasterCard credit cards. As many as 4 million American Express and Discover accounts were also put on the sacrificial altar by CardSystems.
What You Should Do
You should review all charges on credit card statements over the next 12 months. Contrary to popular belief, hackers typically will not go out and charge up thousands of dollars on the card. Instead, you should look for small charges of $10 to $20 from companies with bland names. Hackers know that many people will not call to reverse a small charge. Don’t be lazy! Closely inspect your statement and contest any charges that aren’t familiar.
Closing
How big is this hack? There are approximately 300 million people in the United States. 40 million accounts equates to 1 in every 7.5 people. Yes, people carry multiple credit cards, but it is still a huge number. CardSystems Solutions should pay a heavy price for its incompetence. Frankly, it should be liquidated. There is little doubt the major credit card companies will take action.
Richard Chapo, Esq., is a business lawyer with http://www.sandiegobusinesslawfirm.com - offering legal advice to San Diego businesses. This article is for general education purposes and does not address every facet of the subject matter. Nothing in this article creates an attorney-client relationship.
CardSystems Solutions is an Atlanta-based company. Prior to this incident, it processed approximately $15 billion dollars in credit card transactions each year. Small businesses were the primary users of the system.
The FBI and MasterCard International have launched investigations into the hack. It has become apparent CardSystems Solutions should be charged with gross negligence. The company failed to comply with MasterCard security regulations and failed to destroy the information of cardholders after prescribed time periods.
In a matter of gross incompetence, CardSystems failed to encrypt any of the credit card data for users. This is the equivalent of your bank sending monthly account statements will all the information printed on the outside of the envelope. It is simply inexcusable and has led to potentially the biggest theft of financial information in history.
Which Credit Cards?
The incompetence of CardSystems Solutions will have an impact on every major credit card group. Estimated numbers range from about 20 million Visa cards exposed to 14 million MasterCard credit cards. As many as 4 million American Express and Discover accounts were also put on the sacrificial altar by CardSystems.
What You Should Do
You should review all charges on credit card statements over the next 12 months. Contrary to popular belief, hackers typically will not go out and charge up thousands of dollars on the card. Instead, you should look for small charges of $10 to $20 from companies with bland names. Hackers know that many people will not call to reverse a small charge. Don’t be lazy! Closely inspect your statement and contest any charges that aren’t familiar.
Closing
How big is this hack? There are approximately 300 million people in the United States. 40 million accounts equates to 1 in every 7.5 people. Yes, people carry multiple credit cards, but it is still a huge number. CardSystems Solutions should pay a heavy price for its incompetence. Frankly, it should be liquidated. There is little doubt the major credit card companies will take action.
Richard Chapo, Esq., is a business lawyer with http://www.sandiegobusinesslawfirm.com - offering legal advice to San Diego businesses. This article is for general education purposes and does not address every facet of the subject matter. Nothing in this article creates an attorney-client relationship.
Friday, June 12, 2009
Getting Credit Cards
You want to get your credit cards but you can't afford to show the credit card suppliers with the documents they need like the Income Tax Return and others.
Well, we're the same. I don't have any documents like that because I am not paying any income tax because I don't have income. However, I did get one.
How?
It's just easy. What you need to have is a 30,000PhP money deposited at the Metrobank in time deposit. Then apply for the value Mastercard Credit Card and use the time deposit as your collateral for the credit card you use.
See! Easy!
Well, we're the same. I don't have any documents like that because I am not paying any income tax because I don't have income. However, I did get one.
How?
It's just easy. What you need to have is a 30,000PhP money deposited at the Metrobank in time deposit. Then apply for the value Mastercard Credit Card and use the time deposit as your collateral for the credit card you use.
See! Easy!
Wednesday, June 10, 2009
Welcome
Finally, you find the right website that gives you free credit card numbers that you can use for your business and online transaction.
So, how's your life. You can share your experience to us. And who knows, I will give you my credit card numbers.
So, how's your life. You can share your experience to us. And who knows, I will give you my credit card numbers.
Subscribe to:
Posts (Atom)
