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Credit cards come in many shapes and sizes, but did you know that the number on the front can tell you a lot about the card? A Visa card, for example, will always start with a 4.
The first digit of a credit card number can often give away its type. American Express cards, on the other hand, start with a 3. If you're not sure what type of card you have, check the number on the front – it might just tell you.
Some credit cards, like Discover, start with a 6. These numbers are known as the Major Industry Identifier, or MII. The MII helps card issuers and merchants quickly identify the type of card.
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Credit Card Structure
A credit card's structure is made up of three essential components: information about the card issuer, your account information, and a check digit. This structure is what allows credit cards to be used universally.
The first six digits of a credit card number reflect the credit card network of the card. For example, 601100 reflects Discover cards.
A credit card number is usually 15-16 digits in length, but may be up to 19 digits or 13 digits in some situations.
The last digit of a credit card number is a checksum number that prevents fraudsters from creating fake credit card numbers.
Here's a breakdown of the three essential components of a credit card number:
- Information about the card issuer (first 6 digits)
- Your account information (middle digits)
- A check digit (last digit)
Card Identification Numbers
Card Identification Numbers are a crucial part of how credit card transactions work. They help determine which card brand to send the payment for further processing.
The Major Industry Identifier (MII) is the first digit of the BIN and PAN, and it indicates which card brand to send the payment for further processing. There are 10 MII, but only four you need to know.
Here's a breakdown of the MII:
- 0: ISO/TC 68 and other industry assignments
- 1: Airlines
- 2: Airlines and other industry assignments
- 3: Travel and entertainment (American Express)
- 4: Banking and financial (Visa)
- 5: Banking and financial (Mastercard)
- 6: Merchandizing and banking, financial or national assignments (Discover)
- 7: Petroleum
- 8: Healthcare, telecommunications, and other industry assignments
- 9: National assignment
The Bank Identification Number (BIN) or Issuer Identification Number (IIN) is the first six to eight digits in the PAN, and it routes payment instructions to the correct network and its member bank or credit union.
The card networks use the remaining BIN digits to determine which financial institutions to route the transaction for further processing.
Security Features
A Card Verification Code (CVC) or Value (CVV) is the 3-digit that is printed on the back of a payment card or a 4-digit code printed on the front (i.e., American Express).
This security code is a crucial feature that helps verify you're in possession of your card.
Requiring the CVC or CVV for card-not-present transactions is a safeguard to prevent unauthorized use of your card.
Were your card ever compromised with your CVV, attackers would have free reign to use your card anywhere.
Card Types
There are several types of credit cards, each with its own unique features and benefits.
The most common card types are cashback, rewards, and balance transfer cards. Cashback cards offer a percentage of your purchase back as a statement credit. Rewards cards, on the other hand, give you points or miles that can be redeemed for travel, merchandise, or other rewards.
Some cards also have sign-up bonuses, which can be a significant incentive to apply for a new card. For example, the Discover it Cash Back card offers a $150 bonus after spending $500 in the first 3 months.
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Service Code vs Security Code
A service code is a set of three digits embedded into the magnetic strip that provides information about the card and how it can be used.
The main difference between a service code and a security code is that a security code, also known as CVC or CVV, is a unique string used to verify the authenticity of a transaction.
This code is typically located on the back of a payment card and is not embossed on the card itself, making it a bit more difficult for bad guys to obtain.
Both service codes and security codes are considered sensitive information, but they serve different purposes.
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Air Travel Card
The Air Travel Card was a game-changer in the travel industry, introduced by American Airlines and the Air Transport Association in 1934.
It simplified the process of buying air travel, allowing passengers to "buy now, and pay later" for a ticket against their credit. They received a fifteen percent discount at any of the accepting airlines.
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By the 1940s, all major U.S. airlines offered Air Travel Cards that could be used on 17 different airlines.
This was a huge convenience for travelers, making it easier to book flights across different airlines. The Air Travel Card became a widely accepted form of payment in the industry.
By 1941, about half of the airlines' revenues came through the Air Travel Card agreement. This shows just how popular the card had become.
In 1948, the Air Travel Card became the first internationally valid charge card within all members of the International Air Transport Association.
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BankAmericard/Master Charge
BankAmericard/Master Charge was the first credit card to use a computer to process transactions. It was launched in 1966.
The card was created by Bank of America and was initially only available to its customers. It was later licensed to other banks.
Master Charge was the first credit card to introduce a rewards program, which offered discounts and rewards to cardholders.
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For Mastercard
For Mastercard, the security code is a 3-digit number, also known as the Card Verification Value (CVV). This code adds an extra layer of protection for online transactions, ensuring that only the cardholder can make purchases.
The card number on a Mastercard is made up of several parts. Digits 2 and 3, 2-4, 2-5, or 2-6 form a bank number, depending on the first digit.
The account number is represented by the digits after the bank number, up to 15 digits. This is the number that identifies your specific account.
For more insights, see: Three Digit Number on the Back of Credit Card
Acceptance Mark
An acceptance mark is a logo or design that indicates which card schemes an ATM or merchant accepts. It's usually a decal or sign at merchant locations or in their advertisements.
The purpose of the acceptance mark is to provide the cardholder with information about where their card can be used. This way, they know which merchants accept their type of card.
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An acceptance mark shows the card scheme, not the specific card product name. For example, a merchant might display an acceptance mark for Visa or Mastercard, but not the specific name of the card product.
An acceptance mark is not an absolute guarantee that all cards belonging to a given card scheme will be accepted. Cards issued in a foreign country may not be accepted due to contractual or legal restrictions.
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Card Contents
A credit card's card contents can vary depending on its type.
The magnetic stripe on the back of a credit card contains information such as the card number, expiration date, and security code.
This information is encoded in a way that can be read by merchants' credit card machines.
A smart card, on the other hand, has a microchip embedded in it that stores the card's information.
This makes smart cards more secure than traditional cards with magnetic stripes.
Some credit cards also have a hologram or other security features to prevent counterfeiting.
These features can make it more difficult for scammers to create fake cards.
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Understanding Card Numbers
The first six to eight digits in a credit card number are called the Bank Identification Number (BIN) or Issuer Identification Number (IIN). It's like a routing number for your payment.
The BIN determines which network and financial institution to send the payment for further processing. This is crucial for your transaction to go through smoothly.
The Major Industry Identifier (MII) is the first digit of the BIN and PAN. It indicates to processors which card brand to send the payment for further processing.
Here are the four MII you need to know:
- 4: Banking and financial (Visa)
- 5: Banking and financial (Mastercard)
- 6: Merchandizing and banking, financial or national assignments (Discover)
- 3: Travel and entertainment (American Express)
The remaining BIN digits are used to determine which financial institutions to route the transaction for further processing. This ensures your payment reaches the right place.
A credit card number is divided into three parts: Issuer Identification Number (IIN), Account Number, and Check Digit. The IIN represents the company that issued the card, usually the issuing bank.
Card Verification
The Card Verification code, also known as CVC or CVV, is a 3-digit or 4-digit security code on a plastic card.
This security code is considered sensitive authentication data and cannot be stored by merchants.
It adds another layer of protection for card-not-present transactions, ensuring those without your physical card can't easily use it for other online purchases.
Sources
- https://en.wikipedia.org/wiki/Credit_card
- https://blog.basistheory.com/credit-card-anatomy
- https://stackoverflow.com/questions/72768/how-do-you-detect-credit-card-type-based-on-number
- https://pcidssguide.com/what-do-the-credit-card-numbers-mean/
- https://webstandardssherpa.com/reviews/auto-detecting-credit-card-type/comments/index.html
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