Management and expenditure of money have become extremely useful and practical with the help of credit cards. However, we often tend to overlook all the various details and information that are present on the credit card. Today, we will learn the parts of a credit card that you should know. It is always important to familiarize yourself with the multiple features in a card so that you can make optimal use of it. The main card has two areas of significance, the front and back of the card.
Table of Contents
The Front of the Credit Card
The various features that are present in the front of the card are as follows:
1.Name of the Bank
This section if the card specified the name of the issuer of the card or the bank you are operating with. It mostly shows the name of the bank, but sometimes it can have just the logo to give it a more minimalist look. The bank is the lender who is paying to the merchants on behalf of you, and hence their name or the logo is of prime importance.
Credit Card Number
The credit card number is the most crucial part of your card because it acts as an identifying data. Not only does it identify your account with the lender of the bank, but these are also the digits that are to be provided for making any purchase, whether online or even offline. Most credit card numbers are generally 16 digits long, but some may also range between 14 to 19 digits.
Since the credit card number is of prime importance, you must always keep these numbers private. Be very aware of where you write this information and only tell it to people who you trust entirely but then also in dire situations. When your credit card is lost or is taken by a thief, it is this information that they make use of to make illegal transactions. For this reason, online transactions demand more than just your card number to authenticate a payment. You will also need to provide the expiration date of the card, a security code as well as the zip file.
Name of Card Holder
This is the name of the person who has been authorised to use the card to make transactions. It does not necessarily mean that the person has opened the account; they might simply have the authority to make transactions using the card. It is only the authorised person who can complete such a transaction.
Smart Chip or EMV Chip
These are the tiny metal strips that add an extra layer of security to your credit card in place of the magnetic strips that were available on the traditional credit cards in the past. The chip is what makes it more difficult for thieves to make unauthorised transactions using your card. When a card has a chip, it is always better to use this option instead of swiping it every time. The chip used a single-use code for every transaction that is made. Hence the stolen data becomes irrelevant and cannot be used by the thieves. If you can prevent frauds, it will have a better effect on your life and help you from many hassles.
Date of Expiry
The expiration date is important to let you know when you need to change your card. A number of online transactions also need this data to help you make the transaction.
Logo of Payment Network
Depending on the payment network, the type of your credut card also varies. Online payment usually needs you to choose the type of credit card you hold so this information is important for you to know. Some merchants only accept specific payment methods, and this is to be kept notice of before beginning a transaction.
The Back of the Credit Card
The various features that are present in the back of the card are as follows:
The magnetic strip provides information about you and your bank with the use of specialised devices that are known as card scanners. The magnetic strip is necessarily activated when you swipe your card when making a transaction and it provides the necessary details to the merchants to authorise your payment activity. If you use the menu very often, the magnetic strip may come off or become worn.
Bank Contact Information
The back of the card contains the bank information that you can use to get in touch with the bank. Providing updates about theft or fraud will help. Your bank can take the necessary actions like blocking your card so that no money can be drawn from it subsequently. Even if you get a call from an unreliable source asking for your sensitive information, you can use the information to call your bank and let them know about your state.
This is applicable for some cards that have a mirror-like area with a three-dimensional image that keeps changing according to your viewing angle. It is very important as an identifying element in your card as holograms are very important as the technology is evolving continuously.
Cards always come with an additional code that helps to ensure that the person was making the transaction is legitimate. First online payment this code is required in order to sanction the transaction along with the number on your card as well as the expiration date. It is an additional layer of security that can help you to illegitimate activities and unauthorised spendings on your card. Security code of many types that include CVV, CVC, CVV2 and more, here, CVV is the most well-known variant.
The card owner has to sign the card before it can be used. Now, put the signature here. It may be a little challenging to fit your signature in that small box, but you must try your best to fit it in there. The merchant will verify this signature before handing you the card.