when cards become dangerous

when we go on buying articles, goods with cards the debt increases and lot of burden falls on our pay bill. So when you consume credit money for articles, it is a burden. The money used by card should bring more money. then only the cards are useful. Otherwise the cards would be dangerous. I faced this problem. Then i found out methods how to hit them back with their own money.

How people evade cards

i know some wise guys who take much credit card loan atonce from many cards and go away to a remotest place in their native place and start an industry with that money. Most of the credit card banks fail to track them in that remote area. Even if they try to reach there, these guys keep some hired work men form their business to drive them off. Banks are also ready to part with this type of bad debts, as a part of their business. Afterall they get lot of money from innoncent debt trapped customers.

why to take credit cards

Many people are afraid of credit cards. This fear may be baseless. It is like a fear of fire. Fire can be used to cook food or burn our hut. similarly credit cards can also be used to improve our life.Banks have lot of money with them. They found taste in credit card business where they get lot of money through some dubious methods. Their penalties, interest charges, pick up charges other medical insurance , annual fee etc add up and rob us. so it is not unfair if some one finds a way to escape this legally illegal credit card debt.
when we need money none comes forward to help us except these cards. so, it is better to take from them instead of asking our friends or relatives and feel shy to see them again.

Credit card numbers

Credit card numbers conform to the Luhn algorithm, which is just a simple checksum test on the number. What you do is start from the right and double each second digit (1111 becomes 2121), then add them all together, and you should end with a number evenly divisible by ten. If it doesn’t, it’s not a valid credit card number.
The first digit of the number is the Major Industry Identifier. 1/2 are for airlines, 3 is for travel/entertainment, 4/5 for banking and financial, 6 for merchandizing and financial, 7 for petroleum, 8 for telecommunications. 0 and 9 are for other assignments but you’ll likely never see them. If you look at an American Express card, you’ll see it starts with a 3, a throwback to their travel/entertainment roots.
The first six digits will correspond to the issuer, including the major industry identifier. 34xxxx/37xxxx are for American Express, 4xxxxx is for Visa, 51-55xxxx is for MasterCard, and 6011xx is for Discover.
The rest of the digits (except the last one, which is a checksum digit) is your account number.

why expiration date?

Ever notice all your credit cards are of uniform shape and size? Their dimensions are governed by the ISO 7810 standard, an international standard for identification cards. Banking cards, as well as driver’s licenses and retail cards, follow ID-1 (passports follow ID-3). If your card has a smart chip, it follows ISO 7816, and if it has RFID, it follows ISO 14443.
The expiration date on the card is “fake.” You can still use the card after its expiration date because the card number on your replacement will be the same. The reason why cards do expire varies from company to company but mostly it’s because the credit cards take a lot of abuse and just need replacing (they estimate the magnetic strip is good for only about three or four years of swiping).

How a card is charged

The credit card sale process works as follows: The vendor sends an authorization request for the value of the sale. The credit card company checks the card limit and reduces the credit limit by that amount (it puts a “hold” or a “block”) and sends the vendor electronic confirmation that the card is good. The vendor sends a deposit transaction or a sale transaction. The credit card company sends the money. This process is usually quick and painless…
# Hotels and rental car agencies usually send an authorization request for the estimated cost of your stay or rental and they keep this “block” on your card for 10 to 15 days (independent of how long you actually stay there) even if you pay with something else.
# When you use a credit card at a gas pump, the pump authorizes the purchase for something in the neighborhood of $50 first. So if you have less than $50 left on your limit, the pump will reject your purchase attempt.

Master charge card

Originally formed under the name Interbank Card Association and they acquired the MasterCharge brand and logo in 1969. MasterCharge was originally formed by four California banks in 1967, who joined together to form the Western States Bankcard Association to battle the BankAmericard of Bank of America. MasterCharge was renamed MasterCard in 1979.
# In 1984, MasterCard was the first to use a hologram on its cards to deter fraud.

Discover Card History
Discover Card was introduced by Sears in 1985 and gained notoriety because it charged no annual fee.At the time, Sears also owned the brokerage Dean Witter Reynolds Organization and the Discover brand was integrated into that organization. When Dean Witter merged with Morgan Stanley in 1997, Discover went along for the ride.

Master card-Visa card

MasterCard and Visa are networks of banks and financial institutions. American Express is its own company and Discover Card is a subsidiary Morgan Stanley (who is spinning off the business).Visa was originally called BankAmericard, a card offered by Bank of America in 1958 in California. By 1970, they had created an association, called the National BankAmericard, Inc., of all the US Banks that issued the BankAmericard. It wasn’t renamed to Visa until 1976.
Visa actually stands Visa International Service Association

How credit cards started

n the beginning, credit cards were just charge accounts, offered by individual stores and only usable at those stores. The first credit card that could be used at multiple locations was offered by The Diner’s Club in 1950.
Diners Club issued that first card to only two hundred customers and it could only be used at twenty seven restaurants in New York City.
American Express started off as a shipping company in 1850, shipping products across the United States and capitalizing on the limited reach and slow speed of the United States Postal Service. Their main customers were banks and they shipped various financial instruments like stock certificates and other notes. They began selling money orders and traveler’s checks in 1882 and issued its first credit card in 1958.