As the name suggests here in this article we would be getting to know about the basics of various numbers or numeric combinations present on the credit cards & the specific information they convey.
Types of Numbers Presented on a Credit Card
- 16-Digit Credit Card Number
- CVV (Card Verification Value) &
- Expiry Date (MM/YY)
All these Numbers:
- Are printed on the front and back of the credit card and
- Stored in the chip of the credit card.
And are critical to any:
- In-store swipe or insert card chip transaction &
- Online Transaction
The information these Numbers Convey
- 16-Digit Credit Card Number
This number is mentioned on a credit card in the format (XXXX-XXXX-XXXX-XXXX), where each (X: represents a numeric value) and first four numbers of this 16-digit combination tells the information about the card-issuing company like:
- Visa
- MasterCard
- Discover
- JCB &
- American Express
This number is unique to each credit card i.e. no two credit cards in the world will have the same 16-digit combination, this is why that this 16-digit Permutation and Combination is used. So as to allow issuance of millions & billions of credit cards in the present and in the coming future.
2. CVV (Card Verification Value)
This is the three-digit numeric value printed alongside the signature area on the backside of a credit card. This is a security feature number.
3. Expiry Date
This information is displayed in the format of (MM/YY):
- MM = Months (01-12) &
- YY = Year (01-99)
This information tells the credit card owner about the month and year, post which credit card will not be entertained for any transaction by the card-issuing company.
And as per card issuing agreement, the card owner has a grace period before the expiry date arrives, so that he/she can apply for a new credit card. In normal conditions, they themselves dispatch a replacement credit card with a new expiry date, provided you i.e. credit card owner has given a prior permission to them to do so.
To conclude, credit card numbers are basically a set of numbers with different interpretations with an end aim to secure the credit card usage on both online and offline platforms.
Read More: Credit Card- Issuing Banks in India & Related Terms
