Take a look at your credit card and notice the numbers on it. Do you know what those numbers signify? This article discusses the meaning of those credit card numbers or what is known as the credit card numbering system or the ANSI Standard X4.13-1983.

The Credit Card Number Series

The numbers on the front side of your credit card is used to identify the type of card you’re using and the company that issued the card. Major issuers each have their own 3 digit codes which are the first three digits of the numbers on the face of a credit card. For instance, if the first three digits start with a 3, it can be a travel card or an entertainment card issued by American Express or Diners Club. VISA’s three digit code start with a 4, Mastercard starts with 5 and Discover credit card starts with a 6.

Different issuers each have their own numbering codes as well. For example, American Express credit cards usually start with the numbers 37. The next third and fourth digits on the number series indicate the type and currency, the fifth to eleventh digits indicate the account number of the card holder, the 12th to 14th indicate the card number within the account and the last digit (15th) indicates a check digit.

VISA cards use a different system for its number series. The first digit always stands for VISA, the 2nd to 6th digits stand for the bank number, the 7th to 12th digits stand for the account numbers and the last one stands for the check digit.

As for Mastercard, the bank number is assigned either with the first two and three, two to four, two to five or two to six digits, depending on the first digit of the series (1, 2, 3, etc.) The account number comes after the bank number and the last digit or the 16th digit stands for the check digit.

Your Cards’ Magnetic Stripe

Do you notice a magnetic stripe at the back of your card? The magnetic stripe or the “magstripe” is the part that is swiped in the credit card reader when you make a purchase. The magnetic stripes contain the unique information of your card.

Credit cardholders must be cautious about the crimes associated with credit card fraud. For instance, “skimming” is a common tactic used by identity thieves to steal credit card information from a person.

Skimming devices are usually very small devices that can be easily hidden in the palm of the hand. Thus, even a waiter can quickly use the skimming device as he/she takes the customer’s credit card to the counter. This is why consumers who are dining out are advised to personal take their credit card to the cashier’s counter and never let their card’s out of their sight.

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Liz Roberts is a freelance writer and loan consultant. The website BadCreditResources.com offers resources that specialize in providing bad credit loans and credit cards for bad credit.

Identity Theft is the illegal possession and manipulation of a person’s personal information such as name, social security number, credit
card number, driver’s license number, bank account number, address, phone number, and personal identification number (PIN).

It is estimated that each year 10 million Americans fall victim to crimes related to stolen
identities. These types of incidents vary from one fraud act to more complicated crimes. Many people
found that a new credit card account has been opened on their name leaving an enormous amount of unpaid purchases charged to their credit. Some people found that car loans or a mortgage has been made in their name without their slightest
knowledge. Others were just as surprised when they realized their bank accounts has been completely drained using forged
checks or debit cards.

How do these imposters get away with these fraudulent acts? By getting their hands on anything that contains your personal details. They steal wallets, your mail, even old mail and past bills sent by the bank, insurance agencies, telephone companies, receipts, anything that has some identification numbers on it. And yes, they do search through your trash bins and garbage. They may also be just behind you at ATM stands, watching you enter your precious PIN number. These people are everywhere;
they are on the internet, in your workplace, in public places- always on the look out for private information. They can even go as far as breaking into your home just to get this vital information.

Once they got this information, it could be as easy as calling your bank to increase your credit limit and that all your bills be sent to a new address. It could take months before you realize what has happened, since your bills are being sent to a new location.

The next thing you’ll know you have hundreds or even thousands of dollars unpaid balances on your credit card.
Just imagine what an infuriating and disheartening situation it could be for you!

So how do you know if your identity has been stolen? The warning signs may include:

• Your mail doesn ot reach you
• Unusual details or charges on your account
• You receive unexpected calls from creditors
• You receive notices for a new credit card
• You have been denied credit

What should you do? You don’t really need to wait to for your creditors to call you up and inform you about fraudulent charges on your account. You should always keep yourself updated on all your credit accounts. Many credit card companies offer a service called credit watch and they will alert you every time a new account or inquiry is placed against your credit report.

Be cautious about your personal information. Do not write it or leave it anywhere except in a safe place. Do not carry all your credit cards on your wallet all the time. Bring only the ones you need to use. Be careful when using ATM, especially if there is another person behind you. Shred past mail, receipts, bills before you trash them. Destroy unused credit cards. Do not give any personal information through e-mail.

If your wallet has been stolen, notify your credit card issuer immediately. It is best to have the card cancelled and get another one with a new PIN. If you have not been receiving your mail, report this to your local postal inspector.

If you do suspect of a fraud, place an alert on your accounts right away. You may choose an initial alert which lasts for 90 days on your credit report. However, if you have been a victim of identity theft, you may ask for an extended alert on your credit report which lasts up to seven years. To place a fraud alert, you may contact any of the three consumer reporting companies through their toll-free numbers:

• Equifax: 1-800-525-6285; www.equifax.com;P.O.
  Box 740241, Atlanta, GA 30374 – 0241
• Experian: 1-888-EXPERIAN
  (397-3742); www.experian.com;P.O.Box 9532 Allen , TX 75013
• TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim
  Assistance Division, PO Box 6790, Fullerton, CA 92834-6790

You’ll be entitled for a free credit report so you can personally check on your accounts. Examine all the details on report, any companies you haven’t done business with, unfamiliar accounts, and if there are any unexplainable charges. Make sure that all your personal information like your name, address, SSN is exactly correct. If there is any incorrect detail, update it immediately.

If your account has really been corrupted, speak with someone from the fraud department of that company and notify them about it. Follow it up with a written report sent through registered mail. The letter must state that you dispute such charges due to their fraudulent nature. Request that these fraudulent debts be resolved and that the account be closed.

File a report with your local police. To find out if your state law accepts reports on identity theft, check your state Attorney General’s office at www.naag.org. You should also file a complaint at the Federal Trade Commission (FTC).

Contact
them by phone at 1-877-IDTHEFT (438-4338); TTY: 1-866-653-4261, or by mail at::

Identity Theft Clearinghouse

Federal Trade Commission

600 Pennsylvania Avenue,

NW, Washington, DC, 20580

You can also visit the FTC website at www.consumer.gov/idtheft.

About the Author

Liz Roberts is a freelance writer and loan consultant. The website BadCreditResources.com offers resources that specialize in providing bad credit personal loans and bad credit credit cards to people with bad credit.