Tuesday, 16 October 2012

what is a credit card number

Credit card means borrowing money from bank or lender . Credit card issued by  a bank or any lendeR.Credit card holder able to pay for goods and services based on holder promise to pay for them.But this money is not coming with cash  or not like  cash loan .Credit card is little bit different from other types of browning money from bank .Credit card just like a Debit card  but little bit  different of using credit card .Credit card ,debit card and any others bank payment card have a certain amount of internal structure and share a common numbering scheme .All types of bank  numbers are allocated in accordance with ISO/IEC 7812.The issuer of credit card open a account and grants a  certain  amount of credit line to the user and user can borrow money for payment to merchant or cash advance to card holder.Diffirent credit provider company  interests rate is different and  their application  criteria  is different .Now a days credit card very popular and smart to borrow money in the world .The common type of credit card is issuing bank logo,16 Digit unique credit card number across the front of credit card ,card holder name,Credit card issue date or

 started date,experiation date,contacaless chip ,3 digit security code back on credit card and card holder singnture.This common type of credit card but some times it's vary of bank or any lender.Credit card comes with few special feature but it's does not come with disadvantages .Few benefit of  credit card such as free interest purchase for month to year,low interest rate,no cash advance fee ,secure and smart .Few disadvantages of  credit card are late payment charge ,over limit charge,miss payment charge ,reduce credit limit suddenly  etc.
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