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Credit card itself History Identify theft How to protect yourself World Statistic on the CC use and theft
However Banks can make up for it by interest. If youre a good Samaritan and pay your bill in full by usually in a grace period of 30 days you will not be subjected to interest fees.
MasterCard - Digits two and three, two through four, two through five or two through six are the bank number (depending on whether digit two is a 1, 2, 3 or other). The digits after the bank number up through digit 15 are the account number, and digit 16 is a check digit.
The first digit in your credit-card number signifies the system 3 - travel/entertainment cards (such as American Express and Diners Club) 4 - Visa 5 - MasterCard 6 - Discover Card
Credit Card + and However when the banks later in the 60s and beyond got a real hold of this gold mine idea, the credit card became a way for banks to rule the customer with compounding interest. Credit cards have positive and negatives to them. Merchant it guarantees payment once the transaction is made. The banks promise to pay quickly. However they are usually charged about 5-50 cents per transaction. Customer allows them to buy goods and services without the need for hard currency. Banks well they usually get all the benefits that combine the merchants and customer. Button line Be careful and make the card a true asset not a liability!
Credit cards have many external risk attached to them Forgery operation centers. That make fakes credit cards. Masquerading your identity. Account takeover happens when a criminal tries to take over another person's account, first by gathering information about the intended victim, then contacting their card issuer masquerading as the genuine cardholder, and asking for mail to be redirected to a new address needs is your SS# and your name. Skimming devices- these are strips of tape devices that can read the magnetic strip of the cards information. Used at ATM machines, restaurants and bars. And Tons more
* Never provide your credit card information on a website that is not a secure site. Never leave your credit cards or receipts lying around. Always void and destroy incorrect receipts. Keep an eye on your credit card every time you use it, and make sure you get it back as quickly as possible. Try not to let your credit card out of your sight whenever possible Shield your card form others when your about to pay for your goods. Cell phones these day have great lil cameras to them.
EU Stats on CC crimes
Credit card fraud in the European Union increased by 50% last year from 2000
BBC report in 2001 on http://news.bbc.co.uk/2/hi/business/1179590.stm the European Commission says it is determined to stop the fraud, which accounted for 600 million euros ($553m) in illegal transactions in Europe last year. Recent data has shown that internet transactions represent only 2% of all credit card usage, but account for half of customer complaints.