What Your Credit Card Number Means

What Your Credit Card Number Means Photo (cc) by Images_of_Money

This post comes from Lynn Oldshue at partner site LowCards.com.

Do you know what the numbers mean on the front of your credit card? Are they just a random accumulation of numbers? Or do they serve a specific purpose?

Much like the VIN on your car, credit card numbers are set up to identify certain components of your account. The VIN tells you what manufacturer made your car and even what color it is. The credit card number tells what company issued your credit card but also a great deal about your account information.

The first number of a credit card is called the major industry identifier. It will signify the industry of the issuer. Travel and entertainment cards begin with the number 3, so all American Express (34 and 37) and Diners Club (30) begin with a 3.

The numbers 4 and 5 represent the financial and banking cards. All Visa cards start with a 4, MasterCards with a 5. The number 6 signifies the merchandising and banking cards, and that is why all Discover cards start with a 6. The petroleum industry is represented by 7, so all gasoline credit cards begin with that number.

Following the major industry identifier number are the specific numbers that represent the bank that issued the card. Then come the numbers that identify your individual account.

The final digit on any credit card is known as the check digit, and it is determined by a complex algorithm created by an IBM scientist, Hans Peter Luhn, in 1954. While every other digit has a special meaning, this check digit is randomly selected and helps deter thieves from inventing credit card numbers, because only one out of every 10 will be valid.

Will knowing any of this change the way you swipe your card? Probably not. Nevertheless, it does give you insight into the complexity of the development of a credit card number.

More on LowCards:

Popular Articles

6 Tips to Age-Proof Your Resume
6 Tips to Age-Proof Your Resume

Finding a job isn’t easy — and it sometimes feels like too much experience actually counts against you. These tips will help.

How All 50 States Tax Your Retirement Income
How All 50 States Tax Your Retirement Income

Find out which states are friendly, and not-so friendly, with the money you’ll need in your later years.

7 Reasons You Should Rent a Home in Retirement
7 Reasons You Should Rent a Home in Retirement

Renting is a better fit than owning for many retirees. Here’s how it can pay off during your golden years.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Trending Stories

Comments

894 Active Deals

More Deals