What is a Credit Card Number? It’s Far From Random

Sample Credit Card

Have you ever wondered if your credit card number is something totally random or if there is a system that determines what your number is?  Credit card numbers are pre-determined so that the credit industry can keep track of how many cards there are in what specific areas.

Let’s take a look at the question “what is a credit card number?”

Issuer Identifier

The first six digits of your credit card determine the issuer and are known as the Issuer Identification Number, or IIN.  The first set of the six digits will tell you the issuer of the card and the rest of the six digits will help identify which card from the issuer and where it’s from.  Each card has a determined length of digits.  For example:
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Should You Use Your Credit Card to Buy Gold or Silver?

Gold and Silver Coins

Gold and silver prices have been on the increase for many months and this is no surprise to Gerald Celente, the CEO of Trends Research Institute, business consultant and publisher of the Trends Journal.

This “Trends Expert” stated that gold and silver prices would continuously increase almost two years ago.  As CNN Headline News stated, “When CNN wants to know about the Top Trends, we ask Gerald Celente.”  As per usual, Gerald Celente called it right.

Many financial experts are stating that gold and silver demands will continue to be high for quite some time to come.  According to the vice president of the RBC Capital Markets Global Futures George Gero, he stated at Forbes.com that worries about the US debt and tensions in the Middle East are a couple of reasons why investors like to turn to gold.

As of the posting of this blog, gold was $1548 per ounce and silver was $36.21 per ounce.  Compare that to one year ago, gold was about $1200 per ounce and silver was $18.50 per ounce.

So investing in gold and silver is still proving to be profitable.
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Citi Data Breach: How Can You Protect Yourself Against Credit Card Fraud?

Recently, Citi experienced a data breach that exposed credit card numbers and contact information of about 1% of its customers. When you consider CitiGroup has tens of millions of customers, you realize that’s a pretty big number.  Citi says that it is contacting those who were impacted, but that could take a while.  Meanwhile, if you have a Citi account, you might want to consider how to protect yourself.

What Should You Watch Out For?

If there is some good news in this, it’s that, by law, your liability for fraudulent credit card purchases is $50.  (With debit purchases, many issuers offer limited protection, but you usually have to notify the issuer within two days if you want liability limited to $50.  If you take too long, you could find your checking account drained — and no recourse.)  However, it’s often better not to wait until a fraudulent purchase is made; you can call and ask for a new account number and a replacement card.
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Google Wallet and the New Wave of Paying for Things

How Google Wallet Works

Imagine going to a store or a restaurant and you forgot your wallet or purse.  No credit cards.  No cash.  No problem!  Whip out your cell phone, enter your pin, tap, and paid.  “What,” you say?!?

Google introduces Google Wallet

Google is revolutionizing the way that we pay for things.  Google has introduced a new application available on your phone that turns your phone into your digital wallet and gives you an alternate form of payment.  This will allow shoppers to pay for groceries or a new outfit at the mall with their mobile device.
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Should You Cancel That Credit Card?

Ever since the financial crisis in 2008, and the resultant recession, there has been a renewed interest in canceling credit cards and getting out of debt. Additionally, the upswing in fees from many credit card issuers has prompted some to want to cancel credit cards in order to avoid those fees.  Many card issuers are instituting annual fees, leading even the most responsible and conscientious card users to feel the costs of credit card spending.

However, just because it’s tempting to cancel your credit card, doesn’t mean it’s always a good idea. Before you cancel your card, consider the effect that a cancellation could have on your credit score.Continue Reading

How to Avoid Free Trial Scams and What to Do if You Suspect You are a Victim

With the economy still stuck in limbo, many people have been looking for a way to save money and cut back where they can. Couponing has had a boost in popularity lately, and deal websites like Groupon and Living Social have been thriving.  Along with these trends, people have been increasingly signing up for free trial offers.  “Try before you buy” has allowed many consumers to give a product or service a test drive before purchasing.  As sweet as that sounds, the FTC has some concerns and want you to be aware of potential scammers, taking advantage of you.
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Best Western Hotel Rewards – A Review

Would you like the flexibility to earn hotel rewards or airline rewards with every hotel stay at a hotel chain that is in six different continents? If so, you may want to join Best Western Rewards program.

Best Western Rewards offers flexibility in the way you decide to earn points.  You can choose to earn Best Western Rewards at 10 points per dollar spent on qualifying stays at over 4,000 hotels worldwide in North, Central and South America, Europe, Asia, Australia, New Zealand, and South Africa.  Or, you can choose to earn 600 Southwest Airlines Rapid Rewards points, 20 AIR MILES reward miles or at least 250 airline/partner rewards per qualified stay.  (You must specify which way you would like to earn your rewards when signing up for Best Western Rewards.)
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