Tuesday, December 9, 2008

How Credit Cards Work

Credit card is a piece of plastic, which carries information electronically. To used credit card is very easy you just swiping it on a credit card reader to send the card information to be verified. The size of the credit card is 3-1/8” x 2-1/8”. You can use the credit card to any buy products and can pay them later. That is why it is called as electronic money.

The shiny stripe on the back of the credit card is called as magstripe, which is the main thing in the credit card. When a person swipes the credit card in the magstripe reader the information is sent to the central tracking system, which has all the information about the card owner, balance details, country, zip code etc. There are trillions of credit cards issued in the in the World but you must know People have a minimum of 2 credit cards in their name.

No comments: