1. Finance


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Nearly the whole world carries some form of a banking card these days. Because they are feasible and easy to use when spending or depositing money. They save you from having to lug around wads of cash, and it all happens with just a quick swipe or tap.

While it may seem like all there is to a credit or debit card is just a simple swipe followed by a beep sound, and then you can continue with your shopping adventures. But there is much more to these wallet-sized financial fairy godmothers in disguise.

The development of debit/credit cards is getting advanced with time, and today we have credit repair applications to fix the credit score. It is worth knowing the details around debit and credit cards – that’s why we bring you this blog to tell you parts of debit/credit cards and their functions.

Let’s dive in!


Upfront Of Debit/Credit Card

  • Bank Branding: Bank branding itself refers to who hand out the card. Your card will say either ‘Credit Card’ or ‘Debit/Access Card’ along the top.
  • Card Number: Both credit and debit cards are like financial fingerprints. The numbers imprinted on them serve as DNA, with each digit representing different aspects of the card. Like a secret code, a card number represents other business and personal finance information related to the card owner and the card issuer. This is the entire 16-digit series printed on the front surface and is one of the pieces of information you are required to hand over when shopping online.
  • Cardholder’s Name: This is where the card owner's name is mentioned. There might be a possibility that person didn’t necessarily open the account – they might have permission to spend from the account as an ‘authorized user.’ But the name mentioned on the card is always the authorized or legal person who owns the card.
  • Smart Chips: This is the small metallic-looking square usually on the left side of the card. Chips make it harder for robbers to use stolen credit card numbers. If your card has this chip, use it whenever possible by inserting your card in the machine instead of swiping. The smart chip adds a single-use code to every transaction, making stolen data less useful.
  • Expiration Date: You can find this in smaller print below the row of 16 digits. Like a driver’s license card, your debit/credit cards are only good for a certain amount of time. Before the expiration date arrives, the bank will mail you the new one.
  • Payment Network Logo: This logo tells you the type of card you are using, such as Visa, MasterCard, American Express, etc. You can find this in the bottom right-hand corner. Many selling businesses require you to select your card type when paying online or in-store.


Back Of The Debit/Credit Card

  • Magnetic Stripe: The silver strip that runs across the width of the card is questionably the back’s most prominent feature. Whenever you swipe or punch your card, the card reader reads this stripe to collect various pieces of information about both the cardholder and the account.
  • Hologram: This is the tiny, three-dimensional image near one of the bottom corners of the card. It serves as a security measure.
  • Backside Contact Information: This exists if any issue arises concerning your card, and you need to talk with your bank through call.
  • Signature Panel: Every debit or credit card must be signed by the card owner before official use.
  • Security Codes: It is also known as CVV, a group of three digits included below the magnetic stripe that tells the card is valid.
  • Network Logos: These logos help you know which ATMs you can use for free.


Credit Repair Application

Credit repair applications came into being after the advancements in credit/debit cards. Many professionals started feeling the need to fix their credits to qualify for the mortgage, debt, and other loans. Due to the demand to improve credit scores, many citizens started using credit repair applications, and the number of users is increasing day by day.

If you wonder how to fix your credit and make yourself more appealing to creditors, you may contact Gifted Tax Service to repair your credit score.


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