Have you ever wonder about the sequences of numbers that are shown on your credit card? How those numbers came about or what those numbers mean? Most of us can only identify what cards are from which credit card company by the company logos. However, a little known fact is each credit card issuer has a sequence of numbers that specifically appears on every one of the credit cards they issue and is not to be used by their competitors.
The numbers appearing on your credit card are not just randomly selected so only you have them. They actually are a series of numbers that set up some internal structure for the issuing organization. The first 6 digits called the Issuer Identification Number (IIN) on almost all major credit cards determines the credit card network that the card belongs in. That means by reviewing those first few numbers on your card, you can tell if your card is a MasterCard, Visa, American Express or even a Discover card.
Those who follow the system of order are partaking in the IIN system. Some of the common numerical prefixes for national credit cards are:
- American Express: 34, 37
- Discover Card: 6011, 60112-60114, 601174, 601177-601179, 601186-601199, 622126-622925, 644-649, 65
- MasterCard: 51-55
- Visa:4
That small piece of plastic you use to make paying for your expenses easier is just a fragment of the goliath of the credit card system. When you are granted credit from a lender, they trust you to pay back the money. The credit card they issue is the key to accesses your line of credit from the credit card issuer in a convenient manner. The electronic systems by which your charges are verified rely on the smallest component, the numerical sequence, to organize not only your transaction, but the transactions of all cardholders worldwide, properly. Learn how credit card transactions work.
