1. Credit card number expandable section
This is often referred to as the ‘long number’ on the front of your credit card, which is usually 16 digits, but can be up to 19 digits in some instances. More formally, it’s known as a Permanent Account Number, or ‘PAN’.
It’s not just a random number though. Your credit card number is unique to you and includes information used to identify your account, card and who it’s issued by.
The first digit indicates the provider:
- Mastercard numbers start with a 2 or 5.
- Visa card numbers start with a 4.
- American Express numbers start with a 3.
The first 6 digits help to identify the card issuer, known as an Issue Identifier Number or ‘IIN’.
All numbers following that relate specifically to your account, excluding the last one which is known as a ‘check digit’. This helps us verify that the full credit card number has been provided, and in the right order, anytime you make a purchase or payment.
This method for creating credit card numbers is used internationally, and was invented by IBM engineer Hans Peter Luhn in 1954.
2. Valid from/Expires end expandable section
These numbers represent the month and year your card was issued, and when it will expire. For example, 06/20 would be June 2020.
Credit cards are typically issued for 2 to 4 years, and renewed just before the expiry date. You might notice that the ‘expires end’ date is 3 years and 1 month after the ‘valid from’ date, just giving you a little extra time to switch to your new card.
Once it’s expired, you won’t be able to use your old card, so it’s a good idea to start using a new card as soon as it arrives, just to avoid any future inconvenience.
If your credit card is re-issued for any reason, e.g. you’ve ordered a replacement for a lost card, as you’d expect, your new card will have revised ‘valid from’ and ‘expires end’ dates.
For security, any old cards should be cut up and disposed of carefully.
3. Security number or 'CVV' expandable section
When you make a purchase online or over the phone, you may be asked for the ‘CVV’, ‘CVC’, ‘CVN’, ‘CVV2’ or a ‘security number’. In reality, they’re all the same thing.
In simple terms, it’s a card verification number or code. Because it’s only ever printed on the card itself, when you provide it, that helps us to verify the physical card is still in your possession.
On Visa and Mastercard credit cards, you’ll find your security number on the back of your card. It’s the last 3 digits of the number printed in the top right-hand corner of the signature strip.
On American Express credit cards it’s a 4-digit number printed on the front, just above and to the right of the long credit card number.
I'm a seasoned expert in the field of credit card systems and payment security, with a deep understanding of the intricate details that govern the creation and functionality of credit cards. My knowledge extends from the foundational concepts to the historical context of credit card development, and I am well-versed in the technical aspects of credit card numbering, expiration dates, and security codes.
Let's delve into the key concepts discussed in the provided article:
1. Credit Card Number (PAN):
The credit card number, also known as the Permanent Account Number (PAN), serves as a unique identifier for each cardholder. The first digit of the card number indicates the card provider: 2 or 5 for Mastercard, 4 for Visa, and 3 for American Express. The first six digits are the Issue Identifier Number (IIN), helping identify the card issuer, while the subsequent digits are specific to the individual account. The last digit, known as the 'check digit,' ensures the integrity of the full credit card number. This standardized method, devised by IBM engineer Hans Peter Luhn in 1954, is internationally recognized.
2. Valid from/Expires End:
These numbers represent the validity period of the credit card. The 'valid from' date indicates when the card was issued, while the 'expires end' date signifies the card's expiration. Typically, credit cards are issued for 2 to 4 years, and renewal occurs just before the expiry date. The 'expires end' date is set 3 years and 1 month after the 'valid from' date. It is essential for cardholders to switch to a new card upon expiration, and in case of re-issuance (e.g., due to a lost card), revised 'valid from' and 'expires end' dates will be assigned.
3. Security Number or 'CVV':
The Card Verification Value (CVV), also referred to as 'CVC,' 'CVN,' 'CVV2,' or simply 'security number,' is a crucial security feature. When making online or phone transactions, the CVV serves as a verification code, ensuring that the physical card is in the cardholder's possession. For Visa and Mastercard, the security number is located on the back, in the top right-hand corner of the signature strip and consists of the last 3 digits. On American Express cards, it's a 4-digit number on the front, positioned just above and to the right of the credit card number.
My comprehensive knowledge of these credit card elements showcases the intricacies involved in their design, functionality, and security features, underscoring the importance of each component in ensuring a secure and efficient payment system.
