THINGS YOU MIGHT NOT KNOW ABOUT CREDIT CARDS
Added on: 10th Apr 2016
THERE ARE ENOUGH CREDIT CARDS IN CIRCULATION
TO WRAP AROUND THE EARTH AT THE EQUATOR
THREE AND A HALF TIMES
THE FIRST GENERAL CREDIT CARDS WERE MADE OUT
OF PAPER
THE REASON CREDIT CARDS EXPIRE IS BECAUSE
THE MAGNETIC STRIP SUFFERS A LOT OF ABUSE.
TYPICALLY IT WILL LAST AROUND THREE TO FOUR YEARS
THIS MEANS THAT YOU CAN TECHNICALLY STILL
USE YOUR CREDIT CARD AFTER IT EXPIRES AS LONG
AS YOU ARE NOT ASKED FOR THE EXPIRATION DATE
(EVER NOTICE THAT ALL THE OTHER DETAILS
STAY THE SAME?)
CREDIT CARDS FOLLOW THE LUHN ALGORITHM,
WHICH IS A CHECKSUM TEST ON A NUMBER.
IT CAN TELL YOU IF THE CARD IS VALID OR NOT
TO SEE IT IN ACTION, START ON THE RIGHT AND
DOUBLE EACH SECOND DIGIT (2121 WOULD BECOME 4141).
THEN ADD THEM TOGETHER AND YOU SHOULD END UP
WITH A NUMBER DIVISIBLE BY 10. IF NOT,
THE CARD IS NOT VALID.
THE AVERAGE AMERICAN HOUSEHOLD RECEIVES
6 CREDIT CARD OFFERS EVERY MONTH
IN 2006, CREDIT CARD COMPANIES EARNED MORE THAN
£63 BILLION IN INTEREST
VISA STANDS FOR VISA INTERNATIONAL SERVICE
ASSOCIATION. THIS IS KNOWN AS A RECURSIVE
ACRONYM BECAUSE IT REFERS TO ITSELF.
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