Monthly Archives: August 2019

Warning Signs That A Credit Repair Company Will Rip You Off

For the last 5 or 6 years I’ve been telling friends and family how ugly of an industry credit repair and debt settlement is getting to be. I’ve also said that sooner or later the FTC would shake out the bad apples making it a safe place for consumers again.

It looks like my prediction was wrong. It’s gotten worse…much worse. And faster than I thought, too.

Regulatory bodies have cracked down as much as they can, but so far their efforts have been in vain. With the current economy, the housing market collapse and bankruptcies soaring, it’s just too much temptation for the scam artists of the world to resist.

To make matters worse, it’s not just the typical opportunists popping up to ride the wave of opportunity. Some of the larger firms have tried to grow so fast that they’ve thrown away the true value in their services and turned themselves into worthless chop shops in order to make a quick dollar.

The fast buck money makers aren’t what scare me so much though. Typically with any amount of common sense they’re not too hard for the consumer to spot. It’s the larger firms with churn and burn tactics that scare me and here’s why.

A few years ago there weren’t too many real credit repair companies out there. The legitimate ones were actually able to do a good job. Thus, they racked up some nice testimonials, affiliations and word of mouth.

However, in an effort to grow too fast and capitalize on this poor economy, some of them have thrown value and results out the window and replaced it with overseas outsourcing, dispute templates and poor service – yet still hide behind the accolades they earned years ago when they actually provided a real service.

Here is what I’d look for in any credit repair company, despite their past record.

Warning Sign 1) Horrible Reputation:
In my opinion there is no excuse for a BBB complaint (perhaps one or two) in this industry and here’s why. We don’t charge a lot of money for our services. On average a legitimate credit repair company should charge anywhere from 35 to 90.00 per month max.

Before any complaint escalates to the level of a BBB intervention the consumer will contact the credit repair company with their complaint. At that point the company has an opportunity to make it right. Any company who values a couple dollars over a consumer’s trust and their reputation is not a company I would do business with.

Your Solution to a Horrible Reputation:
To check the record of any company go to the BBB’s website and simply type in their web address and you can see their track record whether they are members or not.

Warning Sign 2) Overseas Outsourcing:
Here’s the scary one to me. A current trend in the industry for some of the larger credit repair companies is outsourcing the work overseas to places like India, Nicaragua and Russia. Now let me say I don’t have a problem with these places or the people in particular.

However, it’s just a simple fact that the security and regulation may not be up to our standards and it’s something you should know about before you sign up.

When you sign up with a credit repair company here in the United States and give them your most precious information, wouldn’t you like to know before hand that your credit file is being faxed overseas?

Your Solution to Overseas Outsourcing:
Before signing up with any credit repair company simply ask them point blank. Does any part of their work get outsourced overseas? If so, I personally wouldn’t hire them.

Warning Sign 3) Partial Repair:
99% of every client we’ve ever had needs intervention on all levels. That means disputes with the credit bureaus, collection Agencies, Attorney’s and all of the original creditors. Most companies are only disputing on the credit bureau level (see generic template paragraph above…)

I would have to look long and hard for a client who didn’t need us to contact collectors or attorney’s, or negotiate their debts. I don’t think we’ve ever had a client who a letter to the credit bureau – ONLY – fixed all their problems.

Your Solution to Partial Repair:
Simply ask them this… Will you contact the collection agents, attorney’s and negotiate my debts if necessary? If they won’t, you’re not getting everything you probably will need to fix your credit.

Warning Sign 4) Worthless Dispute Templates:
Same problem as always. Generic dispute templates that are used over and over for every client are next to worthless. Do you seriously think the credit bureaus can’t spot them a mile away?

Your Solution to Worthless Dispute Templates:
Simple! Ask them for a copy of any letter before it goes out. They are disputing on your behalf you have the right to know what they are saying, if it looks something like this. I would drop them like a bad habit.

‘I just pulled my credit report and am disappointed that you have errors. I was never late on this account, under the laws of the FCRA please update that to never late and send me a copy of my new report’

The template changes a little here and there but you get the picture. If it doesn’t look completely unique to your personal credit file, it’s a template and a waste of your money.

Warning Sign 5) Being Left in the Dark:
Credit Repair companies charge you by the month (at least the legitimate ones do) and obviously milking your account for as long as possible is in their best interest.

You need to be able to track when and what is being done on your behalf by these companies. Credit bureaus and collection agencies have 30 days plus mail time to respond to all disputes. If the credit repair company doesn’t have a backend you can track exact timelines then you’ll never know if an extra week or two or three is being added to your account.

Solution to Being Left in the Dark:
Personally, I would opt for a company that has a backend you can log onto 24/7 and track notes, progress etc. Otherwise, you just have to hope you’re not being ripped off.

The above are the most common red flag warnings I see. No matter who you choose to repair your credit I would ask every one of those questions and research every item there.

That and a little common sense and you should do fine.

A Guide to Accepting Credit Card Payments via Smartphone

Business owners who wanted to accept credit card payments once had to go through a fairly complex process to set up the necessary contracts and install the necessary equipment. This led some to skip the entire process, accepting only cash or checks in payment. Of course, business owners who did not operate through a traditional brick-and-mortar location often had no means of accepting credit cards at all, whether they wanted to or not.

For better or for worse, however, today’s consumers expect to be able to pay via credit or debit cards, no matter what the business type or situation. Many no longer carry cash or checkbooks at all. Fortunately, it is now possible for even the smallest or most mobile business owner to easily accept credit card payments, simply by using his or her smartphone.

If you wish to be able to accept credit card payments through your smartphone, you have several different options available to you. The first decision you must make is which credit card payment processing company you prefer. Different providers will vary somewhat in the fees they charge and certain other details, so pay close attention to the specifics of the programs they offer before you sign any agreements. For example, Square’s mobile credit card processing is one of the most popular such programs. It keeps 2.75 percent of each transaction it processes, or a flat fee of $275 per month, depending on your preference.

PayPal offers similar mobile credit card processing options for a slightly lower 2.7 percent of each transaction. However, some business owners have had difficulty with their service in certain situations, so speak with representatives of the company to ensure that it can meet your needs before you begin working with them. Although PayPal and Square are two of the most popular options, quite a few other companies are available as well; investigate a variety to ensure you choose the best service for your situation.

You should also compare when you actually receive the money each company processes for you. For example, Square deposits your earnings to an account of your choosing by the next business day, while PayPal sends them to your PayPal account within a few minutes. Of course, you can then transfer it to an ordinary bank account if you wish, a process that takes a few days.

After you choose which company you wish to work with, you will need to configure your smartphone so that it can begin sending credit card data from your customers to that company. First, you will need to download, install and log in to the proprietary app for the processing company. Second, you will need to set your phone up to receive the data in the first place, so that it can then transmit it. Both PayPal and Square will send you an encrypted card reader for free after you create a merchant account with them. This reader simply plugs into your smartphone; you can then use it to swipe your customer’s credit cards just as you would do in a grocery store. With this technology, you can accept credit card payments in your car, at a craft fair or at your storefront – wherever your business takes you.

Sam Jones the author of this article has two android smartphones to add to his increasing collection.

Cost-free Credit Report and a Negative Credit Score

The very best type of free of charge credit score bureau is a person that is up front and straightforward from the residence page all the way via. There are so numerous agencies out there that will lure the consumer into a trial that is unclear what is expected. Totally free Credit score is a fair and honest web site and even point possible clients to wherever they can find their yearly credit score reports for free. With so considerably openness one particular could wonder how they retain clients. The reply is rather easy when the actuality of most reports having mistakes, the need to have for a continual up-to-date edition is definitely a necessity of right now.

The have to have to keep track of all 3 credit agencies becomes quite apparent when knowledge that none of the 3 do the job at all jointly. This is why a human being can go into several retailers and get an instantaneous credit score card, but an individual store won’t allow it. The motive is that there are distinctive reviews currently being used by the various stores to receive the data. A single could be very up to date and an additional may possibly have outdated details still on it. The use of a free of charge credit score bureau can give an first search at where by the client stands.ds.

There is a lot of worry about identification theft these days and one particular spot that seriously gets disregarded is the total of credit score troubles due to an ex-spouse. Husbands and wives normally buy issues with each other and just becoming married generates a scenario of credit staying tied with each other. Often right after twenty decades a individual will recognize an ex-spouse’s social security quantity still on their credit report. The scary element of it is that there is nothing stopping that ex-spouse from utilizing a social safety amount they had made use of for many years for the duration of a marriage. So keeping up to date utilizing a free credit score bureau very long just after a divorce is a beneficial strategy.

Despite the fact that the Federal federal government has essential every particular person entry to their credit score report on an yearly foundation, it really is nonetheless a very good thought to use the services of a cost-free credit score bureau to get an concept of how handy they will be in aiding you monitor your credit report on an ongoing foundation. Absolutely free Credit score is identified for their efforts in aiding to preserve their consumers knowledgeable in a timely way each time there is a transform to their credit score. Maintaining an eye on an at any time transforming report that has an effect on so many areas of daily life is extra crucial than ever before prior to and Free of charge Credit score is the best spot to get started.

Any person will be joyful to get a fully totally free credit report. It is normally excellent to preserve track of your credit score data. Today it is extremely important to maintain track of our credit report mainly because of the identification theft and to continue to keep a clear file of our credit score if we ever require to prove it for our financial programs in long run.

for a lot more info stop by this websites:

Percent Credit score Cards – Finding the Very best Deals, Percent Credit Cards – Finding the Greatest Offers, Stability Transfer Credit score Cards – Techniques to Come across the Very best Discounts

Fast Student Loans No Credit Check No Cosigner Suitable Cash For Students

There was a time when by searching for quick cash many times, borrowers were failed but in this day and age, finding urgent cash is not hard and fast for the creditors. Now they can exert online for the cash. Online is one of the first techniques for providing immediate cash. It is hassle from the troublesome acts. Borrowers who are reluctant to fax major certificates in the process of loan, they can easily obtain funds via online however the applicants need to fulfill few mentioned details about themselves to keep away risk factor of lenders. In the application form, the aspirants are to fill out name, residency, contact number, bank account number, service security number, age and the list goes on. After confirmation these formalities the cash will be wired in the bank account of borrowers within few hours or the next admission day.

Fast Student Loans No Credit Check No Cosigner are generally unsecured in nature it is mean that collateral or co-signer is not used thats why creditors are against for dedicating asset as collateral in lieu of loan, they are free for applying these ramparts of loans. They can avail the amount ranges from $1000 to $15000 for the reimbursement period of 3-7 years or this loan amount can be repaid after completion education. Due to unsecured these loans are unsecured, the rate of interest is a bit higher to compare other loans. Such loans can be utilized for various purposes as pay the college or examination fees, hostel charges, library charges, purchasing books, purchasing PC which is the essential quota of the modern education.

Credit check and paperwork are not done for Fast Student Loans No Credit Check

No Cosigner. Hence, fair chances are available for those bad credit students with default, arrears, CCJs, IVA, late payments, insolvency can easily ameliorate their blemished conditions. After ameliorating these bad statuses, they can pave their tough education for pursuing. But such student borrowers need to pay attention on the terms or the conditions of such loans. First of all they are to make a plan of reimbursing loan amount. Finding more knowledge, they can go for the Internet where numerous lenders are available to stand by the borrowers in their bothers.

Choose A Credit Card, The Right One Of Course

If you are searching for the best possible deal and the best credit card company, you will obviously need to look around at what you have to choose from and what works best for you. The first thing you will need to decide when choosing a credit card, is why you need one. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases and buy things, leaving your paycheck or other income source in your bank account to draw interest. This way, your money will grow while you continue to buy the things you need. Then at the end of the month, you can simply pay your bill. Others will select a credit card and use it for instant cash purposes. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on an extended vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.

With a credit card, you will also need to think about the payments. You will need to determine if you want to pay the balance in full each month, or the required amount. When you select your credit card, you should look at the introductory rate, balance transfer rate, and other offers that may apply to new credit cards and new card holders. Some will offer you truly exceptional deals, especially if you have good credit.

Another significant area to peruse when choosing your credit card is the incentives. There are a few cards out that will give you incentives, i.e. reward points and cash back with purchases, cash back that you can use towards paying back what you owe. There are several incentives types available with credit cards, all you have to do is look around and compare.

The key area you will need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will pay on what you buy when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you will be.

Another concern with choosing your credit card is the minimum monthly payment amount. Most minimum payment balances will start around 3%, although some can be lower others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period available to keep the payments down.

When you make that final decision and choose your credit card, you should make sure that you know exactly what you are getting. Credit cards are great to have, although they can lead to a financial downfall if you do not choose them carefully. If you put some time and research into choosing your credit card, you will find the best one for you. As long as you take care of your credit card and pay the bill on time, you will help raise your credit limit and eventually be able to purchase even bigger items – such as a car or even a house.

Portable Credit Card Machine Accept Credit Card Payments On The Go

Portable Terminals, A Brief History

A credit card machine is an instrument a machine or a terminal used to process credit card transactions at point of sale. The machine empowers you the merchant to swipe credit cards of your customers capturing the necessary data for transaction approval and funding.

A number of solutions exist, ranging from integrated registers to wired terminals, but portable options allow merchants to carry the capability to make a sale wherever they go.

Of the portable solutions available, you might want to consider a mobile or wireless processor that integrates with your smartphone. These phone systems are fast becoming the portable standard due to their convenience, easy setup and integration easy access.

For more professional or high volume needs, merchant account providers offer portable terminals for operation in the field so to speak, enabling your sales staff to meet and greet with customers, confident and capable of being able to close a sale on location.

With a portable machine you can offer your products or services on their doorsteps, and receive payment from them right away.

Incredibly convenient.

With portability in mind these credit card machines have been designed to be lightweight and easy to bring along. A number of terminals are being offered currently that you can carry in your pocket as unobtrusively as your cell phone.

Going Beyond Simply Accepting Payments

Basic functions of credit card processing machines include:

Accepting credit cards, debit cards, and other types of charge cards as a means to pay for the products or services purchased.
Secure transmission and processing of the data from the cards, allowing for instant payment verification.
Portable hand-held machines perform the two basic functions above wherever and whenever the merchants need the same.
Terminal Types

Portable credit card transaction processing machine are available that offer:

Wireless machines that can sit stationary on your location but are easily movable and transportable as the need arises.
Mobile phone processors perform the same functions as the wireless credit card machines except that these processors are hand held devices that can easily fit into the pocket and carry anywhere you need integrating with your current smartphone

Basic features you can find in portable or mobile solutions are:

Magnetic strip readers that reads the data contained in the card
Key pad to input data for manual transaction processing
Receipt printer that prints out the transaction automatically
Screens, color, digital and touch that serves to provide instructions or can be used for point of sale signatures
There are certain models with additional features to extend or enhance the basic functions of the machine.


In todays competitive world of business, merchants who want to grow their business and increase their profitability should have the ability to go mobile should the need arise.

To accommodate mobile or offsite credit card transactions, portability offers you flexibility and sale closing capability to seize the moment.


Here are some of the most important benefits and how you can get the most from your machine:

Portability It would not earn its name if such machines were not portable. Portability is in fact the most obvious benefit you can enjoy. Just as you need to be mobile, you can easily carry the machine and enjoy its lightness and compactness.
Convenience Because the mobile credit card machine can always be with you, you are ever ready to make an important sale.
Perceived Value to Customer Your customers and clients will appreciate the ease of completing the purchase without unnecessary steps.
Cost Saving Being able to avoid manual processing after the fact of a sale or because of a phone sale will qualify you for lower discount rates with most merchant account providers, meaning less of your charge amount is deducted. The savings can be significant..
Portability opens up opportunities to expand your operations to cover off-site transactions resulting in sales growth and increased profitability.

Increase in Privacy and Security You no longer have to document the credit card transaction manually, reducing the risk to security breaches and privacy problems. With manual documentation and processing of the transaction, you write the credit card and all necessary information on a prescribed form, which carries the risk of getting lost, stolen, or misappropriated.
The above risks make customers hesitant to give their credit card information when you require manually processing the transaction off-site. With credit card swiping with a portable device you increase your customers trust and increase the odds of their willingness to do business with you.

Strengthens customer relations You increase customer satisfaction when you make it convenient for them to do business with you. Your customers will enjoy the convenience of carrying and using their credit cards instead of cash.
Especially with large purchases, a portable solution makes it convenient and secure for your customers, as they do not have to worry about bringing hefty sum of money.

They benefit from the convenience and security; your business gets to enjoy an increase in sales volume.

In the conduct of todays businesses, the capability of being mobile or on the go is an advantage that every merchant can benefit from. Using a portable credit card machine opens up new markets that you could not otherwise reach.

Decide to use a mobile solution for your processing needs and you might surprise yourself with the expanded options and flexibility your business can enjoy.

How to make money while using your credit cards

Having a credit card is not all about spending. In fact, as a responsible credit card user, you can actually make money with credit cards! Obviously, there are some tricks to it, and we’re happy to share a couple. Before we do that, though, this is just a reminder that to maintain your high credit score, you’ll still need to be on your guard when you use plastic. Ready for those tips for how you can make money with credit cards? Here they are:

Join the Rewards Program- This is probably the easiest and the simplest trick, but most people don’t realize that they can earn money this way. Most credit card companies offer cash back, rewards, and/or a points program for every dollar you spend. Some programs will give back a percentage in cash; others offer a program where you earn points on the purchases you make. You can redeem the points for a number of things–free dinners, movie tickets, or even free travel anywhere in the country! All you do to earn the points or cash back is simply buy the goods and items you need with your credit card. Of course you must be extremely careful as you need to watch out for high interest rates and fees. To help in this aspect, apply for a credit card that has an ample grace period before interest rates apply. When you finally receive your credit card in the mail, simply buy whatever you need and pay the balance in full when your bill arrives. Yes, making money with credit cards is this easy. y.

Take Advantage of Free Loans- When you want to make money with credit cards, one of the tricks you must remember is to take advantage of cards offering a, -Zero Percent Introductory Interest Rate.- This is as good as money in the bank when your application is approved with a high credit limit. First, when applying for a credit card, choose a good company–one that gives 0% interest on both balance transfers and purchases for as long as possible–a year is preferred. When your card is approved, you can use it in either of the following ways:

1. You can use the zero percent offer to buy products, goods, and services all year long- Then deposit the money you would have used to pay the interest in a savings account or just invest in other things. This way you are freeing up your money – and using other people’s money at no expense to you. You can pay the minimum balance charged per month and continue doing this until you are charged interest. It is at this time that you can continue to pay the minimum or just pay the balance in full.

2. You can use the balance transfer switch procedure- Apply for a credit card with a zero interest rate and decline any balance transfers. Make sure it is one that offers checks. Once you receive the checks, you can simply withdraw the money from the credit card by writing a check and deposit this into your personal account. It should be an account paying a high interest rate so that you can get a boost to your cash. To make money with credit cards, you can apply for a new credit card with a different company when the 0% interest rate is about to expire. Transfer the old balance to the new credit card. Of course before doing this, you need to understand the fees and interest rate (hopefully it’s again zero or very low) you have to pay for your new card.

Improving Your Credit Score Rating

Your credit history is equally important as making money with your credit cards since this could determine whether or not you have a bright financial future. In order for your credit report to be clean, you should have your credit score checked on a regular basis. Here are some tips and advice to follow when you decide to work on improving your credit score rating.

1. Pay off any debt that you may have incurred while using your credit card. This can dampen your spirits but will definitely have a huge impact on your credit score rating.
2. Limit your credit balance–a balance of 50% or more will hurt your credit score.
3. Try not to cancel your credit card. Instead, pay off the balance every month. This will result in a good relationship with your credit card company.
4. One of the easiest things you can do is to pay off your bills on time. By doing this consistently, lenders see that you are responsible and, the bonus for you is that you will pay off your loan in a jiffy!
5. Have a good relationship with your creditors. It doesn’t matter how many credit cards you have as long as you pay off the balance on each of them. This shows that you are disciplined enough to pay back what you owe.

Joy Mali is an active finance blogger who is fond of sharing interesting finance management tips to encourage people to manage their personal finances. More specifically, she advocates that people should check credit reports and scores regularly.

New Bin Database Lookup Service

The BIN database or bank identification number database is a very important system. The BIN can also be referred to as the IIN which stands for issuer identification number. When you use your debit or credit cards at a retail store there is something that is tracking your purchase. It is the BIN database. How does this work you might ask? Well it works like this, when you receive a credit or debit card your card is issued to you with a series of numbers. The first 6 numbers located on the front of your card is the BIN or IIN. These numbers are important because they let the database know where the card was issued from. This makes for better networking because it allows your transaction to be completed fairly quickly. The last series of numbers located on your card are referred to as the card identification number. The BIN or IIN database makes it harder for credit card scammers to be able to commit credit card fraud. Before the BIN or IIN database it was fairly easy to commit these crimes because the credit card system was not yet sophisticated enough to quickly access the information from the issuer of the card. Nowadays you have the BIN or IIN database to help and monitor these transactions a lot faster than before. If a credit or debit card is reported lost or stolen the BIN or IIN database will suspend the use of the card so virtually eliminating the possibility of it being used for fraudulent purchases.

Now we have access to the BIN or IIN lookup. This is where you can lookup information on a card from simply entering the first 5 digits of the series of numbers located on the card itself. It is perfectly legal because you cannot commit credit card fraud with just the first 6 digits of a credit or debit card. The BIN or IIN lookup is just for indentifying the issuer of the first 6 digits of the credit or debit card that is being looked up. To lookup a particular card you need to do a BIN number search. It is just entering the 6 digits of the card and the BIN or IIN lookup will provide you with the card issuers information, a phone number for the card institution and the card type. This is helpful because you get a general idea of the card that is being used but not enough information to commit credit or debit card fraud. The card identification number is not used in the bank identification number or issuer identification number lookup. This is because it would be a way for scammers to get information about the owner of the card and be able to fraudulently use the credit or debit cards. Using the bank identification number database or issuer identification database is supposed to be a secure way to do a BIN or IIN lookup.

The card identification number is unique to the cardholder themselves. This is the series of numbers followed by the first 6 BIN or IIN that is at the beginning of the card number. The BIN or IIN database uses this information along with the bank identification number or issuer identification number to speed things along when you are purchasing something with your credit or debit card. The BIN or IIN database is rapidly being utilized and very common by the seller and the purchaser. Credit and debit cards are being used more and more each day and we depend on these cards for purchasing products every day.

Transaction Steps Involved In A Credit Card Payment

The complex procedural steps involved in credit card payment are designed to protect the interests of both the client and the issuing bank, which are as follows: product purchase, authorization, safe-keeping and tracking, and fund transfer.

The type of payment using a credit card has already been popular due to two major reasons such as convenience and safety both on the part of the customer and merchant. Cashless shopping is possible without having to worry about thefts. Apart from the previously mentioned reasons, another importance of accepting credit cards is observable when running an online business. This makes shopping feasible even when you are miles away from the actual store location. You are basically opening more doors for potential customers and not just limit to physically present patrons. However, you might be wondering how a simple card can turn into something profitable. Here is a brief explanation as to how transaction takes place, which are as follows:

Product purchase

Purchasing a product can be done either in actual stores or through online transaction. If the client is physically present during the purchase, the card can be swiped on a terminal device, which captures details such as name of cardholder, account number, date of purchase, and amount. However, if the transaction took place online, you just need the account numbers, so that these can be encoded manually.


There is such entity called acquiring back, which refers to the middleman who facilitates the processing through authorization request. The issuing bank verifies the account number, card type, and the available funds of the cardholder. If there are sufficient funds to cover the cost of purchase, an authorization code will be sent back to the processor. Approval is not always feasible especially if issues like insufficient credit limit and history of unpaid monthly dues are present.

Safe-keeping and tracking

Every time a sale has been consummated, a slip is printed out to be signed by the cardholder. It is then transmitted to the acquirer when claiming for reimbursement, which is usually done at the end of the day.

Fund transfer

Once transaction is confirmed, funds will be deposited by the issuing bank to the acquirer. The acquirer then pays the merchant with an amount equivalent to the purchase minus the minimum processing fee set by the processor. The transfer of funds varies according to the promptness of the merchant in reconciling all signed sales’ slips. The duration of entire processing usually takes place between 2 – 3 days depending on the regulation of the bank. Whenever there is a chargeback, the issuing and the acquiring banks will have to settle the concern through refunds or in worst scenario, cancellation of transaction.

Credit card does not always mean advantage; therefore, using it properly and wisely is highly recommended.

Bin Ranges List For Credit Cards

BIN act as one of the preventive measures developed to prohibit the credit card frauds. BIN stands for Bank Identification Number, which is now termed as Issuer Identification Number. BIN refers to the first 6 digits of a credit card.

Credit cards comprises of 16 digit number, where the first 6 digits plays an important role irrespective of the type of card held and the issuing authority and bank. The six digit number stands for the issuer’s identification in which the first digit represents and described as the Major Industry Identifier. The remaining digits of the credit card number which generally range up to 12 digits act as an identity for individual i.e. the card holders. Even though the credit cards are offered from the banking and non-banking institutions, they are generally issued through the exclusive network.

Bin also represents the institutions that issue the cards. Bin ranges list and regulates the credit cards issuance, starting with the same number for each card and every card issued by the respective institutions. For instance, Visa cards starts with 4. Majority of the issuing institutions print the first 4 digits of the card, i.e. the first 4 digits of the Bank identification number just below the embossed credit card number. It is extended for additional security.

For instance, if a Visa Credit Card, issued by Royal Bank of Scotland starts with 4147 as embossed on the card just below the embossment, the same digits are printed at the bottom left corner of the card.

The Bin ranges list for major credit card issuing institution includes the following:
*Bin ranges for Visa Card – Credit card numbers start with 4
*Bin ranges for Master Card – Credit card numbers start with 5, ranging from 51 – 56
*Bin ranges for Amex Card – Credit card numbers start with 34 or 37
*Bin ranges for diners club – Card numbers start with 36 or 38. However, there are few exceptions to bin ranges for Diners club cards, where the cards start with 5. In such case, it represents the ties between the Master Cards and Diners Club, and these cards are processed similar to a master card.
*Bin ranges for discover – Card numbers start with 6011 or 65
*Bin ranges for JCB – card numbers begin with 35

The above mentioned bin ranges list is provided in a narrow context of major credit card issuers, where the same can be expanded with respective issuing authority in association with other banking and non-banking institutions. For instance, JCB cards are issued by Korea Exchange bank, China Construction bank, Kookmin bank, etc. Similarly, master cards are issued by HSBC bank.

Bin ranges list of the credit card can be further classified based on the type of cards. It includes silver credit card, gold credit card, platinum cards, premium card, signature card, corporate card, etc. Each issuing authority along with the associated banks and credit card service providers offer different types of credit cards with different credit limits based in the bin ranges list.