Why do credit cards have a magnetic stripe on the back?

Why do credit cards have a magnetic stripe on the back

The reader that reads the magnetic stripe on the back of credit cards and other similar cards are called credit card reader.

A magnetic stripe card is a type of card capable of storing http://wiki.answers.com/wiki/Data by modifying the http://wiki.answers.com/wiki/Magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card.

The magnetic stripe are found on the back of bank cards and some types of identification cards for security systems.

the magnetic strip on the back of credit cards r use to store information about the card holders account the information is stored in the form of magnetic field same as that in a floppy disk or a tape cassete

The ­stripe on the back of a credit card is a magnetic stripe, often called a magstripe. The magstripe can be "written" because the tiny bar magnets can be magnetized in either a north or south pole direction.

The magnetic strips on the back of bank cards and credit cards can be affected by strong magnetic fields or being close to weak magnetic fields. When you keep credits cards in a wallet with magnetic strip touching or being very close together, it is possible for the magnetic strips to affect each making them unreadable. Even so, the credit cards can still be used by manually keying in the credit card number.

The strip on the back of a credit card is made up of a lot of magnetic particles which identifies and contains account information.

Magnetic Storage: Hard disk drive (HDD) Floppy disk drive (FDD) Data Tape backup MiniDV tape Cassette tape The magnetic stripe on the back of a credit or debit card Non-magnetic Storage: Solid-state drive (SSD) Flash memory card USB flash drive Optical media (DVD, CD and BluRay) Punch cards

"In today's modern world of technology, magnetic encoding has revolutionized the safe and reliable transfer of personal credit card data. However, once the magnetic strip has been damaged on the back of a credit card it will no longer work properly. The only solution is to replace it with a new card."

The security codes on most credit cards is the three digit number that is on the back, after the black stripe ends on the right side. I am sure Mastercard is the same.

No, HSBC does not offer credit cards with cash back rewards. While their credit cards do offer cash back, it is not a reward and one can be charged a hefty interest fee when requesting cash back.

There are no magnets in credit cards. If you're referring to the 'magnetic strip' on the back of the card - it's a secondary system of identifying the card. When you insert your card into an ATM - the machine reads the magnetic strip which connects it to the account-holder's bank. Contrary to popular belief - it does not contain the PIN associated with the card.

A secrect code usually 3 digits that is required to purchase items online or on the phone and a magnetic strip to enable electronic card readers to acquire information

Some popular credit cards for students are the Citibank credit card and the Discovery credit card. These two credit cards are designed for students and offer credit back incentives.

Is there magnetic stripe son the ocean floor are places where oceanic crust sink back to the mantle

Chase offers cash back credit cards, rewards credit cards, travel credit cards and Special Balance Transfer Offer Intro APR on Purchases and Balance

Subsidiary credit cards are viable credit cards issued under the direction of a major credit card company. For example, the American Express Company issues several different types of credit cards. They have cards that give you cash back, cards that give you points to purchase other items, and cards that earn airline travel miles. Each one of these types of cards are subsidiary credit cards.

The strip on the back of your credit card is made up of magnetic particles that contain the account information. Any contact with a magnet or magnetic field can cause the strip to become demagnetized and the card to be ruined. Exposure to magnets can cause the particles in the strip to rearrange, making the card unreadable. Read more: Why Do Magnets Ruin Credit Cards? | eHow.com http://www.ehow.com/about_5365431_do-magnets-ruin-credit-cards.html#ixzz1Odckj7cS

There are many different credit cards that offer cash back. Some of the credit cards that offer cash back are Simply Cash from American Express and Ink Cash from Chase.

The security code is not only on the back of the card. Example: American Express puts it on the front. The basic concept is simple. This number is only phisical.... meaning that it is not also encoded on the credit card magnetic stripe. The result is, that if you know and can provide this code, you have the physical card in your possesion.

no you go into a deeper debt with credit cards. creadit cards are not money. you BORROW the money and they want it back really quick.

Some credit cards that offer cash back include Bank Americard Cash Rewards, Blue Cash Preferred from American Express and Chase Freedom Visa. You can get more information about these cards and apply for them online at the Credit Cards website.

Chase credit cards offer a lot of cash back incentives when you use them to charge items. Sometimes, the cards offer one percent cash back depending on what you sign up for.

A card skimmer reads the back of credit and debit cards. It is a type of device employed to commit credit card fraud and identity theft.