Why do credit cards have magnetic strips on them?
So that credit card swiping machines can read them.
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.
What reader reads the magnetic stripe on the back of credit cards entertainment cards bank cards and other similar cards?
A magnetic strip reader does exactly what it says: it reads the magnetic strip on the card that the strip is attached to. The most common cards with magnetic strips are of course debit and credit cards, but the usage of magnetic strip readers is much wider. A number of ticket solutions, for instance for parking, coffee machines or toll roads also use magnetic strips. The information that is read by the reader depends very…
Magnetic data can be connected to separate mediums. In digital media, it equates to the system of storing information on magnetic tape via digital recording. It can also indicate the storage of data on a magnetized medium such as a computer hard drive. Some examples of magnetic storage data are magnetic strips on credit cards, floppy disks and recording tape.
Debit cards and credit cards are not the same. Debit cards are the one issued by your bank so that you can access your bank account. Most of them do not expire, and are replaced only when the bank makes a change to the account access system (i.e. from magnetic strips to electronic chips) or when you report your card as stolen. For debit cards, most of the cards do not expire. With credit 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."
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.
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
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.