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moises
Apprentice
Joined: 14 Mar 2005
Posts: 2
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 Posted: 02/03/08 - 09:22 Post subject: |
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| I have recently started a bank account and I got a credit card from them. One of my friends recently told me he heard it was very important to know about bin ranges. However, I am really not sure what that means, so if anyone could help me with some explanation, that would be really great. Thanks in advance. |
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svend
Apprentice
Joined: 21 Feb 2005
Posts: 2
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| Posted: 03/04/08 - 00:18 Post subject: |
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| BIN is the system used on credit card numbers and it signifies the first six digits on them. To be clear, it is not only credit cards, but also debit cards, charge cards, stored-value cards that participate in that system. BIN is an acronym and it stands for ''Bank Identification Number''. It allows the card to be identified, so it is an essential part of it. There are many ranges now that can be found on the cards. Before, cards that had the first digit 5 were MasterCards, for example. However, because of security, it has all been perfected and cards were, thus, made safer. You, as a user, do not need to take care about it, but this info can be useful in terms of your confidence in your card security. |
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