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What Does A Credit Card Have To Do With Magnetism?
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What Does A Credit Card Have To Do With Magnetism?
What even is magnetism?
Electric charge, resulting in a attraction of repulsion of a charged object.
A Little History...
How does a credit card work?
On the back of a credit card you have that black strip usually under where the signature box is. You see that thin black line?
Now a days, the magnet stripe can be found everywhere.
Back in the early 1960s the London Transit used the magnet strip system for tickets. In the late 1960s the Bay Area (USA) used the magnet strip system as well. They used a paper the size as our credit cards now, with the strip on the back.
How the black strip was believed to work...
The black strip stored a certain amount of money which was read and rewritten every time the card was used.
what the first credit cards looked like
To prevent fraud, the magnet strip for each card is different. Meaning no one can copy the code within the tiny-magnetic iron and use it for a long time.
That line holds tiny-iron based magnetic particles in a plastic-like film. That when swiped is decoded and read by the machine.
What do the three lines even stand for...
What do the three lines even stand for?
Track 3-
Track 1-
Track 2-
- Pin Number
- The Account Number
- Cash Advice Limit
How the UK make their credit cards
CITATIONS :)
How Is The Credit Card Beneficial To Society?
- Instead of having to carry a bunch of $1,$5,$10,$20, etc. you can access all your money with one light weight card!
- Its a pretty safe way to keep your money - hard to accesses it without pin & account number.
- The cost to make a credit card is only around a $1.11.
http://money.howstuffworks.com/personal-finance/debt-management/magnetic-stripe-credit-card.htm
http://www.hightechaid.com/tech/card/intro_ms.htm
http://www.creditcards.cdm
http://spectrum.leee.org