A credit card allows cardholders to pay for goods and services with the promise to pay later. It was invented in 1887 and is now issued through major networks like Visa and Mastercard. Security features like magnetic stripes, holograms, and ultraviolet markings help prevent fraud. The document discusses how credit cards work, their benefits and risks, and tips for safe usage.

2.  A credit card is a payment card issued to
users as a system of payment. It allows the
cardholder to pay for goods and services
based on the holder's promise to pay for
them.
 Invented in 1887 by Edward Bellamy

4. •American Express
•Visa
•Master card
Credit card
network
•Standard chartered
•City Bank
Credit card
company

6.  Magnetic stripe
 Hologram
 Ultraviolet Mark

7. The strip on the back of a credit card.
1.made up of tiny iron-based magnetic
particles in a plastic-like film.
2. What data is stored is based on the
orientation of each magnetic particle.

9.  The electromagnetic force
 A type of physical interaction that occurs between electrically
charged particles.
The ability of a changing magnetic field to induce a voltage in a
conductor.

10. ∇×E = – ∂B / ∂t
∇× notation = curl operation
E =electric field (a vector quantity)
B= magnetic field (also a vector quantity)
∂= partial differentials, so the right-hand of the equation
Voltage strength is
proportional to the number of
wire turns and magnetic field
changes.

11. Data
• put on by magnetizing the north and south
poles on each of the tiny magnetic particles
swiping
•the data is read by the movement of the
magnetized spots that make the poles change.
moving the
card
•the magnetic domains induce a voltage in the circuit
of the machine, allows it to read data

12. When credit card is placed under an ultraviolet
light-
•‘V’ visible over the Visa logo
Visa card
•bear the letters “M” and “C”
on the card.MasterCard

13.  Group of different electromagnetic waves and
Electromagnetic waves are waves that can
travel in a vacuum.
 There are 7 components in the spectrum and
UV is one of them.

15.  Safer than carrying cash.
 Build your credit rating.
 You can get interest-free days.
 Earn reward points when you spend.
 You can request a chargeback if you’re
unhappy with a product or service.
 Credit cards work in any currency

16.  Hidden costs.
 A debt trap for the cardholder.
 Cases of fraud are extremely common today.
 Credit cards can be used at ATM cards, but
considerable processing fee required.
 Paying high rates of interest.

17.  Sign card with signature
 Do not leave cards lying around
 Do not give account number unless making
purchase
 Report lost or stolen cards promptly