Portable Credit Card Number

[2infinity]

I heard talk about the ability to keep your credit card number when you change bank. Kind of like if you change Telco's, you can port your number across.

If this happens, just wondering how it will impact on my credit card sign up bonus points.

 

[Buzzard]

Why would porting a number impact a sign up bonus

 

[trippin_the_rift]

I predicted credit portability many years ago. It has to be coming!

 

[deka2]

For AFF members this thread should be changed to "Portable Credit Card Numbers" (plural)

 

[Mal]

I predicted credit portability many years ago. It has to be coming!

I can't see it occurring. There are too many legacy systems in place that would have issues. That said, I'd love to see it due to certain benefits it would bring!

 

[burmans]

Google account number portability and you may well come to the conclusion its not going to happen any time soon. It has been recommended a number of times now but always dropped when people recognise how hard it actually is.

 

[Dr Ralph]

Portable savings account numbers have long been mooted. I wasn't aware of portable credit card numbers being discussed.

 

[Simo]

Would be handy but if a banking system drops out it could effect people who are not currently customer of that bank. It happened in telco early one morning that a Carrier had a issue and ported number where not getting calls on there new carrier

 

[wazza888]

How about the first 4 digits that identifies the issuer? Would this be a problem?

 

[Simo]

That isn't in the mobile phone world

 

[burmans]

How about the first 4 digits that identifies the issuer? Would this be a problem?

Well, yes currently the first 6 digits identifies the issuer. So if they were to be portable the numbering scheme would have to change and/or lose its current meaning (but if that was to be the case there would need to be other ways of identifying the issuer).

 

[Buzzard]

What about when your card gets scammed and you get a new number?

 

[burmans]

What about when your card gets scammed and you get a new number?

Not sure what you are getting at here but it would be difficult to reuse (which portability essentially involves) a number if you feel it has been compromised. Moving to another provider doesn't alter the fact the scammer knows your card number (and presumably other personal info).

 

[ajd]

The international nature of the Visa/MC/Amex/etc networks and the sheer number of banks involved makes me think this would be very difficult to pull off - doable, but not . Portable savings account numbers within Australia only would be easier IMHO as the relevant payment networks are basically run entirely within Australia, but even that would require major changes to banking systems.

If we're going to replace all the systems involved in card issuing anyway - what's far more interesting to me is evolving the payment system away from the current situation where we use a single set of numbers, printed on a plastic card, shared with hundreds or thousands of different merchants with varying degrees of security risks, as sufficient proof of identity to raid your entire bank account or line of credit. We have modern cryptography now, and if we used it properly, we could make Card Not Present fraud far more difficult than it currently is...

 

[JohnK]

I think it's too difficult for an individual to remember if holding multiple credit cards. And confusing.