Security: credit cards hacked in just 6 seconds.

Credit cards – almost everyone has you and those who don’t have them can usually only participate in online business to a very limited extent. Booking trips, shopping for products and services – all of this is hardly possible today without a credit card on the Internet. However, not having a credit card has the advantage that you are not exposed to the risk of accessing relevant data.

Now one may well counter that credit card security has risen dramatically in recent years. At first glance, this is absolutely correct, because thanks to the chip, secure codes, signature etc. and the technological interplay of all these security mechanisms, the credit card has really become increasingly secure.

But what is often overlooked here is the fact that the technical upgrade for the security features of a credit card also entails a technical upgrade on the other, fraudulent side. Plain text: Even potential credit card fraudsters do not sleep and are constantly looking for ways to “hack” credit cards.

Hackers are still using existing gaps in the credit card system

Hackers are still using existing gaps in the credit card system

The test of some IT experts has now shown that the “hacking” of credit card data is obviously not as difficult as you might think as a normal consumer. You have managed to access all relevant data from the latest credit cards within 6 seconds. As a result, these could have been used for credit card fraud.

The fatal thing is that it doesn’t even require highly specialized knowledge, hard-to-obtain software or the like to get this data from a credit card! A normal notebook with an internet connection is completely sufficient. Required, necessary software can be easily found on the Internet. Online shops are a necessary basic element for tapping or “finding out” that data. How does it work?

British researchers have shown it with a simple method: credit cards can be “hacked” in just 6 seconds!

Different testing methods in online shops offer the target

Different testing methods in online shops offer the target

In order to demonstrate how easy it can be, the researchers had the initial numbers of credit cards generated using simple software available on the Internet. These numbers were then automatically sent to a variety of online shops for validation. If a credit card number was validated, online shops were filtered, which only ask for the card number and the expiry date when paying by credit card.

Since the card number had already been validated and was therefore considered to exist, all that had to be done was to find out the expiry date. Most websites allowed such information to be made up to 20 times before access was blocked. If you were unsuccessful within the 20 attempts on one portal, you switched to the next portal and started a new attempt. The test showed that the expiry date could be found after a maximum of 60 attempts.

 

Credit for Lifetime Officials.

Banks rate each customer differently, and that is also the case in the individual professional groups. Officials are at the top of the list, giving them special status.

Bank rate for professional groups

Bank rate for professional groups

This is clearly due to the secure job, which is almost irrevocable, and the fixed income, which is usually very high. With these criteria, a civil servant already fulfills almost all of the conditions that must be met for a loan for a civil servant. Not even a bad Credit Bureau will downgrade officials. Nevertheless, the chances of getting a loan for lifetime officials remain very high.

In addition, an official’s congestion is rewarded with very favorable terms, making the loan very popular with lifetime officials. Of course, as the name suggests, not everyone can take out this loan. For example, teachers, life officials and probation officers, police officers and judicial officers can apply for this loan. Different banks offer a loan to lifetime officials without requiring a lot of collateral. For other professional groups, collateral is standard, since there is a very high risk that the loan cannot be repaid on time or not at all. It is different with an official, the salary that he receives is often so high that there will be no difficulty in paying the installments for the loan.

Officials enjoy special conditions

Officials enjoy special conditions

Since civil servants can meet the most important conditions with their salary and permanent employment and there is no great processing effort, this is rewarded with very favorable conditions. The interest rates are very low, so the monthly installments are also very low. The bank also has special conditions that can be used. With these special conditions, an official can decide when to pay which installments and how much. In addition, the civil servant can decide whether to pay the loan for lifetime officials in installments or, at the end of the term, in a one-off payment. Before the contract is concluded, the applicant is offered life insurance with a loan for life officials, which he or she can take advantage of.

The advantage of this insurance is that only the contributions have to be paid and at the same time the interest for the loan. If amounts of the loan are still outstanding at the end of the term, these are repaid by the insurance company, since life insurance is used as capital life insurance. Officials can decide the loan amount themselves, so that amounts of USD 100,000 are also possible. Since the terms can be up to 20 years, this sum is very realistic. Officials can apply to the house bank or on the Internet for a loan for life officials, although there are very good conditions on both sides.

Credit comparison: Why mini loans should also be compared with each other!

Does a credit comparison actually make sense? Usually it is said that a loan is a loan and basically nothing really “world-moving”. You just take out the loan amount you need from a trustworthy financial institution and then repay this loan along with interest over a fixed period of time. Basically everything is simple and easy – right?

Not at all, because loans are a competitive product of the financial sector and therefore have different conditions. This means that not every loan costs the same everywhere.

It follows from this that the higher the loan amount, the cost of the loan varies. The interest rate at which a loan is communicated as an offer in the market is responsible for these cost differences. So if you don’t want to pay too much for your loan here, it’s a good idea to compare a wide range of offers using a loan calculator.

Mini loans have different loan terms

Mini loans have different loan terms

Anyone who is of the opinion that the use of a credit calculator or credit comparison portal only pays off for higher loan amounts is wrong. Because even with a small loan or mini loan, a loan comparison is worthwhile. A small loan or mini loan is usually a loan amount below $ 1,000.

This sum is usually used to bridge a temporary financial bottleneck. Those who are in such a situation probably use the overdraft facility in most cases, but this is not always the best choice. For some time now, mini loans have also been available as a loan alternative.

So if a loan amount of less than $ 1000 is to be taken up to bridge a financial bottleneck, there are two options. If the decision is made to bridge that bottleneck with the help of a mini loan, it should be clear that, despite the limited number of providers, these loans also differ significantly from one another.

With a high-quality loan comparison, you can still save a few USD even with mini or small loans.

The differences in terms are diverse. They are not only evident in the effective interest rates, but in particular in the more or less sensible additional options. The cost differences in the service extras are the decisive factor in determining the cost of the mini loan taken out. If the decision for a mini loan provider is made prematurely, it may pay more for its small loan than necessary.

Find cheap mini-credit thanks to credit comparison

Find cheap mini-credit thanks to credit comparison

If you want to prevent this when taking out a loan, you cannot avoid using a credit comparison. But when it comes to comparing loan amounts below USD 1000 with short terms, most comparison portals have to fit. It is simply not offered. But this does not mean that there is no possibility of such a comparison. Rather, it is the case that a mini loan comparison has so far been more of a niche existence.

It is therefore important to find comparison portals specializing in this type of loan, which do not only focus on the simple comparison of interest rates. Good portals for a credit comparison of those small loans also focus on the cost comparison of the additional options already mentioned. Only if these points find their way into the loan comparison are their results objective and transparent. As a result, these loan calculators offer a solid basis for selecting the right mini loan offer.