Credit Card Authentication

  

Have you ever gone on vacation and forgotten to notify your bank or credit card company? If you have, we're sure that, by the second or third time you used (or attempted to use) your card, it no longer worked, causing obscene embarrassment...like, "TP on the back of your shoes" embarrassment. Well, this is because of credit card authentication.

Credit card authentication is the process that occurs when your credit card is confirmed, or not confirmed, with the organization that issued the card. In order to complete your purchase of an authentic Mexican cheeseburger from the McDonald’s in Cancun, your credit card must be authenticated, meaning the issuer of your card must approve the transaction, or it will be denied. Ouch.

And again, a total embarrassment. After all, how much could a cheeseburger possibly cost in Cancun?

Related or Semi-related Video

Finance: What is the Equal Credit Opport...6 Views

00:00

Finance a la shmoop what is the Equal Credit Opportunity Act? alright people while the

00:09

federal government thinks everyone should have the equal opportunity to get [Men in Federal Government appear]

00:15

into debt isn't that sweet of them you know that Uncle Sam well he sure does

00:19

have a heart of gold this federal law makes it illegal to discriminate against

00:25

people who are applying for financing on pretty much anything legal based on

00:29

their age gender marital status religious affiliation ethnic or national

00:35

background or public assistance benefits your credit score however well that

00:41

still matters sorry just keeping it real

Up Next

Finance: What is a Line of Credit?
133 Views

What is a line of credit? A line of credit is kind of like a loan. A bank gives a borrower a line of credit, which basically says they can borrow â...

Finance: What is the Credit Rating Agency Reform Act Of 2006?
4 Views

What is the Credit Rating Agency Reform Act Of 2006? As signed by President George W. Bush in 2006, the Credit Rating Agency Reform Act required th...

Finance: What are Credit Scores and Worthiness?
21 Views

What are Credit Scores and Worthiness? One of the most ubiquitous ways that digital society now dictates our lives is with business and personal cr...

Find other enlightening terms in Shmoop Finance Genius Bar(f)