The Worst Credit Card Passwords Are The Easiest To Crack

Passwords are among the most important security features in today’s digital era. Passwords have the power to keep your personal information safe, if they are used appropriately. But an unsecure password will do little to deter scammers from stealing your information.

Passwords or PIN numbers are equally as important for credit cards. Most Canadian credit card providers have incorporated the chip and PIN technology that adds an extra layer of security onto credit cards. But the onus is on the user to keep that PIN safe, secure, and most importantly, difficult for a scammer to crack.

Hackers search for weak payment systems and exploit vulnerabilities in security to steal encrypted passwords. There have been numerous reports of data breaches across North America since the Target data breach on Black Friday in 2013. That incident compromised the security of a company’s entire payment terminal, and exposed personal information on up to 70 million Target shoppers across Canada and the US.

The Worst Passwords

The worst types of passwords are simple, four digit numbers. Hackers run a code that can input millions of guesses for passwords every second. The easier the code, such as a four digit number, the easier it is for a hacker to compromise the account.

The most common and most hacked password is 1234, or a variation of that number such as 1111 or 0000. Believe it or not, as many as 15 percent of people still use these types of passwords, leaving their identities and credit card accounts vulnerable to a determined hacker.

The Best Passwords

Since hackers can strike at any given time, passwords should be difficult to crack. If you are really savvy, you will make your password a complicated combination of characters that includes numbers, letters, and symbols.

When hackers run their code, the algorithm runs through the most basic combinations first, such as numbers, all lower case letters, or all upper case letters. But by creating a password that uses a number, a lower case letter, an upper case letter, and a symbol, you reduce the likelihood that a scammer could crack the code. For example, 4Cd$ is an excellent password and one that would likely protect your credit card account.

Write It Down

Remember to write your password down somewhere safe and tattoo the code onto your memory. Otherwise you could have a real headache on your hands trying to access your account.

If you incorrectly input your password, most banks only give you 2 more chances to get it right before freezing you out for 24 hours. Pick a combination that will be easy enough for you to remember but still challenging enough to keep out scammers. And if you do have an off day, keep the password in a secure place where you can recheck it to keep using your credit card.