October 24, 2011

Current Value of Credit Cards on the Black Market, Part II

Recently, we blogged on the value of credit cards on the black market. This site showed the value of credit cards for sale online.  However, there's another site (which we won't promote) that also lists the value of credit cards.  

Here are the screen shots showing the credit card values for the various regions (click on the images to BIGGIFY):







Some interesting trends:

  1. The price of the credit cards is consistent with what we posted previously posted, with Visa and MasterCard fetching the lowest average cost with AmEx getting more. However, this new set of pictures shows how premium cards, i.e., platinum or business cards, command higher value.  In our previous post, the lesser-used Discover cards commanded the highest value.
  2. Cards belonging to Americans also see the lowest value.  Why?  There may be several reasons:
    1. Supply and demand--the US has a larger population with more credit cards, driving down black market value. 
    2. In Europe, the existence of a smart cards.  Having a smart card makes it much harder to conduct fraud so getting a usable credit card in Europe would drive value up.  Not surprisingly, according to this article, "MasterCard told ATM owners that those who don’t upgrade their ATMs to accept smart cards by 2013, will be responsible for any fraud committed through their machines. Likewise, Visa gave a deadline of 2015 for retailers to make the necessary upgrades if they don’t want to be liable to pay for any fraudulent transaction that has occurred in their stores."

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