Your credit card number is your major line of defense against identity theft. You probably think it’s just a random set of digits or letters, but it actually has a lot of meaning.
What is a CVV number?
The credit card CVV number is a three-digit security code printed on your credit card’s back. It typically appears on the right side of the signature strip.
The CVV number is also printed on Visa and MasterCard debit cards, but it’s located in different places depending on how you purchase your card. For example, if you get one at a bank or credit union location, it will be on the front of your card under “CID/CVV.”
Where can one find a CVV number?
While it’s not always obvious where you can find your CVV number, there are a few places where you might expect to find it.
- On the back of a credit card
- On the back of a debit card
- On the back of a prepaid card
- On the back of a gift card
- On the back of a loyalty card
CVV Protects You Against Fraud
The CVV number is a security feature that helps to prevent fraud. As experts at SoFi state, “the CVV on credit cards adds an extra layer of protection when you’re making a purchase online or over the phone.” Your credit card issuer asks you to provide it when purchasing online, over the phone or at an automated teller machine (ATM). The card verifies the information provided by your transaction and can only be used once.
The CVV isn’t the same thing as your PIN. It also isn’t interchangeable with your expiration date. It’s not even something that some people know about until they make their first purchase using their new cards—but once you understand what the CVV is and why it’s there, you’ll likely never forget it again!
Is it possible to make online payments without a CVV number?
It is possible to make online payments without a CVV number. To do this, you will need to set up an online banking account with the bank that issued your credit card and go through the process of adding security features like two-factor authentication and fraud alerts. After setting up these features, you can make payments by logging into your account and clicking on “make a payment.” When prompted for the CVV code, select “select another option” at the bottom of the page and enter in an amount for your purchase without any other information.
Does CVV have any drawbacks?
CVV is a verification tool to confirm that you are the cardholder. It is also used to prevent fraud because it allows your bank or credit card issuer to ensure you have possession of the actual physical credit card. This means that if someone tries to use your credentials online but does not have access to your physical credit card, they will be denied because a CVV number was required for every transaction.
The CVV number itself should never be revealed, as it has nothing to do with what goes on behind the scenes or between you and your financial institution when making online purchases. The CVV code should never be given out over the phone or in person for any reason (including convenience) since this could result in identity theft if someone were listening in on the conversation.
You can say that CVV is a very important security feature, but it’s not the only one. Make sure you use all the tools available to protect yourself against fraud! Seek advice from Experts at SoFi to manage your cards responsibly.