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What Are The Benefits Of The CSV Code On Your Credit Card?
The CSV Code (Card Security Value) is a three or four digit number that is unique to your credit or debit card. If you are hesitant to do shopping on the Internet for fear of having your credit card information stolen, you might feel a little better once you understand this important security feature.
There are several purposes that the CSV code serves for your identity protection. Understanding security features of credit cards will help you protect your identity and prevent your credit score from getting ruined by a criminal. Check out the following benefits of the CSV code on your credit card:
a) Single Location For CSV Code Since the CSV code does not appear anywhere else (like your monthly credit card statements), it is practically impossible for a crook to steal your identity via credit card number unless they have physical possession of your card. Be aware that the terms CSV, CSC, CVV, CCV are interchangeable; they are all describing the same sequence of identity protection digits printed on your card.
b) Proof Of Credit Card Possession The security code is close to 100% proof that a credit card is in your possession when ordering something on the phone or internet. Before CSV codes the fraud that occurred through these two channels was out of control since there was no human intervention to physically see the shopper or credit card. The CSV code changed that for the better. Even if a thief was able to get an imprint of the front of your card they would still be hard pressed to use it on the phone or internet without also knowing the security code on the back.
c) Printed, Not Raised Notice that the CSV number (which is on the back for most credit cards and on the front for American Express cards) is not raised, it is printed. This way, if your card is swiped using one of the old manual swipers that uses the paper carbon copy forms, even if a crook gets their hands on the carbon and gets your credit card number, they still will not have the CSV. As you can see this little code can provide a strong layer of identity protection.
d) Doublecheck Authorized Signature As we mentioned, for most credit (and debit) cards, the CSV code is on the back and is usually printed at the very far right of your signature line. This is not the case for American Express, but most people have Visa or Master Card even if they also carry an American Express card. Think about this back location. It forces a store clerk or restaurant server to flip your card over to get the CSV code and that process makes sure that they check for your signature too.
If you ever visit a website where you want to order a product and the credit card form does not ask you to enter the CSV code, then you might want to think twice before proceeding. The same applies to telephone orders. Online merchants that do not have an up to date credit card order from are denying you the identity protection benefits of the CSV code on your credit card.
Author Resource:-
Nathan Randall, editor, Daily Dollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI...you can now access the Daily Dollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.
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