The credit card security code is the most essential 3 digits code that secures every transaction made from the credit card. There are lots of name to the credit card security code such as Card verification code (CVC), Signature panel code (SPC), Verification code (VC) etc but all of them has a sole purpose of securing the transaction made by the card. Generally, it is an additional measure of security for a credit card that contains only 3 digits.
The credit card security code is generated after the card is possessed by an individual for the purpose of an online transaction on mail or phone. The original cardholder can only possess the credit card security code and should be kept private to avoid any kind of misuse of the account.
Basically, there are two types of credit card security codes for every credit cards granted by any financial institution or banks.
It is the first code and is encoded in the magnetic stripe of the credit card and is utilized for transactions at present. The sole purpose of the CVV1 is to verify whether the credit card is with the safer and verified merchant in any store. The code will be verified by the issuer soon after the swipe of the magnetic stripe of a credit
It is the second code and is utilized for the transactions done by mails, fax or through the net to the merchant.
In general, the location of the Credit card security code depends on the type of credit card that you are using.
No matter which credit card you are using, the security code is meant to secure the account as well as the particular transaction just like the pin code. A cardholder can make a number of the transaction only when the connection is secure and verified by the issuers. Any merchant store cannot store the code and moreover; all the card holders are advised not to disclose the code to anyone. Sharing the security code through the mail is also somewhat risky and can be misused easily. If someone possesses your details such as credit security code, card number, and expiration date then that means he or she possesses your card and the transaction can be done easily without any permission.
Personal Identification Number (PIN) is another form of security other than the code provided and can be used to withdraw any amount of money from ATM. Generally, these are used to authorize the transaction by verifying the possession of the cardholder. The credit card security code is used only in the shopping when the merchant asks for the code and cannot be used to withdraw any amount of money. However, any trace of a security code or pin cannot be found in the mini statement or the shopping bill statement from the ATM or Store respectively.
Sometimes the credit card may get damaged and the code may be faded away from the card. You can call the financial institution or bank that has issued the card by the number provided in the back panel of the credit card. The issuers have some set of guidelines that can be helpful to you to reissue the card or the security code can be shared after giving all the required details. Fading or damage to the security code doesn’t mean that your code is not safe. It is with you but is simply not visible and is completely safe from any kind of frauds. Although, the card has to be reissued don’t share the card with others looking for the code.
The security code generators can help the user get access to any credit card with all the details generated on the website. The details that are used to make an online transaction such as Card validation code and Card verification data for the master card and discover card respectively are found. Other than this the details from other cards such as Card validation number of china union pay and CVV2 from Visa are also found in the Credit card security code generator instantly.
There are lots of benefits from the credit card security code that makes the transaction from credit card safe and secure. Some of them are
Besides all these benefits offered by the credit card security code, there are some threats too from the misuse. Misuse of credit cards cannot happen unless the security code is made public and thus with all its benefits it makes the transaction easier for the cardholder.