Each credit card, issued by any financial institution, will have numbers as well as security codes added to the card. Mostly cannot find security codes of their credit card, it is normal since each financial institution adds the security codes in different places. Below are more details about some financial institutions’ credit card, to be exact credit card numbers and security codes. First of all, understanding the definition of security codes on credit card is a must.
The holders of credit card provided by any bank needs to prepare their credit card numbers with CVV before making online purchases. Financial institutions are complementing their credit cards with security codes in order to protect finances of the holder. Those who steal a credit card won’t be able to use it for any online purchase without knowing your name, account number, security codes, and expiration date. Where exactly is the code?
Sometimes, credit cards are completed with four digit security codes. The other credit cards issued by different banks come with only three digits of security codes. Those who have credit cards from MasterCard and Visa will see credit card numbers and security codes only in 3 digits. The code can be found on back part of credit card. Moreover, those who use the card issued by American Express will see four digits code on front of credit card.
Meaning of Security Codes Added to Each Credit Card
When making online purchases, credit card holder doesn’t have to enter pin numbers or even signing receipt. Instead, holder must confirm the purchase with security codes. When the security code is confirmed, seller will see complete details about buyer and figure out if the buyer isn’t the owner of that card. Security code is printed only on credit card.
The only way to protect security codes is only by keeping the credit card secure and safe. Once the card is stolen, the thief can use it to buy everything online without any permission since he has the credit card numbers and security codes in hands. The owner of credit card who loses the card must contact card issuer then cancel the card. Then, the card owner must watch any transaction then report to financial institution for fraudulent transaction.
Each financial institution usually has its own name for security code added to credit card. Visa for example calls its credit card’s security code CVV2. American Express has a special name for its security code as CID. Meanwhile, security code founded on MasterCard’s credit card is called CVC2. The name of valid credit card numbers with CVV depends on company or network of credit card.
Although each financial institution has specific name for credit card’s security code, all credit card numbers and security codes work in the same way. Some credit cards are contactless ones which usually involve a chip. The chip will generate its own code series electronically. Those credit cards with chip are known as Dynamic CVV. However, the security code is not card holder’s pin number.