A CVV number, or card verification value, is a three-digit number on most credit and debit cards that helps verify the card's owner. When making a purchase online or over the phone, the merchant will ask for the CVV to help ensure that the person using the card is actually its rightful owner.
The CVV number helps combat credit card fraud by requiring the person using the card to have it in their possession. Theoretically, a thief won't have access to a victim's CVV number and won't be able to make an online purchase with a stolen credit card.
How Does It Work?
The CVV number is actually a feature of the card's magnetic stripe. When the card is swiped, the CVV number is read by the merchant's credit card processing machine. This number is then verified against information stored in the processing company's database.
If the number matches, the purchase goes through. If it doesn't match, the purchase is likely to be declined. This is why it's important to keep your card's magnetic stripe safe and confidential. If a thief gets a hold of your CVV number, they could make fraudulent purchases with your card.
How to Find the CVV Number on Your Card?
The CVV number can usually be found on the back of the credit or debit card, near the signature strip. Sometimes, it may be located in other places on the card depending on the issuer's preference.
Look for a three-digit number preceded by two asterisks (**). This is your CVV number. You should never write or keep this number anywhere online where someone else could access it and use it to make an online purchase.
Do All Cards Have a CVV Number?
Some cards, like American Express, do not have a three digit CVV number on the back of the card. Instead they require that you enter an extra security code whenever making an online or phone purchase. This is because Amex uses different technology to verify its cardholders.
If you have an Amex card, you'll need to find the code on the front of your card and enter it when making a purchase. This four-digit code is unique to each Amex card and is used in addition to the CVV number.
What If I Lose My Credit Card?
If you lose your credit card, you should call the issuer immediately to report it missing. They will deactivate the card and issue you a new one.
The CVV number on your new card will be different from the number on your old card. Make sure to keep your new CVV number safe and confidential, just like you did with your old number.
What If I Find My Lost Credit Card?
If you find your lost credit card and want to use it again, the first step is to contact the issuer and let them know. They will deactivate the old card and activate a new one with a different number. Then, replace any stickers or magnets that had your old CVV number with new ones that have the CVV number for your new card.
Final Thoughts
A CVV number is a three-digit number on most credit and debit cards that helps verify the card's owner. It's important to keep this number confidential and safe, as someone could use it to make fraudulent purchases if they had access to it.
If you lose your card, contact the issuer immediately to report it missing and they will deactivate the card and issue you a new one. The CVV number on your new card will be different from the number on your old card. Make sure to keep your new CVV number safe and confidential.
