What is the CVV number on your credit card?

Hey I'm Adam Jusko from ProudMoneycom and in this video we are gonna look at what the CVV number on your credit card is all about

But before we do that I would ask you to please subscribe to our YouTube channel if you have not already and if you have already I thank you for doing so So, every Visa, MasterCard, Discover, and American Express card has what is called the CVV number on it and on here this particular credit card I'll show it to you It's a three-digit number on the back generally of most cards — the MasterCard, Visa and Discover will have a three-digit number on the back, American Express card will have a four-digit number on the front of the card for its CVV Now CVV stands for Card Verification Value and you may wonder "why do you need more numbers on a credit card? there's already 16 numbers or whatever on the credit card to begin with" Right? So that should pretty much identify everything that anyone needs to know about your credit card and help you verify whether your credit card is good or not

Well basically that CVV on the card is another layer of fraud protection, and it is this especially for online and phone transactions transactions that are known within the credit card industry as "card not present" transactions — basically you are not actually giving the card to someone physically who can look at it and see if it's valid, even look for your signature on the back although those signatures are something that are going away and then most people don't pay attention to it to begin with But anyway, when you aren't actually giving a credit card to someone physically, then it's harder for them to know obviously if you have stolen a credit card number If you have a large-scale hack where someone all of a sudden has millions of credit card numbers, they could use those numbers online or by phone very easily if there wasn't some layer of protection to maybe alert somebody that they didn't actually have that physical card but they had stolen the numbers So essentially the CVV allows your online or phone merchants to check to see if you actually have the card that you are making a purchase with

Because if somebody doesn't have the physical card then they don't know what that CVV is in most cases, right? Because you have to turn it over and look at it or look on the front of the American Express card Most times people that have stolen a credit card number, they only have those 16 digits to begin with So this is really something that is for the card issuer more than it is for you Obviously you don't want fraud, but the truth of the matter is if somebody does steal your credit card number and it's through no fault of your own, you aren't going to be liable for any purchases that are made on that card anyway So if your card number gets stolen it may be a pain in some instances to deal with, but it is not something where you're gonna be held liable

So really it's the card issuer that wants that number on there because you know they want to know that when that card is being used online or being used by phone it is really being used by the person that has the card Now that doesn't mean that the CVV couldn't be stolen, because obviously someone could physically steal your card if you're in some kind of situation where you lose your wallet, lose your purse, whatever, someone steals your credit cards — obviously they then would have the physical credit card with the CVV and they would use it just in the exact same way that you would So that's obviously not going to stop anything in that case And then other times think about times where you may use your credit card where it goes away from you here in the United States, a lot of times if we give our card to a person at a restaurant, they're gonna take it away and then bring us back, after they've kind of done the transaction on there and through the machine, they're gonna bring it back to us

Sometimes we'll go to a bar and leave it at the bar until we're ready to close out our rounds Again, it's gone to somebody else who's holding onto it who we're really not paying any attention to Now in other countries a lot of times they will actually do restaurant transactions right at your table so you never have the card out of your sight, but here in the US oftentimes it doesn't work that way

Which means someone that works at a restaurant, works at a bar works, at a retail store perhaps — anywhere where your card might get out of your sight, there is the opportunity for someone not only to take your credit card number but to copy down that CVV Because obviously they know that CVV is something that is important as well, so obviously it can still happen There can still be fraud on your credit card, but the whole point of the CVV is to cut down on credit card fraud on online and phone transactions So that is it If you ever wondered what that CVV number was for, that is the story about it

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