Credit Card Woes

There are many things in life that can quickly get one in trouble, and credit cards are one of those things! It's bad enough that one can rack up a large amount of debt at high interest rates, but concerns with fraud are also a problem.

The need to safeguard your card from thieves should come to mind each time you take your card out of your wallet. Sometimes the need to guard your credit or debit card is not just an issue with making sure you don't lose it, but also making sure you don't give out the numbers to enable fraudsters from using your card.

Be sure to protect not only your card, and the card number, but also protect the three digit number on the reverse side of your card. This number is displayed on both credit and debit cards and proves that you are the card holder. If a thief accesses that number in addition to the actual card number, it will enable them to commit fraud easier.

What's the three digit number you need to protect? It's the CVV2 Value, which is displayed to the right of your signature. Now that I also said the word signature, I do hope you have your card signed as well!

The CVV2 Value is a 3-digit code located the the right of the printed account number within the signature panel. The code assists merchants in validating that a customer has the card in his or her possession, and that it is a valid card. If a thief has that number in addition to your credit card number itself it makes it easy for them to make purchases online, or over the phone. Long story short, be sure to protect not only the credit card itself, but also the three digit code on the back.

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