CVV Meaning and How to Find It

It is said there is no place for secrets among friends and family. However, this does not apply to your credit card. It may be hard but there are good reasons why the details on your card should be kept secret. The details prominently printed on a credit card include the full name of the card holder, card number, date of issue and date of expiry. These details are the first level of security and should not be shared with anyone. The most important number though on your card is the CVV.

The CVV needs to be kept secret in order to safeguard your card against misuse by unauthorised persons. So even if your credit card today is most likely ensconced in your wallet as you stay indoors, the CVV may be used if you are transacting online. Have you ever wondered what the CVV behind your card stands for? To know more about the CVV, read on.

What is CVV?
 

CVV stands for Card Verification Value. This number is vital for completing online transactions and should never be shared with anyone. The CVV number is generated by credit card issuers (banks or other financial institutions) based on the following details:

1. Credit Card number
2. Service code
3. Card expiry date
4. Issuer's unique code

How do I locate the CVV in a credit card?
 

Locating the CVV is simple. It is the three-digit number at the back of your credit card. For certain types of credit cards, it could be a four-digit number printed on the front.

Components in a CVV

There are two parts to the CVV number.

• The first part is covered in a striped magnetic strip. It contains crucial unique data pertaining to your credit card. This information is recovered when the card is swiped through a magnetic reader machine.
• The second part consists of digits which need to be entered while making an online or telephonic transaction. This security number is one of the many advantages of a credit card.

What is the purpose of the CVV?
 

CVV is to credit card what a security guard is to an establishment. It helps safeguard your credit card against theft, fraud or unauthorised transactions. The CVV ensures that only the card owner uses the card. Even if someone gets hold of the credit card number, they cannot transact without the CVV.

Is CVV the same as my card’s PIN?
 

Your card’s Personal Identification Number (PIN) is NOT the same as the CVV. The PIN is used for making in-person transactions with the card or at ATMs. Whereas the CVV is used when making payments online or over the phone.

What if I swipe my card?
 

Fortunately, unlike other details of a card, the CVV cannot be stored while swiping or while punching online. Even though the CVV provides security, it does not absolve users of the caution they should take while using a credit card like not sharing the CVV with others.

We hope this article has been informative with respect to the nuances of a credit card. With IDFC FIRST Bank, you can get a lifetime free credit card and earn up to 10x reward points on every purchase. Click here for more details!

You can also keep track of all your credit and debit cards using a mobile banking app.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.